Article 78 Establishment of the budget

Each year, the Executive Director shall draw up a draft statement of estimates of the Authority’s revenue and expenditure for the following financial year, including the establishmentmeans the actual pursuit by an obliged entity of an economic activity covered by Article 3 in a Member State or third country other than the country where its head office is located for an indefinite period and through a stable infrastructure, including:a branch or subsidiary;in the case of credit institutions and financial institutions, an infrastructure qualifying as an establishment under prudential regulation; plan, and send it to the Executive Board.

The Executive Board shall, on the basis of that draft, adopt a provisional draft estimate of the Authority’s revenue and expenditure for the following financial year.

The final draft estimate of the Authority’s revenue and expenditure shall be sent to the Commission by 31 January of each year.

The Commission shall send the statement of estimates to the budgetary authority together with the draft general budget of the Union.

On the basis of the statement of estimates, the Commission shall enter in the draft general budget of the Union the estimates it considers necessary for the establishmentmeans the actual pursuit by an obliged entity of an economic activity covered by Article 3 in a Member State or third country other than the country where its head office is located for an indefinite period and through a stable infrastructure, including:a branch or subsidiary;in the case of credit institutions and financial institutions, an infrastructure qualifying as an establishment under prudential regulation; plan and the amount of the subsidy to be charged to the general budget, which it shall place before the budgetary authority in accordance with Articles 313 and 314 TFEU.

The budgetary authority shall authorise the appropriations for the contribution to the Authority.

The budgetary authority shall adopt the Authority’s establishmentmeans the actual pursuit by an obliged entity of an economic activity covered by Article 3 in a Member State or third country other than the country where its head office is located for an indefinite period and through a stable infrastructure, including:a branch or subsidiary;in the case of credit institutions and financial institutions, an infrastructure qualifying as an establishment under prudential regulation; plan.

The Authority’s budget shall be adopted by the Executive Board. It shall become final following the final adoption of the general budget of the Union. Where necessary, it shall be adjusted accordingly.