45. By way of derogation from paragraph 44, the suitability assessments may, without prejudice to …

By way of derogation from paragraph 44, the suitability assessments may, without prejudice to national law, be performed as soon as practicable but in any case within one month of the appointment of the member of the management body, in any of the following cases for which the issuer of ARTs or the CASP has duly provided a justification:

• a. Shareholders, owners or members of the issuer of ARTs or of the CASP nominate and appoint members of the management body at the shareholder’s or equivalent meeting that have not been proposed by the issuer of ARTs or by the CASP or by their manage-ment body;
• b. a full individual suitability assessment prior to the appointment of an individual mem-ber or the collective suitability assessment following a change of the composition of the management body would disrupt the sound functioning of the management body, including as a result of the following situations:
• i. where the need to replace members arises suddenly or unexpectedly, e.g. death or disability of a member; and
• ii. where a member needed to be removed as the member was not any longer suitable.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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