natgillin/translations-raw huggingface dataset:
In accordance with Article 106 ( 1 ) of this Treaty , the ESCB shall be composed of the ECB and of the central banks of the Member States (' national central banks ') .
In accordance with Article 106 ( 1 ) of this Treaty , the ESCB shall be composed of the ECB and of the central banks of the Member States (' national central banks ') .
T h e Institut monttaire luxembourgeois will be the cenual bank of Luxembourg .
T h e Institut monttaire luxembourgeois will be the cenual bank of Luxembourg .
CHAPTER I1 OBJECTIVES AND TASKS OF T H E ESCB
CHAPTER I1 OBJECTIVES AND TASKS OF T H E ESCB
Article 4 Advisory functions In accordance with Anicle 105 ( 4 ) of this Treaty : ( a ) the ECB shall be consulted :
Article 4 Advisory functions In accordance with Anicle 105 ( 4 ) of this Treaty : ( a ) the ECB shall be consulted :
- o n any proposed Community act in its fields of competence ;
- o n any proposed Community act in its fields of competence ;
- by national authorities regarding any draft legislative provision in its fields of competence , but within the limits and under the conditions set out by the Council in accordance with the procedure laid down in Article 42 ;
- by national authorities regarding any draft legislative provision in its fields of competence , but within the limits and under the conditions set out by the Council in accordance with the procedure laid down in Article 42 ;
( b ) the ECB may submit opinions to the appropriate Community institutions o r bodies o r t o national authorities o n matters in its fields of competence .
( b ) the ECB may submit opinions to the appropriate Community institutions o r bodies o r t o national authorities o n matters in its fields of competence .
In accordance with Article 105 ( 1 ) of this Treaty , the primary objective of the ESCB shall be to maintain price stability .
In accordance with Article 105 ( 1 ) of this Treaty , the primary objective of the ESCB shall be to maintain price stability .
Without prejudice t o the objective of price stability , it shall support the general economic policies in the Community with a view t o contributing t o the achievement of the objectives of the Community as laid doom in Article 2 of this Treaty .
Without prejudice t o the objective of price stability , it shall support the general economic policies in the Community with a view t o contributing t o the achievement of the objectives of the Community as laid doom in Article 2 of this Treaty .
The ESCB shall act in accordance with the principle of an open market economy with free competition , favouring an efficient alloution of resources , and in compliance with the principles set out in Article 3a of this Treaty .
The ESCB shall act in accordance with the principle of an open market economy with free competition , favouring an efficient alloution of resources , and in compliance with the principles set out in Article 3a of this Treaty .
Article I CoUedion of statistical information 5.1 .
Article I CoUedion of statistical information 5.1 .
In order to undertake the tasks of the ESCB , the ECB , assisted by the national central banks , shall collect the necessary statistical information either from the competent national authorities o r directly from cconomlc ageno .
In order to undertake the tasks of the ESCB , the ECB , assisted by the national central banks , shall collect the necessary statistical information either from the competent national authorities o r directly from cconomlc ageno .
For these purposes it shall cooperate with the Community institurions o r bodies and with the competent authorities of the Member States o r third countries and with international organizations .
For these purposes it shall cooperate with the Community institurions o r bodies and with the competent authorities of the Member States o r third countries and with international organizations .
T h e national central banks shall carry out , t o the extent possible , the tasks described in Anicle 5.1 .
T h e national central banks shall carry out , t o the extent possible , the tasks described in Anicle 5.1 .
T h e ECB shall contribute to the harmonization , where necessary , of the rules and pncrices governing the collection , compilation and distribution of statistics in the areas within i o fields of competence .
T h e ECB shall contribute to the harmonization , where necessary , of the rules and pncrices governing the collection , compilation and distribution of statistics in the areas within i o fields of competence .
T h e Council , in accordance with the procedure laid down in Article 42 , shall define the natural and legal persons subject t o reporting requirements , the confidentiality regime and the appropriate provisions for enforcement .
T h e Council , in accordance with the procedure laid down in Article 42 , shall define the natural and legal persons subject t o reporting requirements , the confidentiality regime and the appropriate provisions for enforcement .
In accordance with Article 105 ( 2 ) of this Treaty , h e basic tasks t o be carried out through the ESCB shall be :
In accordance with Article 105 ( 2 ) of this Treaty , h e basic tasks t o be carried out through the ESCB shall be :
- t o conduct foreign exchange operations consistent with the provisions of Article 109 of h i s Treaty ;
- t o conduct foreign exchange operations consistent with the provisions of Article 109 of h i s Treaty ;
- t o hold and manage the official foreign reselves of the Member States ;
- t o hold and manage the official foreign reselves of the Member States ;
- t o promote the smooth operation of payment systems .
- t o promote the smooth operation of payment systems .
In accordance with Article 105 ( 3 ) of this Treaty , the third indent of Anicle 3.1 shall be without prejudice to
In accordance with Article 105 ( 3 ) of this Treaty , the third indent of Anicle 3.1 shall be without prejudice to
No C 191/70
No C 191/70
Article 6 International cooperation 6.1 .
Article 6 International cooperation 6.1 .
In the field of intemarional cooperation involving
In the field of intemarional cooperation involving
In accordance with Anicle 106 ( 3 ) of this Treary , the decision-making bodies of the ECB shall be the Governing Council and the Executive Board .
In accordance with Anicle 106 ( 3 ) of this Treary , the decision-making bodies of the ECB shall be the Governing Council and the Executive Board .
the tasks entrusted to the ESCB , the ECB shall decide how the ESCB shall be represented .
the tasks entrusted to the ESCB , the ECB shall decide how the ESCB shall be represented .
The ECB and , subject to its approval , the national cenual banks may participate in international monetary institutions .
The ECB and , subject to its approval , the national cenual banks may participate in international monetary institutions .
Articles 6.1 and 6.2 shall be without prejudice to Article 109 ( 4 ) of this Treary .
Articles 6.1 and 6.2 shall be without prejudice to Article 109 ( 4 ) of this Treary .
CHAPTER III ORGANUATION OF THE ESCB
CHAPTER III ORGANUATION OF THE ESCB
The Governing Council 10.1 .
The Governing Council 10.1 .
In accordance with Article 109a ( l ) of this Treaty , the Governing Council shall comprise the members of the Execurive Board of the ECB and the Governors of the national central banks .
In accordance with Article 109a ( l ) of this Treaty , the Governing Council shall comprise the members of the Execurive Board of the ECB and the Governors of the national central banks .
Subject to Article 10.3 , only members of the Governing Council present in person shall have the right to vote .
Subject to Article 10.3 , only members of the Governing Council present in person shall have the right to vote .
By way of derogation from this rule , the Rules of Procedure referred to in Article 12.3 may lay down that members of the Governing Council may cast their vote by means of teleconferencing .
By way of derogation from this rule , the Rules of Procedure referred to in Article 12.3 may lay down that members of the Governing Council may cast their vote by means of teleconferencing .
These rules shall also provide that a member of the Governing Council who is prevented from voting for a prolonged period may appoint an alternate as a member of the Governing Council .
These rules shall also provide that a member of the Governing Council who is prevented from voting for a prolonged period may appoint an alternate as a member of the Governing Council .
Article 7 Independence In accordance with Article 107 of this Treary , when exercising the powers and carrying out the m k s and duties conferred upon them by this Treaty and this Statute , neither the ECB , nor a national cenual bank , nor any member of their decision-making bodies shall seek o r take instructions from Community institutions or bodies , from any government of a Member State or from any other body .
Article 7 Independence In accordance with Article 107 of this Treary , when exercising the powers and carrying out the m k s and duties conferred upon them by this Treaty and this Statute , neither the ECB , nor a national cenual bank , nor any member of their decision-making bodies shall seek o r take instructions from Community institutions or bodies , from any government of a Member State or from any other body .
The Community insritutions and bodies and the governments of the Member States undenake t o respect this principle and not to seek to influence the members of the decision-making bodies of the ECB o r of the national central banks in the performance of their tasks .
The Community insritutions and bodies and the governments of the Member States undenake t o respect this principle and not to seek to influence the members of the decision-making bodies of the ECB o r of the national central banks in the performance of their tasks .
Article 8 Genenl principle The ESCB shall be governed by the decision-making bodies of the ECB .
Article 8 Genenl principle The ESCB shall be governed by the decision-making bodies of the ECB .
Subject to Articles 10.3 and 11.3 , each member of the Governing Council shall have one vote .
Subject to Articles 10.3 and 11.3 , each member of the Governing Council shall have one vote .
Save as otherwise provided for in this Statute , the Governing Council shall act by a simple majority .
Save as otherwise provided for in this Statute , the Governing Council shall act by a simple majority .
In the event of a tie , the President shall have the casting vote .
In the event of a tie , the President shall have the casting vote .
In order for the Governing Council to vote , there shall be a quorum of two-thirds of the members .
In order for the Governing Council to vote , there shall be a quorum of two-thirds of the members .
If the quorum is not met , the President may convene an extraordinary meeting at which decisions may be taken without regard to the quorum .
If the quorum is not met , the President may convene an extraordinary meeting at which decisions may be taken without regard to the quorum .
For any decisions to be taken under Anicles 28 , 29 , 30 , 32 , 33 and 51 , the votes in the Governing Council shall be weighted according to the national central banks » shares in the subscribed capital of the ECB .
