Law of the Republic of Lithuania amending Article 14 of Law No I-907 on National Audit Office


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LAW OF THE REPUBLIC OF LITHUANIA
AMENDING ARTICLE 14 OF LAW No I-907 ON NATIONAL AUDIT OFFICE
 
 
23 January 2014  No XII-766
Vilnius
 
 
 
 
Article 1. Amendment of Article 14
1. Paragraph 4 of Article 14 shall be amended and set forth to read as follows:
“4. The National Audit Office may perform an audit of the activities of the Bank of Lithuania, with the exception of the performance of tasks of the European System of Central Banks and the Eurosystem, without prejudice to the activities of the external auditors selected by the Bank of Lithuania. The National Audit Office shall take into account the independence of the Bank of Lithuania and shall not give instructions to the Bank of Lithuania, the Board of the Bank of Lithuania, its members in carrying out their functions related to the performance of the tasks of the European System of Central Banks and the Eurosystem.”
2. Paragraph 4 of Article 14 shall be amended and set forth to read as follows:
“4. The National Audit Office may perform an audit of the activities of the Bank of Lithuania, with the exception of the performance of tasks of the European System of Central Banks and the Eurosystem, without prejudice to the activities of the independent external auditors of the Bank of Lithuania. The National Audit Office shall take into account the independence of the Bank of Lithuania and shall not give instructions to the Bank of Lithuania, the Board of the Bank of Lithuania, its members in carrying out their functions related to the performance of the tasks of the European System of Central Banks and the Eurosystem.”
 
Article 2. Entry into force of paragraph 2 of Article 1 of the Law                                 
Paragraph 2 of Article 1 of the Law shall enter into force on the day from which the Council of the European Union abrogates the derogation of the Republic of Lithuania according to the procedure set out in the first sentence of paragraph 1 and in the first part of paragraph 2 Article 140 of the Treaty on the Functioning of the European Union.
 
I promulgate this Law passed by the Seimas of the Republic of Lithuania.
 
PRESIDENT OF THE REPUBLIC                          DALIA GRYBAUSKAITĖ