74 Amendments of Jens GEIER related to 2010/0395(COD)
Amendment 9 #
Proposal for a regulation
Article 29 – title
Article 29 – title
Amendment 10 #
Proposal for a regulation
Article 29 – paragraph 1
Article 29 – paragraph 1
Amendment 11 #
Proposal for a regulation
Article 29 – paragraph 2
Article 29 – paragraph 2
Amendment 12 #
Proposal for a regulation
Article 29 – paragraph 3
Article 29 – paragraph 3
Amendment 14 #
Proposal for a regulation
Article 56 – paragraph 2 – subparagraph 1
Article 56 – paragraph 2 – subparagraph 1
Member States shall prevent, detect and correct irregularities and fraud when executing tasks related to the implementation of the budget. To this end they shall carry out, in accordance with the principle of proportionality, ex ante and ex post controls including, where appropriate, on the spot checks, to ensure that the actions financed from the budget are effectively carried out and implemented correctly,. They shall also recover funds unduly paid and bring legal proceedings as necessary. As far as Member States immediately disclose errors and / or irregularities they discover to the Commission and remedy these, they may be exempt from financial corrections concerning such errors and / or irregularities.
Amendment 16 #
Proposal for a regulation
Article 56 – paragraph 3 – subparagraph 1
Article 56 – paragraph 3 – subparagraph 1
In accordance with thecriteria and procedures laid down in sector-specific rules, a Member States authority shall accredit one or more public sector bodies which shall be solelybodies responsible for the proper management and control of the funds, for which accreditation has been grantedUnion funds. This shall be without prejudice to the possibility for these bodies to carry out tasks not related to the management of Union funds or to entrust certain of their tasks to other bodies.
Amendment 19 #
Proposal for a regulation
Article 56 – paragraph 3 – subparagraph 2
Article 56 – paragraph 3 – subparagraph 2
The accreditation shall be given by a Member State authority in accordance with sector-specific rules ensuring that the body is capable of properly managing the funds. The sector-specific rules mayshall also define a role of the Commission in the accreditation process.
Amendment 21 #
Proposal for a regulation
Article 56 – paragraph 3 – subparagraph 3
Article 56 – paragraph 3 – subparagraph 3
The accrediting authority shall be responsible for supervising the body and for taking all necessary measures to remedy any deficiency in its opmonitoring compliance of the accredited bodies with the accreditation criteria, on the basis of available audits and control results. The accrediting authority shall take all necessary measures to remedy any deficiency in the implementation of the tasks entrusted to the bodies it has accredited, including the suspension and withdrawal of the accreditation. The accredited bodies in the Member States shall: (a) conduct checks and put in place an effective and efficient internal control system; (b) provide the Commission by 1 March of the following year with: (i) their annual accounts drawn up for the expenditure made in the execution of the tasks entrusted and presented to the Commission for reimbursement including the sums disbursed to the beneficiaries for which recovery procedures are underway; (ii) a summary of the results of available audits and checks carried out, including an analysis of systemic or recurrent weaknesses as well as corrective actions taken or planned and their results; (iii) a management declaration, signed at ministerial level, providing reasonable assurance that: - the information contained in the accounts presents a true and fair view; - the expenditure referred in the accounts has been used for its intended purpose and in accordance with the principle of sound financial management; - the control procedures put in place give the necessary guarantees concerning the legality and regularity of the underlying transactions. These documents shall be accompanied by an opinion of an independent audit body, drawn up in accordance with the internation, including the suspension and withdrawal of the accreditation. ally accepted audit standards, on the contents of the management declaration. The audit body shall report if the examination puts in doubt the assertions made in the management declaration. An annex to the opinion shall present the error rate per funds and an analysis of the errors as well as reservations; (c) ensure in conformity with Article 31(2), annual ex post publication of recipients of Union funds; and (d) ensure a protection of personal data which satisfies the principles laid down in Directive 95/46/EC. If a Member State has accredited more than one body with responsibility for ex ante and ex post verifications per policy area, it shall by 15 March of the following financial year provide the Commission with a synthesis report consisting of an overview at national level of all management declarations of assurance and the independent audit opinions thereon, prepared for the policy area concerned. The Member States shall bring legal proceedings as necessary and appropriate. As far as Member States immediately disclose errors and / or irregularities they discover to the Commission and remedy these, they may be exempt from financial corrections concerning such errors and / or irregularities.
