Article 138Delegation of tasks by EBA to competent authorities

1. Where necessary for the proper performance of a supervisory task in respect of issuers of significant asset-referenced tokens or issuers of significant e-money tokens, EBA may delegate specific supervisory tasks to a competent authority. Such specific supervisory tasks may include the power to carry out requests for information in accordance with Article 122 and to conduct investigations and on-site inspections in accordance with Article 123 or 124.

2. Before delegating a task as referred to in paragraph 1, EBA 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 EBA.

3. In accordance with the delegated act on fees adopted by the Commission pursuant to Article 137(3) and Article 139, EBA shall reimburse a competent authority for the costs incurred as a result of carrying out delegated tasks.

4. EBA shall review the delegation of tasks at appropriate intervals. Such delegation may be revoked at any time.