Common use of Recovery and enforcement Clause in Contracts

Recovery and enforcement. 1. The European Commission may adopt a decision imposing a pecuniary obligation on a New Zealand entity other than the State in relation to any claims stemming from Union programmes, activities, actions or projects. If, following the notification of that decision to the New Zealand entity in accordance with Article 13, that entity does not pay within the prescribed period, the European Commission shall notify the decision to the competent authority designated by the Government of New Zealand, and the Government of New Zealand shall pay to the European Commission the amount of any pecuniary obligation and seek a refund of the amount from the New Zealand entity on whom the financial obligation is imposed through its agreements with that entity. 2. In order to ensure enforceability of judgments and orders of the Court of Justice of the European Union (CJEU) delivered in application of an arbitration clause contained in a contract or agreement in relation to Union programmes, activities, actions or projects, where such judgments or orders have been notified to the relevant New Zealand entity in accordance with the rules regarding notification of the CJEU, and that entity does not pay the amounts established within a period of two months and ten days, the European Commission shall, on its behalf or on behalf of the relevant Executive Agency or Union bodies set up under the Treaty on the Functioning of the European Union (TFEU), notify the judgment or order of the CJEU to the competent authority designated by the Government of New Zealand and the Government of New Zealand shall pay to the European Commission the amount of any pecuniary obligation and seek a refund of the amount from the New Zealand entity on whom the financial obligation is imposed through its agreements with that entity. 3. The Government of New Zealand shall make known its designated competent authority to the European Commission. 4. The CJEU shall have jurisdiction to review the legality of the decisions of the European Commission referred to in paragraph 1 and to suspend their enforcement.