Commission Regulation (EEC) No 1865/90 of 2 July 1990 concerning interest on account of late payment to be charged in the event of late repayment of assistance from the Structural Funds

COMMISSION  REGULATION (EEC) No 1865/90
of 2 July 1990
concerning interest on account of late payment to be charged in the event of late repayment of assistance from the Structural Funds
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to Council Regulation (EEC) No 4253/88 of 19 December 1988 laying down provisions for implementing Regulation (EEC) No 2052/88 as regards coordination of the activities of the different Structural Funds between themselves and with the operations of the European Investment Bank and the other existing financial instruments (1), and in particular Article 24 (3) thereof,
After consulting the Committee for the Development and Reconversion of Regions and the Committee referred to in Article 124 of the Treaty;
Whereas Article 24 (3) of Regulation (EEC) No 4253/88 stipulates that any sum received unduly and to be recovered is to be repaid to the Commission and that interest on account of late payment may be charged on sums not repaid; whereas it also provides that the Commission is to draw up the arrangements for the charging of such interest;
Whereas the foreseen provisions of this Regulation conform with the opinion of the Committee on Agricultural Structures and Rural Development,