CELEX: 11992M/PRO/SEBC/51
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 IX: Transitional and other provisions for the ESCB - Article 51: Derogation from Article 32

Avis juridique important

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11992M/PRO/SEBC/51

Treaty on European Union - Protocol on the statute of the european system of central banks and of the European Central Bank - Chapter IX: Transitional and other provisions for the ESCB - Article 51: Derogation from Article 32  

Official Journal C 191 , 29/07/1992 P. 0078

 Article 51  Derogation from Article 32 51.1. If, after the start of the third stage, the Governing Council decides that the application of Article 32 results in significant changes in national central banks' relative income positions, the amount of income to be allocated pursuant to Article 32 shall be reduced by a uniform percentage which shall not exceed 60% in the first financial year after the start of the third stage and which shall decrease by at least 12 percentage points in each subsequent financial year.  51.2. Article 51.1 shall be applicable for not more than five financial years after the start of the third stage.