prop · GF03170 · 1991-12-31 00:00:00 — (c) Arficles 13(5), 33, 34, 35 and36 shall not apply; fhe following provi sion shall be applicable: The life undertakings tobe identified separafely by be exempf from Arficles 18, 19 and20. The competent supervisoty authorify shall require such undertakings fo meetfhe requirements of these Arficles by 1 Januaty 1995. Prior fo that date fheEEA shall examine the financial situation of the undertakingsstill not meeting the requirements and make appropriate recommendations. Aslong as an insurance undertaking fails fo meet the requirements of Artides 18,19 and 20 if shall not esfablish a branch or provide services in the territoryof another Confracting Party. Undertakings desiring to extendtheir operations within fhe meaning of Article 8(2) or Article 10 may not doso unless they comply immediately wifh the rules of fhe Directive. (d) Artide 32 shall not apply; thefollowing provision shall be appli cable: Each Contracfing Party may, bymeans of agreements concluded with one or more third countries, agree to theapplication of provisions different from those provided for in Artides 27 to31 of the Directive on the condifion that ifs insured persons are given adequateand equivalent protection. The Contracfing Parties shallinform and consult each other prior to conduding such agreements. The Contracting Parties shall not apply to branches ofinsurance 567 undertakingshaving fheir head office outside the territoty of the Contracting Partiesprovisions which result in more favourable freatment fhan that accorded tobranches of insurance undertakings having fheir head office within fheterritoty of fhe Contracfing Parfies. (e) As regards relations withthird-countty insurance undertakings described in Arficle 32b (see Arficle 9 ofCouncil Direcfive 90/619/EEC) fhe following shall apply: 4Wifh a view to achieving a maximumdegree of convergencc in the application of a third-countty regime forinsurance undertakings, the Confracting Parfies shall exchange informafion asdescribed in Artides 32b(l) and 32b(5) and consulfafions shall be heldregarding matters referred to in Arficles 32b(2), 32b(3) and 32b(4), within fheframework of fhe EEA Joint Coinmitfee and according fo specific procedures tobe agreed by the Confracting Parfies. 5Authorizafions granted by thecompetent authorities of a Contracfing Party fo insurance undertakings beingdirect or indirect subsidiaries of parent undertakings governed by the laws ofa third countty shall have validity in accordance wifh the provisions of theDirecfive throughout fhe territoty of all Contracfing Parfies. 3when a third countty imposesquantitafive resfricfions on the of insurance undertakings of anEFTA State, or imposes resfrictions on such insurance undertakings that ifdoes not impose on Community insurance undertakings, authorizations granted bycompetent authorifies within the Community to insurance undertakings beingdirect or indirect subsidiaries of parent undertakings governed by the laws ofthat third country shall have validity only in the Community, except where anEFTA State decides otherwise for its own jurisdicfion; 4where the Conununity has decided thatdecisions regarding authorizations of insurance undertakings being direct or indirectsubsidiaries of parent undertakings governed by the laws of a third country,shall be limited or suspended, any authorizafion granted by a competentauthority of an to such insurance undertakings shall have validityonly in its jurisdicfion, except where another Contracfing Party decidesotherwise for its own jurisdicfion. 