# Decision of the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (2007/601/EC), Article 27: Duration and ordinary termination of participation

Extent: E+W+S+N.I.

1. Without prejudice to Article 28, participation in TARGET2-ECB is for an indefinite period of time.
2. A participant may terminate its participation in TARGET2-ECB at any time giving 14 business days' notice thereof, unless it agrees a shorter notice period with the ECB.
3. The ECB may terminate a participant's participation in TARGET2-ECB at any time giving three months' notice thereof, unless it agrees a different notice period with that participant.
4. On termination of participation, the confidentiality duties laid down in Article 32 remain in force for a period of five years starting on the date of termination.
5. On termination of participation, the PM accounts of the participant concerned shall be closed in accordance with Article 29.

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Source: https://www.legislation.gov.uk/eudn/2007/7/annex/I/article/27 (the official version)
Page: https://openlegislation.uk/eu-decision-2007-7/annex-I/article-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.