CELEX: 11992M/PRO/SEBC/14
Language: en
Date: 1992-02-07 00:00:00
Title: Treaty on European Union - Protocol on the statute of the european system of central banks and of the European Central Bank - Chapter III: Organisation of the ESCB - Article 14: National central banks

Avis juridique important

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11992M/PRO/SEBC/14

Treaty on European Union - Protocol on the statute of the european system of central banks and of the European Central Bank - Chapter III: Organisation of the ESCB - Article 14: National central banks  

Official Journal C 191 , 29/07/1992 P. 0071

 Article 14  National central banks 14.1. In accordance with Article 108 of this Treaty, each Member State shall ensure, at the latest at the date of the establishment of the ESCB, that its national legislation, including the statutes of its national central bank, is compatible with this Treaty and this Statute.  14.2. The statutes of the national central banks shall, in particular, provide that the term of office of a Governor of a national central bank shall be no less than 5 years.  A Governor may be relieved from office only if he no longer fulfils the conditions required for the performance of his duties or if he has been guilty of serious misconduct. A decision to this effect may be referred to the Court of Justice by the Governor concerned or the Governing Council on grounds of infringement of this Treaty or of any rule of law relating to its application. Such proceedings shall be instituted within two months of the publication of the decision or of its notification to the plaintiff or, in the absence thereof, of the day on which it came to the knowledge of the latter, as the case may be.  14.3. The national central banks are an integral part of the ESCB and shall act in accordance with the guidelines and instructions of the ECB. The Governing Council shall take the necessary steps to ensure compliance with the guidelines and instructions of the ECB, and shall require that any necessary information be given to it.  14.4. National central banks may perform functions other than those specified in this Statute unless the Governing Council finds, by a majority of two thirds of the votes cast, that these interfere with the objectives and tasks of the ESCB. Such functions shall be performed on the responsibility and liability of national central banks and shall not be regarded as being part of the functions of the ESCB.