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Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board (ESRB Regulation)RecitalsChapter I General provisions (arts. 1-3)Article 1 EstablishmentArticle 2 DefinitionsArticle 3 Mission, objectives and tasksChapter II Organisation (arts. 4-14)Article 4 StructureArticle 5 Chair and Vice-Chairs of the ESRBArticle 6 General BoardArticle 7 ImpartialityArticle 8 Professional secrecyArticle 9 Meetings of the General BoardArticle 10 Voting modalities of the General BoardArticle 11 Steering CommitteeArticle 12 Advisory Scientific CommitteeArticle 13 Advisory Technical CommitteeArticle 14 Other sources of adviceChapter III Tasks (arts. 15-18)Article 15 Collection and exchange of informationArticle 16 Warnings and recommendationsArticle 17 Follow-up of the ESRB recommendationsArticle 18 Public warnings and recommendationsChapter IV Final provisions (arts. 19-21)Article 19 Accountability and reporting obligationsArticle 20 ReviewArticle 21 Entry into forceDone at
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AI Summary of Article 10 Voting modalities of the General Board

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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 16 December 2010 - onwards
Version 2 of 2

Article 10 Voting modalities of the General Board

1. Each member of the General Board with a voting right shall have one vote.

2. Without prejudice to the voting procedures set out in Article 18(1), the General Board shall act by a simple majority of members present with voting rights. In the event of a tie, the Chair of the ESRB shall have the casting vote.

3. By derogation from paragraph 2, a majority of two-thirds of the votes cast shall be required to adopt a recommendation or to make a warning or recommendation public.

4. A quorum of two-thirds of the members with voting rights shall be required for any vote to be taken by the General Board. If the quorum is not met, the Chair of the ESRB may convene an extraordinary meeting at which decisions may be taken with a quorum of one-third. The rules of procedure referred to in Article 6(4) shall provide for adequate notice for convening an extraordinary meeting.

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