Source: OJ L, 2024/1620, 19.6.2024Current language: EN
- Anti-money laundering
Basic legislative acts
- Anti-money laundering authority regulation (AMLAR)
Article 73 Members of the Administrative Board of Review
Summary What does Article 73 of the Anti-money laundering authority regulation (AMLAR) say?
This article sets out the appointment process and independence requirements for members of the Administrative Board of Review, which is the internal review body established under Article 72.
It covers how members are appointed, by whom, for how long, and the conditions they must meet to ensure their independence from the Authority and from outside interests.
Important points:
- The General Board in supervisory composition appoints the members of the Administrative Board of Review and two alternates for a five-year term, extendable once, following a public call published in the Official Journal of the European Union.
- Members are not bound by any instructions and must not perform any other duties within the Authority.
- Members are required to make a public declaration of commitments and interests, disclosing any direct or indirect interest that could be considered prejudicial to their independence.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
The members of the Administrative Board of Review and two alternates shall be appointed by the General Board in supervisory composition for a term of five years, which may be extended once, following a public call for expressions of interest published in the Official Journal of the European Union. They shall not be bound by any instructions.
The members of the Administrative Board of Review shall act independently and in the public interest and shall not perform any other duties within the Authority. For that purpose, they shall make a public declaration of commitments and of interests indicating any direct or indirect interest which might be considered prejudicial to their independence or the absence of any such interest.
Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.