Amendment 23 #
Proposal for a regulation
Article 56 – paragraph 4 – introductory part
Article 56 – paragraph 4 – introductory part
4. BIn accordance with their functions, bodies accredited pursuant to paragraph 3 of this Article shall:
Amendment 24 #
Proposal for a regulation
Article 56 – paragraph 4 – point b
Article 56 – paragraph 4 – point b
(b) use an annual accounting system providing accurate, complete and reliable information in a timely manner;
Amendment 26 #
Proposal for a regulation
Article 56 – paragraph 4 – point c
Article 56 – paragraph 4 – point c
Amendment 27 #
Proposal for a regulation
Article 56 – paragraph 4 – point d
Article 56 – paragraph 4 – point d
(d) ensure, ex post publication of recipients of Union funds in conformity with Article 31(2), annual ex post publication of recipients of Union fundsd protection of personal data which satisfies the principles laid down in Directive 95/46/EC;
Amendment 28 #
Proposal for a regulation
Article 56 – paragraph 4 – point f
Article 56 – paragraph 4 – point f
Amendment 30 #
Proposal for a regulation
Article 56 – paragraph 5 – subparagraph 1 – introductory part
Article 56 – paragraph 5 – subparagraph 1 – introductory part
Amendment 32 #
Proposal for a regulation
Article 56 – paragraph 5 – subparagraph 1 – point a
Article 56 – paragraph 5 – subparagraph 1 – point a
(a) their annual accounts drawn up for the expenditure made in the execution of the tasks entrusted and including sums disbursed to the beneficiaries for which recovery procedures are underway or have been completed;
Amendment 34 #
Proposal for a regulation
Article 56 – paragraph 5 – subparagraph 1 – point c
Article 56 – paragraph 5 – subparagraph 1 – point c
(c) a management declaration of assurance as to the completeness, accuracy and veracity of the accounts, the proper functioning of the internal control systems as well as to the legality and regularity of the underlying transactions and the respect of the principle of sound financial management;, signed at ministerial level, providing reasonable assurance that: (i) the information contained in the accounts presents a true and fair view; (ii) the expenditure referred in the accounts has been used for its intended purpose and in accordance with the principle of sound financial management; (iii) the control procedures put in place give the necessary guarantees concerning the legality and regularity of the underlying transactions. An annex to the declaration shall present the error rate per funds and an analysis of the errors as well as reservations; These documents shall be accompanied by an opinion of an independent audit body, drawn up in accordance with the internationally accepted audit standards, on the completeness, accuracy and veracity of the accounts, on the proper functioning of the control procedures put in place as well as on the legality and regularity of the underlying transactions.
Amendment 37 #
Proposal for a regulation
Article 56 – paragraph 5 – subparagraph 2
Article 56 – paragraph 5 – subparagraph 2
If a Member State has accredited more than one body per policy area, it shall by 15 FebruaryMarch of the following financial year provide the Commission with a synthesis report consisting of an overview at national level of all management declarations of assurance and the corresponding independent audit opinions thereon, prepared for the policy area concerned.
Amendment 38 #
Proposal for a regulation
Article 56 – paragraph 6 a (new)
Article 56 – paragraph 6 a (new)
6a. The Commission may decide to lift all or part of the interruption or suspension of payments after a Member State has presented its observations. The decision to lift the interruption or suspension shall be annexed to the annual activity report of the competent authorising officer by delegation.
