Article 103 — Amendments to Regulation (EU) No 1093/2010 — compare

103(1)

1.~~Regulation (EU) No 1093/2010 is amended as follows:~~

Regulation (EU) No 1093/2010 is amended as follows:

(1)Article 1 is amended as follows:

(a)in paragraph 2, the second subparagraph is deleted;

(b)in paragraph 5, point (h) is deleted;

(2)Article 4 is amended as follows:

(a)point (1a) is deleted;

(b)in point (2), point (iii) is deleted;

(3)in Article 8(1), point (l) is deleted;

(4)Articles 9a and 9b are deleted;

103(1)(5)

(5)~~in Article 17, paragraph 6 is replaced by the following:~~

103(1)(5)(6)

6.Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the formal opinion referred to in paragraph 4 of this Article within the period specified therein, and where it is necessary to remedy, in a timely manner, such non-compliance in order to maintain or restore neutral conditions of competition in the market or ensure the orderly functioning and integrity of the financial system, the Authority may, where the relevant requirements of the legislative acts referred to in Article 1(2) of this Regulation are directly applicable to financial institutions, adopt an individual decision addressed to a financial institution requiring it to take all necessary action to comply with its obligations under Union law, including the cessation of any practice.

~~The decision of the Authority shall be in conformity with the formal opinion issued by the Commission pursuant to paragraph 4.’;~~

103(1)(6)

(6)~~in Article 19, paragraph 4 is replaced by the following:~~

103(1)(6)(4)

4.Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority, and thereby fails to ensure that a financial institution complies with requirements directly applicable to it by virtue of the legislative acts referred to in Article 1(2) of this Regulation, the Authority may adopt an individual decision addressed to that financial institution requiring it to take all necessary action to comply with its obligations under Union law, including the cessation of any practice.’;

(5)in Article 17, paragraph 6 is replaced by the following:

6.Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the formal opinion referred to in paragraph 4 of this Article within the period specified therein, and where it is necessary to remedy, in a timely manner, such non-compliance in order to maintain or restore neutral conditions of competition in the market or ensure the orderly functioning and integrity of the financial system, the Authority may, where the relevant requirements of the legislative acts referred to in Article 1(2) of this Regulation are directly applicable to financial institutions, adopt an individual decision addressed to a financial institution requiring it to take all necessary action to comply with its obligations under Union law, including the cessation of any practice.

The decision of the Authority shall be in conformity with the formal opinion issued by the Commission pursuant to paragraph 4.’

;

(6)in Article 19, paragraph 4 is replaced by the following:

4.Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority, and thereby fails to ensure that a financial institution complies with requirements directly applicable to it by virtue of the legislative acts referred to in Article 1(2) of this Regulation, the Authority may adopt an individual decision addressed to that financial institution requiring it to take all necessary action to comply with its obligations under Union law, including the cessation of any practice.’

;

(7)in Article 33(1), the second subparagraph is deleted;

(8)in Article 40(7), the first subparagraph is replaced by the following:

‘The Board of Supervisors may decide to admit observers. In particular, the Board of Supervisors shall admit a representative of the Authority for Anti-Money Laundering and Countering the Financing of Terrorism established by Regulation (EU) 2024/1620 of the European Parliament and of the Council where matters that fall under its mandate are discussed or decided upon.

(9)in Article 81, paragraph 2b is deleted.