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1. |
The budget shall be established in terms of
European Currency Units (ECU) as defined in the Financial Regulations of the
European Communities no. 3180/78 of 18 December 1978.
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2. |
The financial year shall run from 1 January
to 31 December.
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3. |
The annual budget of EUMETSAT shall be
drawn up for each financial year before the beginning of that year under the
conditions laid down in the Financial Rules. The revenue and expenditure shown
in the budget shall be in balance.
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4. |
The Council shall, in conformity with
Article 5.2 (b), adopt the budget for each financial year, as well as any
supplementary and amending budgets.
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5. |
The Council's adoption of the budget shall
constitute:
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(a)
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the obligation for each Member State to make
available to EUMETSAT the financial contributions fixed in the budget;
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(b)
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the authority for the Director to incur
commitments and expenditure within the limit of the corresponding authorised
credits.
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6. |
If the budget has not been adopted by the
Council by the beginning of a financial year, the Director may, each month,
enter into commitments and make payments in each chapter of the budget up to
one twelfth of the appropriations in the budget of the preceding financial
year, provided that he shall not have at his disposal appropriations in excess
of one twelfth of those provided for in the draft budget.
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7. |
Member States shall pay each month, on a
provisional basis and in accordance with the scale referred to in Annex II, the
amounts necessary for the application of paragraph 6.
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8. |
The detail of the financial arrangements
and accounting procedures shall be contained in the financial rules adopted by
the Council in conformity with Article 5.2 (b).
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