Decision of the European Central Bank of 7 October 1999 amending the Rules of Procedure of the European Central Bank (ECB/1999/6)
Date: 1999-10-07
Institutions: European Central Bank
Subjects: European Central Bank, rules of procedure

L 314/32

EN

Official Journal of the European Communities

8. 12. 1999

II

(Acts whose publication is not obligatory)

EUROPEAN CENTRAL BANK

DECISION OF THE EUROPEAN CENTRAL BANK

of 7 October 1999

amending the Rules of Procedure of the European Central Bank

(ECB/1999/6)

(1999/810/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL
BANK,

HAS DECIDED AS FOLLOWS:

Having regard to the Statue of the European System of Central
Banks and of the European Central Bank (hereinafter referred
to as the ‘Statute’) and in particular to Article 12.3 thereof;

Article 1

Having regard to the proposal of the Executive Board of the
European Central Bank (ECB);

New Article 9a of the Rules of Procedure of the European
Central Bank

(1) Whereas, to reinforce the means available for combating
fraud and other illegal activities detrimental to the finan-
cial
interests of the ECB, the ECB is to establish an
independent anti-fraud comittee to monitor the activities
of the ECB to this end;

A new Article 9a shall be inserted in the Rules of Procedure of
the European Central Bank which shall read as follows:

‘The Governing Council may decide to establish an indepen-
dent committee in charge of fraud prevention within the
ECB.’

(2) Whereas, to ensure the effectiveness of the activities of
the ECB to this end, the anti-fraud committee needs to
be able to carry out its task independently within the
organisation of the ECB;

(3) Whereas the Rules of Procedure of the European Central
Bank, as they stand, do not allow the establishment of
an independent anti-fraud committee;

(4) Whereas the Rules of Procedure of the European Central
Bank, as they stand, only empower the President of the
ECB to sign Decisions of the Executive Board of the ECB;
whereas in order to ensure flexibility it is necessary to
enable members of the Executive Board other than the
President to sign the Decisions of the Executive Board of
the ECB;

(5) Whereas the Rules of Procedure of the European Central

Bank need to be amended accordingly,

Article 2

Amendment to Article 17 of the Rules of Procedure of the
European Central Bank

Article 17.4 of the Rules of Procedure of the European Central
Bank shall be amended to read as follows:

ECB decisions

and recommendations

‘17.4.
shall be
adopted by the Governing Council or the Executive Board in
their respective domain of competence, and shall be signed
by the President. ECB Decisions imposing sanctions on third
parties shall be signed by the President, the Vice-President or
any two other members of the Executive Board. ECB deci-
sions and recommendations shall state the reasons on which
they are based. The Recommendations
secondary
Community legislation under Article 42 of the Statute shall
be adopted by the Governing Council.’

for

8. 12. 1999

EN

Official Journal of the European Communities

L 314/33

Article 3

Final provisions

This Decision shall be published in the Official Journal of the European Communities.

This Decision shall take effect upon its publication.

Done at Frankfurt am Main, 7 October 1999.

The President of the ECB

Willem F. DUISENBERG