Examples of Contingency Margin in a sentence
The mobilisation of the Contingency Margin, or part thereof, shall be proposed by the Commission after a thorough analysis of all other financial possibilities.
Article 13(1) of the MFF Regulation defines the Contingency Margin as a last resort instrument to react to unforeseen circumstances.
Points 9 to 13 correspond to points 10 to 14 of the current IIA and define the procedures applicable for the mobilisation of the following special instruments which are set out in the MFF Regulation: European Globalisation Adjustment Fund, European Union Solidarity Fund, Emergency Aid Reserve, Flexibility Instrument and Contingency Margin.
The Commission shall accompany the proposal for the mobilisation of the Contingency Margin by a proposal for reallocation, by a significant amount as far as supported by the analysis, within the existing budget.
Article 13(3) of the MFF Regulation requires that amounts made available through the mobilisation of the Contingency Margin shall be fully offset against the margins for the current or future financial years.According to Article 13(4) of the MFF Regulation, the amounts offset shall not be further mobilised in the context of the MFF so that the total ceilings of commitment and payment appropriations laid down in the MFF for the current and future financial years shall not be exceeded.
Council Regulation (EU, EURATOM) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20201 (‘MFF Regulation’) allows for the mobilisation of the Contingency Margin of up to 0,03 % of Gross National Income for the EU-28 to react to unforeseen circumstances as a last resort instrument.
The Commission proposes to mobilise EUR 481,6 million through the Contingency Margin to cover the additional needs related to the continuation of urgent humanitarian support to refugees in Turkey.The corresponding payment appropriations will be accommodated within the ceiling for payments.
The decision to mobilise the Contingency Margin shall be taken jointly by the two arms of the budgetary authority simultaneously with the approval of the amemding or annual budget the adoption of which it facilitates.
Given the very low margin in heading 4 (created by the transfer of the EU Special Representatives from heading 4 to heading 5, Administration), most of this increase in commitment appropriations is financed through a corresponding mobilisation of the Contingency Margin to be offset in 2017 against the unallocated margins of heading 2, Sustainable Growth: Natural Resources and in 2018-2019 against the unallocated margins of heading 5.
However, the split of provisions on the Contingency Margin corresponds to the logic of the March 2010 proposals – i.e. maintaining in the IIA all the provisions related to the special instruments outside the financial framework.