http://www.legislation.gov.uk/eur/2012/282/chapter/II/adoptedCommission Implementing Regulation (EU) No 282/2012 of 28 March 2012 laying down common detailed rules for the application of the system of securities for agricultural products (codification) (repealed)Commission Implementing Regulation (EU) No 282/2012 (repealed)Commission Implementing Regulation (EU) No 282/2012 of 28 March 2012 laying down common detailed rules for the application of the system of securities for agricultural products (codification) (repealed)2020-12-13King's Printer of Acts of Parliamenthttps://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32012R0282texttext/xmlenCHAPTER IIREQUIREMENT OF A SECURITY
Article 4

A security shall be given by or on behalf of the party responsible for paying the sum of money due if an obligation is not met.

Article 51.

The competent authority may waive the requirement of a security where the value of the sum secured is less than EUR 500.

2.

Where use is made of the facility in paragraph 1, the party concerned shall undertake in writing to pay a sum equal to that which he would have been required to pay had he given a security and that security has subsequently been forfeited in part or entirely.

Article 6

The competent authority may waive the requirement of a security where the party responsible for meeting the obligation is either:

(a)

a public body responsible for executing the duties of a public authority; or

(b)

a private body executing duties referred to in point (a) under State supervision.