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Article 32 › 8

AMLA
REGULATION (EU) 2024/1620 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 31 May 2024 establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010 (Text with EEA relevance) · European Union

On the tenth working day after the decision authorising the transfer of tasks and powers in relation to the non-selected obliged entity has been notified to the Authority, the non-selected obliged entity shall be deemed a selected obliged entity for the purposes of the exercise of the tasks referred to in Article 5(2) and the powers referred to in Article 6(1) and Articles 17 to 23. The Commission decision shall set a time limit for the exercise of those tasks and powers, upon the expiry of which they shall be automatically transferred back to the financial supervisor concerned.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04