Article 1 Subject matter

This Regulation lays down the essential financial rules for bodies which are set up by the Union under the Treaty on the Functioning of the European Union and the Treaty establishing the European Atomic Energy Community and which have legal personality and receive contributions charged to the Union budget (‘Union bodies’).

On the basis of this Regulation each Union body is to adopt its own financial rules. The Union body's financial rules shall not depart from this Regulation except where its specific needs so require and with the Commission's prior consent.