http://www.legislation.gov.uk/eur/2014/480/article/2Commission Delegated Regulation (EU) No 480/2014 of 3 March 2014 supplementing Regulation (EU) No 1303/2013 of the European Parliament and of the Council laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries FundCommission Delegated Regulation (EU) No 480/2014Commission Delegated Regulation (EU) No 480/2014 of 3 March 2014 supplementing Regulation (EU) No 1303/2013 of the European Parliament and of the Council laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries FundKing's Printer of Acts of Parliamenthttps://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0480-20190530texttext/xmlen2024-05-19Expert Participation2021-03-26 CHAPTER II<Strong>PROVISIONS SUPPLEMENTING PART TWO OF REGULATION (EU) No 1303/2013 APPLICABLE TO <Repeal ChangeId="key-b6a806c183b4c4fa56facb6dc0e4af6d-1687849038115" CommentaryRef="key-b6a806c183b4c4fa56facb6dc0e4af6d" RetainText="true" SubstitutionRef="key-b6a806c183b4c4fa56facb6dc0e4af6d-1687849038116">THE ESI FUNDS</Repeal> <Addition ChangeId="key-b6a806c183b4c4fa56facb6dc0e4af6d-1687849038116" CommentaryRef="key-b6a806c183b4c4fa56facb6dc0e4af6d">SUPPORT FOR RURAL DEVELOPMENT </Addition><Addition ChangeId="key-b6a806c183b4c4fa56facb6dc0e4af6d-1687849038116" CommentaryRef="key-b6a806c183b4c4fa56facb6dc0e4af6d"><Repeal ChangeId="key-43e1894a04e02ebf5b1b3e390ac591fa-1687949973759" CommentaryRef="key-43e1894a04e02ebf5b1b3e390ac591fa" RetainText="true">AND SUPPORT UNDER REGULATION 508/2014</Repeal></Addition> </Strong>SECTION I<Strong><Emphasis><Repeal ChangeId="key-ffbc8202cc0c8222e0f97afafe035bb8-1687849242843" CommentaryRef="key-ffbc8202cc0c8222e0f97afafe035bb8" RetainText="true">Criteria for determining the level of financial correction to be applied under the performance framework</Repeal></Emphasis></Strong><Repeal ChangeId="key-ffbc8202cc0c8222e0f97afafe035bb8-1687849242843" CommentaryRef="key-ffbc8202cc0c8222e0f97afafe035bb8" RetainText="true">(Fourth subparagraph of Article 22(7) of Regulation (EU) No 1303/2013)</Repeal><Repeal ChangeId="key-ffbc8202cc0c8222e0f97afafe035bb8-1687849242843" CommentaryRef="key-ffbc8202cc0c8222e0f97afafe035bb8" RetainText="true">Determination of the level of financial correction(Fourth subparagraph of Article 22(7) of Regulation (EU) No 1303/2013)</Repeal>Article 21The level of financial correction to be applied by the Commission pursuant to Article 22(7) of Regulation (EU) No 1303/2013 shall be a flat rate determined on the basis of the ratio between the average of the final achievement rates for all output indicators and key implementation steps under a performance framework and the final achievement rate of the financial indicator under that performance framework (the ‘achievement/absorption coefficient’).2The achievement/absorption coefficient shall be calculated in the following way:athe final value achieved for each output indicator and key implementation step selected for the performance framework under a given priority shall be divided by the respective target values in order to obtain their final achievement rate expressed as a percentage of the target;bthe average of the final achievement rates for all the output indicators and key implementation steps selected for the performance framework under a given priority shall be determined. For that purpose, where a final achievement rate is calculated to be in excess of 100 %, it shall count as 100 %;cthe final value achieved for the financial indicator selected for the performance framework under a given priority shall be divided by the respective target value in order to obtain its final achievement rate expressed as a percentage of the target. For that purpose, where a final achievement rate is calculated to be in excess of 100 %, it shall count as 100 %;dthe average of the final achievement rates for all the output indicators and key implementation steps selected for the performance framework under a given priority shall be divided by the final achievement rate for the financial indicator selected for the performance framework under a given priority.3If a priority relates to more than one ESI Fund or category of region, the achievement/absorption coefficient shall be calculated separately for each ESI Fund and/or category of region.Words in Ch. 2 heading substituted in so far as it applies to support for rural development and support under Regulation 508/2014 (31.12.2020) by The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), regs. 1, 5(4); 2020 c. 1, Sch. 5 para. 1(1)Ch. 2 Section 1 omitted in so far as it applies to support for rural development and support under Regulation 508/2014 (31.12.2020) by virtue of The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), regs. 1, 5(5); 2020 c. 1, Sch. 5 para. 1(1)Words in Ch. 2 heading omitted in so far as it relates to domestic support for rural development (W.) (26.3.2021) by virtue of The Agricultural Support (Miscellaneous Amendments) (Wales) (EU Exit) Regulations 2021 (S.I. 2021/400), regs. 1(2), 8(4)