EU regulatory register · AMLR
Article 85Exercise of the delegation
CELEX 32024R1624 · Read on 2026-08-22
Short answer
1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article.
Verbatim from the article. Source: NovaCopilot · https://legal.exploreworldai.com/eu/rattsakter/penningtvatt-2024-1624/artikel-85 · Short answer as data · Official text
Anti-money laundering (AMLR) in short
Obliged entities must know their customers, identify beneficial owners and report suspicious transactions. Cash over EUR 10,000 is banned.
- Who is a beneficial owner?
- When must a suspicious transaction be reported?
- Does the EUR 10,000 cash limit apply to everyone?
Source: NovaCopilot
Official text
Read from the EU Publications Office for this CELEX number. The wording stands as published; nothing here is rewritten or summarised.
1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article.
2. The power to adopt delegated acts referred to in Articles 29, 30, 31, 34, 43, 52 and 68 shall be conferred on the Commission for an indeterminate period of time from 9 July 2024.
3. The delegation of power referred to in Articles 29, 30, 31, 34, 43, 52 and 68 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.
4. Before adopting a delegated act, the Commission shall consult experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making.
5. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.
6. A delegated act adopted pursuant to Article 29, 30, 31 or 34 shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of 1 month of notification of that act to the European Parliament and to the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by 1 month at the initiative of the European Parliament or of the Council.
7. A delegated act adopted pursuant to Article 43, 52 or 68 shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of 3 months of notification of that act to the European Parliament and to the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by 3 months at the initiative of the European Parliament or of the Council.
Follow-up questions
The text is quoted from the official source and is not legal advice. A national court reads the language version that binds in its jurisdiction.
Verifiable trust signals
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