European Commission 3 March 2014, Commission Delegated Regulation (EU) No 480/2014 of 3 March 2014 supplementing Regulation (EU) No 1303/2013 of the European Parliament and of the Council laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund

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European Union · · · Cited by 209 · 03-03-2014

CHAPTER I. GENERAL PROVISIONS
Article 1. Subject matter
CHAPTER II. PROVISIONS SUPPLEMENTING PART TWO OF REGULATION (EU) No 1303/2013 APPLICABLE TO THE ESI FUNDS
SECTION I. Criteria for determining the level of financial correction to be applied under the performance framework
Article 2. Determination of the level of financial correction
Article 3. Level of financial correction
SECTION II. Financial instruments
Article 4. Specific rules on the purchase of land
Article 5. Combination of technical support with financial instruments
Article 6. Specific rules on the role, liabilities and responsibility of bodies implementing financial instruments
Article 7. Criteria for the selection of bodies implementing financial instruments
Article 8. Specific rules on guarantees delivered through financial instruments
Article 9. Management and control of financial instruments set up at national, regional transnational or cross-border level
Article 10. Rules for withdrawal of payments to financial instruments and consequent adjustments in respect of applications for payment
Article 11. System of capitalisation of annual instalments for interest rate subsidies and guarantee fee subsidies
Article 12. Criteria for determining management costs and fees on the basis of performance
Article 13. Thresholds for management costs and fees
Article 14. Reimbursement of capitalised management costs and fees for equity-based instruments and micro-credit
SECTION III. Method for calculating the discounted net revenue of operations generating net revenue
Article 15. Method for calculating discounted net revenue
Article 16. Determination of revenues
Article 17. Determination of costs
Article 18. Residual value of the investment
Article 19. Discounting of cash flows
SECTION IV. Definition of the flat rates for indirect costs and related methods applicable in other Union policies
Article 20. Flat rate financing for indirect costs based on Regulation (EU) No 1290/2013
Article 21. Flat rate financing for indirect costs based on Regulation (EU, Euratom) No 966/2012
CHAPTER III. PROVISIONS SUPPLEMENTING PART THREE REGULATION (EU) No 1303/2013 APPLICABLE TO THE ERDF AND THE COHESION FUND AS REGARDS THE METHODOLOGY TO BE USED FOR CARRYING OUT THE QUALITY REVIEW OF MAJOR PROJECTS
Article 22. Requirements for independent experts carrying out the quality review
Article 23. Quality review of major projects
CHAPTER IV. PROVISIONS SUPPLEMENTING PART FOUR OF REGULATION (EU) No 1303/2013 APPLICABLE TO THE ERDF, THE ESF, THE COHESION FUND AND THE EMFF
SECTION I. Data to be recorded and stored in computerised form
Article 24. Data to be recorded and stored in computerised form
SECTION II. The audit trail and use of the data collected during audits
Article 25. Detailed minimum requirements for the audit trail
Article 26. Use of the data collected during audits carried out by Commission officials or authorised Commission representatives
SECTION III. Scope and content of audits of operations and accounts and methodology for the selection of the sample of operations
Article 27. Audits of operations
Article 28. Methodology for the selection of the sample of operations
Article 29. Audits of accounts
SECTION IV. Financial corrections by the Commission in relation to systems deficiencies
Article 30. Criteria for determining serious deficiencies in the effective functioning of management and control systems
Article 31. Criteria for applying flat rates or extrapolated financial corrections and criteria for determining the level of financial correction
Article 32.
ANNEX I. Reference periods as referred to in Article 15(2)

13.5.2014

Official Journal of the European Union

L 138/5

COMMISSION DELEGATED REGULATION (EU) No 480/2014

of 3 March 2014

supplementing Regulation (EU) No 1303/2013 of the European Parliament and of the Council laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural

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