Amendment 39 #
Proposal for a regulation
Article 56 – paragraph 6 b (new)
Article 56 – paragraph 6 b (new)
6b. Member States shall provide a national declaration on the expenditure made under the system of shared management. This declaration shall be signed at ministerial level, and be based on the information to be provided under point c of paragraph 5, and shall at least cover the effective functioning of the internal control systems in place and the legality and regularity of the underlying transactions. It shall be subject to the opinion of an independent audit body and be provided to the Commission by 15 March of the year following the budgetary year concerned. The European Court of Auditors, notably through the Contact Committee of the Supreme Audit Institutions of the European Union, shall assess the prerequisite content and methodology of national declarations and shall issue guidelines for their establishment. Where a Member State has provided a national declaration in accordance with the above provisions, this shall be taken into account in the establishment of the Commission’s audit and control strategies and the establishment of risk at Member States’ level in accordance with Article 29; it shall be forwarded to the budgetary authority and Article 63(9) shall apply mutatis mutandis.
Amendment 243 #
Proposal for a regulation
Part 1 – article 4 – paragraph 2 a (new)
Part 1 – article 4 – paragraph 2 a (new)
2a. The budget shall record the guarantee for borrowing-and-lending operations entered into by the Union and payments to the Guarantee Fund for external actions.
Amendment 247 #
Proposal for a regulation
Part 1 – article 9 – paragraph 2 – point b a (new)
Part 1 – article 9 – paragraph 2 – point b a (new)
(ba) amounts corresponding from an own resource system;
Amendment 266 #
Proposal for a regulation
Part 1 – article 23 – paragraph 1 – point b
Part 1 – article 23 – paragraph 1 – point b
(b) transfer payment appropriations within each title after prior notification to Parliament and Council provided that neither of them opposes the transfer within three weeks;
Amendment 269 #
Proposal for a regulation
Part 1 – article 23 – paragraph 1 – point d
Part 1 – article 23 – paragraph 1 – point d
(d) as regards operational expenditure, transfer appropriations between chapters within the same title, up to a maximum total of 10 % of the appropriations for the year shown on the line from which the transfer is made after notification to Parliament and Council.
Amendment 271 #
Proposal for a regulation
Part 1 – article 24 – paragraph 4 – point c
Part 1 – article 24 – paragraph 4 – point c
(c) European Parliament and the Councilboth arms of the budgetary authority refrain from acting or have not taken a decision contrary to the Commissinstitutions' proposal.
Amendment 272 #
Proposal for a regulation
Part 1 – article 25 – paragraph 2 – subparagraph 2
Part 1 – article 25 – paragraph 2 – subparagraph 2
The procedure provided for in Article 24(3) and (4) shall apply. If the Commission proposal is not agreed to by the European Parliament and the Councilboth arms of the budgetary authority and there is a failure to arrive at a common position on the use of this reserve, the European Parliament and the Councilboth arms of the budgetary authority shall refrain from acting on the Commission's proposal of transfers.
Amendment 274 #
Proposal for a regulation
Part 1 – article 27 – paragraph 1 a (new)
Part 1 – article 27 – paragraph 1 a (new)
1a. During the budgetary procedure, the Commission shall, upon a request from at least one part of the budgetary authority or if there are significant changes, provide the necessary information for a comparison between changes in the appropriations required and the initial forecasts made in the financial statements. This information shall include progress made and the stage reached by the legislative authority in its consideration of proposals presented. The appropriations required shall, where appropriate, be revised in the light of the progress of deliberations on the basic act.
Amendment 276 #
Proposal for a regulation
Part 1 – article 28 – paragraph 2 a (new)
Part 1 – article 28 – paragraph 2 a (new)
Amendment 279 #
Proposal for a regulation
Part 1 – article 29 – title
Part 1 – article 29 – title
Tolerable risk of error Statistical error rate
Amendment 281 #
Proposal for a regulation
Part 1 – article 29 – paragraph 1
Part 1 – article 29 – paragraph 1
Amendment 283 #
Proposal for a regulation
Part 1 – article 29 – paragraph 2
Part 1 – article 29 – paragraph 2
Amendment 284 #
Proposal for a regulation
Part 1 – article 29 – paragraph 3
Part 1 – article 29 – paragraph 3
Amendment 290 #
Proposal for a regulation
Part 1 – article 34 – paragraph 2 – subparagraph 1
Part 1 – article 34 – paragraph 2 – subparagraph 1
Amendment 291 #
Proposal for a regulation
Part 1 – article 34 – paragraph 2 a (new)
Part 1 – article 34 – paragraph 2 a (new)
2a. Upon request of at least one part of the budgetary authority, the Commission shall provide, in support of the draft budget, documents specified in the delegated acts;
Amendment 292 #
Proposal for a regulation
Part 1 – article 34 – paragraph 3
Part 1 – article 34 – paragraph 3
3. The Commission shall also attach to the draft budget any further working paper it considers useful to support its budget requests.
