Version in force , Modified +212 −138§
Amended by Regulation (EU) 2019/834 32019R0834 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
Paragraphs 1 and 2 now refer to inspections of any business premises, land or property of the relevant legal persons, adding 'property' to the earlier reference to premises or land.
Paragraph 8 changes the description of who seeks judicial authorisation, now framing it as a national competent authority needing authorisation under national rules, with ESMA also applying for such authorisation and able to apply for it as a precautionary measure, rather than the earlier wording that authorisation 'shall be applied for' without naming an applicant.
Cited: Art. 63, v2 (external, EUR-Lex) · Art. 63, v1 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 1 January 2019 02012R0648-20190101 → this version, in force 17 June 2019 02012R0648-20190617
Article 63
On-site inspections
1. In order to carry out its duties under this Regulation, ESMA may conduct all necessary on-site inspections at on any business premises premises, land or land property of the legal persons referred to in Article 61(1). Where the proper conduct and efficiency of the inspection so require, ESMA may carry out conduct the on-site inspection without prior announcement.
2. The officials and other persons authorised by ESMA to conduct an on-site inspection may enter any business premises premises, land or land property of the legal persons who are subject to an investigation decision adopted by ESMA and shall have all the powers stipulated referred to in Article 62(1). They shall also have the power to seal any business premises and books or records for the period of, and to the extent necessary for, the inspection.
3. The officials and other persons authorised by ESMA to conduct … 323 unchanged words … appropriate, the assistance of the police or of an equivalent enforcement authority, so as to enable them to conduct their on-site inspection.
8. If the on-site inspection provided for in paragraph 1 or the assistance provided for in paragraph 7 requires authorisation a national competent authority to be authorised by a judicial authority according to in accordance with national law, rules, ESMA shall also apply for such authorisation. ESMA may also apply for such authorisation shall be applied for. Such authorisation may also be applied for as a precautionary measure.
9. Where authorisation as referred to in paragraph 8 is applied for, the national judicial authority shall verify that ESMA’s decision is authentic and that the coercive measures envisaged are neither arbitrary nor excessive having regard to the subject matter of the inspection. In its control of the proportionality of the coercive measures, the national judicial authority may ask ESMA for detailed explanations. Such a request for detailed explanations may in particular relate to the grounds ESMA has for suspecting that an infringement of this Regulation has taken place, as well as to the seriousness of the suspected infringement and the nature of the involvement of the person who is subjected to the coercive measures. However, the national judicial authority may not review the necessity for the inspection or demand to be provided with the information on ESMA’s file. The lawfulness of ESMA’s decision shall be subject to review only by the Court of Justice following the procedure set out in Regulation (EU) No 1095/2010.