AI Summary of Article 48 Appointment and tasks
The Authority is represented by a full-time independent Chairperson who prepares the Board of Supervisors' work: setting agendas for adoption by the Board, convening and chairing meetings, and tabling items. The Chairperson sets the Management Board's agenda for adoption by that Board, chairs its meetings and may invite it to consider a coordination group under Article 45b. The Board elects a Vice-Chairperson from among its members to act in the Chairperson's absence; the Vice-Chairperson must not be a member of the Management Board.
The Chairperson is selected on merit, skills and relevant supervisory experience via an open selection respecting gender balance and published in the Official Journal; the Board, aided by the Commission, draws up a shortlist and the Council appoints the Chairperson after European Parliament confirmation. The term is five years, extendable once; in the nine months before term end the Board evaluates performance and future duties and the Vice-Chairperson carries out the Chairperson's tasks. Removal is only on serious grounds and requires procedures involving the Commission, Council, European Parliament and consultation with the Board; the Chairperson must not prevent or participate in Board deliberations concerning his or her removal.
Article 48 Appointment and tasks
1. The Authority shall be represented by a Chairperson, who shall be a full-time independent professional.
The Chairperson shall be responsible for preparing the work of the Board of Supervisors, including setting the agenda to be adopted by the Board of Supervisors, convening the meetings and tabling items for decision, and shall chair the meetings of the Board of Supervisors.
The Chairperson shall be responsible for setting the agenda of the Management Board, to be adopted by the Management Board, and shall chair the meetings of the Management Board.
The Chairperson may invite the Management Board to consider setting up a coordination group in accordance with Article 45b.
2. The Chairperson shall be selected on the basis of merit, skills, knowledge of financial institutions and markets, and of experience relevant to financial supervision and regulation, following an open selection procedure which shall respect the principle of gender balance and shall be published in the Official Journal of the European Union. The Board of Supervisors shall draw up a shortlist of qualified candidates for the position of the Chairperson, with the assistance of the Commission. Based on the shortlist, the Council shall adopt a decision to appoint the Chairperson, after confirmation by the European Parliament.