Decision of the European Central Bank of 7 July 1998 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes (ECB/1998/6)

DECISION OF THE EUROPEAN CENTRAL BANK of 7 July 1998 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes (ECB/1998/6) (1999/33/EC)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK
,
Having regard to the Treaty establishing the European Community (hereinafter referred to as the 'Treaty`) and in particular to Article 105a(1) thereof and to Article 16 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter referred to as the 'Statute`),
Having regard to Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro (1) and in particular to Articles 10 and 16 thereof,
Whereas the provisions of Article 105a(1) of the Treaty, Article 16 of the Statute and Article 10 of Regulation (EC) No 974/98 on the introduction of the euro require more precise details on the denominations and specifications of the euro banknotes; whereas such details may be provided by means of a Decision of the Governing Council of the European Central Bank, published for general information in the Official Journal of the European Communities;
Whereas Council Regulation (EC) No 975/98 of 3 May 1998 on denominations and technical specifications of euro coins intended for circulation (2) stipulates that the denominations of the euro coins will range from one cent to two euros; whereas the denominations of the euro banknotes should take into account the denominations of the euro coins;
Whereas the present Decision takes into account the preparatory work carried out by the European Monetary Institute (hereinafter referred to as the 'EMI`) and, in particular with regard to the banknote designs, the results of a Europe-wide competition between banknote designers; whereas such preparatory work included consultations with European associations of several categories of banknote users in order to take into account their specific visual and technical requirements and to facilitate the recognition and acceptance of the new banknote denominations and specifications by users; whereas the European Central Bank (hereinafter referred to as the 'ECB`) is the recipient of the copyright on the designs of the euro banknotes, originally held by the EMI;
Whereas it is necessary to establish some common guiding principles according to which the commercial reproduction of the designs of banknotes will be permitted; whereas the ECB shall have recourse to the national central banks (hereinafter referred to as the 'NCBs`) of participating Member States for ad hoc authorisation to reproduce banknote designs; whereas, as a general policy, reproduction of the banknote designs to which this Decision refers shall be authorised, inter alia, for education purposes;
Whereas a common regime under which the NCBs of participating Member States are prepared to exchange mutilated or damaged euro banknotes needs to be established; whereas the need to establish a common regime also applies to the final withdrawal of banknotes when these are to be replaced by new banknotes; whereas the publication of announcements in the Official Journal of the European Communities may be accompanied by other means of publication that may facilitate due acknowledgement by the general public,