in force 2022-01-01 MODIFIED+116 −0§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
Paragraph 1 now specifies that it is the competent authority of the administrator that establishes the college, and adds that this authority also leads the college.
Paragraph 2 now describes the college as comprising representatives of the competent authority of the administrator and of the competent authorities of supervised contributors, and adds that ESMA is included unless it is itself the competent authority of the administrator.
Cited: Art. 46, v2
text before / after
02016R1011-20210213 → 02016R1011-20220101
Article 46 Colleges 1. Within 30 working days from the inclusion of a benchmark referred to in points (a) and (c) of Article 20(1) in the list of critical benchmarks, with the exception of benchmarks where the majority of contributors are non-supervised entities, the competent authority of the administrator shall establish a college and lead the college. 2. The college shall comprise representatives of the competent authority of the administrator, ESMA, unless it is the competent authority of the administrator, and the competent authorities of supervised contributors. 3. Competent authorities of other Member States shall have the right to be members of the college where, if the critical benchmark in question were to cease to be provided, it would have a … 939 unchanged words … may act in accordance with the powers conferred on it under Article 19 of Regulation (EU) No 1095/2010. The power of the competent authority of an administrator under Article 23(6) may be exercised until such time as ESMA publishes its decision.