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1. Where necessary for the proper performance of a supervisory task, ESMA may delegate the following supervisory tasks to the competent authority of a Member State in accordance with the guidelines issued by ESMA pursuant to Article 16 of Regulation (EU) No 1095/2010:

(a) the power to request information in accordance with Article 32 of this Regulation;

(b) the power to conduct investigations and on-site inspections in accordance with Articles 33 and 34 of this Regulation.

2. Prior to the delegation of a task in accordance with paragraph 1, ESMA shall consult the relevant competent authority about:

(a) the scope of the task to be delegated;

(b) the timetable for the performance of the task; and (c) the transmission of necessary information by and to ESMA.

3. ESMA shall reimburse the relevant competent authority for costs incurred as a result of carrying out delegated tasks. The costs to be reimbursed shall comprise all fixed costs, as well as variable costs related to the performance of the delegated tasks or the assistance provided by the competent authority to ESMA.

4. ESMA shall review any delegation made in accordance with paragraph 1 at appropriate intervals. ESMA may revoke a delegation at any time.

5. A delegation of tasks shall not affect the responsibility of ESMA nor limit ESMA’s ability to conduct and oversee the delegated activity. ESMA shall not delegate supervisory responsibilities, including authorisation decisions, final assessments and follow-up decisions concerning infringements.