Amendment 295 #
Proposal for a regulation
Part 1 – article 37 – paragraph 1 a (new)
Part 1 – article 37 – paragraph 1 a (new)
1a. The Presidency of the Council shall declare the budget finally adopted in accordance with their internal procedure.
Amendment 302 #
Proposal for a regulation
Part 1 – article 46 – paragraph 1 – point e a (new)
Part 1 – article 46 – paragraph 1 – point e a (new)
(ea) all revenue and expenditure under the respective European Development Funds shall be entered under a special budget heading within the Commission section.
Amendment 305 #
Proposal for a regulation
Part 1 – article 55 – paragraph 1 – point b – subpoint viii
Part 1 – article 55 – paragraph 1 – point b – subpoint viii
(viii) persons entrusted with the implementation of specific actions in the Common Foreign and Security Policy pursuant to Title V of the Treaty on the European Union, and identified in the relevant basic act within the meaning of Article 51 of this Regulation.
Amendment 307 #
Proposal for a regulation
Part 1 – article 55 a (new)
Part 1 – article 55 a (new)
Article 55a Where provided for in the relevant basic acts, the Commission may use sectoral or general budget support within a third country if: (a) the partner country's management of public spending is sufficiently transparent, reliable and effective, and; (b) where the partner country has put in place properly formulated sectoral or macroeconomic policies approved by its principal donors, including, where relevant, the international financial institutions.
Amendment 308 #
Proposal for a regulation
Part 1 – article 55 b (new)
Part 1 – article 55 b (new)
Article 55b The Commission may harmonise hedging operations in order to reduce the interest rate, cash-flow or foreign currency risks. Those operations shall rely on appropriate instruments and shall not seek speculative purposes.
Amendment 314 #
Proposal for a regulation
Part 1 – article 56 – paragraph 2 – subparagraph 1
Part 1 – article 56 – paragraph 2 – subparagraph 1
Member States shall prevent, detect and correct irregularities and fraud when executing tasks related to the implementation of the budget. To this end they shall carry out in accordance with the principle of proportionality, ex ante and ex post controls including, where appropriate, on the spot checks, to ensure that the actions financed from the budget are effectively carried out and implemented correctly,. They shall also recover funds unduly paid and bring legal proceedings as necessary. As far as Member States immediately disclose errors and / or irregularities they discover to the Commission and remedy these, they may be exempt from financial corrections concerning such errors and / or irregularities.
Amendment 320 #
Proposal for a regulation
Part 1 – article 56 – paragraph 3 – subparagraph 1
Part 1 – article 56 – paragraph 3 – subparagraph 1
In accordance with thecriteria and procedures laid down in sector-specific rules, a Member States authority shall accredit one or more public sector bodies which shall be solelybodies responsible for the proper management and control of the funds, for which accreditation has been grantedUnion funds. This shall be without prejudice to the possibility for these bodies to carry out tasks not related to the management of Union funds or to entrust certain of their tasks to other bodies.
Amendment 322 #
Proposal for a regulation
Part 1 – article 56 – paragraph 3 – subparagraph 2
Part 1 – article 56 – paragraph 3 – subparagraph 2
The accreditation shall be given by a Member State authority in accordance with sector-specific rules ensuring that the body is capable of properly managing the funds. The sector-specific rules mayshall also define a role of the Commission in the accreditation process.
