OpenLegislation

Article 38 Governing law, jurisdiction and place of performance

United Kingdom

Original text. Later amendments are not shown.

1.

The bilateral relationship between the ECB and participants in TARGET2-ECB shall be governed by the law of the Federal Republic of Germany.

F12.

Without prejudice to the competence of the Court of Justice of the European Union, any dispute arising from a matter relating to the relationship referred to in paragraph 1 falls under the exclusive competence of the courts of Frankfurt am Main.

3.

The place of performance concerning the legal relationship between the ECB and the participants shall be Frankfurt am Main, Federal Republic of Germany.

Annotations

Textual amendments

F1

Substituted by Decision of the European Central Bank of 2 November 2010 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2010/19) (2010/673/EU).

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).