The creation of imprest accounts, their modification and any substantial adaptation of their operating conditions shall be the subject of decisions by the authorities referred to in Article 22 of the Financial Regulation on a duly substantiated proposal by the authorizing officer after a favourable opinion has been given by the accounting officer and the financial controller.
The decision setting up an imprest shall specify, in particular: (a) the maximum amount which can be set aside as an imprest and its purpose; (b) whether a bank and/or post office giro account is to be opened in the name of the institution concerned; (c) the nature and maximum amount of every item of expenditure which may be effected without prior authorization; (d) the frequency with which supporting documents must be produced and the procedure for producing them; (e) the procedure to be followed if the imprest has to be replenished; (f) the time within which imprest system transactions must be settled.
