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New version applies from 27/07/2020 — introduced by Amendment 1/2020 of 23 July 2020 to the Rules of Procedure of the Supervisory Board of the European Central Bank. 12 provisions change. Article 8 changes in this version: compare with the current text.

Article 8 - Delegation of power

Comparing 01/04/2014 → 01/01/2015: 0 added, 0 removed, 3 changed Close comparison

1. 8.1. The Supervisory Board may authorise the Chair or the Vice-Chair to take, on its behalf and under its responsibility, clearly defined management or administrative measures, including the use of instruments in preparation for a decision to be taken collectively by the members of the Supervisory Board at a later point in time and instruments implementing final decisions taken by the Supervisory Board.

2. 8.2. The Supervisory Board may also ask the Chair or the Vice-Chair to adopt (i) the definitive text of any instrument as defined in Article 8.1 on condition that the substance of such instrument has already been determined in discussion, and/or (ii) final decisions, where such delegation involves limited and clearly defined executive powers, the exercise of which is subject to strict review in the light of objective criteria established by the Supervisory Board.

3. 8.3. The delegations and decisions adopted in accordance with Articles 8.1 and 8.2 shall be recorded in the proceedings of the Supervisory Board meetings.

Official text · consolidated version 01/01/2015 (no longer in force) Open full page ↗
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