{
  "url": "https://openlegislation.uk/eu-decision-2005-377/introduction",
  "json_url": "https://openlegislation.uk/eu-decision-2005-377/introduction.json",
  "legislation": "eudn/2005/377",
  "legislation_title": "Council Decision of 10 May 2005 amending Decision 1999/70/EC concerning the external auditors of the national central banks, as regards the external auditors of the Nationale Bank van België/Banque Nationale de Belgique and the Bank of Greece (2005/377/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2005-377",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Council Decision\nof 10 May 2005\namending Decision 1999/70/EC concerning the external auditors of the national central banks, as regards the external auditors of the Nationale Bank van België/Banque Nationale de Belgique and the Bank of Greece\n(2005/377/EC)\nTHE COUNCIL OF THE EUROPEAN UNION,\nHaving regard to the Protocol on the Statute of the European System of Central Banks and of the European Central Bank, annexed to the Treaty establishing the European Community, and in particular to Article 27.1 thereof,\nHaving regard to Recommendations ECB/2005/7 and ECB/2005/8 of the European Central Bank of 7 April 2005 to the Council of the European Union on the external auditors of the Bank of Greece and of the Nationale Bank van België/Banque Nationale de Belgique,\nWhereas:\n(1)\nThe accounts of the European Central Bank (ECB) and of the national central banks of the Eurosystem are to be audited by independent external auditors recommended by the Governing Council of the ECB and approved by the Council of the European Union.\n(2)\nThe mandate of the current external auditors of the Nationale Bank van België/Banque Nationale de Belgique (hereinafter NBB/BNB) has expired and will not be renewed. It is therefore necessary to appoint external auditors from the financial year 2005.\n(3)\nThe NBB/BNB has selected Ernst & Young Bedrijfsrevisoren/Réviseurs d’Entreprises as its new external auditors in accordance with its public procurement rules, and the ECB considers that the selected auditors fulfil the necessary requirements for appointment.\n(4)\nThe Governing Council of the ECB recommended that the mandate of these external auditors should be for three years, renewable once.\n(5)\nUnder the law of Greece, the same external auditor may not be appointed for more than four financial years. Accordingly, the mandate of Charalambos Stathakis, who is one of the two current external auditors, may not be renewed. The Bank of Greece may, under the law of Greece, retain Ernst & Young (Hellas) Certified Auditors SA as its external auditors, provided that the partner in charge is rotated.\n(6)\nThe Bank of Greece has decided that Ernst & Young (Hellas) Certified Auditors SA should be its sole external auditor for the financial year 2005, and the ECB considers that this company fulfils the necessary requirements for such appointment.\n(7)\nThe Governing Council of the ECB recommended that the existing mandate of these external auditors should continue and be for a renewable period of one year.\n(8)\nIt is appropriate to follow the recommendations of the Governing Council of the ECB and to amend Decision 1999/70/EC accordingly,\nHAS DECIDED AS FOLLOWS:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ C 91, 15.4.2005, p. 4."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "OJ C 91, 15.4.2005, p. 5."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "OJ L 22, 29.1.1999, p. 69. Decision as last amended by Decision 2005/266/EC (OJ L 82, 31.3.2005, p. 6)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2005/377/introduction",
    "retrieved_at": "2026-11-01T15:17:55.256894+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}