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In this act Article 8 of 13

Article 8 — Reimbursement of national competent authorities

Financial servicesLevel 2Delegated RegulationMiFIRIn forceOfficial source

8(1)

1.In case of a delegation of tasks by ESMA to national competent authorities, the national competent authority shall not recover costs incurred while carrying out supervisory tasks delegated by ESMA directly from the DRSP.

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8(2)

2.ESMA shall reimburse a competent authority for the actual costs incurred as a result of work carried out pursuant to Regulation (EU) No 600/2014, in particular as a result of any delegation of tasks pursuant to Article 38o of Regulation (EU) No 600/2014.

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8(3)

3.ESMA shall ensure that the costs to be reimbursed to national competent authorities fulfil the following conditions:

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8(3)(a)
(a)they should be previously agreed between ESMA and the NCA;
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8(3)(b)
(b)they should be proportionate to the turnover of the relevant DRSP; and
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8(3)(c)
(c)they should not be greater than the total amount of supervisory fees paid by the relevant DRSP.
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8(4)

4.Any delegation of tasks by ESMA to national competent authorities shall be determined on an independent basis, may be revoked at any time and shall not impact the amount of fees charged to a particular DRSP.

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