{
  "url": "https://openlegislation.uk/eu-regulation-2009-480/article-3",
  "json_url": "https://openlegislation.uk/eu-regulation-2009-480/article-3.json",
  "legislation": "eur/2009/480",
  "legislation_title": "Council Regulation (EC, Euratom) No 480/2009 of 25 May 2009 establishing a Guarantee Fund for external actions (Codified version)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2009-480",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": null,
  "text": "The Fund shall rise to an appropriate level (hereinafter referred to as the target amount).\nThe target amount shall be 9 % of the Communities’ total outstanding capital liabilities arising from each operation, increased by unpaid interest due.\nIf the amount of the Fund exceeds 10 % of the Union's total outstanding capital liabilities, the surplus shall be paid back into the general budget of the European Union. That surplus shall be paid in one transaction to a special heading in the statement of revenue in the general budget of the European Union of the year n + 1 on the basis of the year-end n – 1 difference between 10 % of the Union's total outstanding capital liabilities amount and the value of the Fund's net assets, calculated at the beginning of the year n.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Substituted by Regulation (EU) 2018/409 of the European Parliament and of the Council of 14 March 2018 amending Council Regulation (EC, Euratom) No 480/2009 establishing a Guarantee Fund for external actions."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2009/480/article/3",
    "retrieved_at": "2026-11-01T14:51:27.946106+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."
}