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Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (Text with EEA relevance) article 37 CELEX: 02016R1011-20250117 Delegation of tasks between competent authorities
1. In accordance with Article 28 of Regulation (EU) No 1095/2010, a competent authority may delegate its tasks under this Regulation to the competent authority of another Member State with its prior consent.
The competent authorities shall notify ESMA of any proposed delegation 60 days prior to such delegation taking effect. 2. A competent authority may delegate some of its tasks under this Regulation to ESMA, subject to the agreement of ESMA. 3. ESMA shall notify the Member States of a proposed delegation within seven days. ESMA shall publish details of any agreed delegation within five working days of notification. |