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Version status: Entered into force | Document consolidation status: No known changes
Version date: 28 December 2021 - onwards
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Article 22 Supervisory role and powers of competent authorities

1. Member States shall ensure that the competent authorities of the home Member State designated pursuant to Article 21(3) are given all supervisory, investigatory and sanctioning powers, necessary for the exercise of their functions and duties laid down in this Directive, including at least the following:

(a) the power to grant or refuse an authorisation pursuant to Articles 5 and 6;

(b) the power to withdraw an authorisation pursuant to Article 8;

(c) the power to prohibit any of the credit servicing activities;

(d) the power to conduct on-site and off-site inspections;

(e) the power to impose administrative penalties and remedial measures in accordance with the national provisions transposing Article 23;

(f) the power to review outsourcing agreements concluded between credit servicers and credit service providers in accordance with Article 12(1);

(g) the power to require credit servicers to remove members of their management or administrative organ when they fail to comply with the

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