Chapter II: Organisation of the Bank.

The following are members of the Payment Security Observatory: 1° A Member of Parliament and a Senator ; 2° Eight representatives of the administrations concerned: a) One representative of the General Secretariat for Defence and National Security ; b) Two representatives of the Minister for the Economy; and c) One representative of the Minister of Justice; d) Two representatives of the Minister of the Interior; e) A representative of the…

The Chairman of the Payment Card Security Observatory is appointed from among its members by the Minister for the Economy. The Chairman’s term of office is three years and is renewable. In the event of a tie, the Chairman has the casting vote.

As part of its remit, the Observatory may instruct some of its members to study particular questions and, to this end, set up working or study groups from among its members, the terms of reference and composition of which it determines by an absolute majority of its members. The Observatory may, where necessary, hear any expert.

The members of the Observatory and those who contribute to its work are bound by professional secrecy under the conditions set out in article 226-13 of the French Criminal Code.

The duties of a member of the Observatory are free of charge. Observatory members may be reimbursed for expenses incurred in the performance of their duties. The Banque de France is responsible for the operation of the Observatory. It appoints the secretary.

The Observatory adopts its rules of procedure by an absolute majority of its members. These rules shall stipulate the frequency of meetings, which may not be less than two per year. The Observatory is convened by its Chairman. Its meetings are not public. Each year, it submits a report to the Minister for the Economy and to Parliament, adopted by an absolute majority of its members. This report shall be…