Directive 2005/1/EC of the European Parliament and of the CouncilShow full title

Article 9 U.K. 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).

(2)

OJ L 184, 17.7.1999, p. 23.’