§ Mr. Teddy Taylor
To ask the Chancellor of the Exchequer if he will list the additional powers which the proposed financial regulation (10449/88) proposes to give to the European Commission.
§ Mr. Peter Brooke
[holding answer 19 June 1989]: The Commission's proposed reform of the financial regulation incorporates revisions which allow the Commission to
- (i) decide all transfers of differentiated payment appropriations in the Commission's section of the budget;
- (ii) decide transfers between chapters 29 (export refunds in connection with food aid) and 92 (food aid) of part IIIB of the budget;
- (iii) implement all of the Community's rights and obligations in ecu;
- (iv) prescribe implementing rules to impose penalties, in the form of interest payments, following advances and other payments from the Community Budget which fall to be repaid; and take decisions on the reuse of such advances;
- (v) reuse the proceeds of the sale of buildings;
- (vi) decide, under implementing rules and after consulting all other institutions, on various monetary amounts connected with contracts (amounts hitherto specified in the financial regulation);
- (vii) prescribe implementing rules for the use of electronic management and accounting systems;
- (viii) prescribe implementing rules applicable to the accounting officer and assistant accounting officers;
- (ix) prescribe implementing rules relating to the award of contracts, the keeping of inventories, the system of accounts and imprest accounting, all in connection with Community staff serving outside the Community.