Plurality of mandates

According to Article 62, § 1 of the Banking Law, members of the management body must devote sufficient time to the exercise of their function in the institution. This general principle of time commitment is further detailed in the subsequent paragraphs.

For significant institutions, the Banking Law contains specific quantitative restrictions on plurality of mandates. The NBB explains how these rules are interpreted in an external guideline.

Regarding the exercise of external functions, the Regulation of the NBB of 6 December 2011 and Circular PPB-2006-13-CPB-CPA of 13 June 2016 are also relevant.