Amendment 324 #
Proposal for a regulation
Part 1 – article 56 – paragraph 3 – subparagraph 3
Part 1 – article 56 – paragraph 3 – subparagraph 3
The accrediting authority shall be responsible for supervising the body and for taking all necessary measures to remedy any deficiency in its opmonitoring compliance of the accredited bodies with the accreditation criteria, on the basis of available audits and control results. The accrediting authority shall take all necessary measures to remedy any deficiency in the implementation of the tasks entrusted by the bodies it has accredited, including the suspension and withdrawal of the accreditation. The accredited bodies in the Member States shall: - conduct checks and put in place an effective and efficient internal control system, and - provide the Commission by 1 March of the following year with: (a) their annual accounts drawn up for the expenditure made in the execution of the tasks entrusted and presented to the Commission for reimbursement including the sums disbursed to the beneficiaries for which recovery procedures are under way; (b) a summary of the results of available audits and checks carried out, including an analysis of systemic or recurrent weaknesses as well as corrective actions taken or planned and their results; (c) a management declaration, signed at the ministerial level, providing reasonable assurance that: (i) the information contained in the accounts presents a true and fair view; (ii) the expenditure referred in the accounts has been used for its intended purpose and in accordance with the principle of sound financial management; (iii) the control procedures put in place give the necessary guarantees concerning the legality and regularity of the underlying transactions. These documents shall be accompanied by an opinion of an independent audit body, drawn up in accordance with the internation, including the suspension and withdrawal of the accreditation. ally accepted audit standards, on the contents of the management declaration. The audit body shall report if the examinations puts in doubt the assertions made in the management declaration. An annex to the opinion shall present the error rate per funds and an analysis of the errors as well as reservations. - ensure in conformity with Article 31(2), annual ex post publication of recipients of Union funds; - ensure a protection of personal data which satisfies the principles laid down in Directive 95/46/EC; If a member state has accredited more than one body with responsibility for ex ante and ex post verifications per policy area, it shall by 15 March of the following financial year provide the Commission with a synthesis report consisting of an overview at national level of all management declarations of assurance and the independent audit opinions thereon, prepared for the policy area concerned. The Member States shall bring legal proceedings as necessary and appropriate. As far as member states disclose errors and / or irregularities they discover immediately to the Commission and remedy these, they may be exempt from financial corrections concerning such errors and / or irregularities.
Amendment 326 #
Proposal for a regulation
Part 1 – article 56 – paragraph 4 – introductory part
Part 1 – article 56 – paragraph 4 – introductory part
4. BIn accordance with their functions, bodies accredited pursuant to paragraph 3 of this Article shall:
Amendment 328 #
Proposal for a regulation
Part 1 – article 56 – paragraph 4 – point b
Part 1 – article 56 – paragraph 4 – point b
(b) use an annual accounting system providing accurate, complete and reliable information in a timely manner;
Amendment 330 #
Proposal for a regulation
Part 1 – article 56 – paragraph 4 – point c
Part 1 – article 56 – paragraph 4 – point c
Amendment 332 #
Proposal for a regulation
Part 1 – article 56 – paragraph 4 – point d
Part 1 – article 56 – paragraph 4 – point d
(d) ensure, ex post publication of recipients of Union funds in conformity with Article 31(2), annual ex post publication of recipients of Union fundsd protection of personal data which satisfies the principles laid down in Directive 95/46/EC;
Amendment 334 #
Proposal for a regulation
Part 1 – article 56 – paragraph 4 – point f
Part 1 – article 56 – paragraph 4 – point f
Amendment 337 #
Proposal for a regulation
Part 1 – article 56 – paragraph 5
Part 1 – article 56 – paragraph 5
Amendment 351 #
Proposal for a regulation
Part 1 – article 56 – paragraph 6 a (new)
Part 1 – article 56 – paragraph 6 a (new)
6a. The Commission may decide to lift all or part of the interruption or suspension on payments after a Member State has presented its observations. The decision to lift the interruption or suspension shall be annexed to the annual activity report of the competent authorising officer by delegation.
