in force 2020-01-01 MODIFIED+531 −204§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
Sources disagree — the text comparison and the EU's own amendment metadata found this change; the amending act's instructions do not mention it. All are shown; none is overruled.
The provision now opens by stating that the Joint Committee may establish sub-committees to prepare draft joint positions and common acts, whereas the earlier text opened with the mandatory establishment of a Sub-Committee on Financial Conglomerates, a requirement which now appears later as paragraph 4 with lower-case wording.
The chairperson election paragraph now specifies that the chairperson is elected from among the representatives of the relevant competent authorities and becomes an observer in the Joint Committee, replacing the earlier wording that simply made the elected chairperson a member of the Joint Committee.
A new paragraph 5 has been added requiring the Joint Committee to make public on its website all established sub-committees, together with their mandates and a list of members and their functions, a disclosure obligation absent from the earlier text.
Cited: Art. 57, v1 · Art. 57, v2
text before / after
02010R1093-20190330 → 02010R1093-20200101
Article 57
Sub-Committees
1. For The Joint Committee may establish sub-committees for the purposes purpose of Article 56, a Sub-Committee on Financial Conglomerates to preparing draft joint positions and common acts for the Joint Committee shall be established. Committee.
2. The Sub-Committee Each sub-committee shall be composed of the individuals referred to in Article 55(1), and one high-level representative from the current staff of the relevant competent authority from each Member State.
3. The Sub-Committee Each sub-committee shall elect a Chairperson chairperson from among its members, the representatives of the relevant competent authorities, who shall also be a member of an observer in the Joint Committee.
4. For the purposes of Article 56, a sub-committee on financial conglomerates to the Joint Committee shall be established.
5. The Joint Committee may establish further Sub-Committees. shall make public on its website all established sub-committees including their mandates and a list of their members with their respective functions in the sub-committee.