5the limitations or suspensionsreferred to in subparagraphs (a) and (b) may not apply to insuranceundertakings or fheir subsidiaries already authorized in the territoty of aContracting Party 1991/92:170 Bilaga15 Whenever the Community negofiafes with a thirdcountty on the basis of 32b(3) and 32b(4), in order to obtain nationaltreatment and effective märket access for its insurance undertakings, it shallendeavour to obtain equal treatment for the insurance un- dertakings of fhe EFTA States. (f) In Article 13(3), fhe words "af fhe time ofnotification of this Bilaga 15 Directive" shall be replaced by "at fhe time ofsignature of the EEA Agreement" 390 L 0619: Council Directive 90/619/EEC of 8 November1990 on fhe coordinafion of laws, regulations and administrative provisions relating to direct life , laying down provisions fo facilifafe the effecfive exer cise of freedom fo provide services and amending Directive 79/267/EEC (OJ NoL330, 29.11.1990, p.50) The provisions of the Directive shall, for the purposes ofthe Agreement, be read wifh fhe following adapfafion : Arficle 9 : seeadapfafion (e) fo Council Directive 79/267/EEC. (iv) Other issues 377 L 0092: CoundI Direcfive 77/92/EEC of 13 December1976 on mea sures fo facilifafe fhe effective exercise of freedom of and free dom to provide services in respect of fhe acfivifies of insurance agents and brokers (ex. ISIC group 630) and, in particular, fransifional measures in re spect of those acfivifies (OJ No L 26, 31.1.1977, p.l4) The provisions of the Direcfiveshall, for fhe purposes of the present Agreement, be read with fhe followingadapfations : (a) The following shall be addedto Arfide 2(2)(a) : - In Ausfria 156in Finland:Vakuufuksenvälittäjä/Försäkrlngsmäklare 161in Switzerland:Versichemngsmakler Courtier en Mediatore d'assicurazioneBroker" (b) The following shall be addedto Artide 2 (2) (b): in : Vakuutusasiamies/Försäkringsombud ■'" 55in Icdand; Prop. 1991/92:170Vattyggingaumbodsmadur Bilaga 15 59in Switzerland:Versicherungs-Generalagenf Agent general d'Agente generaled'assicurazione Versicherungsagenf Agent d'Agenfe d'assicurazioneVersicherungsinspektor d'Ispettore d'assicurazione" (c) The following shall be added fo Arficle 2 (2) (c): // BANKS AND OTHER CREDIT INSTITUTIONS (i) Coordinafion of legislation on andfreedom to provide services 373 L 0183; Council Direcfive 73/183/EEC of 28 June1973 on fhe aboli fion of resfrictions on freedom of and freedom fo provide ser vices in respect of self-employed acfivifies of banks and other financial insti tutions. (OJ No L 194, , p.l; as eorrected by OJ No L 320, 21.11.1973, p.26 and OJ No L 17, 22.1.1974, p.22) The provisions of the Directiveshall, for fhe purposes of fhe Agreement, be read wifh fhe followingadaptafions : 2Artides 1, 2, 3and 6 of fhe Direcfive shall not apply. 3In Arficles5(1) and 5(3) of fhe Direcfive, the words "in Arficle 2" shall bereplaced by "in , except category 4. 377 L 0780: First CoundI Directive 77/780/EEC of 12December 1977 on the coordinafion of the laws, regulations and administrative provisions relafing to fhe taking-up and pursuit of the business of credit institutions(OJ No L 322, 17.12.1977, p.30), as amended by: - 386 L 0524: Council Diredive 86/524/EEC of 27October 1986 amending Direcfive 77/780/EEC in respect of fhe list of permanent exdusions of certain credit institutions (OJ No L 309, 4.11.1986, - 389 L 0646: Second CoundI Directive 89/646/EECof on the coordinafion of laws, regulations and administrative provisions relafing fo fhe taking-up and pursuit of fhe business of credit institutions and amending Directive 77/780/EEC (OJ No L 386, 30.12.1989, p.l) The provisions of fhe Directive shall, for thepurposes of fhe Agreement, be read with the following adaptations: 2Artides 2(5) and 2(6), 3(3)(b) to (d),9(2), 9(3) and 10 of the Direcfive shall not apply. 3The following shall be added fo Artide2(2) : 162 In Ausfria, enterprises recognized as buildingassociations for the public benefit 163 In "Byggingarsjodir rikisins" 164 In , the 'LiechtensteinischeLandesbank' 165 In , the '' (c) implement fhe provisions of fheDirecfive by 1 Januaty 1995. 