Art. 71 Exercise of the delegation | Sixth anti-money laundering (AML 6) directive | AML

This is a standard procedural article governing the Commission's power to adopt delegated acts, specifically those referenced in Article 10 (which concerns the central beneficial ownership registers).

It sets out the conditions under which that delegation operates, including its duration, how it can be revoked, the consultation requirements before adoption, and the scrutiny mechanism through which the European Parliament and Council can block a delegated act.

Important points:

The Commission is granted the power to adopt delegated acts under Article 10 for an indefinite period starting from 9 July 2024.
The European Parliament or the Council can revoke this delegation at any time, though any delegated acts already in force remain valid.
A delegated act only enters into force if neither the European Parliament nor the Council objects within a 3-month window, which can be extended by a further 3 months at the initiative of either institution.

1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article.
1. The power to adopt the delegated acts referred to in Article 10 shall be conferred on the Commission for an indeterminate period of time from 9 July 2024.
1. The delegation of power referred to in Article 10 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.
1. Before adopting a delegated act, the Commission shall consult experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making.
1. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.
1. A delegated act adopted pursuant to Article 10 shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of 3 months of notification of that act to the European Parliament and to the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by 3 months at the initiative of the European Parliament or of the Council.