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 sanctions and in particular Article 2 thereof,
Whereas:
(1)
Decision ECB/2013/54 has been substantially amended several times. Since further amendments are to be made, Decision ECB/2013/54 should be recast in the interests of clarity.
(2)
Following the experience gained by the European Central Bank (ECB) in applying Decision ECB/2013/54, the accreditation system should be simplified by eliminating the provisional accreditation assessment stage and putting in place a single-stage assessment procedure.
(3)
The ECB attaches the utmost importance to the ethical conduct of business by accredited manufacturers and their controlling entities, all of which must conduct their business activities according to the highest standards of professional ethics. Accordingly, the ethical conduct of business should be part of the accreditation requirements, in addition to the requirements relating to security, quality, the environment and health and safety.
(4)
Security requirements are also part of the accreditation requirements. For reasons of legal certainty and clarity, the inspections and specific national central bank security checks relating to security requirements should be integrated into a separate decision and no longer be part of this Decision.
(5)
Requirements relating to the environment and health and safety are also part of the accreditation requirements. For reasons of legal certainty and clarity, the requirement for accredited printing works to conduct and to report to the ECB the outcome of analyses on chemical substances and elements of finished euro banknotes should be integrated into a separate decision and should no longer be part of this Decision.
(6)
Therefore, Decision ECB/2013/54 needs to be repealed and replaced by this Decision. To ensure a smooth transition from the previous accreditation procedures to those under this Decision, a twelve-month transitional period should be established. As regards the new provisions on the ethical conduct of business, a thirty-month transitional period should be established. This will allow accredited manufacturers to put in place all necessary measures to comply with the relevant accreditation requirements and obligations under this Decision,
HAS ADOPTED THIS DECISION: