1. In the event of a disagreement regarding the settlement of compensation paid by one of the joint controllers for damage suffered as a result of an infringement of Regulation (EU) 2018/1725 or Regulation (EU) 2016/679, an independent panel shall be established to facilitate the resolution of the disagreement.
2. Any joint controller may serve notice of a disagreement to one or more joint controllers and appoint a panellist. Each joint controller that has been served notice shall appoint its panellist within two weeks of the date of receipt of the notice. The joint controller that served the notice of disagreement and the joint controlllers that have been served notice shall be considered to be parties to the disagreement.
3. An independent panel shall have an odd number of members and shall be composed of the panellists appointed pursuant to paragraph 2 and one or two panellists jointly appointed by those panellists. The jointly appointed panellist or panellists shall serve as chair, or chair and vice-chair respectively according to their seniority, and they shall be remunerated through an equal financial contribution from all parties to the disagreement. The jointly appointed panellist or panellists shall be independent of the parties to the disagreement. The chair shall notify the final composition of the panel to the President of the ECB.
4. The independent panel shall work in accordance with the principles of impartiality and equality and the right to be heard.
5. The independent panel shall aim to deliver, within three months of the date of notification of its final composition to the President of the ECB, a reasoned recommendation on the resolution of the disagreement. The recommendation shall not be binding on the parties to the disagreement and may be submitted as evidence in court proceedings.