Article 5

1. Member States shall at regular intervals transmit to the Commission the following documents concerning the authorities and bodies referred to in Article 4 and relating to transactions financed by the Guarantee Section: (a) statements of cash holdings and estimates of financial needs; annual accounts, accompanied by the documents required for making up the balance sheets. 2. The Commission, after consulting the Fund Committee referred to in Article 11, (a) shall decide: - at the beginning of the year, on the basis of the documents referred to in paragraph 1 (a), on an advance payment for the authorities and bodies not exceeding one third of the credits entered in the budget; during the year, on additional payments intended to cover expenditure to be borne by an authority or body; shall, before the end of the following year, on the basis of the documents referred to in paragraph 1 (b), make up the accounts of the authorities and bodies. 3. Detailed rules for the application of this Article shall be adopted in accordance with the procedure laid down in Article 13.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-10 · Text as adopted (Official Journal); later amendments are not incorporated in this text.