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Directive 2005/1/EC of the European Parliament and of the CouncilShow full title
Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees (Text with EEA relevance)
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Article 9 Directive 85/611/EEC
Directive 85/611/EEC is hereby amended as follows:
1.
Article 6c shall be amended as follows:
(a)
in paragraph 9, the second sentence shall be replaced by the following:
‘Every two years the Commission shall issue a report on such cases.’;
(b)
in paragraph 10, the second sentence shall be replaced by the following:
‘Every two years the Commission shall issue a report on such cases.’;
2.
in Article 14(6), the second subparagraph shall be deleted;
3.
in Article 21(4), the third sentence shall be replaced by the following:
‘Such information shall be the subject of exchanges of views within the European Securities Committee.’;
4.
in the third subparagraph of Article 22(4), the fourth sentence shall be replaced by the following:
‘Such communications may be the subject of exchanges of views within the European Securities Committee.’;
5.
the title of Section X shall be replaced by the following:
‘European Securities Committee’;
6.
Article 53 shall be deleted;
7.
Article 53a shall be replaced by the following:
‘Article 53a
The technical amendments to be made to this Directive in the following areas shall be adopted in accordance with the procedure referred to in Article 53b(2):
(a)
clarification of the definitions in order to ensure uniform application of this Directive throughout the Community;
(b)
alignment of terminology and the framing of definitions in accordance with subsequent acts on UCITS and related matters.’;
8.
the following Article shall be inserted:
‘Article 53b
1.The Commission shall be assisted by the European Securities Committee instituted by Commission Decision 2001/528/EC(1), hereinafter “the Committee”.
2.Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC(2) 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.
3.The Committee shall adopt its rules of procedure.’
(1)
OJ L 191, 13.7.2001, p. 45. Decision as amended by Decision 2004/8/EC (OJ L 3, 7.1.2004, p. 33).
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