For any decisions to be taken under Anicles 28 , 29 , 30 , 32 , 33 and 51 , the votes in the Governing Council shall be weighted according to the national central banks » shares in the subscribed capital of the ECB .
The weights of the votes of the members of the Executive Board shall be zero .
The weights of the votes of the members of the Executive Board shall be zero .
A decision requiring a qualified majority shall be adopted if the votes cast in favour represent at least two thirds of the subscribed capital of the ECB and represent at least half of the shareholders .
A decision requiring a qualified majority shall be adopted if the votes cast in favour represent at least two thirds of the subscribed capital of the ECB and represent at least half of the shareholders .
If a Governor is unable to be present , he may nominate an alternate to cast his weighted vote .
If a Governor is unable to be present , he may nominate an alternate to cast his weighted vote .
The European Gatd Bank 9.1 .
The European Gatd Bank 9.1 .
The ECB which , in accordance with Article 106 ( 2 )
The ECB which , in accordance with Article 106 ( 2 )
of this Treaty , shall have legal personality , shall enjoy in each of the Member States the most extensive legal capacity accorded to legal persons under its law ;
of this Treaty , shall have legal personality , shall enjoy in each of the Member States the most extensive legal capacity accorded to legal persons under its law ;
it may , in panicular , acquire or dispose of movable and immovable property and may be a party to legal proceedings .
it may , in panicular , acquire or dispose of movable and immovable property and may be a party to legal proceedings .
The ECB shall ensure that the tasks conferred upon the ESCB under Anicle 105 ( 2 ) , ( 3 ) and ( 5 ) of this Treaty are implemented either by its own activities pursuant to this Statute or through the national cenual banks pursuant to Articles 12.1 and 14 .
The ECB shall ensure that the tasks conferred upon the ESCB under Anicle 105 ( 2 ) , ( 3 ) and ( 5 ) of this Treaty are implemented either by its own activities pursuant to this Statute or through the national cenual banks pursuant to Articles 12.1 and 14 .
The proceedings of the meetings shall be confidential .
The proceedings of the meetings shall be confidential .
The Governing Council may decide to make the ourcame of its deliberations public .
The Governing Council may decide to make the ourcame of its deliberations public .
The Governing Council shall meet at least ten times a year .
The Governing Council shall meet at least ten times a year .
Anicle 11
Anicle 11
The Executive B o v d 11.1 .
The Executive B o v d 11.1 .
In accordance with Article 109a ( 2 )( a ) of this Treary , the Execurive Board shall comprise the President .
In accordance with Article 109a ( 2 )( a ) of this Treary , the Execurive Board shall comprise the President .
the Vice-President and four other members .
the Vice-President and four other members .
N o C 191/71
N o C 191/71
The members shall perform their duties on a full-time basis .
The members shall perform their duties on a full-time basis .
N o member shall engage in any occupation , whether gainful or not , unless exemption is exceptionally granted by the Governing Council .
N o member shall engage in any occupation , whether gainful or not , unless exemption is exceptionally granted by the Governing Council .
In accordance with Anicle 109a ( 2 )( b ) of this Treaty , the President , the Vice-President and the other Members of the Executive Board shall be appoinvd fmm among persons of recognized standing and professional experience in monetary or banking matters by common accord of the governments of the Member Stavs at the level of the Heads of State or of Government , on a recommendation from the Council after it has wnsulvd the European Parliament and the Governing Council .
In accordance with Anicle 109a ( 2 )( b ) of this Treaty , the President , the Vice-President and the other Members of the Executive Board shall be appoinvd fmm among persons of recognized standing and professional experience in monetary or banking matters by common accord of the governments of the Member Stavs at the level of the Heads of State or of Government , on a recommendation from the Council after it has wnsulvd the European Parliament and the Governing Council .
supply of reserves in the ESCB , and shall establish the necessary guidelines for their implementation .
supply of reserves in the ESCB , and shall establish the necessary guidelines for their implementation .
The Executive Board shall implement monetaly policy in accordance with the guidelines and decisions laid down by the Governing Council .
The Executive Board shall implement monetaly policy in accordance with the guidelines and decisions laid down by the Governing Council .
In doing so the Executive Board shall give the necessaly instructions to national central banks .
In doing so the Executive Board shall give the necessaly instructions to national central banks .
In addition the Executive Board may have certain powers delegavd to it where the Governing Council so decides .
In addition the Executive Board may have certain powers delegavd to it where the Governing Council so decides .
T o the extent deemed possible and appropriate and without prejudice to the provisions of this Article , the ECB shall have recourse to the national central banks W carly out operations which form part of the tasks of the ESCB .
