---
instrument_id: psd-3
chunk_id: psd-3_t03
chunk_title: DELEGATED ACTS AND REGULATORY TECHNICAL STANDARDS
path: Title III
source_class: operative_text
document_type: proposal
normative_weight: non_binding
legal_status: council_compromise_text
jurisdiction: EU
effective_period:
  from: null
  to: null
articles_contained:
  - 40
  - 41
topics:
  - payments
  - payment_services
  - delegated_acts
---

# Title III - DELEGATED ACTS AND REGULATORY TECHNICAL STANDARDS

## Article 40 - Delegated acts

The Commission shall be empowered to adopt delegated acts in accordance with Article 41 to update the amounts referred to in Article 5, Article 34(1), and Article 37 to take account of inflation.

## Article 41 - Exercise of the delegation

1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article.

2. The power to adopt delegated acts referred to in Article 40 shall be conferred on the Commission for an undetermined period of time from the date of entry into force of this Directive.

3. The delegation of power referred to in Article 40 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect on the day following the publication of the decision in the Official Journal of the European Union or on a later date specified therein. It shall not affect the validity of any delegated acts already in force.

4. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.

5. A delegated act adopted pursuant to Article 40 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of 3 months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by 3 months at the initiative of the European Parliament or of the Council.