OpenLegislation

Article 26 Evidence

United Kingdom

Original text. Later amendments are not shown.

1.

Unless otherwise provided in these Conditions, all payment and payment processing-related messages in relation to TARGET2, such as confirmations of debits or credits, or statement messages, between the ECB and participants shall be made through the F1TARGET2 network service provider.

2.

Electronic or written records of the messages retained by the ECB or by the TARGET2 network service provider shall be accepted as a means of evidence of the payments processed through the ECB. The saved or printed version of the original message of the TARGET2 network service provider shall be accepted as a means of evidence, regardless of the form of the original message.

3.

If a participant's connection to the TARGET2 network service provider fails, the participant shall use the alternative means of transmission of messages laid down in Appendix IV. In such cases, the saved or printed version of the message produced by the ECB shall have the same evidential value as the original message, regardless of its form.

4.

The ECB shall keep complete records of payment orders submitted and payments received by participants for a period of 10 years from the time at which such payment orders are submitted and payments are received.

5.

The ECB's own books and records (whether kept on paper, microfilm, microfiche, by electronic or magnetic recording, in any other mechanically reproducible form or otherwise) shall be accepted as a means of evidence of any obligations of the participants and of any facts and events that the parties rely on.

Annotations

Textual amendments

F1

Substituted by Decision (EU) 2018/1625 of the European Central Bank of 8 October 2018 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2018/24).

Notes on Annex I

Textual amendments

F1

Substituted by Decision (EU) 2015/929 of the European Central Bank of 26 May 2015 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2015/22).