L 31738 Official Journal of the European Union 5.12.2007 COMMISSION REGULATION (EC) No 1424/2007 of 4 December 2007 amending Regulation (EC) No 2304/2002 implementing Council Decision 2001/822/EC on the association of the overseas countries and territories with the European Community and allocating the indicative amounts under the 10th European Development Fund THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Council Decision 2001/822/EC on the asso- ciation of the overseas countries and territories with the European Community (Overseas Association Decision) (1), and in particular Article 23 thereof, Having regard to Commission Regulation (EC) No 2304/2002 of 20 December 2002 implementing Council Decision 2001/822[EC of 27 November 2001 on the association of the overseas countries and territories with the European Community (Overseas Association Decision) (3), Having regard to the Internal Agreement between the Represen- tatives of the Governments of the Member States meeting within the Council on the financing of Community aid under the multiannual framework for the period 2008 to 2013 in accordance with the ACP-EC Partnership Agreement and the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the EC Treaty applies () (hereinafter referred to as Internal Agreement establishing the 10th EDB), Having regard to the Financial Regulation applicable to the 10th EDF (4), Whereas: (1)  The provisions of Regulation (EC) No 2304/2002 adopted pursuant to Article 23 of the Overseas Asso- ciation Decision should be brought into line with the amendments to that Decision, in the light of the newly established 10th European Development Fund (here- inafter referred to as 10th EDF). They should also be brought into line with the revision of the corresponding Articles in Annex IV of the Partnership Agreement between, on the one hand the members of the African, Caribbean and Pacific Group of States, and on the other () O] L 314, 30.11.2001, p. 1. Decision as amended by Decision 2007/249(EC (O] L 109, 26.4.2007, p. 33). () OJ L 348, 21.12.2002, p. 82. () O] L 247, 9.9.2006, p. 32. () Not yet published — COM(2007) 410 final, 16.7.2007. hand the European Community and its Member States, signed in Cotonou on 23 June 2000 (°) (the ACP-EC Partnership Agreement). (2)  Taking into account the specific needs, capabilities and constraints of the overseas countries and territories (here- inafter referred to as OCTs), 10th EDF financial assistance to the OCTs should be granted as budgetary support, provided the OCTs management of public expenditure presents sufficient transparency, accountability and effec- tiveness. In addition, the public procurement procedures of the OCTs should satisfy the standards of the 10th EDF Financial Regulation as to transparency and openness. On the basis of the experience acquired under the 9th EDF, 10th EDF financial assistance should only in excep- tional circumstances be provided as support for projects or programmes, namely when the conditions for budgetary support are not met. (3)  As a condition for their adoption, it should be verified that the Single Programming Documents (SPDs) contain all the elements required for the Commission to take the financing decision referred to in Article 20(4) of the Overseas Association Decision. (4)  In accordance with Article 3(1) of Annex II Aa to the Overseas Association Decision, the SPDs should, where appropriate, pay particular attention to actions aimed at strengthening the governance and the institutional capa- cities of the beneficiary OCTs and, where relevant, to the likely timetable of the envisaged actions, including in the financial, tax and judicial areas. (5)  Provision should be made for the programming of the allocation under the 10th EDF to support regional coop- eration and integration, with a view to enhancing the resilience of the OCTs in coping with the challenges that they are facing as small island micro-economies, for example by means of regional disaster preparedness and mitigation initiatives. In this connection, coordi- nation should be ensured in particular between support for regional cooperation and integration and support at territorial level. Special attention should also be paid to cooperation between the OCTs, the ACP States and, in coordination ~ with  other = Community financial instruments, the outermost regions referred to in Article 299(2) of the Treaty. (®) OJ L 317, 15.12.2000, p. 3. Agreement as last amended by Decision No 1/2006 of the ACP-EC Council of Ministers (O] L 247, 9.9.2006, p. 22).