in force 2020-01-01 MODIFIED+524 −196§
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 for the purpose of preparing draft joint positions and common acts, whereas the earlier text opened by establishing a Sub-Committee on Financial Conglomerates and only later, in a separate paragraph, allowed the Joint Committee to establish further sub-committees.
The chairperson of a sub-committee is now described as being elected from among the representatives of the relevant competent authorities and becoming an observer in the Joint Committee, rather than being elected from among the sub-committee's own members and becoming a member of the Joint Committee.
A new paragraph 5 requires the Joint Committee to make public on its website all established sub-committees, including their mandates and a list of members with their functions, a requirement absent from the earlier text.
Cited: Art. 57, v1 · Art. 57, v2
text before / after
02010R1095-20140523 → 02010R1095-20200101
Article 57
Sub-Committees
1. For The Joint Committee may establish sub-committees for the purposes 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.