Council Regulation (EC) No 219/2007Show full title

Article 14 Financial regulations

1. The financial regulations of the Joint Undertaking shall be adopted by the Administrative Board.

2. The purpose of the financial regulations is to ensure the economic and sound financial management of the Joint Undertaking.

3. The financial regulations should respect the broad principles laid down in Commission Regulation (EC, Euratom) No 2343/2002 of 23 December 2002 on the framework Financial Regulation for the bodies referred to in Article 185 of Council Regulation (EC, Euratom) No 1605/2002 on the Financial Regulation applicable to the general budget of the European Communities(1), and shall in particular include the main rules on:

(a) the presentation and structure of the Sesar project cost estimates and the annual budget;

(b) the implementation of the annual budget and internal financial control;

(c) the method of payment of contributions by the members of the Joint Undertaking;

(d) the keeping and presentation of accounts and inventory records as well as the drawing up and presentation of the annual balance-sheet;

(e) the procedure regarding calls for tender, based on non-discrimination between the countries of the members of the Joint Undertaking and the Community character of the project, the award and the terms and conditions of contracts and orders on behalf of the Joint Undertaking.

4. The detailed implementing rules enabling the Commission to ensure compliance with its obligations pursuant to Article 274 of the Treaty establishing the European Community shall be set out in an agreement between the Joint Undertaking and the Commission.

(1)

OJ L 357, 31.12.2002, p. 72.