T o the extent deemed possible and appropriate and without prejudice to the provisions of this Article , the ECB shall have recourse to the national central banks W carly out operations which form part of the tasks of the ESCB .
The Executive Board shall have responsibility for the preparation of meetings of the Governing Council .
The Executive Board shall have responsibility for the preparation of meetings of the Governing Council .
The Governing Council shall adopt Rules of Procedure which devrmine the internal organization of the ECB and its decision-making bodies .
The Governing Council shall adopt Rules of Procedure which devrmine the internal organization of the ECB and its decision-making bodies .
The Governing Council shall exercise the advisoly functions referred t o in Anicle 4 .
The Governing Council shall exercise the advisoly functions referred t o in Anicle 4 .
The Governing Council shall take the decisions referred W in Article 6 .
The Governing Council shall take the decisions referred W in Article 6 .
Their term of office shall be S years and shall not be renewable .
Their term of office shall be S years and shall not be renewable .
Only nationals of Member States may be members of the Executive Board .
Only nationals of Member States may be members of the Executive Board .
The terms and conditions of employment of the members of the Executive Board , in particular their salaries , pensions and other social security benefits shall be the subject of contracts with the ECB and shall be fixed by the Governing Council on a proposal from a Committee comprising three members appoinvd by the Governing Council and three members appointed by the Council .
The terms and conditions of employment of the members of the Executive Board , in particular their salaries , pensions and other social security benefits shall be the subject of contracts with the ECB and shall be fixed by the Governing Council on a proposal from a Committee comprising three members appoinvd by the Governing Council and three members appointed by the Council .
The members of the Executive Board shall not have the right W vote on matters referred to in this paragraph .
The members of the Executive Board shall not have the right W vote on matters referred to in this paragraph .
If a member of the Executive Board no longer fulfils the conditions required for the performance of his duties or if he has been guilty of serious misconduct , the Court of Justice may , on application by the Governing Council or the Executive Board , compulsorily retire him .
If a member of the Executive Board no longer fulfils the conditions required for the performance of his duties or if he has been guilty of serious misconduct , the Court of Justice may , on application by the Governing Council or the Executive Board , compulsorily retire him .
Each member of the Executive Board present in person shall have the right to vote and shall have , for that purpose , one vote .
Each member of the Executive Board present in person shall have the right to vote and shall have , for that purpose , one vote .
Save as otherwise provided , the Executive Board shall act by a simple majority of the votes cast .
Save as otherwise provided , the Executive Board shall act by a simple majority of the votes cast .
The voting arrangements shall be specified in the Rules of Pmccdure referred to in Article 12.3 .
The voting arrangements shall be specified in the Rules of Pmccdure referred to in Article 12.3 .
The Executive' Board shall be responsible for the current business of the ECB .
The Executive' Board shall be responsible for the current business of the ECB .
Any vacancy on the Executive Board shall be filled by the appointment of a new member in accordance with Anicle 11.2 .
Any vacancy on the Executive Board shall be filled by the appointment of a new member in accordance with Anicle 11.2 .
Article 13 The President 13.1 .
Article 13 The President 13.1 .
The President or , in his absence , the VicePresident shall chair the Governing Council and the Executive Board of the ECB .
The President or , in his absence , the VicePresident shall chair the Governing Council and the Executive Board of the ECB .
Without prejudice to Anicle 39 , the President or his nominee shall represent the ECB externally .
Without prejudice to Anicle 39 , the President or his nominee shall represent the ECB externally .
In accordance with Anicle 108 of this Treaty , each Member Stav shall ensure , at the lavst 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 .
In accordance with Anicle 108 of this Treaty , each Member Stav shall ensure , at the lavst 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 .
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 .
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 .
Article 12 Responsibities of the dccis' mn -& g bodies
Article 12 Responsibities of the dccis' mn -& g bodies
T h e Governing Council shall adopt the guidelines
T h e Governing Council shall adopt the guidelines
and take the decisions necessary to ensure the of the tasks entrusted W the ESCB under this Treaty and this Statute .
and take the decisions necessary to ensure the of the tasks entrusted W the ESCB under this Treaty and this Statute .
The Governing Council shall formulate the monetary policy of the Community including , as appropriate , decisions relating to intermediate monetaly objectives , key interest rates and the
The Governing Council shall formulate the monetary policy of the Community including , as appropriate , decisions relating to intermediate monetaly objectives , key interest rates and the
A Governor may be reliwed from officc 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 Governor may be reliwed from officc 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 o n grounds of infringement of this Treaty or of any rule of law relating W its application .
A decision to this effect may be referred to the Court of Justice by the Governor concerned or the Governing Council o n grounds of infringement of this Treaty or of any rule of law relating W its application .
N o C 191/72
N o C 191/72
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 u s e may be .
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 u s e may be .