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Draft Treaty establishing the European Union

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Draft Treaty establishing the European Union

 

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Article 72 Expenditure

  353

1. The expenditure of the Union shall be determined annually on the basis of an assessment of the cost of each common action within the framework of the financial programme set out in Article  74 of this Treaty.

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2. At least once a year, the Commission shall submit a report to the budgetary authority on the effectiveness of the actions undertaken, account being taken of their cost.

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3. All expenditure by the Union shall be subject to the same budgetary procedure.

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