- Latest available (Revised)
- Original (As adopted by EU)
Decision of the European Central Bank of 19 March 2009 amending Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank (ECB/2009/5) (2009/328/EC)
You are here:
- Decisions originating from the EU
- 2009 No. 5
- Introduction
What Version
Opening Options
More Resources
Legislation originating from the EU
When the UK left the EU, legislation.gov.uk published EU legislation that had been published by the EU up to IP completion day (31 December 2020 11.00 p.m.). On legislation.gov.uk, these items of legislation are kept up-to-date with any amendments made by the UK since then.
This item of legislation originated from the EU
Legislation.gov.uk publishes the UK version. EUR-Lex publishes the EU version. The EU Exit Web Archive holds a snapshot of EUR-Lex’s version from IP completion day (31 December 2020 11.00 p.m.).
Status:
This is the original version as it was originally adopted in the EU.
This legislation may since have been updated - see the latest available (revised) version
Decision of the European Central Bank
of 19 March 2009
amending Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank
(ECB/2009/5)
(2009/328/EC)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the Statute of the ESCB), and in particular Article 10.2 and Article 12.3 thereof,
Whereas:
(1) Upon adoption of the euro by Slovakia the number of members of the Governing Council of the European Central Bank (ECB) exceeds 21. Article 10.2 of the Statute of the ESCB provides that as from the date on which the number of members of the Governing Council exceeds 21, each member of the Executive Board will have one vote and the number of governors with a voting right will be 15. It also specifies the rules on the rotation of the voting rights. Under the sixth indent of Article 10.2, the Governing Council, acting by a two-thirds majority of all its members, may decide to postpone the start of the rotation system until the date on which the number of governors exceeds 18. In December 2008 the Governing Council decided to postpone the start of the rotation system until such a date(1).
(2) Under the sixth indent of Article 10.2 of the Statute of the ESCB, the Governing Council, acting by a two-thirds majority of all its members, has to take all measures necessary for the implementation of the rotation system. These measures cover: (i) the rotation rate: the number of governors losing or gaining voting rights at the same time; (ii) the rotation period: the length of the period during which the composition of voting governors does not change; (iii) how governors will be ordered within their groups; and (iv) the transition from a two to a three-group system. The Governing Council has decided to take such measures, which require amendment of Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank(2), to be applied as from the date on which the number of governors exceeds 18.
(3) The implementation of the rotation system respects the principles of equal treatment of governors, transparency and simplicity,
HAS DECIDED AS FOLLOWS:
(1)
Decision ECB/2008/29 of 18 December 2008 to postpone the start of the rotation system in the Governing Council of the European Central Bank (OJ L 3, 7.1.2009, p. 4).
Options/Help
Print Options
PrintThe Whole Decision
PrintThis Introductory Text only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As adopted by EU): The original version of the legislation as it stood when it was first adopted in the EU. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as adopted version that was used for the EU Official Journal
- lists of changes made by and/or affecting this legislation item
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as adopted version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.