Article 13

In the case of undue payment, the beneficiary shall be obliged to reimburse the amounts in question plus interest calculated on the basis of the time elapsing between payment and reimbursement by the beneficiary.

The interest rate applicable shall be the rate applied by the European Monetary Cooperation Fund to its operations in ecus, as published in the ‘C’ series of the Official Journal of the European Communities, in force on the date of the undue payment, plus three percentage points.

Amounts recovered, together with interest, shall be paid to the disbursing agencies or departments and deducted by the latter from expenditure financed by the European Agricultural Guidance and Guarantee Fund.