The Treaty of the European Union, Maastricht Treaty, 7th February, 1992European Union
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The Treaty of the European Union, Maastricht Treaty, 7th February, 1992
European Union
Europe -- Economic integration; European Union; European federation
CHAPTER VIII
AMENDMENT OF THE STATUTE AND COMPLEMENTARY LEGISLATION
ARTICLE 41
Simplified amendment procedure
41.1. In accordance with Article 106(5) of this Treaty, Articles 5.1, 5.2,
5.3, 17, 18, 19.1, 22, 23, 24, 26, 32.2, 32.3, 32.4, 32.6, 33.1(a) and 36
of this Statute may be amended by the Council, acting either by a
qualified majority on a recommendation from the ECB and after
consulting the Commission, or unanimously on a proposal from the
Commission and after consulting the ECB. In either case the assent of
the European Parliament shall be required.
41.2. A recommendation made by the ECB under this Article shall
require a unanimous decision by the Governing Council.
ARTICLE 42
Complementary legislation
In accordance with Article 106(6) of this Treaty, immediately after the
decision on the date for the beginning of the third stage, the Council,
acting by a qualified majority either on a proposal from the
Commission and after consulting the European Parliament and the
ECB or on a recommendation from the ECB and after consulting the
European Parliament and the Commission, shall adopt the provisions
referred to in Articles 4, 5.4, 19.2, 20, 28.1, 29.2, 30.4, and 34.3. of this
Statute.
CHAPTER IX
TRANSITIONAL AND OTHER PROVISIONS
FOR THE ESCB
ARTICLE 43
General Provisions
43.1. A derogation as referred to in Article 109k(1) of this Treaty shall
entail that the following Articles of this Statue shall not confer any
rights or impose any obligations on the Member State concerned: 3, 6,
9.2, 12.1, 14.3, 16, 18, 19, 20, 22, 23, 26.2, 27, 30, 31, 32, 33, 34, 50
and 52.
43.2. The central banks of Member States with derogation as specified
in Article 109k(1) of this Treaty shall retain their powers in the field of
monetary policy according to national law.
43.3. In accordance with Article 109k(4) of this Treaty, "Member States"
shall be read as "Member States without derogation" in the following
Articles of this Statute: 3, 11.2, 19, 34.2 and 50.
43.4 "National central banks" shall be read as central banks of
Member States without a derogation" in the following Articles of this
Statute: 9.2, 10.1, 10.3, 12.1, 16, 17, 18, 22, 23, 27, 30, 31, 32, 33.2
and 52.
43.5. "Shareholders" shall be read as "central banks of Member
States without a derogation" in Articles 10.3 and 33.1.
43.6. "Subscribed capital of the ECB" shall be read as "capital of the
ECB subscribed by the central banks of Member States without a
derogation" in Articles 10.3 and 30.2.
ARTICLE 44
Transitional tasks of the ECB
The ECB shall take over those tasks of the EMI which, because of the
derogations of one or more Member States, still have to be performed
in the third stage.
The ECB shall give advice in the preparations for the abrogation of the
derogations specified in Article 109k of this Treaty.
ARTICLE 45
The General Council of the ECB
45.1. Without prejudice to Article 106(3) of this Treaty, the General
Council shall be constituted as a third decision-making body of the
ECB.
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