in force 2020-01-01 MODIFIED+1,542 −602§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
Paragraph 1 now describes the Chairperson as also setting the agenda for both the Board of Supervisors and the Management Board, convening meetings and tabling items for decision, and adds that the Chairperson may invite the Management Board to consider setting up a coordination group under Article 45b.
Paragraph 2 changes the appointment process from selection by the Board of Supervisors with a possible European Parliament objection to a shortlisting by the Board of Supervisors assisted by the Commission followed by appointment by the Council after confirmation by the European Parliament, adds a gender-balance and Official Journal publication requirement for the selection procedure, adds a removal ground where the Chairperson no longer fulfils the conditions in Article 49 or is guilty of serious misconduct with removal by the Council on a Commission proposal approved by the European Parliament, and renames the alternate as a Vice-Chairperson.
Paragraph 4 now specifies that the Vice-Chairperson carries out the Chairperson's tasks during the evaluation period and that any extension of the Chairperson's term is proposed by the Board of Supervisors and assisted by the Commission before the Council acts, while paragraph 5 changes removal from a European Parliament decision following a Board of Supervisors decision to a European Parliament decision following a Council decision adopted after consulting the Board of Supervisors, adding that removal may occur only on serious grounds.
Cited: Art. 48, v1 · Art. 48, v2
text before / after
02010R1093-20190330 → 02010R1093-20200101
Article 48
Appointment and tasks
1. The Authority shall be represented by a Chairperson, who shall be a full-time independent professional.
The Chairperson shall be responsible for preparing the work of the Board of Supervisors Supervisors, including setting the agenda to be adopted by the Board of Supervisors, convening the meetings and tabling items for decision, and shall chair the meetings of the Board of Supervisors Supervisors.
The Chairperson shall be responsible for setting the agenda of the Management Board, to be adopted by the Management Board, and shall chair the meetings of the Management Board.
The Chairperson may invite the Management Board to consider setting up a coordination group in accordance with Article 45b.
2. The Chairperson shall be appointed by the Board of Supervisors selected on the basis of merit, skills, knowledge of financial institutions and markets, and of experience relevant to financial supervision and regulation, following an open selection procedure.
Before taking procedure which shall respect the principle of gender balance and shall be published in the Official Journal of the European Union. The Board of Supervisors shall draw up his duties, and up a shortlist of qualified candidates for the position of the Chairperson, with the assistance of the Commission. Based on the shortlist, the Council shall adopt a decision to 1 month appoint the Chairperson, after the selection confirmation by the Board European Parliament.
Where the Chairperson no longer fulfils the conditions referred to in Article 49 or has been found guilty of Supervisors, serious misconduct, the Council may, acting on a proposal from the Commission which has been approved by the European Parliament may, after having heard the candidate selected by the Board of Supervisors, object Parliament, adopt a decision to the designation of the selected person. remove him or her from office.
The Board of Supervisors shall also elect, from among its members, an alternate a Vice-Chairperson who shall carry out the functions of the Chairperson in his absence. the absence of the Chairperson. That alternate Vice-Chairperson shall not be elected from among the members of the Management Board.
3. The Chairperson’s term of office shall be 5 years and may be extended once.
4. In the course of the 9 months preceding the end of the 5-year term of office of the Chairperson, the Board of Supervisors shall evaluate:
(a) the results achieved in the first term of office and the way they were achieved;
(b) the Authority’s duties and requirements in the coming years.
For the purpose of the evaluation referred to in the first subparagraph, the tasks of the Chairperson shall be carried out by the Vice-Chairperson.
The Council, acting on a proposal from the Board of Supervisors, Supervisors and with the assistance of the Commission, and taking into account the evaluation, evaluation referred to in the first subparagraph, may extend the term of office of the Chairperson once subject to confirmation by the European Parliament. once.
5. The Chairperson may be removed from office only on serious grounds. He or she may only be removed by the European Parliament following a decision of the Council, adopted after consulting the Board of Supervisors.
The Chairperson shall not prevent the Board of Supervisors from discussing matters relating to the Chairperson, in particular the need for his removal, and shall not be involved in deliberations concerning such a matter.