http://www.legislation.gov.uk/id/eur/2012/966/part/ONE/title/II

http://www.legislation.gov.uk/eur/2012/966/part/ONE/title/II/chapter/3/2012-10-25

Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 (repealed)

Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council (repealed)

2020-12-11

King's Printer of Acts of Parliament

https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32012R0966

text

text/xml

2012-10-25

Regulation

Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012

Regulation

PART ONECOMMON PROVISIONS

TITLE IIBUDGETARY PRINCIPLES

CHAPTER 3Principle of equilibrium

Article 17Definition and scope

1

Revenue and payment appropriations shall be in balance.

2

The Union and the bodies referred to in Article 208, may not raise loans within the framework of the budget.

Article 18Balance from financial year

1

The balance from each financial year shall be entered in the budget for the following financial year as revenue in the case of a surplus or as a payment appropriation in the case of a deficit.

2

The estimates of such revenue or payment appropriations shall be entered in the budget during the budgetary procedure and in a letter of amendment presented pursuant to Article 39. The estimates shall be drawn up in accordance with Regulation (EC, Euratom) No 1150/2000.

3

After the presentation of the provisional accounts for each financial year, any discrepancy between those accounts and the estimates shall be entered in the budget for the following financial year through an amending budget devoted solely to that discrepancy. In such a case, the Commission shall submit the draft amending budget simultaneously to the European Parliament and the Council within 15 days of submission of the provisional accounts.