CHAPTER III

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) · European Union

Directive 85/611/EEC is hereby amended as follows: Article 6c shall be amended as follows: in paragraph 9, the second sentence shall be replaced by the following: ‘Every two years the Commission shall issue a report on such cases.’; in paragraph 10, the second sentence shall be replaced by the following: ‘Every two years the Commission shall issue a report on such cases.’; in Article 14(6), the second subparagraph shall be deleted; 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.’; 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.’; the title of Section X shall be replaced by the following: ‘European Securities Committee’; Article 53 shall be deleted; 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.’; 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 OJ L 191, 13.7.2001, p. 45. Decision as amended by Decision 2004/8/EC (OJ L 3, 7.1.2004, p. 33). , hereinafter “the Committee”. 2. Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC OJ L 184, 17.7.1999, p. 23.’ 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. Directive 2001/34/EC is hereby amended as follows: Article 108 shall be deleted; Article 109 shall be replaced by the following: ‘Article 109 1. For the purpose of adjusting, in the light of the requirements of the economic situation, the minimum amount of the foreseeable market capitalisation laid down in Article 43(1), the Commission shall submit to the European Securities Committee instituted by Commission Decision 2001/528/EC of 6 June 2001 OJ L 191, 13.7.2001, p. 45. Decision as amended by Decision 2004/8/EC (OJ L 3, 7.1.2004, p. 33). a draft of the measures to be taken. 2. Where reference is made to this paragraph, Articles 5 and 7 of Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission OJ L 184, 17.7.1999, p. 23.’ shall apply, having regard to 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.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-22 · Text as adopted (Official Journal); later amendments are not incorporated in this text.