{
  "url": "https://openlegislation.uk/eu-regulation-2014-480/article-1",
  "json_url": "https://openlegislation.uk/eu-regulation-2014-480/article-1.json",
  "legislation": "eur/2014/480",
  "legislation_title": "Commission Delegated Regulation (EU) No 480/2014 of 3 March 2014 supplementing Regulation (EU) No 1303/2013 of the European Parliament and of the Council laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2014-480",
  "path": "article/1",
  "kind": "article",
  "number": "1",
  "heading": "Subject matter",
  "text": "This Regulation lays down the following provisions supplementing Regulation (EU) No 1303/2013:\n(a)provisions supplementing Part Two of that Regulation applicable to the ERDF, the ESF, the Cohesion Fund, the EAFRD and the EMFF support for rural development and support under Regulation 508/2014 (hereinafter referred to as the ‘ESI Funds’) as regards the following:\n(i)criteria for determining the level of financial correction to be applied under the performance framework;\n(ii)rules in relation to financial instruments as regards the following:\nadditional specific rules on the purchase of land and on combining technical support with financial instruments,\nadditional specific rules on the role, liabilities and responsibility of bodies implementing financial instruments, related selection criteria and products that may be delivered through financial instruments,\nrules concerning the management and control of certain financial instruments, including controls to be performed by managing and audit authorities, arrangements for keeping supporting documents, elements to be evidenced by supporting documents, and management and control and audit arrangements,\nrules for withdrawal of payments made to financial instruments and consequent adjustments in respect of applications for payment,\nspecific rules concerning the establishment of a system of capitalisation of annual instalments for interest rate subsidies and guarantee fee subsidies,\nspecific rules setting out the criteria for determining management costs and fees on the basis of performance and the applicable thresholds, as well as rules for the reimbursement of capitalised management costs and fees for equity-based instruments and micro-credit;\n(iii)the method for calculating the discounted net revenue of operations generating net revenue after completion;\n(iv)the flat rate for indirect costs and the related methods applicable in other Union policies;\n(b)provisions supplementing Part Three of that Regulation applicable to the ERDF and the Cohesion Fund as regards the methodology to be used in carrying out the quality review of major projects;\n(c)provisions supplementing Part Four of that Regulation applicable to the ERDF, the ESF, the Cohesion Fund and the EMFF as regards the following:\n(i)rules specifying the information in relation to the data to be recorded and stored in computerised form within the monitoring system established by the managing authority;\n(ii)detailed minimum requirements for the audit trail in respect of the accounting records to be maintained and the supporting documents to be held at the level of the certifying authority, managing authority, intermediate bodies and beneficiaries;\n(iii)the scope and content of audits of operations and audits of the accounts and the methodology for the selection of the sample of operations;\n(iv)detailed rules on the use of data collected during audits carried out by Commission officials or authorised Commission representatives;\n(v)detailed rules concerning the criteria for determining serious deficiencies in the effective functioning of management and control systems, including the main types of such deficiencies, the criteria for establishing the level of financial correction to be applied and the criteria for applying flat rates or extrapolated financial corrections.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Art. 1(a) omitted in so far as they apply to support for rural development and support under Regulation 508/2014 (31.12.2020) by virtue of The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), regs. 1, 5(2)(a)(i); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Art. 1(a) substituted in so far as they apply to support for rural development and support under Regulation 508/2014 (31.12.2020) by The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), regs. 1, 5(2)(a)(ii); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Art. 1(a) omitted in so far as they apply to domestic support for rural development (W.) (26.3.2021) by virtue of The Agricultural Support (Miscellaneous Amendments) (Wales) (EU Exit) Regulations 2021 (S.I. 2021/400), regs. 1(2), 8(2)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Art. 1(a)(i) omitted in so far as it applies to support for rural development and support under Regulation 508/2014 (31.12.2020) by virtue of The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), regs. 1, 5(2)(a)(iii); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Word in Art. 1(a)(iv) omitted in so far as it applies to support for rural development and support under Regulation 508/2014 (31.12.2020) by virtue of The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), regs. 1, 5(2)(a)(iv); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Art. 1(b) omitted in so far as it applies to support for rural development and support under Regulation 508/2014 (31.12.2020) by virtue of The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), regs. 1, 5(2)(b); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Art. 1(c) omitted in so far as it applies to support for rural development and support under Regulation 508/2014 (31.12.2020) by virtue of The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), regs. 1, 5(2)(b); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2014/480/article/1",
    "retrieved_at": "2026-11-01T14:47:41.913716+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."
}