Regulations 14(1) and 15(1) (c) shall not apply in respect of voting rights attaching to shares provided to or by members of the European System of Central Banks in carrying out their functions as monetary authorities, including shares provided to or by such members under pledge or repurchase or similar agreement for liquidity granted for monetary policy purposes or within a payment system provided:

(a) the exemption under this Regulation shall apply only for a short period following the provision of the shares; and

(b) the voting rights attached to the shares during this period are not exercised.