16.389 L 0646: Diredive 89/646/EEC of on thecoordinafion of laws, regulations and administrative provisions relating fo fhefaking-up and pursuit of fhe business of credit institutions and amendingDirecfive 77/780/EEC (OJ No L 386, 30.12.1989, p.l) The provisions of the Directive shall, for thepurposes of the Agreement, be read with the following adaptations: (a) As regards relations wifh third-countty creditinstitutions described in Arficles 8 and 9 of the Directive, fhe followingshall apply : 1, Wifh a view fo achieving a maximum degree ofconvergencc in the application of a third-country regime for credit institutions, fhe Confracting Parties shall exchange informafion as described in Arficles 9(1) and 9(5) and consulfafions shall be held regarding matters referred to in Arficles 9(2), 9(3) and 9(4), within fhe fra mework of and according to specific procedures fo be agreed by the Confracting Parfies. Authorizafions granted by fhe competentauthorifies of a Cont racting Party to credit institutions being direct or indirect subsi diaries of parent undertakings governed by the laws of a third countty, shall have validity in accordance with fhe provisions of this Direcfive throughout fhe territoty of all Contracfing Parfies. (a)when a third country imposes quantitafive resfricfions on the ofcredit insfifufions of an EFTA Sfate, or imposes resfricfions on such creditinsfifufions that it does not impose on Prop.1991/92:170 Bilaga 15 Communitycredit institutions, authorizafions granted by compe- Prop. 1991/92:170tent authorifies within fhe Community to credit insfifufions being Bilaga15 direct or indirect subsidiaries of parent undertakings governed by AnnexIX fhe laws of that third countty shall have validityonly in the Community, except where an decides otherwise for ifsown jurisdicfion; 2where fhe Community has decided thatdecisions regarding authorizations of credit insfifufions being direct orindirect subsidiaries of parent undertakings governed by fhe laws of a thirdcountry shall be limited or suspended, authorizafions granted by a competentauthority of an to such credit insfifufions shall have validityonly in ifs jurisdicfion, except where another Confracting Party decidesotherwise for ifs own jurisdicfion; 3fhe limitations or suspensionsreferred fo in subparagraphs (a) and (b) may not apply fo credit insfifufionsor fheir subsidiaries already authorized in fhe territoty of a ContractingParty. 3.Whenever the Community negofiafes wifh a third countty on fhe basis of Artides9(3) and 9(4), in order to obfain national treatment and effective märketaccess for ifs credit insfifufions, if shall endeavour to obfain equalfreatment for the credit institutions of the EFTA States, (b) In Arficle10(2), fhe words "when the Directive is implemented" shall be replacedby "when the EEAAgreement enfers into force", and fhe words "fhedate of the notification of this Direcfive " shall be replaced by"the date of signature of fhe EEAAgreement". (c) shallimplement fhe provisions of fhe Direcfive by 1 Januaiy 1995. During fhetransition period it shall recognize, in accordance with fhe provisions of theDirective, authorizations granted to credit insfifufions by fhe competentauthorifies of the other Confracting Parfies. Authorizafions granted to creditinstitutions by the competent Icelandic authorifies shall not have EEA-widevalidity before the full applicafion of the Directive. (ii)Pmdenfial requirements and regulations 2389 L 0299: CoundI Diredive 89/299/EECof on the own funds of credit insfifufions (OJ No L 124,, p.l6) 3389 L 0647: Council Diredive89/647/EEC of on a solvency ratio for credit institutions (OJNo L 386, 30.12.1989, p.l4) The provisions of the Direcfive shall, for thepurposes of the Agreement, be read with the following adaptations: (a) Loans fully and complefely secured by shares inFinnish residenfial housing companies, operating in accordance wifh the Finnish Hou sing Company Acf of 1991 or subsequent equivalent legislation, shall be given fhe same weighting as the one applied fo morfgages on residenfial property in accordance wifh fhe rules set out in Article 572 6(l)(c)(l)of the Direcfive. 2Arficle 11(4) shall also apply toAusfria and . 