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Art.7 |
ARTICLE VII |
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Art.7.1 |
1. The Commission shall adopt its financial rules. |
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Art.7.2 |
2. The Commission shall adopt a two years budget of proposed expenditures and budget estimates for the fiscal period following thereafter. |
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Art.7.3 |
3. The total amount of the budget including any supplementary budget shall be contributed by the Contracting Parties according to the following formula: |
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Art.7.3.a |
a) one-third of the budget shall be divided equally among the Contracting Parties, |
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Art.7.3.b |
b) two-third of the budget shall be divided in proportion to the TACs available to the Contracting Parties in accordance with the Financial regulations for the Commission |
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Art.7.4 |
4. Each Contracting State shall pay the expenses related to the participation in the Commission of its representatives, experts and advisers. |
