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New version applies from 17/09/2019 — introduced by Decision (EU) 2019/1378 of the ECB. 25 provisions change. Later versions: 17/05/2023. Article 16 changes in this version: compare with the current text.

Article 16 - Opinion on the review

Article 16
Opinion on the review

1. The Administrative Board shall, within a time period appropriate to the urgency of the matter and not later than two months from the date of receipt of the notice of review, adopt an opinion on the review.

2. The opinion shall propose whether the initial decision should be either abrogated, replaced with a decision of identical content or replaced with an amended one. In the latter case, the opinion shall contain proposals for the necessary amendments.

3. The opinion shall be adopted by a majority of at least three members of the Administrative Board.

4. The opinion shall be in writing and contain reasons, and shall be sent to the Supervisory Board without delay.

5. The opinion shall not be binding on the Supervisory Board or the Governing Council.

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