1.The power to adopt the delegated acts referred to in Article 48(5) and Article 74 shall be conferred on the Commission for a period of 5 years from 6 January 2011. The Commission shall draw up a report in respect of the delegated power at the latest 6 months before the end of the five-year period. The delegation of power shall be automatically extended for periods of an identical duration, unless the European Parliament or the Council revokes it in accordance with Article 77.
2.As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.
3.The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 77 and 78.