Brexit Withdrawal Agreement Payments

In the event of late payment from the United Kingdom to the Union or from the Union to the United Kingdom, interest shall be due in accordance with Article 12 of Regulation (EU, Euratom) No 609/2014. The Union shall be liable to the United Kingdom for its share in subsequent recoveries related to the payments referred to in the first subparagraph. Regulation (EU) 2016/1076 of the European Parliament and of the Council of 8 June 2016 on the application of the arrangements applicable to products originating in certain States which are part of the African, Caribbean and Pacific (ACP) Group of States provided for in agreements implementing Economic Partnership Agreements or Economic Partnership Agreements (36) 5. The reasonable period may be extended by mutual agreement between the Union and the United Kingdom. The communication shall indicate the provisions which the complainant intends to suspend. Before deciding to suspend certain parts of an agreement referred to in point (b), the complainant shall first consider whether suspending the determination of that agreement in accordance with point (a) would constitute an appropriate response to the infringement. Any suspension shall be proportionate to the infringement in question, taking into account the gravity of the infringement and the rights in question and, if the suspension is based on the fact that the respondent continues not to comply with the decision of the arbitration panel referred to in Article 173, whether the respondent has been ordered to pay a periodic penalty payment and whether it has been or is still being paid by the respondent. framework agreements concluded at the end of the transitional period in accordance with a procedure covered by point (a) of this paragraph. The union`s consolidated financial statements for the years 2019 and 2020 shall show payments under the provisions referred to in point (b) of the second subparagraph from the date of entry into force of this Agreement until 31 December 2019 and until 31 December 2020, for the same financial transactions as those provided for in this paragraph, but which are decided on the day or after their entry into force; Disclosed.

of this agreement. This paragraph shall apply, except and until an agreement under Article 184, which replaces this paragraph, enters into force or becomes applicable. 2. If the Union and the United Kingdom fail to reach an agreement, within forty-five days of the filing of the notification, as to whether the notified measure brings the responding Party into conformity with the provisions of this Agreement, either Party may request in writing the original arbitration panel to rule on the matter. . . .

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