3Ausfria and before 1Januaty 1993 esfablish a sysfem for idenfification of those credit institutionsthat are unable to meet the requirement of Arficle 10(1) of fhe Direcfive. Foreach of those credit institutions, the competent authority shall take the appropriatemeasures to ensure that fhe solvency ratio is met as quickly as possible andno låter fhan 1 Januaty 1995. Until the credit institutions in quesfion reachfhe solvency ratio, fhe competent authorifies in Ausfria and will,in relation to Article 19(3) of Council Directive 89/646/EEC, regard fhefinancial situation of such credit insfifufions as inadequate. 2391 L 0031: CommissionDirecfive 91/31/EEC of adapfing fhe technical definition of"multilateral development banks" in Council Directive 89/647/EEC of18 on a solvency ratio for credit institutions (OJ No L 17,23.1.1991, p.20)(iii) Supervision and accounts 3383 L 0350: Council Directive83/350/EEC of 13 1983 on fhe supervision of credit institutionson aConsolidated basis (OJ No L 193,, p.l8) 4386 L 0635: Council Directive86/635/EEC of on the annual accounts and Consolidated accountsof banks and other financial institutions (OJ No L372, 31.12.1986, p.l) The provisions of the Directive shall, for fhepurposes of fhe Agreement, be read wifh fhe following adaptation: Ausfria, and implement fheprovisions of fhe Direcfive by 1 Januaty 1995, and andSwitzerland by 1 Januaty 1996. During fhe transition periods, there shall be mutualrecognition of fhe annual accounts published by the credit institutions of theContracting Parties relafive fo branches. 389L 0117: Council Directive 89/117/EEC of 13 Februaty 1989 on fhe obligations of branches established in a of credit institutions and financial institutions having fheir head offices outside that regarding the publicafion of annual accounting documents (OJ No L 44, , p.40) Theprovisions of fhe Direcfive shall, for the purposes of the Agreement, be readwifh the following adapfafion; Arficle 3 shall not apply. 391L 0308 : CoundI Directive 91/308/EEC of 10 1991 on preven tion of the use of fhe financial system for the purpose of money launde- ring. (OJ No L 166, 28.6.1991, p.77) Modalities for association of EFTA States inaccordance wifh Article 101 of the Agreement; An expert from each EFTA Sfate may parficipate infhe fasks of laundering which are described inArricle 13(l)(a) 1991/92:170 Bilaga15 and 13(l)(b). Wifh regard to the involvemenf of expertsfrom fhe EFTA States in fhe fasks described in Article 13(l)(c) and 13(l)(d),fhe relevant provisions of the Agreement shall apply. The EC Commission shall, in duetime, inform fhe parficipants about fhe date of fhe meefing of fhe Committeeand transmit fhe relevant documenfafion. 1991/92:170 Bilaga 15 /// STOCK EXCHANGE AND SECURITIES (i) Stock exchangelisting and transactions 379 L 0279: Council Directive79/279/EEC of 5 1979 coordinafing the condifions for admission of securify to official stock exchange listing (OJ No L 66, , p.21), as amended by; - 388 L 0627: Council Directive88/627/EEC of on the informafion to be published when a major holding in a listed company is acquired or disposed of (OJ No L 348,17.12.1988, p.62) The provisions of fhe Direcfiveshall, for fhe purposes of fhe Agreement, be read wifh fhe followingadapfafion: and Swifzeriand shall implementfhe provisions of fhe Direcfive by 1 Januaty 1995. During fhe transitionperiod, these countries shall provide for exchange of informafion wifh fhecompetent authorifies of fhe other Confracting Parties relafive to fhe issuesregulated by fhe Directive. 380 L 0390: Council Direcfive80/390/EEC of 17 1980 coordina fing the requirements for the drawing up, scrufiny and disfribufion of the listing particulars to be published for the admission of securities fo official stock exchange listing (OJ No L 100, , p.l), as amended by: -387 L 0345:CoundI Direcfive 87/345/EEC of 22 1987, (OJ No L185, , p.81) -390 L0211:Council Directive 90/211/EEC of amending Direcfive80/390/EEC in respect of mutual recognition of pu-blic-offer prospeetuses asstock exchange listing particulars (OJ No L112, , p.24) The provisions of fhe Direcfiveshall, for fhe purposes of the Agreement, be read wifh the followingadaptations: 4Article 25a offhe Direcfive, introduced by Directive 87/345/EEC, shall not apply. 