Under Article 30 of Regulation (EC) No 1290/2005, the Commission, on the basis of the annual accounts submitted by the Member States, accompanied by the information required for the clearance of accounts and a certificate regarding the integrality, accuracy and veracity of the accounts and the reports established by the certification bodies, clears the accounts of the paying agencies referred to in Article 6 of the said Regulation.

For the purpose of the conformity clearance procedure, Commission Decision 94/442/EC of 1 July 1994 setting up a conciliation procedure in the context of the clearance of the accounts of the European Agricultural Guidance and Guarantee Fund (EAGGF) Guarantee Section set up a Conciliation Body and laid down rules for its composition and operation.

The time limits granted to the Member States for the submission to the Commission of the documents referred to in Article 6(1)(b) of Regulation (EC) 1258/1999 and in Article 4(1) of Commission Regulation (EC) No 1663/95 of 7 July 1995 laying down detailed rules for the application of Council Regulation (EEC) No 729/70 regarding the procedure for the clearance of accounts of the EAGGF Guarantee Section (3), have expired.

The Commission will ensure that the financial management of the Community Funds is sound, mainly through a two-stage clearance procedure: clearance of accounts and conformity clearance.

The Commission will ensure that the financial management of the Community Funds is sound, mainly through a two-stage clearance procedure: clearance of accounts and conformity clearance.

Whereas Article 5 (2) of Council Regulation (EEC) No 729/70 of 21 April 1970 on the financing of the common agricultural policy (4) provides for a new system of clearance of the accounts of the Guarantee Section of the European Agricultural Guidance and Guarantee Fund; whereas this system comprises the splitting of the old clearance of the accounts into two separate types of decision, one covering the financial clearance of the accounts submitted by the Member States and the other concerning the possible refusal of financing by the Fund of expenditure which was not disbursed in compliance with Community rules; whereas Article 102 of th ...[+++]e Financial Regulation of 21 December 1977 applicable to the general budget of the European Communities (5) should be aligned on the new clearance of accounts procedure in order to specify in particular the budgetary treatment of refusals of financing;