FantasticSearch

1. The National Supervisory Authorities Cooperation Board is hereby established.

2. The National Supervisory Authorities Cooperation Board shall:

(a) exchange information about the work of national supervisory authorities and decision-making principles, best practices and procedures with regard to the implementation of the Regulation;

(b) provide recommendations to the PRB on the guidance material and reports to be issued by it;

(c) provide recommendations to the PRB for complementary items in the annual work programme of the PRB.

3. The National Supervisory Authorities Cooperation Board shall be composed of a representative and an alternate from the national supervisory authority of each Member State, both of whom shall be nominated by the national supervisory authority. The National Supervisory Authorities Cooperation Board shall elect a Chairperson and a Deputy-Chairperson from among its members. The National Supervisory Authorities Cooperation Board shall adopt its decisions by simple majority of its members. The Commission may attend the meetings of the National Supervisory Authorities Cooperation Board, without voting rights. The PRB may be invited to those meetings, on an ad hoc basis, without voting rights. Third countries may be invited to those meetings, on an ad hoc basis, without voting rights subject to the consensual agreement of the members of the National Supervisory Authorities Cooperation Board.

4. The Secretariat referred to in Article 17 shall provide the necessary administrative and technical support to the National Supervisory Authorities Cooperation Board.