# Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure, Article 14

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

1. In accordance with Article 126(12), the Council shall abrogate the sanctions referred to in the first and second indents of Article 126(11) depending on the significance of the progress made by the participating Member State concerned in correcting the excessive deficit.

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Source: https://www.legislation.gov.uk/eur/1997/1467/article/14 (the official version)
Page: https://openlegislation.uk/eu-regulation-1997-1467/article-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.