Modalities of transfer of supervisory tasks to the ECB
Article 5
1. From 1 October 2020, the ECB shall carry out the tasks in the areas referred to in Article 4(1) and 4(2) and Article 5 of Regulation (EU) No 1024/2013 in relation to supervised entities established in the Republic of Croatia. 2. Accordingly, from that date: (a) a representative of HNB shall participate and exercise voting rights in the Supervisory Board in accordance with Article 26 of Regulation (EU) No 1024/2013; (b) a representative of HNB shall participate and, if applicable, exercise voting rights in the Steering Committee of the Supervisory Board in accordance with Articles 11 and 12 of the Rules of Procedure of the Supervisory Board of the European Central Bank ( 4 ) ; (c) representatives of HNB shall participate, in respect of policy issues relating to prudential supervision, in other committees and sub-structures assisting in the work of the ECB regarding the tasks conferred on the ECB by Regulation (EU) No 1024/2013 in accordance with their internal rules. 3. By way of derogation from paragraph 2, from the date of application of this Decision, the HNB representative to the Supervisory Board shall participate and exercise voting rights in the deliberations for the adoption by the ECB of instructions with regard to the identification of significant supervised entities established in the Republic of Croatia pursuant to Article 110 of Regulation (EU) No 468/2014 (ECB/2014/17). 4. Upon notification of instructions addressed by the ECB to HNB with regard to the identification of significant supervised entities established in the Republic of Croatia pursuant to Article 110 of Regulation (EU) No 468/2014 (ECB/2014/17), HNB shall appoint sub-coordinators for the relevant joint supervisory teams pursuant to Article 115(3) of Regulation (EU) No 468/2014 (ECB/2014/17) and shall inform the ECB of those appointments without undue delay. 5. Upon notification of instructions addressed by the ECB to HNB with regard to the identification of significant supervised entities established in the Republic of Croatia pursuant to Article 110 of Regulation (EU) No 468/2014 (ECB/2014/17), HNB shall identify as pending procedures pursuant to Article 48 of Regulation (EU) No 468/2014 (ECB/2014/17) any supervisory procedure formally initiated which requires a decision but cannot be completed before 1 October 2020. Identification of pending procedures shall include procedures pertaining to the exercise of the tasks in the areas referred to in Article 4(1)(a) and 4(1)(c) of Regulation (EU) No 1024/2013.