Article 1 Amendments to Regulation (EU) No 1306/2013

Regulation (EU) No 1306/2013 is amended as follows:

1. (1)

   in Article 16, paragraph 1 is replaced by the following:

   ‘1.

   The annual ceiling for EAGF expenditure shall be constituted by the maximum amounts set for it under Regulation (EU, Euratom) No 1311/2013 and under the Regulation to be adopted by the Council pursuant to Article 312(2) TFEU for the years 2021 to 2027.’;

2. (2)

   in Article 26, paragraph 1 is replaced by the following:

   ‘1.

   In order to ensure that the annual ceilings referred to in Article 16 for the financing of the market-related expenditure and direct payments are respected, an adjustment rate for direct payments (“the adjustment rate”) shall be determined when the forecasts for the financing of the measures financed under that sub-ceiling for a given financial year indicate that the applicable annual ceilings will be exceeded.’.