3.3.2015 Official Journal of the European Union L 58/17 COUNCIL REGULATION (EU) 2015/323 of 2 March 2015 on the financial regulation applicable to the 11th European Development Fund THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on European Union and to the Treaty on the Functioning of the European Union, Having regard to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States of the one part, and the European Community and its Member States, of the other part, as last amended (') (ACP-EU Partnership Agreement), Having regard to the Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union aid under the multiannual financial framework for the period 2014 to 2020, in accordance with the ACP-EU Partnership Agreement, and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the Treaty on the Functioning of the European Union applies (?) (the Internal Agreement’), and in particular Article 10(2) thereof, Having regard to the proposal from the European Commission, Having regard to the opinion of the Court of Auditors (%), Having regard to the opinion of the European Investment Bank, Whereas: (1)  The detailed rules for the payment of the contributions by the Member States to the 11th European Development Fund (EDF), set up by the Internal Agreement, should be determined. (2)  The conditions in accordance with which the Court of Auditors must exercise its powers in respect of the 11th EDF should be laid down. (3)  The detailed rules for the financial implementation of the 11th EDF concerning in particular the applicable principles; the constitution of its resources; the financial actors and entities entrusted with budget-implementation tasks; the financing decisions, commitments and payments; the types of financing including procurement, grants, financial instruments and Union trust funds; the presentation of the accounts and accounting; the external audit by the Court of Auditors and discharge by the European Parliament; and the Investment Facility managed by the European Investment Bank (EIB), should be determined. (4)  For the sake of simplification and coherence, this Regulation should be aligned, as far as possible, with Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council (¥} and Commission Delegated Regulation (EU) No 1268/2012 (°). Such alignment should be achieved by direct references to those regulations and should, on the one hand, allow for an easy identification of specificities in the financial implementation of the 11th EDF and, on the other hand, reduce the diversity of Union funding rules in the area of external action that creates an unnecessary burden for the recipients, the Commission as well as other actors involved. () () OJL210,6.8.2013,p. 1. () 0JC€370,17.12.2013,p. 1. () applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 (O] L 298, 26.10.2012, p-1). () Commission Delegated Regulation (EU) No 1268/2012 of 29 October 2012 on the rules of application of Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council on the financial rules applicable to the general budget of the Union (OJL 362, 31.12.2012, p. 1).