1.The CCP’s competent authorityco-chairs shall ensure that the work of the college facilitates the tasks to be performed in accordance with Regulation (EU) No 648/2012.
2.The college shall notify ESMA of any tasks that the college performs in accordance with paragraph 1. ESMA shall have a coordination role in monitoring the tasks performed by a college and shall ensure that its objectives are in line with those of other colleges as far as possible.
3.The CCP’s competent authority,co-chairs shall at least ensure that:
(a)the objectives of any meeting or activity of the college are clearly identified;
(b)the college meetings or activities remain effective, while ensuring that all college members are fully informed of the college activities that are relevant to them;
(c)the timetable for meetings or activities of the college is defined so that their outcome provides assistance to the supervision of the CCP;
(d)the CCP and other key stakeholders have a clear understanding of the role and functioning of the college;
(e)the activities of the college are regularly reviewed and remedial action is taken if the college is not operating effectively;
(f)the agenda is set for an annual crisis management planning meeting amongst members of the college in cooperation with the CCP if necessary.
4.To ensure the efficiency and effectiveness of the college, the CCP’s competent authorityco-chairs shall act as a central point of contact for any matter related to the practical organisation of the college.college and keep each other informed. The CCP’s competent authorityco-chairs shall at least perform the following tasks:
(a)draw-up, update and circulate the contact list of collegemembers members;of the college;
(b)prepare and circulate the agenda as well asand documentation for meetings or activities of the college;
(ba)discuss the implementation of the annual supervisory priorities referred to in Article 24a(7), point (ba), of Regulation (EU) No 648/2012;
(c)record minutes of the meetings and formalise action points;
(d)manage the college website or other electronic information-sharing mechanism,website, if any;
(e)where practical,necessary, provide information and specialised teams where appropriate, to assist the college in its tasks;
(f)share all information in ana timely and appropriate manner among members of the college.
For the purposes of point (b), the CCP’s competent authorityco-chairs shall circulate a draft agenda for each meeting of the college, other than for meetings called in emergency situations, well in advance of each meeting, in order to enable the members of the college to contribute to the setting of the agenda, in particular by adding points to the agenda.
The agenda shall be finalised by the co-chairs and distributed byto members of the CCP’s competent authority to college members sufficiently in advance of a meeting of the college. The CCP’s competent authorityco-chairs and other members of the college members shall distribute any information to be considered at a meeting of the college well in advance of the meeting.
For the purposes of point (c), the CCP’s competent authority shall distribute the minutes of meetings to members of the college membersonce those minutes are agreed by the co-chairs and as soon as practicable following the meetings and shall give themmembers of the college sufficient time to comment.
5.The co-chairs shall determine the frequency of college meetings shall be determined by the CCP’s competent authority having regard to the CCP’s size, nature, scale and complexity, the systemic implications of the CCP across jurisdictions and currencies, the potential impacts of the activities of the CCP, external circumstances and potential requests by collegemembers members.of the college. There shall be at least an annual meeting of the college and if deemed necessary by the CCP’s competent authority,co-chairs, a meeting each time that a decision needsis to be taken under Regulation (EU) No 648/2012. The CCP’s competent authorityco-chairs shall organise, periodically, and at least annually, meetings between members of the college and the senior management of the CCP.
CollegeMembers membersof the college may request that the CCP’sco-chairs competent authority holdshold a meeting of the college. The CCP’s competent authorityco-chairs shall duly provide reasons for any rejection of such request.
6.The written agreement referred to in Article 2 shall specify a quorum of two-thirds for meetings of the college.
7.The CCP’s competent authorityco-chairs shall endeavour to ensure that each college meeting has a valid quorum for decisions to be taken. In the case thatWhere a quorum is not met, the chairco-chairs shall ensure that any decisions that need to be taken are postponed until a quorum is present, taking into account the relevant time limits set out byin Regulation (EU) No 648/2012.
8.The college may vote by written procedureprocedure, where proposed by the CCP’s competent authorityco-chairs or at the request of a collegemember member.of the college.