The Treaty of the European Union, Maastricht Treaty, 7th February, 1992European Union
History
The Treaty of the European Union, Maastricht Treaty, 7th February, 1992
European Union
Europe -- Economic integration; European Union; European federation
In this connection the powers
of the Council of the ECB in respect of national central banks shall be
the same as those conferred upon the commission in respect of
Member States by Article 169. If the Court of Justice finds that a
national central bank has failed to fulfill an obligation under this
Treaty, that bank shall be required to take the necessary measures to
comply with the judgment of the Court of Justice."
58) Article 184 shall be replaced by the following:
"ARTICLE 184
Notwithstanding the expiry of the period laid down in the fifth
paragraph of Article 173, any party may, in proceedings in which a
regulation adopted jointly by the European Parliament and the Council,
or a regulation of the Council, of the Commission, or of the ECB is at
issue, plead the grounds specified in the second paragraph of Article
173 in order to invoke before the Court of Justice the inapplicability of
that regulation."
59) The following section shall be inserted:
"SECTION 5
THE COURT OF AUDITORS
ARTICLE 188a
The Court of Auditors shall carry out the audit.
ARTICLE 188b
1. The Court of Auditors shall consist of twelve members.
2. The members of the Court of Auditors shall be chosen from among
persons who belong or have belonged in their respective countries to
external audit bodies or who are especially qualified for this office.
Their independence must be beyond doubt.
3. The members of the Court of Auditors shall be appointed for a term
of six years by the Council, acting unanimously after consulting the
European Parliament.
However, when the first appointments are made, four members of the
Court of Auditors, chosen by lot, shall be appointed for a term of office
of four years only.
The members of the Court of Auditors shall be eligible for
reappointment.
They shall elect the President of the Court of Auditors from among their
number for a term of three years. The President may be re-elected.
4. The members of the Court of Auditors shall, in the general interest of
the Community, be completely independent in the performance of their
duties.
In the performance of these duties, they shall neither seek nor take
instructions from any government or from any other body. They shall
refrain from any action incompatible with their duties.
5. The members of the Court of Auditors may not, during their term of
office, engage in any other occupation, whether gainful or not. When
entering upon their duties they shall give a solemn undertaking that,
both during and after their term of office, they will respect the
obligations arising therefrom and in particular their duty to behave
with integrity and discretion as regards the acceptance, after they
have ceased to hold office, of certain appointments or benefits.
6. Apart from normal replacement, or death, the duties of a member of
the Court of Auditors shall end when he resigns, or is compulsorily
retired by a ruling of the Court of Justice pursuant to paragraph 7.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account