Article 107 Commencement of the Authority’s activities

the Commission may designate a Commission official to act as interim Executive Director and exercise the duties assigned to the Executive Director until the Authority has the capacity to implement its own budget and the Executive Director has taken up his or her duties following his or her appointment by the Executive Board in accordance with Article 70;

by way of derogation from Article 62(1), until the Chair of the Authority has been appointed, the interim Executive Director may convene and chair the meetings of the General Board, without the right to vote;

by way of derogation from Article 64(4), point (g), until the adoption of a decision as referred to in Article 70, the interim Executive Director shall exercise the appointing authority powers;

the Commission may offer assistance to the Authority, in particular by seconding Commission officials to carry out the activities of the Authority under the responsibility of the interim Executive Director or the Executive Director;

the interim Executive Director may authorise all payments covered by appropriations entered in the Authority’s budget and may conclude contracts, including staff contracts, following the adoption of the Authority’s establishmentmeans the actual pursuit by an obliged entity of an economic activity covered by Article 3 in a Member State or third country other than the country where its head office is located for an indefinite period and through a stable infrastructure, including:a branch or subsidiary;in the case of credit institutions and financial institutions, an infrastructure qualifying as an establishment under prudential regulation; plan.