Article 35
1. Refund certificates shall be valid from the date of issue as defined in Article 22(1) of Regulation (EC) No 376/2008. 2. Subject to the second subparagraph, refund certificates shall be valid until the last day of the fifth month following the month in which the application for the certificate was made, or, until the last day of the budget period, whichever is earlier. The refund certificates referred to in Article 36 shall be valid until the last day of the fifth month following the month in which the application for the certificate was made. 3. If refund rates are fixed in advance in accordance with Article 26, those rates shall remain valid until the last day of the period of validity of the certificate.