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Whereas the above Regulation lays down the basic rules governing the management of the European Centre for the Development of Vocational Training, hereinafter called ‘the Centre’, the fixing of the annual subsidy to be charged against the budget of the Communities, the presentation and adoption of the statement of revenue and expenditure and the checks to which the Centre is subject; Whereas it is necessary to set up the procedures to be adopted for establishing and implementing the statement of revenue and expenditure of the Centre and for presenting and auditing accounts; whereas the rules governing authorizing officers and accounting officers should also be determined and a system set up for monitoring the exercise of their responsibilities;

Whereas the Centre falls within the framework of the Communities and will function in accordance with Community law; whereas therefore it is advisable that the financial provisions governing the Centre should be as far as possible identical to the provisions of the Financial Regulation of 25 April 1973 applicable to the general budget of the European Communities (), subject to certain derogations dictated by the requirements peculiar to the functioning of the Centre, HAS ADOPTED THIS REGULATION: