Source: OJ L, 2024/1505, 30.5.2024Current language: EN
- Digital operational resilience in the financial sector
Oversight framework
- Oversight fees
Article 5 Payment of the oversight fees
Summary What does Article 5 of the Oversight fees say?
This article sets out the practical payment mechanics for the oversight fees established elsewhere in the regulation.
It covers how, when, and in what currency critical ICT third-party service providers must pay their annual fees to the Lead Overseer, and introduces consequences for late payment.
It connects directly to Articles 3 and 4, which determine how those fees are calculated.
Important points:
- Pay oversight fees to the Lead Overseer annually, in euro, as a single instalment — by 30 April if already subject to oversight at the start of the year, or by 31 December if designated during the year.
- Payment terms on debit notes must be at least 30 days.
- Late payments will incur default interest as set out in Article 99 of Regulation (EU, Euratom) 2018/1046.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
Critical ICT third-party service providers shall pay the oversight fees referred to in Article 43 of Regulation (EU) 2022/2554 to the Lead Overseer on an annual basis.
All oversight fees shall be invoiced and paid in euro. Debit notes for oversight fees shall set payment terms of at least 30 days.
All oversight fees shall be paid based on a single instalment basis. Critical ICT third-party service providers which will be subject to oversight activities on 1 January of a given year shall pay the debit note by 30 April of that year. Critical ICT third-party service providers designated throughout the year shall pay the fees referred to in Article 4 in a single instalment by 31 December of that year.
Any late payment shall incur the default interest laid down in Article 99 of Regulation (EU, Euratom) 2018/1046.
Relevant recitals
Recital 8 Payment timeline
To ensure the timely payment of oversight fees, those fees should be paid within 30 days from the date of issuance of the Lead Overseer’s debit note. To simplify the fee payment flows, and to ensure ESAs have the necessary funds to carry out their planned supervisory activities, annual oversight fees should be paid in a single instalment during the first four months of the calendar year for which such fees are due by critical ICT third-party service providers subject to oversight activities on 1 January of that year or, in the case of critical ICT third-party service providers designated throughout that year, at the latest by the end of that year.
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.
Definition
ICT third-party service provider
Definition
critical ICT third-party service provider
Definition
ICT services
Definition
Lead Overseer