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Document 11992M/PRO/SEBC/34

Treaty on European Union - Protocol on the statute of the european system of central banks and of the European Central Bank - Chapter VII: General provisions - Article 34: Legal acts

OJ C 191, 29.7.1992, p. 75 (ES, DA, DE, EL, EN, FR, IT, NL, PT)

Legal status of the document In force

ELI: http://data.europa.eu/eli/treaty/teu/pro_3/art_34/sign

11992M/PRO/SEBC/34

Treaty on European Union - Protocol on the statute of the european system of central banks and of the European Central Bank - Chapter VII: General provisions - Article 34: Legal acts

Official Journal C 191 , 29/07/1992 P. 0075


Article 34

Legal acts

34.1. In accordance with Article 108a of this Treaty, the ECB shall:

- make regulations to the extent necessary to implement the tasks defined in Article 3.1, first indent, Articles 19.1, 22 or 25.2 and in cases which shall be laid down in the acts of the Council referred to in Article 42;

- take decisions necessary for carrying out the tasks entrusted to the ESCB under this Treaty and this Statute;

- make recommendations and deliver opinions.

34.2. A regulation shall have general application. It shall be binding in its entirety and directly applicable in all Member States.

Recommendations and opinions shall have no binding force.

A decision shall be binding in its entirety upon those to whom it is addressed.

>Articles 190 to 192 of this Treaty shall apply to regulations and decisions adopted by the ECB.

The ECB may decide to publish its decisions, recommendations and opinions.

34.3. Within the limits and under the conditions adopted by the Council under the procedure laid down in Article 42, the ECB shall be entitled to impose fines or periodic penalty payments on undertakings for failure to comply with obligations under its regulations and decisions.

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