Regulation 2018/1877 - Financial regulation applicable to the 11th European Development Fund - Main contents
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official title
Council Regulation (EU) 2018/1877 of 26 November 2018 on the financial regulation applicable to the 11th European Development Fund, and repealing Regulation (EU) 2015/323| Legal instrument | Regulation |
|---|---|
| Number legal act | Regulation 2018/1877 |
| Original proposal | COM(2018)485  |
| CELEX number i | 32018R1877 |
| Document | 26-11-2018; Date of adoption |
|---|---|
| Publication in Official Journal | 03-12-2018; OJ L 307 p. 1-21 |
| Effect | 06-12-2018; Entry into force Date pub. +3 See Art 59 |
| End of validity | 31-12-9999 |
3.12.2018 |
EN |
Official Journal of the European Union |
L 307/1 |
COUNCIL REGULATION (EU) 2018/1877
of 26 November 2018
on the financial regulation applicable to the 11th European Development Fund, and repealing Regulation (EU) 2015/323
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on European Union and the Treaty on the Functioning of the European Union,
Having regard to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States of the one part, and the European Community and its Member States, of the other part, (1) as last amended (‘ACP-EU Partnership Agreement’),
Having regard to the Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union aid under the multiannual financial framework for the period 2014 to 2020, in accordance with the ACP-EU Partnership Agreement, and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the Treaty on the Functioning of the European Union applies (2) (‘the Internal Agreement’), and in particular Article 10(2) thereof,
Having regard to the proposal from the European Commission,
Having regard to the opinion of the Court of Auditors (3),
Having regard to the opinion of the European Investment Bank,
Whereas:
(1) |
Council Regulation (EU) 2015/323 (4) determines detailed rules for the financial implementation of the 11th European Development Fund (‘11th EDF’). Those rules concern, inter alia: the applicable principles; the constitution of the 11th EDF resources; the financial actors and entities entrusted with budget-implementation tasks; the financing decisions, commitments and payments; the funding instruments, including procurement, grants, financial instruments and Union trust funds; the presentation of the accounts and accounting; the external audit by the Court of Auditors and discharge by the European Parliament; and the Investment Facility managed by the European Investment Bank (EIB). |
(2) |
For the sake of simplification and coherence, Regulation (EU) 2015/323 was aligned, as much as possible, with Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council (5) and Commission Delegated Regulation (EU) No 1268/2012 (6). That alignment was achieved by means of direct references to those Regulations and has, on the one hand, allowed for the easy identification of specificities in the financial implementation of the 11th EDF and, on the other hand, reduced the diversity of Union funding rules in the area of external action that creates an unnecessary burden for the recipients, the Commission and other actors involved. |
(3) |
Regulation (EU, Euratom) No 966/2012 and Delegated Regulation (EU) No 1268/2012 have been merged and replaced by a single legal act, Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council (7), which introduced significant changes and improvements and simplified the financial rules applicable to the general budget of the Union. In the interest of simplification, the financial regulation applicable to the 11th EDF should be aligned as much as possible with that Regulation. For reasons of legal clarity and taking into consideration the significant number of amendments required for that alignment, Regulation (EU) 2015/323 should be repealed and replaced by this Regulation. |
(4) |
It is necessary to recall that the framework for the financial implementation of the 11th EDF is constituted by, in addition to this Regulation, the ACP-EU Partnership Agreement, in particular Annex IV thereto, by the Internal Agreement, by Council Decision 2013/755/EU (8) and by Council Regulation (EU) 2015/322 (9). |
(5) |
The financial implementation of the 11th EDF should be... |
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