Article 12 Time limits

Without prejudice to Article 4 of the Council Regulation, the time limits foreseen in this Regulation shall run from the day following receipt of a communication or delivery thereof by hand. Any communication from the undertaking concerned must be received by the addressee or be dispatched by registered post before the relevant time limit has expired.

Where the time limit would expire on a Saturday, Sunday or public holiday, it shall be extended up to the end of the following working day.

For the purposes of this Regulation, relevant public holidays for the ECB shall be those set out in the Annex to this Regulation, whereas public holidays relevant to national central banks shall be those established by law in the respective area of the Member State in which the undertaking concerned is located. The term ‘working day’ shall be construed accordingly. The ECB shall update the Annex of this Regulation whenever necessary.