European Union (Finance) Bill

Explanatory Notes

Commentary on provisions of Bill

14 The Bill has two clauses.

Clause 1

15 Clause 1 provides (a) that the Council decision of 26 May 2014 on the system of own resources of the EU (2014/335/EU, Euratom) is approved for the purposes of subsection (1) of section 7 of the European Union Act 2011(decisions requiring approval by Act of Parliament) and (b) that the new ORD shall be added to the list of Community Treaties in section 1(2) of the European Communities Act 1972, thus allowing payments made by the United Kingdom pursuant to the Decision to be charged directly on the Consolidated Fund or the National Loans Fund under section 2(3) of that Act.

Clause 2

16 Clause 2 repeals the European Communities (Finance) Act 2008 since the wording of section 1(2)(e) of the European Communities Act 1972 substituted by clause 1 of the Bill supersedes that substituted by the 2008 Act.

Prepared 8th June 2015