Appointment of management body of a bridge institution

Article 41 (1) (b) provides for a double alternative as regards the appointment of the management body of the institution depending on the ownership structure of the institution. Where the ownership structure is fragmented and it is not possible for the majority shareholders to directly and swiftly appoint the members of the management body, the resolution authority should appoint those members, until the shareholders can meet and decide upon the institution 19s management body. In that case the resolution authority shall approve the members so designated. Disclaimer: This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General Financial Stability, Financial Services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.