This Article only applies for so long as checks are required in respect of EU funds that have been granted or committed to the UK or UK beneficiaries before exit day in order for appropriate measures (including effective checks) to be taken either by the EU Commission or by the Secretary of State, the Scottish and the Welsh Ministers to prevent fraud, corruption and any other illegal activities, and in order that, where irregularities are detected, the EU Commission is assisted with the recovery of the amounts wrongly paid and, where appropriate, effective and proportionate action is taken against the beneficiaries where fraud, corruption or illegal activity is revealed.

The EU Commission, or its representatives, and the EU Court of Auditors retain the power of audit, on the basis of documents and on-the-spot checks, over all grant beneficiaries, implementing bodies, contractors and subcontractors who have received EU funds granted or committed before exit day under this Regulation.

The European Anti-Fraud Office (OLAF) may be authorised to carry out reasonable on-the-spot checks and inspections on economic operators suspected of defrauding the EU following receipt directly or indirectly of EU funding in accordance with the procedures laid down in Council Regulation (Euratom, EC) No 2185/96 with a view to establishing whether there has been fraud, corruption or any other illegal activity affecting the financial interests of the EU in connection with a grant agreement or decision or a contract concerning EU funding.

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