Article 9
Limitation periods for the enforcement of penalties
1. The power of ESMA to enforce decisions taken pursuant to Articles 25j and 25k of Regulation (EU) No 648/2012 shall be subject to a limitation period of 8 years.
2. The 8-year period referred to in paragraph 1 shall start on the day following that on which the decision becomes final.
3. The limitation period for the enforcement of penalties shall be interrupted by:
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(a) |
a notification by ESMA to the person subject to proceedings of a decision varying the original amount of the fine or periodic penalty payment; |
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(b) |
any action of ESMA or an authority of third country acting at the request of ESMA, designed to enforce payment or payment terms and conditions of the fine or periodic penalty payment. |
4. Each interruption shall cause the limitation period to recommence.
5. The limitation period for the enforcement of penalties shall be suspended for so long as:
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(a) |
time to pay is allowed; |
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(b) |
enforcement of payment is suspended pursuant to a pending decision of ESMA Board of Appeal, in accordance with Article 60 of Regulation (EU) No 1095/2010, and the Court of Justice of the European Union, in accordance with Article 25n of Regulation (EU) No 648/2012. |