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 (c. 907)

CHAPTER IV SECURITIES

SECTION 4 Securities with respect to advance payments

Article 26 Scope

The provisions of this Section shall apply in all cases where specific Union rules provide that a sum may be advanced before the obligation established to obtain any aid or advantage has been met.

Article 27 Release of securities

1. The security shall be released:

(a)

either when final entitlement to the sum granted as an advance has been established;

(b)

or when the sum granted, plus any addition provided for in the specific Union rules, has been repaid.

2. Once the deadline for proving final entitlement to the sum granted has passed without production of evidence of entitlement, the competent authority shall immediately follow the procedure for forfeiting the security.

However, where specific Union rules so provide, evidence may still be produced after that date against partial repayment of the security.