Commission Decision of 20 December 2021 on the financial management of the mutual insurance mechanism established under Regulation (EU) 2021/695 of the European Parliament and of the Council for actions under the Seventh Framework Programme, Horizon 2020, Horizon Europe and Euratom Programmes 2021/C 514 I/03

1 The Commission entrusts the financial and administrative management of the MIM to the Directorate General for Research and Innovation (‘DG RTD’ or ‘designated service’) for actions under the Seventh Framework Programme, Horizon 2020, Horizon Europe and Euratom Programmes.

2 The Commission entrusts the tasks of financial assets manager of the MIM to the Directorate General for Budget.

3 The division of tasks and duties between the designated service and the financial assets manager in relation to the MIM shall be set out in a service level agreement in conformity with the functions and responsibilities set out in this Decision.

The Rules and Procedures of the MIM are set out in the Annex.

1 The Commission delegates to the authorising officers, as indicated in the Rules and Procedures of the MIM set out in the Annex, powers to authorise interventions from the MIM and the return of contributions to the beneficiaries.

2 The Commission authorises the same authorising officers to implement revenue from the MIM under the Seventh Framework Programme, Horizon 2020, Horizon Europe and Euratom Programmes.

3 The authorising officers by delegation may sub-delegate the relevant powers to authorising officers by sub-delegation in line with the Commission Decision C(2018)5120 of 3 August 2018 on the Internal Rules on the implementation of the general Budget of the European Union.

4 The Commission delegates to the authorising officer by delegation of the designated service, the power to authorise payment orders for transferring the contribution collected by the AOD to the MIM and then to the Asset manager. The Commission also delegates to the authorising officer by delegation of the designated service, the power to issue recovery orders for transferring funds from the Asset manager to the MIM in order to ensure the returns of contributions and interventions. The authorising officer by delegation of the designated service may sub-delegate the relevant powers to authorising officers by sub-delegation.

5 In its role as financial and administrative manager of the MIM, the designated service shall, after the verification of their conformity and regularity, validate or reject the transactions authorised by the authorising officers by delegation. Before validating the transaction, the designated service may issue a non-binding opinion on its opportunity. Where the opinion is negative, the transaction shall be validated by the designated service only if the authorising officer by delegation confirms the transaction in writing, providing a proper motivation.

The Commission’s accounting officer is appointed the accounting officer of the MIM.

1 Where the designated service, in agreement with the financial assets manager, considers that the MIM’s funds are not sufficient to return the beneficiary contributions at the payment of the balance, the measures referred to in paragraph 2 shall be temporarily enacted.

2 Any negative financial returns, including interests, net realised losses and valuation losses, administrative and bank fees for the management of the MIM such as, but not limited to, transaction fees, IT costs, account fees, custodian fees, external audit fees, costs, as well as any late payment interests on the return due to beneficiaries, may be covered by internal and/or external assigned revenues stemming from past and current Research and Innovation Framework Programmes, as well as from the budget of the participating programmes. Internal assigned revenues stemming from recoveries (both of the current financial year and carried over under Article 12(4)(b) of the Financial Regulation ), as well as available external assigned revenues from past Research Framework Programmes, shall be used in priority.

3 The financial resources referred to in paragraph 2 shall not be used to finance the interventions of the MIM, except to cover the granting authority’s contractual obligations of previously signed Horizon 2020 grant agreements where, on the basis of the monthly financial statement of the MIM, the designated service, in agreement with the accountant of the MIM consider that the financial returns are not sufficient, or where the net financial returns available amount is less than EUR 15 million.

4 Any transfers to the MIM under the temporary measures set out in paragraph 2 shall not result in the creation of a reserve exceeding EUR 60 million at any given time.

Decision C(2013) 9092 is repealed.