# Commission Delegated Regulation (EU) No 907/2014 of 11 March 2014 supplementing Regulation (EU) No 1306/2013 of the European Parliament and of the Council with regard to paying agencies and other bodies, financial management, clearance of accounts, securities and use of euro, Article 19: Conditions applying to securities

Extent: E+W+S+N.I.

(1.) The competent authority shall refuse to accept or shall require the replacement of any security which it considers inadequate or unsatisfactory or which does not provide cover for a sufficient period.
(2.) Where cash is deposited by transfer, it shall not be regarded as establishing a security until the competent authority is satisfied that it has the amount at its disposal.
(3.) A cheque for a sum whose payment is guaranteed by a financial institution recognised for that purpose by the ... competent authority concerned shall be treated as a cash deposit. The competent authority need not to present such a cheque for payment until the period for which it is guaranteed is about to expire.
A cheque, other than as referred to in the first subparagraph, shall constitute a security only when the competent authority is satisfied that it has the amount at its disposal.
(4.) Any charges by a financial institution shall be borne by the party giving the security.
(5.) No interest shall be paid to the party giving a security in the form of a cash deposit.

---
Source: https://www.legislation.gov.uk/eur/2014/907/article/19 (the official version)
Page: https://openlegislation.uk/eu-regulation-2014-907/article-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.