{
  "url": "https://openlegislation.uk/eu-regulation-2004-550/article-12",
  "json_url": "https://openlegislation.uk/eu-regulation-2004-550/article-12.json",
  "legislation": "eur/2004/550",
  "legislation_title": "Regulation (EC) No 550/2004 of the European Parliament and of the Council of 10 March 2004 on the provision of air navigation services in the single European sky (the service provision Regulation) (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2004-550",
  "path": "article/12",
  "kind": "article",
  "number": "12",
  "heading": "Transparency of accounts",
  "text": "1. Air navigation service providers, whatever their system of ownership or legal form, shall draw up, submit to audit and publish their financial accounts. These accounts shall comply with international accounting standards within the meaning of Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (see Article 2 of that Regulation). Where, owing to the legal status of the service provider, full compliance with the international accounting standards is not possible, the provider shall endeavour to achieve such compliance to the maximum possible extent.\n2. In all cases, air navigation service providers shall publish an annual report and regularly undergo an independent audit.\n3. When providing a bundle of services, air navigation service providers shall identify and disclose the costs and income deriving from air navigation services ... and, where appropriate, shall keep consolidated accounts for other, non-air-navigation services, as they would be required to do if the services in question were provided by separate undertakings.\n4. The national supervisory authority shall have a right of access to the accounts of service providers that provide services within the airspace under the responsibility of the United Kingdom.\n5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Art. 12(1) substituted (31.12.2020) by The Air Traffic Management (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/459), regs. 1(2), 32(2); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Substituted by Regulation (EC) No 1070/2009 of the European Parliament and of the Council of 21 October 2009 amending Regulations (EC) No 549/2004, (EC) No 550/2004, (EC) No 551/2004 and (EC) No 552/2004 in order to improve the performance and sustainability of the European aviation system (Text with EEA relevance)."
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Art. 12(3) omitted (31.12.2020) by virtue of The Air Traffic Management (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/459), regs. 1(2), 32(3); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Art. 12(4) substituted (31.12.2020) by The Air Traffic Management (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/459), regs. 1(2), 32(4)(a); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in Art. 12(4) substituted (31.12.2020) by The Air Traffic Management (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/459), regs. 1(2), 32(4)(b); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Art. 12(5) omitted (31.12.2020) by virtue of The Air Traffic Management (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/459), regs. 1(2), 32(5); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2004/550/article/12",
    "retrieved_at": "2026-11-01T14:55:40.308344+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}