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Directive 2008/10/EC of the European Parliament and of the Council (repealed)Show full title

Directive 2008/10/EC of the European Parliament and of the Council of 11 March 2008 amending Directive 2004/39/EC on markets in financial instruments, as regards the implementing powers conferred on the Commission (repealed)

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Article 1Amendments

Directive 2004/39/EC is hereby amended as follows:

1.

Article 2(3) shall be amended as follows:

(a)

the words ‘acting in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following sentence shall be added:

‘Those measures, 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 64(2).’;

2.

Article 4 shall be amended as follows:

(a)

in point 2 of paragraph 1, the words ‘acting in accordance with the procedure referred to in Article 64(2)’ shall be deleted;

(b)

paragraph 2 shall be amended as follows:

(i)

the terms ‘acting in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(ii)

the following subparagraph shall be added:

The measures referred to in this Article, 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 64(2).;

3.

Article 13(10) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following sentence shall be added:

‘Those measures, 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 64(2).’;

4.

in the second and third subparagraphs of Article 15(3), the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be replaced by ‘in accordance with the regulatory procedure referred to in Article 64(3),’;

5.

Article 18(3) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

6.

Article 19(10) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

7.

Article 21(6) shall be amended as follows:

(a)

the terms ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

8.

Article 22(3) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

9.

Article 24(5) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

10.

Article 25(7) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following sentence shall be added:

‘Those measures, 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 64(2).’;

11.

Article 27(7) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

12.

Article 28(3) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

13.

Article 29(3) shall be amended as follows:

(a)

in the first subparagraph, the words ‘in accordance with the procedure referred to in Article 64(2)’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

14.

Article 30(3) shall be amended as follows:

(a)

in the first subparagraph the words ‘in accordance with the procedure referred to in Article 64(2)’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

15.

Article 40(6) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2)’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

16.

Article 44(3) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2)’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

17.

Article 45(3) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2)’ shall be deleted;

(b)

the following subparagraph shall be added:

The measures referred to in the first subparagraph, 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 64(2).;

18.

Article 56(5) shall be amended as follows:

(a)

the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be deleted;

(b)

the following sentence shall be added:

‘Those measures, 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 64(2).’;

19.

in Article 58(4), the words ‘in accordance with the procedure referred to in Article 64(2),’ shall be replaced by ‘, in accordance with the regulatory procedure referred to in Article 64(3),’;

20.

Article 64 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)

paragraph 3 shall be replaced by the following:

3.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)

the following paragraph shall be added:

4.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. The 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..

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