# Decision (EU) 2017/2098 of the European Central Bank of 3 November 2017 on procedural aspects concerning the imposition of corrective measures for non-compliance with Regulation (EU) No 795/2014 (ECB/2017/33), Article 2: General principles

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

1. Corrective measures shall be imposed on SIPS operators in accordance with Article 22 of Regulation (EU) No 795/2014 (ECB/2014/28) and the procedure laid down in this Decision.
2. Competent authorities may initiate the procedure to impose a corrective measure in the following scenarios:
(a) in case of non-compliance that has been confirmed by an assessment;
(b) in case of ongoing non-compliance, where no corrective measure has been previously imposed on the SIPS operator;
(c) where a draft assessment gives grounds to the competent authority to suspect non-compliance that is serious and requires immediate action.
3. The formulation of corrective measures shall be sufficiently specific to allow a SIPS operator to undertake action without undue delay to remedy or avoid a repetition of its non-compliance.

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Source: https://www.legislation.gov.uk/eudn/2017/33/article/2 (the official version)
Page: https://openlegislation.uk/eu-decision-2017-33/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.