CHAPTER VIII U.K.

Section 2 U.K. [F1 Delegated acts and powers of execution]

Article 41 U.K.

1. The Commission shall decide on any technical adaptations in the following areas [F2 in accordance with the procedure referred to in Article 42(2)]:

(a) clarification of the definitions in Article 3 in order to ensure uniform application of this Directive;

(b) clarification of the definitions in Article 3 to take account of developments on financial markets;

(c) adjustment of the amounts of initial capital prescribed in Articles 5 to 9 and the amount referred to in Article 18(2) to take account of developments in the economic and monetary field;

(d) adjustment of the categories of investment firms in Article 20(2) and (3) to take account of developments on financial markets;

(e) clarification of the requirement laid down in Article 21 to ensure uniform application of this Directive;

(f) alignment of terminology on and the framing of definitions in accordance with subsequent acts on institutions and related matters;

(g) adjustment of the technical provisions in Annexes I to VII as a result of developments on financial markets, risk measurement, accounting standards or requirements which take account of Community legislation or which have regard to convergence of supervisory practices; or

(h) technical adaptations to take account of the outcome of the review referred to in Article 65(3) of Directive 2004/39/EC.

[F1 2. The measures referred to in paragraph 1 shall be adopted by means of delegated acts in accordance with Article 42a, and subject to the conditions of Articles 42b and 42c.]

Textual Amendments

F2 Deleted by Directive 2008/23/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2006/49/EC on the capital adequacy of investment firms and credit institutions, as regards the implementing powers conferred on the Commission.

Textual Amendments

F1 Substituted by Directive 2010/76/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 2006/48/EC and 2006/49/EC as regards capital requirements for the trading book and for re-securitisations, and the supervisory review of remuneration policies (Text with EEA relevance).