Post-legislative memorandum : European Communities (Finance) Act 2008

European Communities (Finance) Act 2008 ch. 1(ISBN 9780105401087) was the approval in the United Kingdom of Council Decision of 7 June 2007 on the system of the European Communities' own resources (the Own Resources Decision). The Decision sets down the system by which Member States finance the annual EU budget, including any provision for correction in respect of budgetary imbalances. It was concluded that the Act has been used effectively and successfully since it was implemented, and has enabled the UK to meet its financial obligations fully and as intended