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- Original (As adopted by EU)
Commission Delegated Regulation (EU) No 907/2014 of 11 March 2014 supplementing Regulation (EU) No 1306/2013 of the European Parliament and of the Council with regard to paying agencies and other bodies, financial management, clearance of accounts, securities and use of euro
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This is the original version as it was originally adopted in the EU.
This legislation may since have been updated - see the latest available (revised) version
For the purposes of this Chapter:
‘competent authority’ means either a party authorised to accept a security or a party authorised to decide in accordance with the relevant regulation if a security is to be released or forfeited;
‘block security’ means a security made available to the competent authority with the purpose of ensuring that more than one obligation is met;
‘the relevant part of the sum secured’ means the part of the sum secured corresponding to the quantity for which a requirement has been breached.
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Original (As adopted by EU): The original version of the legislation as it stood when it was first adopted in the EU. No changes have been applied to the text.
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