Updated 21/12/2024
In force

Version from: 12/08/2022
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There is currently no Level 2 legal act based on or specifying Article 12.
Opinion of the European Central Bank of 27 November 2012 on various draft regulatory and implementing technical standards submitted by the European Securities and Markets Authority to the Commission to be adopted by means of Commission delegated and implementing regulations supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories (CON/2012/95)
Art. 12
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ESMAR ToolEuropean Securities and Markets Authority Regulation (ESMAR)
Article 12

Article 12 - Revocation of the delegation

Article 12

Revocation of the delegation

1.  
The delegation of power referred to in Article 10 may be revoked at any time by the European Parliament or by the Council.
2.  
The institution which has commenced an internal procedure for deciding whether to revoke a delegation of power shall endeavour to inform the other institution and the Commission within a reasonable time before the final decision is taken, indicating the delegated power which could be subject to revocation.
3.  
The decision of revocation shall put an end to the delegation of the power specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the regulatory technical standards already in force. It shall be published in the Official Journal of the European Union.