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Document 12016E311

    Consolidated version of the Treaty on the Functioning of the European Union
    PART SIX - INSTITUTIONAL AND FINANCIAL PROVISIONS
    TITLE II - FINANCIAL PROVISIONS
    CHAPTER 1 - THE UNION'S OWN RESOURCES
    Article 311 (ex Article 269 TEC)

    OJ C 202, 7.6.2016, p. 181–182 (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

    Legal status of the document In force

    ELI: http://data.europa.eu/eli/treaty/tfeu_2016/art_311/oj

    7.6.2016   

    EN

    Official Journal of the European Union

    C 202/181

    Article 311

    (ex Article 269 TEC)

    The Union shall provide itself with the means necessary to attain its objectives and carry through its policies.

    Without prejudice to other revenue, the budget shall be financed wholly from own resources.

    The Council, acting in accordance with a special legislative procedure, shall unanimously and after consulting the European Parliament adopt a decision laying down the provisions relating to the system of own resources of the Union. In this context it may establish new categories of own resources or abolish an existing category. That decision shall not enter into force until it is approved by the Member States in accordance with their respective constitutional requirements.

    The Council, acting by means of regulations in accordance with a special legislative procedure, shall lay down implementing measures for the Union's own resources system in so far as this is provided for in the decision adopted on the basis of the third paragraph. The Council shall act after obtaining the consent of the European Parliament.

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