PART II IDENTIFICATION CRITERIA AND PROCESS

Article 4

The ECB shall notify the payment system operator of its intention to initiate a process under Article 3 in view of the identification of that payment system as a SIPS. The written notice shall state all material facts and legal grounds regarding a possible identification of the payment system concerned as a SIPS.

Article 5

Upon receipt of the written notice referred to in Article 4, the payment system operator shall be entitled to access the ECB’s files, documents or other material that serve as a basis for the identification of that payment system as a SIPS. This right shall not extend to information deemed to be confidential in relation to the ECB, a national central bank, or other third parties, including other Union institutions or bodies.