Amendment 355 #
Proposal for a regulation
Part 1 – article 56 – paragraph 6 b (new)
Part 1 – article 56 – paragraph 6 b (new)
6b. Member States shall provide a national declaration on the expenditure made under the system of shared management. This declaration shall be signed at the ministerial level, and be based on the information to be provided under paragraph 5(c), and shall at least cover the effective functioning of the internal control systems in place and the legality and regularity of the underlying transactions. It shall be subject to the opinion of an independent audit body and be provided to the Commission by 15 March of the year following the budgetary year concerned. The European Court of Auditors, notably through the Contact Committee of the Supreme Audit Institutions of the European Union, shall assess the prerequisite content and methodology of national declarations and shall issue guidelines for their establishment. Where a Member State has provided a national declaration in accordance with the above provisions, this shall be taken into account in the establishment of the Commission’s audit and control strategies and the establishment of risk at Member States’ level in accordance with Article 29 it shall be forwarded to the budgetary authority in mutatis mutandis application of Article 63(9).
Amendment 378 #
Proposal for a regulation
Part 1 – article 91 – paragraph 1
Part 1 – article 91 – paragraph 1
Subject to the prior agreement of the institutions and Member States concerned, any transmission of documents between institutionsthem may be done by electronic means.
Amendment 379 #
Proposal for a regulation
Part 1 – article 91 a (new)
Part 1 – article 91 a (new)
Article 91a Electronic Government (e-government) 1. The Commission, in cooperation with other Institutions, executive agencies as well as entities referred to in Article 200, shall establish and apply uniform standards for electronic information supplied to third parties in the process of procurements and grants procedures. It shall, to the greatest possible extent, design and apply uniform standards for the submission, storage and processing of data submitted in grants and procurement procedures, and to this end, shall designate a single ‘electronic data interchange area’ for potential beneficiaries, beneficiaries or candidates and tenderers. The established standards shall be applied by all Institutions and the referred above agencies and bodies. 2. The Commission shall report to Parliament and Council on the progress of the implementation of this provision within two years after the entry of application of this Regulation and regularly afterwards.
Amendment 384 #
Proposal for a regulation
Part 1 – article 93 – paragraph 4
Part 1 – article 93 – paragraph 4
4. Each year the institution shall forward a report to the discharge authority containing a summary of the number and type of internal audits carried out, the recommendations made and the action taken on those recommendations and internal audit reports shall be made available to the discharge authorities on request.
Amendment 398 #
Proposal for a regulation
Part 1 – article 116 a (new)
Part 1 – article 116 a (new)
Article 116a For the purposes of this Regulation, simplified procedures shall apply to low value grants, the single threshold of which shall be determined in the delegated act.
Amendment 399 #
Proposal for a regulation
Part 1 – article 117 – paragraph 3 a (new)
Part 1 – article 117 – paragraph 3 a (new)
Amendment 403 #
Proposal for a regulation
Part 1 – article 117 – paragraph 4 a (new)
Part 1 – article 117 – paragraph 4 a (new)
4a. For the purpose of this Title, profit shall be defined as follows: (a) in the case of a grant for an action, profit means a surplus of earmarked receipts over the eligible costs incurred by the beneficiary, when the request is made for final payment. Provided that the co- financing principle is respected, the beneficiary may substitute other source of funding from thirs parties to its own financial resources; Earmarked receipts may consist in income generated by the action and financial transfers from third parties assigned to the eligible costs of the action. (b) in the case of an operating grant, profit means a surplus balance on the eligible operating budget of the beneficiary.
Amendment 410 #
Proposal for a regulation
Part 1 – article 122 – paragraph 1 a (new)
Part 1 – article 122 – paragraph 1 a (new)
1a. Reasonable time limits for processing applications shall be laid down in the sectorial regulations or in the delegated act and shall not be contradictory.
Amendment 415 #
Proposal for a regulation
Part 1 – article 125– paragraph 1 a (new)
Part 1 – article 125– paragraph 1 a (new)
Guarantees shall not be required in the case of low value grants or in other circumstances laid down in the delegated act.
Amendment 417 #
Proposal for a regulation
Part 1 – article 126 – paragraph 1
Part 1 – article 126 – paragraph 1
1. The amount of the grant shall not become final until after the competent authorising officer responsibleby delegation has accepted the final reports and accounts, without prejudice to subsequent checks by the institution, to be carried out in a timely manner and agreed upon in good faith by the institution and the beneficiary in advance.
