Article 2 The operational organisation of colleges

After assessing that an application is complete as referred to in Article 17(3) of Regulation (EU) No 648/2012, the CCP’s competent authority shall circulate a proposal for the written agreement under Article 18(5) of Regulation (EU) No 648/2012 to the members of the college determined in accordance with Article 18(2) of Regulation (EU) No 648/2012. That written agreement shall include a process for annual review. It shall also include an amendment process whereby changes may be initiated at any time by the CCP’s competent authority or by other members of the college, subject to approval by the college in accordance with the procedure set out in this Article.

Where the members of the college referred to in paragraph 1 do not express any comments within 10 calendar days, the CCP’s competent authority shall proceed with the adoption of the written agreement by the college and with the establishment of the college in accordance with Article 18(1) of Regulation (EU) No 648/2012.

Where the members of the college express comments regarding the proposal for the written agreement circulated pursuant to paragraph 1, they shall submit those comments together with a thorough explanation to the CCP’s competent authority within 10 calendar days. If relevant, the CCP’s competent authority shall prepare a revised proposal and convene a meeting to agree on the final written agreement taking into account the deadline referred to in Article 18(1) of Regulation (EU) No 648/2012.

The college shall be deemed to be established following the adoption of the written agreement.

All members of the college will be bound by the written agreement adopted in accordance with paragraphs 1 to 3 of this Article.