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Article 12 - Language regime between the competent authority and the SIPS operator

Article 12
Language regime between the competent authority and the SIPS operator

1.Any document which a SIPS operator subject to oversight pursuant to Regulation (EU) No 795/2014 (ECB/2014/28) sends to the competent authority according to Article 3 of this Decision may be drafted in any one of the official languages of the Union, chosen by the SIPS operator.

2.The SIPS operator subject to oversight may agree to exclusively use one Union official language in their written communication with the competent authority. The SIPS operator may revoke such agreement on the use of one language or may choose to waive this right occasionally and for certain written communications in order to accelerate the process, with no effect on future procedures. The revocation shall only affect the aspects of the oversight procedure which have not yet been carried out.

3.The SIPS operator may request the investigation, independent review or on-site inspection to be carried out in a Union official language other than the language agreed for the oversight process. If it intends to do so, the SIPS operator shall give sufficient advance notice of this intention to the competent authority or independent expert prior to the commencement of the investigation, independent review or on-site inspection so that necessary arrangements can be made.

Official text · consolidated version 25/05/2021 (in force) Open full page ↗
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