Procedure for monthly payments

1.   Without prejudice to Articles 53, 54 and 55, monthly payments shall be made by the Commission for expenditure effected by accredited paying agencies during the reference month.
2.   Monthly payments shall be made to each Member State on or before the third working day of the second month following that in which the expenditure is effected, taking account of the reductions or suspensions applied under Articles 39 to 42 or any other corrections. Expenditure effected by Member States between 1 and 15 October shall count as having been made in the month of October. Expenditure effected between 16 and 31 October shall count as having been made in the month of November.
3.   The Commission shall adopt implementing acts determining the monthly payments which it makes on the basis of a declaration of expenditure from the Member States and the information supplied in accordance with Article 90(1). Those implementing acts shall be adopted without applying the procedure referred to in Article 103.
4.   The Commission may adopt implementing acts determining supplementary payments or deductions adjusting the payments made in accordance with paragraph 3. Those implementing acts shall be adopted without applying the procedure referred to in Article 103.
5.   The Commission shall inform the Member State forthwith of any overrun of financial ceilings by the Member State.