http://www.legislation.gov.uk/eudn/2016/12/article/1Decision (EU) 2016/955 of the European Central Bank of 6 May 2016 amending Decision ECB/2013/54 on the accreditation procedures for manufacturers of euro secure items and euro items (ECB/2016/12)Decision (EU) 2016/955 of the European Central BankDecision (EU) 2016/955 of the European Central Bank of 6 May 2016 amending Decision ECB/2013/54 on the accreditation procedures for manufacturers of euro secure items and euro items (ECB/2016/12)2020-12-12King's Printer of Acts of Parliamenthttps://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32016D0012texttext/xmlen2016-05-06 Amendment Article 1 Article 20 of Decision ECB/2013/54 is replaced by the following: Financial penalties in the case of discrepancies in quantities of euro banknotes or banknote paper Article 20 1 A manufacturer performing production of euro banknote paper or euro banknotes shall report to the ECB, in accordance with the substantive security requirements, any discrepancy in quantities of euro banknote paper or quantities of partly or fully printed euro banknotes identified during a euro secure activity at its accredited manufacturing site. 2 If a discrepancy in quantities of euro banknote paper or quantities of partly or fully printed euro banknotes occurs during a euro secure activity at the accredited manufacturing site and is not dealt with by the manufacturer in accordance with the substantive security requirements, the ECB may impose a financial penalty on the manufacturer. 3 The seriousness of the discrepancy shall be taken into account in each case when deciding on the amount of the financial penalty. In particular, the face value of the banknotes constituting the discrepancy and the seriousness of the breach of the substantive security requirements shall be taken into account. If the said face value exceeds EUR 50 000, the ECB shall impose on the manufacturer a financial penalty equal to that face value, unless the circumstances of the case justify the imposition of a different penalty. If the face value is below EUR 50 000, the ECB shall impose on the manufacturer a penalty of EUR 50 000, unless the circumstances of the case justify the imposition of a lower penalty. A financial penalty shall under no circumstances exceed EUR 500 000. 4 A financial penalty shall apply only when an infringement of the substantive security requirements by a manufacturer is clearly verified. Decisions on financial penalties shall follow the procedures laid down in Regulation (EC) No 2532/98 and Regulation (EC) No 2157/1999 of the European Central Bank (ECB/1999/4). In addition to the financial penalties, the ECB may decide to issue a warning decision, or to revoke or suspend a provisional accreditation or accreditation. Regulation (EC) No 2157/1999 of the European Central Bank of 23 September 1999 on the powers of the European Central Bank to impose sanctions (ECB/1999/4) (OJ L 264, 12.10.1999, p. 21).’