GENERAL PROVISIONS
ARTICLE 34
Legal acts
34.1. In accordance with Article 108a of this Treaty, the ECB shall:
- make regulations to the extent necessary to implement the tasks
defined in Article 3.1., first indent, Articles 19.1, 22 or 25.2 and in
cases which shall be laid down in the acts of the Council referred to in
Article 42;
- take decisions necessary for carrying out the tasks entrusted to the
ESCB under this Treaty and this Statute;
- make recommendations and deliver opinions.
34.2. A regulation shall have general application. It shall be binding in
its entirety and directly applicable in all Member States.
Recommendations and opinions shall have no binding force.
A decision shall be binding in its entirety upon those to whom it is
addressed.
Articles 190 to 192 of this Treaty shall apply to regulations and
decisions adopted by the ECB.
The ECB may decide to publish its decisions, recommendations and
opinions.
34.3. Within the limits and under the conditions adopted by the Council
under the procedure laid down in Article 42, the ECB shall be entitled
to impose fines or periodic penalty payments on undertakings for
failure to comply with obligations under its regulations and decisions.
ARTICLE 35
Judicial control and related matters
35.1. The acts or omissions of the ECB shall be open to review or
interpretation by the Court of Justice in the cases and under the
conditions laid down in this Treaty. The ECB may institute proceedings
in the cases and under the conditions laid down in this Treaty.
35.2. Disputes between the ECB, on the one hand, and its creditors,
debtors or any other person, on the other, shall be decided by the
competent national courts, save where jurisdiction has been conferred
upon the Court of Justice.
35.3. The ECB shall be subject to the liability regime provided for in
Article 215 of this Treaty. The national central banks shall be liable
according to their respective national laws.
35.4. The Court of Justice shall have jurisdiction to give judgment
pursuant to any arbitration clause contained in a contract concluded by
or on behalf of the ECB, whether that contract be governed by public or
private law.
35.5. A decision of the ECB to bring an action before the Court of
Justice shall be taken by the Governing Council.
35.6. The Court of Justice shall have jurisdiction in disputes
concerning the fulfillment by a national central bank of obligations
under this Statute. If the ECB considers that a national central bank
has failed to fulfill an obligation under this Statute, it shall deliver a
reasoned opinion on the matter after giving the national central bank
concerned the opportunity to submit its observations. If the national
central bank concerned does not comply with the opinion within the
period laid down by the ECB, the latter may bring the matter before the
Court of Justice.
ARTICLE 36
Staff
36.1. The Governing Council, on a proposal from the Executive Board,
shall lay down the conditions of employment of the staff of the ECB.
36.2. The Court of Justice shall have jurisdiction in any dispute
between the ECB and its servants within the limits and under the
conditions laid down in the conditions of employment.
ARTICLE 37
Seat
Before the end of 1992, the decision as to where the seat of the ECB
will be established shall be taken by common accord of the
governments of the Member States at the level of Heads of State or of
Government.
ARTICLE 38
Professional secrecy
38.1. Members of the governing bodies and the staff of the ECB and
the national central banks shall be required, even after their duties
have ceased, not to disclose information of the kind covered by the
obligation of professional secrecy.
38.2. Persons having access to data covered by Community
legislation imposing an obligation of secrecy shall be subject to such
legislation.
ARTICLE 39
Signatories
The ECB shall be legally committed to third parties by the President or
by two members of the Executive Board or by the signatures of two
members of the staff of the ECB who have been duly authorized by the
President to sign on behalf of the ECB.
ARTICLE 40
Privileges and immunities.
The ECB shall enjoy in the territories of the Member States such
privileges and immunities as are necessary for the performance of its
tasks, under the conditions laid down in the Protocol on the Privileges
and Immunities of the European Communities annexed to the Treaty
establishing a Single Council and a Single Commission of the
European Communities.