{
  "url": "https://openlegislation.uk/eu-regulation-2007-89/introduction",
  "json_url": "https://openlegislation.uk/eu-regulation-2007-89/introduction.json",
  "legislation": "eur/2007/89",
  "legislation_title": "Council Regulation (EC, Euratom) No 89/2007 of 30 January 2007 amending Council Regulation (EC, Euratom) No 2728/94 establishing a Guarantee Fund for external actions",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2007-89",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Council Regulation (EC, Euratom) No 89/2007\nof 30 January 2007\namending Council Regulation (EC, Euratom) No 2728/94 establishing a Guarantee Fund for external actions\nTHE COUNCIL OF THE EUROPEAN UNION,\nHaving regard to the Treaty establishing the European Community, and in particular Article 308 thereof,\nHaving regard to the Treaty establishing the European Atomic Energy Community, and in particular Article 203 thereof,\nHaving regard to the proposal from the Commission,\nHaving regard to the opinion of the European Parliament,\nHaving regard to the opinion of the Court of Auditors,\nWhereas:\n(1)\nThe efficiency of the use made of budgetary means reserved for the Guarantee Fund established by Council Regulation (EC, Euratom) No 2728/94 should be improved and the administrative work related to the budgetary management of the Guarantee Fund reduced.\n(2)\nThe transparency and programming of budgetary transactions in relation to the provisioning of the Guarantee Fund should be enhanced.\n(3)\nThe Interinstitutional Agreement between the European Parliament, the Council and the Commission on budgetary discipline and sound financial management adopted on 17 May 2006 sets the multiannual financial framework of the European Union for the period 2007 to 2013. Pursuant to the Interinstitutional Agreement, the funding of the Guarantee Fund is provided for as an obligatory expenditure from the general budget of the European Union for that period.\n(4)\nThe main function of the Guarantee Fund, namely to shield the general budget of the European Union against shocks due to defaults on loans or guaranteed loans covered by the Fund, should be maintained.\n(5)\nThe Guarantee Fund covers defaults under loans issued by the European Investment Bank (hereinafter the EIB) for which the Community provides a guarantee under the EIB's external mandate. In addition, in line with the EIB's external mandate as taking effect from 1 February 2007, the Fund should also cover defaults under loan guarantees issued by the EIB for which the Community provides a guarantee.\n(6)\nCouncil Regulation (EC, Euratom) No 2728/94 should therefore be amended accordingly.\n(7)\nThe Treaties provide for no powers, other than those in Article 308 of the EC Treaty and Article 203 of the Euratom Treaty, for the adoption of this Regulation,\nHAS ADOPTED THIS REGULATION:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Opinion delivered on 14 March 2006 (not yet published in the Official Journal)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "OJ C 313, 9.12.2005, p. 6."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "OJ L 293, 12.11.1994, p. 1. Regulation as last amended by Regulation (EC, Euratom) No 2273/2004 (OJ L 396, 31.12.2004, p. 28)."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "OJ C 139, 14.6.2006, p. 1."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2007/89/introduction",
    "retrieved_at": "2026-11-01T14:53:06.690284+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."
}