Vol. 540 No. 3
125 Mr. N. Ahern asked the Minister for Finance if he will clarify the situation regarding the Nice treaty and the financial regulation to become operable from 2007; and if the proposals, their effects and purpose can be outlined and clarified. [20740/01]
Article 279 of the treaty establishing the European Community provides for Council of Ministers decisions on the financial regulation on the Community budget. At present, Council decisions under the article are subject to unanimity.
As stated in Appendix 5 to the Government's White Paper on the Treaty of Nice, Article 279 is among those articles which, under the Treaty of Nice, would become subject to qualified majority voting. The qualified majority voting would apply to the Article from 1 January 2007.
Decisions made under the article relate to the financial regulation on the fundamental principles applying to the EU budget. More specifically, the regulation details the main rules for the establishment of the budget and its implementation, including accounting and bookkeeping procedures; defines the roles and responsibilities of those involved in the budget implementation; and outlines the parameters for the monitoring and control of the budget implementation, including by the Court of Auditors and the European Parliament.
Decisions on the regulation are made by Council on a Commission proposal, after consulting the Parliament, and after obtaining the opinion of the Court of Auditors.
