Article 7
Limitation periods for the enforcement of penalties
1. The power of ESMA to enforce decisions taken pursuant to Articles 60 and 61 of Regulation (EU) 2023/2631 shall be subject to a limitation period of five years.
2. The limitation period referred to in paragraph 1 shall be calculated from the day following that on which the decision becomes final.
3. The limitation period for the enforcement of penalties shall be interrupted by any action of ESMA designed to enforce payment or payment terms and conditions of the fine or periodic penalty payment.
4. Each interruption as referred to in paragraph 3 shall start a new limitation period as referred to in paragraph 1.
5. The limitation period referred to in paragraph 1shall be suspended for so long as:
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(a) |
time to pay is allowed; |
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(b) |
enforcement of payment is suspended pursuant to a pending decision of ESMA Board of Appeal in accordance with Article 60 of Regulation (EU) No 1095/2010, and by the Court of Justice of the European Union in accordance with Article 65 of Regulation (EU) 2023/2631. |