1.The Administrative Board shall be composed of five members who shall be replaced by two alternates under the conditions laid down in paragraphs 3 and 4.
2.The members of the Administrative Board and the two alternates shall be individuals of high repute who are Member State nationals and have a proven record of relevant knowledge and professional experience, including supervisory experience, to a sufficiently high level in the fields of banking or other financial services. They may not be current staff members of the ECB, of national competent authorities or other national or Union institutions, bodies, offices and agencies that are involved in the tasks carried out by the ECB under Regulation (EU) No 1024/2013.
3.An alternate shall temporarily replace a member of the Administrative Board in case of temporary incapacity. In the context of a particular request for review, an alternate shall temporarily replace a member of the Administrative Board in the following cases:
in any situation which may raise conflict of interest concerns as defined in Article 11.1 of the Code of Conduct for high-level European Central Bank Officials 1;
the member is unavailable for justified reasons.
4.In case of permanent incapacity, death, resignation or removal from office of a member of the Administrative Board, the Governing Council shall (a) designate one alternate as a member of the Administrative Board and appoint an alternate in that alternate’s place, or (b) appoint a new member of the Administrative Board. Any appointment made pursuant to this paragraph shall be made in accordance with the procedure laid down in Article 4(2).
5.The alternates shall fully participate in the review proceedings, either temporarily replacing the members of the Administrative Board or as observers.