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In this act Article 7 of 9

Article 7 — Limitation periods for the enforcement of penalties

Financial servicesLevel 2Delegated RegulationMiCAIn forceOfficial source

7(1)

1.The power of the EBA to enforce decisions taken pursuant to Articles 131 and 132 of Regulation (EU) 2023/1114 shall be subject to a limitation period of five years.

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7(2)

2.The limitation period referred to in paragraph 1 shall be calculated from the day following that on which the decision becomes final.

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7(3)

3.The limitation period for the enforcement of penalties shall be interrupted by any action of EBA, or of a competent authority acting at the request of the EBA, in accordance with Article 138 of Regulation (EU) 2023/1114, designed to enforce payment or payment terms and conditions of the fine or periodic penalty payment.

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7(4)

4.Each interruption referred to in paragraph 3 shall restart the limitation period.

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7(5)

5.The limitation period for the enforcement of penalties shall be suspended for so long as:

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7(5)(a)
a)time to pay is allowed;
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7(5)(b)
b)enforcement of payment is suspended pursuant to a pending decision of the EBA Board of Appeal in accordance with Article 60 of Regulation (EU) No 1093/2010, and a review by the Court of Justice of the European Union in accordance with Article 136 of Regulation (EU) 2023/1114.\
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