in force 2020-01-01 MODIFIED+31 −469§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
The description of the Management Board's composition now refers to six members rather than six other members, and pronoun references throughout the article were changed to gender-neutral wording.
The requirement that the composition be balanced and proportionate was changed to specify that it be gender balanced and proportionate.
The former text on decision-making by majority vote, participation of the Executive Director and the Commission representative, and adoption of rules of procedure no longer appears, and the remaining content was reorganised into fewer numbered paragraphs.
Cited: Art. 45, v1 · Art. 45, v2
text before / after
02010R1095-20140523 → 02010R1095-20200101
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, who may replace him or her if he or she 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. apply
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 market participants.