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Commission Regulation (EC) No 1653/2004 CHAPTER 3 — Principle of equilibrium

Article 11–Article 12 · 2 articles

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Article 11

Budget revenue and expenditure must balance. The agency may not raise loans. Appropriations may not exceed the amount of the Community subsidy referred to in Article 5, plus assigned revenue and any other revenue referred to in Article 5.

Article 12

If the balance of the outturn account within the meaning of Article 56 is positive, it shall be repaid to the Commission up to the amount of the subsidy paid during the year. The difference between the subsidy referred to in Article 5 and that actually paid to the agency shall be cancelled.

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