ve
Board may, at the request of the European Parliament or on their own
initiative, be heard by the competent Committees of the European
Parliament.
ARTICLE 109c
1. In order to promote co-ordination of the policies of Member States to
the full extent needed for the functioning of the internal market, a
Monetary Committee with advisory status is hereby set up.
It shall have the following tasks:
- to keep under review the monetary and financial situation of the
Member States and of the Community and the general payments
system of the Member States and to report regularly thereon to the
Council and to the Commission;
- to deliver opinions at the request of the Council or of the
Commission, or on its own initiative for submission to those
institutions;
- without prejudice to Article 151, to contribute to the preparation of the
work of the Council referred to in Articles 73f, 73g, 103(2), (3), (4) and
(5), 103a, 104a, 104b, 104c, 109e(2), 109f(6), 109h, 109i, 109j(2) and
109k(1);
- to examine, at least once a year, the situation regarding the
movement of capital and the freedom of payments, as they result from
the application of this Treaty and of measures adopted by the Council;
the examination shall cover all measures relating to capital
movements and payments; the Committee shall report to the
Commission and to the Council on the outcome of this examination.
The Member States and the Commission shall each appoint two
members of the Monetary Committee.
2. At the start of the third stage, and Economic and Financial
Committee shall be set up. The Monetary Committee provided for in
paragraph 1 shall be dissolved.
The Economic and Financial Committee shall have the following tasks:
- to deliver opinions at the request of the Council or of the
Commission, or on its own initiative for submission to those
institutions;
- to keep under review the economic and financial situation of the
Member States and of the Community and to report regularly thereon
to the Council and to the Commission, in particular on financial
relations with third countries and international institutions;
- without prejudice to Article 151, to contribute to the preparation of the
work of the Council referred to in Article 73f, 73g, 103(2), (3),(4) and (5),
103a, 104a, 104b, 104c, 105(6), 105a(2), 106(5) and (6), 109, 109h,
109i(2) and (3), 109k(2), 109l(4) and (5), and to carry out other advisory
and preparatory tasks assigned to it by the Council;
- t