Article 51 Form

United Kingdom

A security may be given:

(a)

as a cash deposit as referred to in Article 19(2) and (3) of Delegated Regulation (EU) No 907/2014; and/or

(b)

by providing a guarantor in accordance with Article 21 of Delegated Regulation (EU) No 907/2014.

At the discretion of the competent authority, a security may be given by:

(a)

pledging cash deposits in a bank;

(b)

pledging recognised claims against a public body or public funds, which are due and payable and against which no other claim has precedence; and/or

(c)

pledging collateral negotiable in F1the constituent nation concerned provided they are issued or guaranteed by F2the relevant authority.

The competent authority may impose additional terms for accepting securities of the type listed in paragraph 2.

Annotations

F1: Words in Art. 51(2)(c) substituted (31.12.2020 in so far as it relates to common organisation of the markets and rural development measures) by The Common Agricultural Policy (Financing, Management and Monitoring Supplementary Provisions) (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/765), regs. 1, 4(25)(a); 2020 c. 1, Sch. 5 para. 1(1)
F2: Words in Art. 51(2)(c) substituted (31.12.2020 in so far as it relates to common organisation of the markets and rural development measures) by The Common Agricultural Policy (Financing, Management and Monitoring Supplementary Provisions) (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/765), regs. 1, 4(25)(b); 2020 c. 1, Sch. 5 para. 1(1)