Version in force , Modified +26 −462§
Amended by Regulation (EU) 2019/2175 32019R2175 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
The description of the Management Board's membership was changed from 'six other members' to 'six members', and the alternate provision now reads 'he or her' and 'him or her' instead of just 'he' and 'him'.
The paragraph on term of office, which previously formed part of paragraph 1, is now its own paragraph 2, and the balance requirement for the Management Board's composition has changed from 'balanced' to 'gender balanced'.
The former paragraph 2 provisions on voting, the Executive Director's and Commission representative's participation, and the Management Board's rules of procedure no longer appear, while the former paragraph 3 on convening and chairing meetings is renumbered as paragraph 3 and now uses 'his or her' instead of 'his'.
Cited: Art. 45, v1 (external, EUR-Lex) · Art. 45, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 30 March 2019 02010R1093-20190330 → this version, in force 1 January 2020 02010R1093-20200101
Article 45
Composition
1. The Management Board shall be composed of the Chairperson and six other members of the Board of Supervisors, elected by and from the voting members of the Board of Supervisors.
Other than the Chairperson, each member of the Management Board shall have an alternate, who may replace him or her if he or she is prevented from attending.
2. The term of office of the members elected by the Board of Supervisors shall be two-and-a-half years. That term may be extended once. The composition of the Management Board shall be gender balanced and proportionate and shall reflect the Union as a whole. The Management Board shall include at least two representatives of non-participating Member States. Mandates shall be overlapping and an appropriate rotating arrangement shall apply.
2. Decisions by the Management Board shall be adopted on the basis of a majority of the members present. Each member shall have one vote.
The Executive Director and a representative of the Commission shall participate in meetings of the Management Board without the right to vote.
The representative of the Commission shall have the right to vote on matters referred to in Article 63.
The Management Board shall adopt and make public its rules of procedure.
3. Meetings of the Management Board shall be convened by the Chairperson at his or her own initiative or at the request of at least a third of its members, and shall be chaired by the Chairperson.
The Management Board shall meet prior to every meeting of the Board of Supervisors and as often as the Management Board deems necessary. It shall meet at least five times a year.
4. The members of the Management Board may, subject to the rules of procedure, be assisted by advisers or experts. The non-voting members, with the exception of the Executive Director, shall not attend any discussions within the Management Board relating to individual financial institutions.