{
  "url": "https://openlegislation.uk/eu-regulation-2018-1488/annex/article-15",
  "json_url": "https://openlegislation.uk/eu-regulation-2018-1488/annex/article-15.json",
  "legislation": "eur/2018/1488",
  "legislation_title": "Council Regulation (EU) 2018/1488 of 28 September 2018 establishing the European High Performance Computing Joint Undertaking",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2018-1488",
  "path": "annex/article/15",
  "kind": "article",
  "number": "15",
  "heading": "Sources of financing",
  "text": "1. The Joint Undertaking shall be jointly funded by its members through financial contributions paid in instalments and in-kind contributions as set out in paragraphs (2) and (3).\n2. The administrative costs of the Joint Undertaking shall not exceed EUR 22 000 000 and shall be covered by means of the financial contributions referred to in Articles 4(1), 6(1) and 6(2) of this Regulation.\nThe contribution of each Participating State to the administrative costs of the Joint Undertaking shall be proportional to the share of their actual contribution to the operational costs of the Joint Undertaking set out in points (b) to (e) of paragraph (3) of this Article.\nIf part of the contribution for administrative costs is not used, it may be made available to cover the operational costs of the Joint Undertaking.\n3. The operational costs of the Joint Undertaking shall be covered by means of:\n(a) the Union's financial contribution;\n(b) financial contributions by the Participating State where the hosting entity is established or by the Participating States in a hosting consortium to the Joint Undertaking for the acquisition of the pre-exascale supercomputers and for their operation until their ownership is transferred to the hosting entity, they are sold or decommissioned in accordance with Article 10(3) of this Regulation, less the contributions by the Joint Undertaking and any other Union contribution to those costs;\n(c) in-kind contributions by the Participating State where the hosting entity is established or by the Participating States in a hosting consortium consisting of the operating costs of the pre-exascale supercomputers owned by the Joint Undertaking, incurred by the hosting entities, less the contributions by the Joint Undertaking and any other Union contribution to those costs;\n(d) financial contributions by the Participating State where the hosting entity is established or by the Participating States in a hosting consortium consisting of the costs incurred for the acquisition, jointly with the Joint Undertaking, of the petascale supercomputers, less the contributions by the Joint Undertaking and any other Union contribution to those costs;\n(e) financial contributions by Participating States to the eligible costs incurred by beneficiaries established in that Participating State in implementing indirect actions corresponding to the research and innovation agenda as a complement to the reimbursement of these costs made by the Joint Undertaking, less the contributions by the Joint Undertaking and any other Union contribution to those costs;\n(f) in-kind contributions by the Private Members or their constituent entities and affiliated entities consisting of the costs incurred by them in implementing indirect actions corresponding to the research and innovation agenda, less the contributions by the Joint Undertaking, any other Union contribution to those costs and the contributions referred to in point (e).\n4. The resources of the Joint Undertaking entered in its budget shall be composed of the following contributions:\n(a) members' financial contributions to the administrative costs;\n(b) members' financial contributions to the operational costs;\n(c) any revenue generated by the Joint Undertaking;\n(d) any other financial contributions, resources and revenues.\nAny interest yielded by the contributions paid to the Joint Undertaking shall be considered to be its revenue.\n5. Should any member of the Joint Undertaking be in default of its commitments concerning its financial contribution, the Executive Director shall put this in writing and shall set a reasonable period within which such default shall be remedied. If the situation is not remedied within that period, the Executive Director shall convene a meeting of the Governing Board to decide whether the defaulting member's membership is to be revoked or whether any other measures are to be taken until its obligations have been met. The defaulting member's voting rights shall be suspended until the default of its commitments is remedied.\n6. The resources and activities of the Joint Undertaking shall be intended for the achievement of the objectives set out in Article 3 of this Regulation.\n7. The Joint Undertaking shall own all assets generated by it or transferred to it for the achievement of its objectives set out in Article 3 of this Regulation. This shall not include the supercomputers whose ownership the Joint Undertaking has transferred to a hosting entity in accordance with Article 10(3) of this Regulation.\n8. Except when the Joint Undertaking is wound up, any excess revenue over expenditure shall not be paid to the members of the Joint Undertaking.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2018/1488/annex/article/15",
    "retrieved_at": "2026-11-01T14:43:55.981884+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."
}