Article 3 Delegation of passporting, qualifying holding and withdrawal decisions

In accordance with Article 4 of Decision (EU) 2017/933 (ECB/2016/40), the Governing Council hereby delegates to the heads of work units of the ECB, nominated by the Executive Board in accordance with Article 5 of that Decision, the power to adopt passporting, qualifying holding and withdrawal decisions.

Passporting, qualifying holding and withdrawal decisions shall be adopted by means of a delegated decision if the relevant criteria for the adoption of delegated decisions, set out in Articles 4, 5 and 6, are fulfilled.

Passporting, qualifying holding and withdrawal decisions shall not be adopted by means of a delegated decision if the complexity of the assessment requires that they are adopted under the non-objection procedure.

Any delegation of decision-making powers shall apply both to the adoption of supervisory decisions and to the approval of positive assessments by the ECB where a supervisory decision is not required.

Negative passporting, qualifying holding and withdrawal decisions shall not be adopted by means of a delegated decision.

Where a passporting, qualifying holding or withdrawal decision may not be adopted by means of a delegated decision, it shall be adopted in accordance with the non-objection procedure.