Considerations on COM(2017)792 - Amendment of Directive (EU) 2016/97 on distribution of assurances as regards the date of application of Member States' transposition measures - Main contents
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dossier | COM(2017)792 - Amendment of Directive (EU) 2016/97 on distribution of assurances as regards the date of application of Member States' ... |
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document | COM(2017)792 ![]() |
date | March 14, 2018 |
(2) | Pursuant to Article 42(1) of Directive (EU) 2016/97, Member States are to bring the laws, regulations and administrative provisions necessary to comply with that Directive into force by 23 February 2018. |
(3) | On 21 September 2017, the Commission adopted Delegated Regulations (EU) 2017/2358 (3) and (EU) 2017/2359 (4), supplementing Directive (EU) 2016/97. |
(4) | In its decisions not to raise any objections to Delegated Regulations (EU) 2017/2358 and (EU) 2017/2359, the European Parliament invited the Commission to adopt a legislative proposal setting 1 October 2018, rather than 23 February 2018, as the date of application of the laws, regulations and administrative provisions necessary to comply with Directive (EU) 2016/97. The European Parliament substantiated that request by highlighting the need to give insurance undertakings and insurance distributors more time to better prepare for a correct and effective implementation of Directive (EU) 2016/97 and to implement the necessary technical and organisational changes to comply with Delegated Regulations (EU) 2017/2358 and (EU) 2017/2359. |
(5) | Directive (EU) 2016/97 should therefore be amended accordingly. |
(6) | Given the very short period of time left before the national laws, regulations and administrative provisions necessary to comply with Directive (EU) 2016/97 are to be brought into force, and in order to ensure legal certainty and avoid potential market disruption, this Directive should enter into force as a matter of urgency and should apply, with retroactive effect, from 23 February 2018. |
(7) | Consequently, it is also justified to apply in this case the exception for urgent cases provided for in Article 4 of Protocol No 1 on the role of national Parliaments in the European Union, annexed to the Treaty on European Union and to the Treaty on the Functioning of the European Union, |