<num>TITLE II</num><heading>FINANCIAL PROVISIONS</heading><article eId="article-310" uk:target="true"><num>Article 310</num><heading>(ex Article 268 TEC)</heading><paragraph eId="article-310-1"><num>1.</num><content>All items of revenue and expenditure of the Union shall be included in estimates to be drawn up for each financial year and shall be shown in the budget.The Union's annual budget shall be established by the European Parliament and the Council in accordance with Article 314.The revenue and expenditure shown in the budget shall be in balance.</content></paragraph><paragraph eId="article-310-2"><num>2.</num><content>The expenditure shown in the budget shall be authorised for the annual budgetary period in accordance with the regulation referred to in Article 322.</content></paragraph><paragraph eId="article-310-3"><num>3.</num><content>The implementation of expenditure shown in the budget shall require the prior adoption of a legally binding Union act providing a legal basis for its action and for the implementation of the corresponding expenditure in accordance with the regulation referred to in Article 322, except in cases for which that law provides.</content></paragraph><paragraph eId="article-310-4"><num>4.</num><content>With a view to maintaining budgetary discipline, the Union shall not adopt any act which is likely to have appreciable implications for the budget without providing an assurance that the expenditure arising from such an act is capable of being financed within the limit of the Union's own resources and in compliance with the multiannual financial framework referred to in Article 312.</content></paragraph><paragraph eId="article-310-5"><num>5.</num><content>The budget shall be implemented in accordance with the principle of sound financial management. Member States shall cooperate with the Union to ensure that the appropriations entered in the budget are used in accordance with this principle.</content></paragraph><paragraph eId="article-310-6"><num>6.</num><content>The Union and the Member States, in accordance with Article 325, shall counter fraud and any other illegal activities affecting the financial interests of the Union.</content></paragraph></article>

http://www.legislation.gov.uk/eut/teec/article/310/2020-03-01Consolidated version of the Treaty on the Functioning of the European UnionConsolidated version of the Treaty on the Functioning of the European Union2020-12-24King's Printer of Acts of Parliamenthttps://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016E/TXT-20200301texttext/xmlen2020-03-01PART SIXINSTITUTIONAL AND FINANCIAL PROVISIONS<num>TITLE II</num><heading>FINANCIAL PROVISIONS</heading><article eId="article-310" uk:target="true"><num>Article 310</num><heading>(ex Article 268 TEC)</heading><paragraph eId="article-310-1"><num>1.</num><content>All items of revenue and expenditure of the Union shall be included in estimates to be drawn up for each financial year and shall be shown in the budget.The Union's annual budget shall be established by the European Parliament and the Council in accordance with Article 314.The revenue and expenditure shown in the budget shall be in balance.</content></paragraph><paragraph eId="article-310-2"><num>2.</num><content>The expenditure shown in the budget shall be authorised for the annual budgetary period in accordance with the regulation referred to in Article 322.</content></paragraph><paragraph eId="article-310-3"><num>3.</num><content>The implementation of expenditure shown in the budget shall require the prior adoption of a legally binding Union act providing a legal basis for its action and for the implementation of the corresponding expenditure in accordance with the regulation referred to in Article 322, except in cases for which that law provides.</content></paragraph><paragraph eId="article-310-4"><num>4.</num><content>With a view to maintaining budgetary discipline, the Union shall not adopt any act which is likely to have appreciable implications for the budget without providing an assurance that the expenditure arising from such an act is capable of being financed within the limit of the Union's own resources and in compliance with the multiannual financial framework referred to in Article 312.</content></paragraph><paragraph eId="article-310-5"><num>5.</num><content>The budget shall be implemented in accordance with the principle of sound financial management. Member States shall cooperate with the Union to ensure that the appropriations entered in the budget are used in accordance with this principle.</content></paragraph><paragraph eId="article-310-6"><num>6.</num><content>The Union and the Member States, in accordance with Article 325, shall counter fraud and any other illegal activities affecting the financial interests of the Union.</content></paragraph></article>