In the third sentence of Article 7(9) of Directive 93/6/EEC, the words ‘and to the Banking Advisory Committee’ shall be deleted.
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)Text with EEA relevance
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)Text with EEA relevance
CHAPTER I AMENDMENTS TO DIRECTIVES 93/6/EEC, 94/19/EC, AND 2000/12/EC ON THE BANKING SECTOR
Article 1 Directive 93/6/EEC
Article 2 Directive 94/19/EC
In the third subparagraph of Article 3(1) of Directive 94/19/EC, the words ‘Banking Advisory Committee’ shall be replaced by the words ‘European Banking Committee’.
CHAPTER II AMENDMENTS TO DIRECTIVES 73/239/EEC, 91/675/EEC, 92/49/EEC, 98/78/EC AND 2002/83/EC ON THE INSURANCE AND OCCUPATIONAL PENSIONS SECTORS
Article 4 Directive 73/239/EEC
Directive 73/239/EEC is hereby amended as follows:
1)
Article 29a shall be replaced by the following:
The competent authorities of the Member States shall inform the Commission and the competent authorities of the other Member States:
of any authorisation of a direct or indirect subsidiary, one or more of whose parent undertakings are governed by the law of a third country;
whenever such a parent undertaking acquires a holding in a Community insurance undertaking which would turn the latter into its subsidiary.
2.When the authorisation referred to in paragraph 1(a) is granted to the direct or indirect subsidiary of one or more parent undertakings governed by the law of a third country, the structure of the group shall be specified in the notification which the competent authorities shall address to the Commission.’;
2)
in Article 29b(4), the second subparagraph shall be replaced by the following:
‘In the circumstances described in the first subparagraph, it may also be decided at any time, and in addition to initiating negotiations, in accordance with the procedure referred to in Article 5 of Decision 1999/468/EC(*) and in compliance with Article 7(3) and Article 8 thereof that the competent authorities of the Member States must limit or suspend their decisions regarding the following:
requests for authorisation, whether pending at the moment of the decision or submitted thereafter;
the acquisition of holdings by direct or indirect parent undertakings governed by the law of the third country in question.