Commission Delegated Regulation (EU) 2020/1987 of 14 July 2020 supplementing Regulation (EU) No 1308/2013 of the European Parliament and of the Council and Regulation (EU) No 1306/2013 of the European Parliament and of the Council as regards the lodging and release of securities in the administration of tariff quotas based on the chronological order of the submission of applications (c. 1987)

Article 3 U.K. Release and forfeiture of securities

1. The security shall be released immediately once the competent authority has received the satisfactory proof that the requirements linked to that security are met.

2. Where the relevant requirements are not entirely met, the security shall be released in proportion to the quantity for which the requirements are met. The amount of the security which is not released shall be forfeited in accordance with Article 24 of Commission Delegated Regulation (EU) No 907/2014(1).

(1)

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 (OJ L 255, 28.8.2014, p. 18).