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TREATY ESTABLISHING A CONSTITUTION FOR EUROPE
PART-III: THE POLICIES AND FUNCTIONING OF THE UNION
TITLE-VI: THE FUNCTIONING OF THE UNION
CHAPTER-II: FINANCIAL PROVISIONS
SECTION-2: THE UNION'S ANNUAL BUDGET
ARTICLE III-405
| ARTICLE III-405 |
| 1. | If at the beginning of a financial year no European law establishing the budget has been definitively adopted, a sum equivalent to not more than one twelfth of the budget appropriations entered in the chapter in question of the budget for the preceding financial year may be spent each month in respect of any chapter in accordance with the European law referred to in Article III-412; that sum shall not, however, exceed one twelfth of the appropriations provided for in the same chapter of the draft budget. |
| 2. |
The Council, on a proposal by the Commission and in compliance with the other conditions laid down in paragraph 1, may adopt a European decision authorising expenditure in excess of one twelfth, in accordance with the European law referred to in Article III-412. The Council shall forward the decision immediately to the European Parliament.
The European decision shall lay down the necessary measures relating to resources to ensure application of this Article, in accordance with the European laws referred to in Article I-54(3) and (4).
It shall enter into force thir ty days following its adoption if the European Parliament, acting by a majority of its component members, has not decided to reduce this expenditure within that timelimit.
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- Referred by:
- ARTICLE III-395