Article 3 · Revision of thresholds

1.Every two years from … [OP please insert the date = the last day of the month of August after the date of entry into force of this Regulation], the Commission shall verify that the thresholds set out in Article 2(1) correspond to the thresholds established in the World Trade Organization Agreement on Government Procurement (GPA) and shall, where necessary, revise those thresholds in accordance with this Article.

2.The Commission shall revise the thresholds set out in Article 2 in accordance with the calculation method set out in the GPA. The Commission shall calculate the value of these thresholds on the basis of the average daily value of the euro in terms of the special drawing rights (SDRs), over a 24-month period terminating on 31 August preceding the revision with effect from 1 January. The value of the revised thresholds shall, where necessary, be rounded down to the nearest thousand euros to ensure that the thresholds in force provided for by the GPA, expressed in SDRs, are observed.

3.From 1 January 202X [OP please insert year after the year of entry into force of this Regulation], and every two years thereafter, the Commission shall determine the values, in the national currencies of the Member States whose currency is not the euro, of the thresholds set out in Article 2 of this Regulation.

4.In accordance with the calculation method set out in the GPA, the Commission shall determine the values referred to in paragraph 3 on the basis of the average daily values of those currencies corresponding to the applicable threshold expressed in euros over the 24-month period terminating on 31 August preceding the revision with effect from 1 January of the following year.

5.The Commission shall publish the revised thresholds, and their corresponding values in the national currencies of the Member States whose currency is not the euro, in the Official Journal of the European Union at the beginning of the month of November following their revision.

6.Where it is necessary to revise the thresholds set out in Article 3 and where imperative grounds of urgency prevent the use of the procedure laid down in Article 141 and therefore imperative grounds of urgency so require, the procedure referred to in Article 142 shall apply to delegated acts adopted pursuant to Article 2(2).