1 Amendments of Luke Ming FLANAGAN related to 2017/0024(NLE)
Amendment 5 #
Proposal for a regulation
Recital 5
Recital 5
(5) It is therefore necessary to amend the Statutes in order to enable BIC and its constituent entities to deliver the financial contribution for the full amount set out in Article 12(4) of the Statutes, allowing those contributions to be made not only as payments to the BBI Joint Undertaking but also as financial contributions to indirect actions funded by the BBI Joint Undertaking and to be reported to the BBI Joint Undertaking,. A follow-up audit should, however, be conducted as soon as possible in order to ensure that the BIC continues to meet its commitments following implementation of this Regulation.