Article 14 Selection Criteria
United Kingdom
The competent bodies shall comply with the rules laid down in Regulation (EC, Euratom) No 1605/2002 and Regulation (EC, Euratom) No 2342/2002 as well as with the provisions laid down in the present Regulation.
The competent bodies shall meet at least the following criteria:
they shall be national public-sector bodies or private-law entities with a public-service mission, governed by the law of one of the Member States;
they shall offer adequate financial guarantees, issued by a public authority, in particular as regards full recovery of amounts due to the Commission;
they shall operate according to the requirements of sound financial management;
they shall ensure the transparency of the operations carried out in accordance with Article 56(1) of Regulation (EC, Euratom) No 1605/2002.