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In this act Article 6 of 7

Article 6 — Voluntary sharing and delegation of tasks

Financial servicesLevel 2RTSEMIRIn forceOfficial source

6(1)

1.College members shall agree upon detailed terms of any specific delegation arrangements and arrangements for the voluntary entrustment of tasks to other members, in particular in the case of delegations which will result in the delegation of a member’s main supervisory tasks.

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6(2)

2.Parties to specific delegation arrangements and arrangements for the voluntary entrustment of tasks shall agree on detailed terms which cover at least the following topics:

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6(2)(a)
(a)the specific activities in clearly specified areas that will be entrusted or delegated;
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6(2)(b)
(b)the procedures and processes to be applied;
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6(2)(c)
(c)the role and the responsibilities of each party;
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6(2)(d)
(d)the type of information to be exchanged among the parties.
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6(3)

3.The sharing and delegation of tasks shall not purport to result in a change in the allocation of the decision-making power of the CCP’s competent authority.

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