Amendment 420 #
Proposal for a regulation
Part 1 – article 126 a (new)
Part 1 – article 126 a (new)
Article 126a Beneficiaries shall keep records, supporting documents, statistical records and other records pertinent to a grant for the periods laid down in the delegated act.
Amendment 424 #
Proposal for a regulation
Part 1 – article 130 – paragraph 1
Part 1 – article 130 – paragraph 1
1. For the purpose of this Regulation, ‘'financial instruments’' shall mean Union measures of financial support provided from the budget in order to address aone or more specific policy objectives by way of loans, including loans with interest rate rebates, guarantees, equity or quasi-equity investments or participations, or other risk- bearing instruments, possibly combined with grants. The risk exposure resulting from the implementation of financial instruments shall in all cases be pre-defined. The following definitions shall apply: (a) 'loan' means an agreement which obliges the lender to make available to the borrower a sum of money in the agreed amount. The borrower is obliged to repay the loan made available to him at the due date. Usually the borrower is obliged to pay interest owed; (b) 'interest rate rebates' means a subsidy on the interests of loans; (c) 'guarantee' means a written commitment to be responsible for the debt of a third party in an event of default; (d) ‘equity investment’ means the provision of capital to a firm by an investor in return for partial ownership of that firm where, in addition, this investor may assume some management control of the firm and may share in future profits; (e) ‘quasi-equity investment’ means a type of financing that involves a mix of equity and debt, where the equity allows investors to achieve a high rate of return upon the success of the company or where the debt component entails a premium price contributing to the return of the investor (e.g. mezzanine debt or subordinated debt); (f) ‘risk-sharing instrument’ means a financial instrument which guarantees the total or partial coverage of a defined risk, if possible in exchange for an agreed remuneration.
Amendment 428 #
Proposal for a regulation
Part 1 – article 131 – paragraph 1
Part 1 – article 131 – paragraph 1
1. Financial instruments shall be provided to final recipients of Union funds in accordance with the principles of sound financial management, transparency, proportionality, non-discrimination and equal treatment and in accordance with the objectives established in the basic act that applies to those financial instruments.
Amendment 430 #
Proposal for a regulation
Part 1 – article 131 – paragraph 1 a (new)
Part 1 – article 131 – paragraph 1 a (new)
1a. Financial instruments shall comply with the following conditions: (a) added value of the Union intervention, which means that financial instruments shall facilitate the achievement of the EU goals on a larger scale and more efficiently than using comparable national instruments; (b) they shall be implemented in order to address sub-optimal investment situations, including high innovation risk or market failures that give rise to insufficient funding from market sources; (c) additionality, which means that financial instruments of the EU shall complement and not aim at replacing those of a Member State, private funding or another financial EU intervention where ever such alternative instruments exist; d) financial instruments shall be implemented in a way which does not distort competition in the internal market; (e) they shall have a multiplier effect, which means that the Union contribution to a financial instrument shall mobilize a global investment exceeding the size of the Union contribution; f) good governance, meaning that in the implementation of the financial instruments the Commission shall endeavour to assure that the entrusted entities shall align with the EU's interests, using appropriate incentives and enhanced controls.
Amendment 431 #
Proposal for a regulation
Part 1 – article 131 – paragraph 1 b (new)
Part 1 – article 131 – paragraph 1 b (new)
1b. Revenues and repayments under a financial instrument shall constitute internal assigned revenue according to Article 18(3) and shall be carried over automatically with a view to being re- invested.
Amendment 432 #
Proposal for a regulation
Part 1 – article 131 – paragraph 2
Part 1 – article 131 – paragraph 2
2. Without prejudice to points (d) and (e) of aArticle 46(1), the budgetary expenditure linked to a financial instrument shall be kept within the relevant budgetary commitment made for iand the financial responsibility of the Union shall not exceed the amount of within the relevant budgetary commitment made for it, thus excluding contingent liabilities for the Union budget.
