Key Benefits:
LAW OF THE REPUBLIC OF LITHUANIA
AMENDING ARTICLE 1 OF LAW No X-569 AMENDING
ARTICLES 1, 6, 7, 8, 11, 12, 14, 19, 20, 25, 31, 33,
35, 36, 38, 47, 49, 50, 53, 54, 541, 55 AND
THE HEADINGS OF CHAPTERS IV AND V,
REPEALING ARTICLES 26, 27, 28, 29, 30, 32, 37
AND SUPPLEMENTING THE ANNEX
TO THE LAW ON THE BANK OF LITHUANIA
23 January 2014 No XII-765
Vilnius
Article 1. Amendment of Article 1
Article 1 shall be amended and set forth to read as follows:
“Article 1. Amendment of Article 1
Article 1 shall be amended and set forth to read as follows:
“Article 1. The Bank of Lithuania
1. The central bank of the Republic of Lithuania shall be the Bank of Lithuania, belonging by the right of ownership to the State of Lithuania. The Bank of Lithuania shall form a part of the European System of Central Banks and shall seek the goals and perform the tasks of the European System of Central Banks having regard to the guidelines and instructions of the European Central Bank. The Bank of Lithuania shall carry out its functions and activities as far as this does not conflict with the goals of the European Central Bank and of the European System of Central Banks, and complies with the European Union legislation, including legal acts of the European Central Bank. The regulation of the activities of the Bank of Lithuania has been harmonised with the legal acts of the European Union specified in the Annex to this Law.
2. The ownership of the State of Lithuania in the Bank of Lithuania shall be expressed by the capital of the Bank of Lithuania. The assets of the Bank of Lithuania shall belong to it by the right of ownership. The Bank of Lithuania shall manage, use and dispose of, its assets in accordance with legal acts of the European Union and this Law.
