in force 2020-01-01 MODIFIED+86 −1,224§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
The heading changed from 'Preparatory actions' to 'Relationship with the Committee of European Banking Supervisors', and the numbered paragraphs 1 through 3 covering CEBS's cooperation with the Commission before the Authority's establishment, the Commission's role in initial administrative operation and interim Executive Director arrangements, and the statement that those paragraphs are without prejudice to the Board of Supervisors and Management Board, have all been removed.
What remains is the former paragraph 4 text, now presented as unnumbered running text, stating that the Authority is the legal successor of CEBS and describing the transfer of CEBS's assets, liabilities and pending operations along with the closing statement to be audited and approved by CEBS and the Commission.
Cited: Art. 76, v1 · Art. 76, v2
text before / after
texts differ too much for an inline diff; shown separately
before (02010R1093-20190330)
Article 76 Preparatory actions 1. Following the entry into force of this Regulation, and before the establishment of the Authority, CEBS shall act in close cooperation with the Commission to prepare for the replacement of CEBS by the Authority. 2. Once the Authority has been established, the Commission shall be responsible for the administrative establishment and initial administrative operation of the Authority until the Authority has appointed an Executive Director. For that purpose, until such time as the Executive Director takes up his duties following his appointment by the Board of Supervisors in accordance with Article 51, the Commission may assign one official on an interim basis in order to fulfil the functions of the Executive Director. That period shall be limited to the time necessary for the appointment of an Executive Director of the Authority. The interim Executive Director may authorise all payments covered by credits provided in the budget of the Authority, once approved by the Management Board and may conclude contracts, including staff contracts following the adoption of the Authority’s establishment plan. 3. Paragraphs 1 and 2 are without prejudice to the powers of the Board of Supervisors and the Management Board. 4. The Authority shall be considered the legal successor of CEBS. By the date of establishment of the Authority, all assets and liabilities and all pending operations of CEBS shall be automatically transferred to the Authority. CEBS shall establish a statement showing its closing asset and liability situation as of the date of that transfer. That statement shall be audited and approved by CEBS and by the Commission.
after (02010R1093-20200101)
Article 76 Relationship with the Committee of European Banking Supervisors The Authority shall be considered the legal successor of Committee of European Banking Supervisors (CEBS). By the date of establishment of the Authority, all assets and liabilities and all pending operations of CEBS shall be automatically transferred to the Authority. CEBS shall establish a statement showing its closing asset and liability situation as of the date of that transfer. That statement shall be audited and approved by CEBS and by the Commission.