Amendment 433 #
Proposal for a regulation
Part 1 – article 131 – paragraph 3
Part 1 – article 131 – paragraph 3
3. FThe entities referred to in point (iii) and (iv) of Article 55(1)(b) and all financial intermediaries involved in the execution of financial operations under a financial instrument shall comply with relevant standards on the prevention of money laundering and fight against terrorism. They shall not be established and/or shall not interact with entities incorporated in territories whose jurisdictions do not co- operate with the Union in relation to the application of internationally agreed tax standards.
Amendment 434 #
Proposal for a regulation
Part 1 – article 131 – paragraph 4
Part 1 – article 131 – paragraph 4
4. Each agreement between an entity referred to in point (iii) and (iv) of Article 55(1)(b) and a financial intermediary referred to in paragraph 3 shall provide expressly foraccess of the Commission and the Court of Auditors to exercise their powers of control, on documents and on the premises and on informationdocuments, premises and to any requested information, related to the implementation of the financial instruments, even stored on electronic media, overthat should be provided by all third parties who have received Union funds.
Amendment 435 #
Proposal for a regulation
Part 1 – article 131 a (new)
Part 1 – article 131 a (new)
Article 131a Hedging operations, related to financial instruments shall be allowed to the entities entrusted for indirect management, in order to reduce the interest rate, exchange rate or cash flow risks. Those operations shall rely on appropriate instruments, providing efficiency and shall not seek speculative purposes.
Amendment 436 #
Proposal for a regulation
Part 1 – article 131 b (new)
Part 1 – article 131 b (new)
Article 131b The Commission shall report annually to the budgetary authority on the activities supported by financial instruments, on the financial institutions involved in their implementation, on the performance of financial instruments, including reinvestments realised, balance on the trust accounts, revenues and repayments, multiplier effect achieved, and value of participations. The Commission shall attach its report to the synthesis report referred to in Article 63(9).
Amendment 440 #
Proposal for a regulation
Part 1 – article 135 a (new)
Part 1 – article 135 a (new)
Article 135a Where, in a specific case, the accounting officers consider that an exception should be made to the content of one of the accounting principles, defined in Articles 187 to 194, that exception shall be duly substantiated and reported in the annex to the financial statements referred to in Article 136.
Amendment 457 #
Proposal for a regulation
Part 1 – article 150 – paragraph 2 – subparagraph 1
Part 1 – article 150 – paragraph 2 – subparagraph 1
In the performance of its task, the Court of Auditors shall be entitled to consult, in the manner provided for in Article 152, all documents and information relating to the financial management of departments or bodies with regard to operations financed or co-financed by the Union. It shall have the power to make enquiries of any official responsible for a revenue or expenditure operation and to use any of the auditing procedures appropriate to the aforementioned departments or bodies. The audit in the Member States shall be carried out in conjunctiliaison with the national audit institutionbodies or, where they do not have the necessary powers, with the competent national departments responsible. The Court of Auditors and the national audit bodies of the Member States shall cooperate in a spirit of trust while maintaining their independence.
Amendment 467 #
Proposal for a regulation
Part 2 – article 167 – paragraph 1
Part 2 – article 167 – paragraph 1
1. Parts One and Three of this Regulation shall apply to expenditure effected by the authorities and bodies referred to in the Regulation (EC) No 1290/2005 on European Agricultural Fund for Rural Development, Regulation (EC) No 1080/2006 of the European Parliament and of the Council23 on the European Regional Development Fund, Regulation (EC) No 1081/2006 of the European Parliament and of the Council24 on the European Social Fund, Council Regulation (EC) No 1084/200625 on the Cohesion Fund, Council Regulation (EC) No 1198/200626 on the European Fisheries Fund, and funds in the area of Freedom, Security and Justice, including the Funds under the "Solidarity and Management of Migration Flows" Programme, managed in shared management pursuant to Article 56 of this Regulation, (hereinafter the ‘Funds’), and to their revenue, save as otherwise provided in this Title.
Amendment 479 #
Proposal for a regulation
Part 3 – article 201 – paragraph 2
Part 3 – article 201 – paragraph 2
Those rules shall include a set of principles necessary to ensure sound financial management of Union funds, and be based on Article 57 and a model financial regulation adopted by the Commission and after consulting the Court of Auditors by means of a delegated act in accordance with Articles 202, 203 and 204.