# Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure, Article 10

Extent: E+W+S+N.I.

1. The Council and the Commission shall regularly monitor the implementation of action taken:
by the Member State concerned in response to recommendations made under Article 126(7),
by the participating Member State concerned in response to notices given under Article 126(9).
2. If action by a participating Member State is not being implemented or, in the Council's view, is proving to be inadequate, the Council shall immediately take a decision under Article 126(9) or Article 126(11) respectively.
3. If actual data pursuant to Regulation (EC) No 479/2009 indicate that an excessive deficit has not been corrected by a participating Member State within the time limits specified either in recommendations issued under Article 126(7) or notices issued under Article 126(9), the Council shall immediately take a decision under Article 126(9) or Article 126(11) respectively.

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Source: https://www.legislation.gov.uk/eur/1997/1467/article/10 (the official version)
Page: https://openlegislation.uk/eu-regulation-1997-1467/article-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.