# Decision (EU) 2019/1376 of the European Central Bank of 23 July 2019 on delegation of the power to adopt decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions (ECB/2019/23), Article 3: Delegation of passporting, qualifying holding and withdrawal decisions

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

1. 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.
2. 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.
3. 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.
4. 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.
5. Negative passporting, qualifying holding and withdrawal decisions shall not be adopted by means of a delegated decision.
6. 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.

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Source: https://www.legislation.gov.uk/eudn/2019/23/article/3 (the official version)
Page: https://openlegislation.uk/eu-decision-2019-23/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.