Legal provisions of COM(2006)902 - Amendment of Directive 2006/48/EC relating to the taking up and pursuit of the business of credit institutions, as regards the implementing powers conferred to the Commission

Please note

This page contains a limited version of this dossier in the EU Monitor.

dossier COM(2006)902 - Amendment of Directive 2006/48/EC relating to the taking up and pursuit of the business of credit institutions, as regards ...
document COM(2006)902 EN
date March 11, 2008

Contents

Article 1 - Amendments

Directive 2006/48/EC is hereby amended as follows:

1.Article 150 shall be amended as follows:

(a)in paragraph 1, the introductory wording shall be replaced by the following:

‘1.   Without prejudice, as regards own funds, to the proposal that the Commission is to submit pursuant to Article 62, the technical adjustments designed to amend non-essential elements of this Directive in the following areas shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 151(2):’;

(b)paragraph 2 shall be amended as follows:

(i)in the introductory wording, the words ‘in accordance with the procedure referred to in Article 151(2)’ shall be deleted;

(ii)the following subparagraph shall be added:

‘The measures referred to in points (a), (b), (c) and (f), designed to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 151(2). The measures referred to in points (d) and (e) shall be adopted in accordance with the regulatory procedure referred to in Article 151(2a).’;

(c)paragraphs 3 and 4 shall be deleted;

2.Article 151 shall be amended as follows:

(a)paragraph 2 shall be replaced by the following:

‘2.   Where reference is made to this paragraph, Article 5a(1) to (4) and Article 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof.’;

(b)the following paragraph shall be inserted:

‘2a.   Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof.

The period laid down in Article 5(6) of Decision 1999/468/EC shall be set at three months.’;

(c)paragraph 3 shall be replaced by the following:

‘3.   By 31 December 2010, and, thereafter, at least every three years, the Commission shall review the provisions concerning its implementing powers and present a report to the European Parliament and to the Council on the functioning of those powers. This report shall examine, in particular, the need for the Commission to propose amendments to this Directive in order to ensure the appropriate scope of the implementing powers conferred on the Commission. The conclusion as to whether or not amendment is necessary shall be accompanied by a detailed statement of reasons. If necessary, the report shall be accompanied by a legislative proposal to amend the provisions conferring implementing powers on the Commission.’

Article 2 - Entry into force

This Directive shall enter into force on the day following its publication in the Official Journal of the European Union.

Article 3 - Addressees

This Directive is addressed to the Member States.