5Iceland andSwitzerland shall implement the provisions of fhe Directive by 1 Januaty 1995.During the transition period, these counfries shall provide for exchange ofinformation wifh fhe competent authorifies of fhe other Contracfing Parfiesrelafive to the issues regulated by fhe Direcfive. 382 L 0121: Council Direcfive 82/121/EEC of 15Februaty 1982 on infor mation to be published on a regular basis by companies the shares of which have been admitted to official stock exchange listing (OJ No L 48,20.2.1982, p.26) The provisions of fhe Direcfiveshall, for the purposes of the Agreement, be read wifh the following adapfafion: and implement fhe provisions of the Directive by 1Januaty 1995. During the transition period, these counfries shall provide forexchange of informafion with fhe competent authorities of fhe other ConfractingParfies relafive fo the issues regulated by the Directive. 388 L 0627: Council Directive 88/627/EEC of 12December 1988 on fhe informafion fo be published when a major holding in a listed company is ac quired or disposed of (OJ No L 348, 17.12.1988, p.62) The provisions of the Direcfiveshall, for the purposes of fhe Agreement, be read with fhe following adaptation; , Swifzeriand andLiechtenstein shall implement the provisions of fhe Direcfive by 1 January1995. During fhe transition period, these countries shall provide for exchangeof informafion wifh fhe competent authorifies of fhe other Contracfing Partiesrelafive fo fhe issues regulated by the Direcfive. 389 L 0298:Council Directive 89/298/EEC of 17 April1989 coordinafing fhe requirements for fhe drawing-up, scrufiny and distribution of fhe pro- spectus to be published when fransferable securities are offered to the public (OJ No L 124, , p.8) The provisions of fhe Directiveshall, for fhe purposes of fhe Agreement, be read with the followingadaptafions: 2The provisionsof Arficle 24 of fhe Direcfive shall not apply. 3Iceland,and implement the provisions of fhe Directiveby 1 Januaty 1995. During fhe transition period, these counfries shall providefor exchange of informafion wifh fhe competent authorifies of the otherConfracting Parfies relafive to fhe issues regulated by fhe Directive. 389 L 0592:Council Direcfive 89/592/EEC of 13 November1989 coordi nafing regulations on insider dealing (OJ No L 334, 18.11.1989, p.30) The provisions of fhe Direcfiveshall, for fhe purposes of the Agreement, be read wifh the followingadaptafions; 3Austria,, Switzeriand and implement the provisions of theDirective by 1 January 1995. During fhe transition period, these counfriesshall provide for exchange of information with the competent authorities of theother Contracting Parties relafive fo fhe issues regulated by the Direcfive. 4Arficle 11shall not apply. Prop.1991/92:170 Bilaga 15 (ii) Undertakings for Collecfive Investmenf inTransferable Securities (UCITS) 385 L 0611: Council Direcfive 85/611/EEC of 20December 1985 on fhe coordinafion of laws, regulations and administrativeprovisions relating to undertakings for collecfive investmenf in transferablesecurities (UCITS) (OJ No L 375, 31.12.1985, p.3), as amended by: - 388 L 0220: CouncilDirecfive 88/220/EEC of 22 1988 amending, as far as concerns fheinvestmenf policy of certain UCITS, Direcfive 85/611/EEC (OJNo L 100,19.4.1988. p.31) The provisions of fhe Directive shall, for fhe purposes of theAgreement, be read with fhe following adaptation: InArficle 57(2), the words "on fhe dafe of implementation of the Direcfive"shall be replaced by "on fhe dafe of enfty into force of the EEAAgreement". 