in force 2020-01-01 MODIFIED+23 −472§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
The description of the Management Board's composition changed from "six other members" to "six members" of the Board of Supervisors, and the requirement that the composition be balanced was changed to require that it be gender balanced.
The term-of-office and composition-balance text, formerly grouped within paragraph 1, now forms its own paragraph 2, and the meeting-convening text, formerly grouped with decision-making rules in paragraph 3, now forms its own paragraph 3 with the phrase "at his own initiative" changed to "at his or her own initiative".
The sentences on the voting majority, on participation of the Executive Director and the Commission representative, on the Commission representative's voting right on matters referred to in Article 63, and on adoption of rules of procedure, all previously present in the text, no longer appear.
Cited: Art. 45, v1 · Art. 45, v2
text before / after
02010R1094-20140523 → 02010R1094-20200101
Article 45
Composition
1. The Management Board shall be composed of the Chairperson and six other members of the Board of Supervisors, elected by and from the voting members of the Board of Supervisors.
Other than the Chairperson, each member of the Management Board shall have an alternate, alternate who may replace him if he is prevented from attending.
2. The term of office of the members elected by the Board of Supervisors shall be two-and-a-half years. That term may be extended once. The composition of the Management Board shall be gender balanced and proportionate and shall reflect the Union as a whole. Mandates shall be overlapping and an appropriate rotating arrangement shall apply.
2. Decisions by the Management Board shall be adopted on the basis of a majority of the members present. Each member shall have one vote.
The Executive Director and a representative of the Commission shall participate in meetings of the Management Board without the right to vote.
The representative of the Commission shall have the right to vote on matters referred to in Article 63.
The Management Board shall adopt and make public its rules of procedure.
3. Meetings of the Management Board shall be convened by the Chairperson at his or her own initiative or at the request of at least a third of its members, and shall be chaired by the Chairperson.
The Management Board shall meet prior to every meeting of the Board of Supervisors and as often as the Management Board deems necessary. It shall meet at least five times a year.
4. The members of the Management Board may, subject to the rules of procedure, be assisted by advisers or experts. The non-voting members, with the exception of the Executive Director, shall not attend any discussions within the Management Board relating to individual financial institutions.