Delegation of the power to adopt decisions not to object to intended macroprudential measures
Article 3
1. The Governing Council hereby delegates the power to adopt decisions not to object to intended macroprudential measures to the heads of work units nominated by the Executive Board. 2. Decisions not to object to the intended macroprudential measures referred to in paragraph 1 shall be adopted by means of a delegated decision where the criteria for the adoption of delegated decisions set out in Articles 4 and 5, as relevant, are met. 3. The decision not to object to the intended macroprudential measures referred to in paragraph 1 shall not be adopted by means of a delegated decision where the complexity of the ECB’s technical assessment or the sensitivity of the measures requires the decision to be adopted in accordance with Article 5(1) of Regulation (EU) No 1024/2013 and Article 13h of Decision ECB/2004/2. 4. Where any member of the relevant committee or ECB internal structure expresses concerns as to the substance of the intended macroprudential measures referred to in paragraph 1 while being consulted on a draft delegated decision, the criteria of Articles 4 and 5, as relevant, shall be deemed to have not been met and/or the measures shall be deemed to be sensitive within the meaning of Article 1, point 6, of this Decision.