# Commission Regulation (EC) No 2304/2002 of 20 December 2002 implementing Council Decision 2001/822/EC on the association of the overseas countries and territories with the European Community ('Overseas Association Decision'), Article 9: Paying agents

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

The financial institutions in the OCTs with which the Commission opens accounts in accordance with the Financial Regulation applicable to the 10th EDF for the purposes of implementing cooperation with the OCTs shall exercise the functions of ‘ Paying Agents ’ .
Interest shall be payable on funds deposited with Paying Agents in the Community.
The Paying Agents shall receive no remuneration for their services and no interest shall be payable on deposited funds.

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Source: https://www.legislation.gov.uk/eur/2002/2304/article/9 (the official version)
Page: https://openlegislation.uk/eu-regulation-2002-2304/article-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.