1991/92:170Bilaga 15 ACTSOF WHICH THE CONTRACTING PARTIES SHALL TAKE NOTE TheContracting Parties take note of the contents of the following acts: 2374 X 0165:Commission Recommendation 74/165/EEC of 6 Februaty 1974 fo fhe Member Statesconceming fhe applicafion of the Council Directive of . (OJ No L87, 30.3.1974, p.l2) 3381X 0076:Commission Recommendation 81/76/EEC of 8 Januaty 1981 on fhe accelerafedseffiement of claims under insurance against civil liability in respect of theuse of motor vehicles (OJ No L 57, , p.27) 4385 X 0612:Council Recommendation 85/612/EEC of 1985 concemingthe second subparagraph of Arficle 25(1) of Council Direc five 85/611/EEC (OJ No L375, 31.12.1985, p.l9) 387X 0062: Commission Recommendation 87/62/EEC of 22December 1986 onmoniforing and controlling large exposures of credit institutions (OJ No L 33, , p.lO) 2387 X 0063:Commission Recommendation 87/63/EEC of conceming theintroduction of deposif-guaranfee schemes in the Community (OJ No L33,, p.l6) 3390 X 0109:Commission Recommendation 90/109/EEC of 14 Februaty 1990 on fhe transparency ofbanking condifions relafing to cross-border financial transactions in fhe EEC(OJ No L 67, , p.39) List provided for in Article 36(2) INTRODUCTION Whenthe acts referred to in this confain notions or refer fo procedureswhich are specific fo fhe Community legal order, such as - the addressees of the Community acts; - references fo territories or languages of the EC; - references fo rights and obligations of EC MemberStates, their public enfifies, undertakings or individuals in relation to eachother; and - references fo informafion and notificationprocedures; Protocol1 on horizontal adaptations shall apply, unless otherwise provided for in thisAnnex. Prop.1991/92:170 Bilaga 15 1.389 L 0552 Council Direcfive 89/552/EEC of 3 October 1989 on fhe coordinafionof certain provisions laid down by law, regulafion or administrative action inMember States conceming fhe pursuit of felevision broadcasting acfivifies. (OJNo L 298,17.10.1989, p.23). The provisions of the Directive shall, for fhepurposes of fhe Agreement, be read wifh fhe following adapfations : (a) With regard to EFTA States, the works referredfo in Article 6(l)(c) of fhe Direcfive are also works made. as described in Arficle 6(3), by and wifh producers esfablished in European third counfries with which the concerned has agreements to this effect. If a Confracting Party infends fo conclude anagreement as mentioned in Arficle 6(3), if shall inform the EEA JointCommittee thereof. Consulfafions conceming the contents of such agreements maytake place af fhe request of any Confracting Party. (b) Thefollowing shall be added to Article 15 of the Direcfive : The EFTA States shall be free to compel cablecompanies operating on fheir territories to seramble or otherwise obscure spötadver-fisements for alcoholic beverages. This exception shall not have theeffect of resfricting the retransmission of parts of television programs otherthan advertising spöts for alcoholic beverages. The Contracting Parties willjointly review this excepfion in 1995. 37 1991/92. List provided for in Article 36(2) INTRODUCTION When fhe acts referred fo in this confain notions orrefer fo procedures which art: specific fo the Community legal order, such as -the addresseesof the Communify acts; -references foterritories or languages of the EC; -references forights and obligations of EC Member States, their public entities, undertakingsor individuals in relation fo each other; and -references foinformafion and notification procedures; Protocol 1 on horizontal adaptations shall apply, unlessotherwise provided for in this . 1991/92:170 Bilaga 15 6387 L 0372Council Directive 87/372/EEC of 25 1987 on the fre-quency bands to bereserved for fhe coordinated introduction of public pan-European cellulärdigital land-based mobile Communications in fhe European Community (OJ No L196, p.85) 7390 L 0387Council Direcfive 90/387/EEC of 28 1990 on fhe of theinternal märket for telecommunicafions services through fhe implementation ofopen network provision (OJ No L 192, 24.7.1990, p.l)