1.The ECB may take a revocation decision if an accredited manufacturer fails to comply with a suspension decision under Article 17.
2.The ECB shall take a revocation decision in the event of any of the following:
(a)a request from an accredited manufacturer to transfer its euro secure item activity and/or euro item activity to a new manufacturing site. In such a case, the scope of the revocation shall include the old manufacturing site from which the relevant activity is being transferred;
(b)a change in ownership of the accredited manufacturer, where such a change may directly or indirectly enable an entity involved in the intended change of the ownership structure to gain access to ECB-confidential information related to this Decision, applicable legal acts or contractual agreements in relation to the ECB, one or more NCBs or one or more accredited manufacturers;
(c)a request from an accredited manufacturer to withdraw its accreditation.
3.The ECB may take a revocation decision where it assesses that such a revocation is necessary, taking into consideration any of the following:
(a)the seriousness of a specific instance of non-compliance;
(b)the magnitude of actual or potential loss or theft of any euro secure items or euro items;
(c)whether there has been any consequential financial and reputational damage due to unauthorised publication of information related to euro secure items;
(d)the adequacy of the accredited manufacturer’s response, capacity and capability to mitigate the instance of non-compliance;
(e)the fact that specific circumstances at the manufacturing site could damage the integrity of euro banknotes as a means of payment.
4.The ECB may take a revocation decision regarding an accredited manufacturer that has not produced euro secure items or euro items for an uninterrupted period of 36 months. When taking a revocation decision on this basis, the ECB shall consider the specific circumstances of the accredited manufacturer.
5.Where the possession of any euro secure items by the accredited manufacturer could put the integrity of euro banknotes as a means of payment at risk once the revocation decision becomes effective, the ECB may require the manufacturer to take measures, such as the destruction of specified euro secure items, or delivery of these items, to the ECB or an NCB, to ensure that the manufacturer does not possess any such euro secure items once the revocation becomes effective. The ECB may conduct on-site checks to verify the effective implementation of these measures.
6.A revocation decision shall specify the date after which a manufacturer may re-apply for accreditation. This date shall be determined on the basis of the circumstances leading to the revocation and shall be at least one year from the date on which the revocation decision became effective.