http://www.legislation.gov.uk/id/eudn/2016/12

Decision (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)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(1) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 12.1, Article 16 and Article 34.3 thereof,

Having regard to Council Regulation (EC) No 2532/98 of 23 November 1998 concerning the powers of the European Central Bank to impose sanctions1,

Having regard to 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)2,

Whereas:

(1)

Article 128(1) of the Treaty and Article 16 of the Statute of the European System of Central Banks and of the European Central Bank provide that the European Central Bank (ECB) has the exclusive right to authorise the issue of euro banknotes within the Union. This right includes the competence to take measures to protect the integrity of euro banknotes as a means of payment.

(2)

Following the entry into force of Decision ECB/2013/543, it became apparent that the ECB's power to impose appropriate and proportionate penalties, including financial penalties, in the event of non-compliance, needs to be strengthened to cover all scenarios that could require sanctions to be imposed pursuant to Article 20 of Decision ECB/2013/54.

(3)

Therefore Decision ECB/2013/54 should be amended accordingly,

HAS ADOPTED THIS DECISION: