Article 7, Paragraph 9. · ECB/2022/31

Contents

1. Following the provision of a warning of an alleged infring…
10. Competent NCBs and the ECB shall notify each other of any…
11. Where a remedial plan is endorsed and implemented pursuant…
12. Where a reporting agent fails to comply with a deadline as…
13. Notwithstanding paragraphs 1 to 12, competent Eurosystem c…
2. Within 60 calendar days of the notification referred to in…
3. This Article shall not apply in either of the following ca…
4. A remedial plan shall be prepared by the reporting agent a…
5. The competent Eurosystem central bank shall assess a remed…
6. Where a revised remedial plan is submitted within the dead…
7. A competent NCB shall submit any remedial plan or any revi…
8. Where a competent Eurosystem central bank endorses a remed…
9. A competent Eurosystem central bank may extend the deadlin…

9.A competent Eurosystem central bank may extend the deadline for the implementation of a remedial plan endorsed pursuant to paragraph 5 or 6 once, in exceptional circumstances and provided that the reporting agent demonstrates that the remedial plan is being implemented effectively. Any extension shall be limited to the period that the competent Eurosystem central bank considers necessary for the reporting agent to implement the remedial plan, and in any event no longer than 30 calendar days from the expiry of the final deadline referred to in paragraph 5 or 6, as applicable.