### the support referred to in paragraph 1 shall only be granted to owners of union fishing vessels whose vessels are which have carried a fishing activity for at least 60 days at sea during the two years preceding the date of submission of the application . ### the support referred to in paragraph 1 shall be granted to owners of union fishing vessels whose vessels are which have carried a fishing activity for at least 60 days at sea during the two years preceding the date of submission of the application , and to fishermen ' s organisations .


### adding value to aquaculture products , in particular by allowing the aquaculture enterprise to carry out the processing , marketing and direct sale of its own aquaculture production ; ### adding value to aquaculture products , in particular by allowing the aquaculture sector to carry out the processing , marketing and direct sale of its own aquaculture production ;


### diversification of the income of aquaculture enterprises through the development of complementary activities outside aquaculture . ### diversification of the income of the aquaculture sector through the development of complementary activities outside aquaculture .


### support may only be granted where the suspension of harvesting due to contamination of molluscs is the result of the proliferation of toxin - producing plankton or the presence of plankton containing biotoxins , and when : ### support may only be granted where the suspension of harvesting due to contamination of molluscs is the result of the proliferation of toxin - producing plankton or the presence of plankton containing biotoxins , or the proliferation of coliforms and when :


### for the processing of organic aquaculture products as regulated in article 6 and 7 of council regulation no 834 / 2007 . ### for the processing of sustainable aquaculture products .


### supporting sustainable economic growth , employment , innovation and new technologies within emerging and prospective maritime sectors in coastal regions , in complementarity with established sectoral and national activities . ### supporting sustainable economic growth , employment , innovation and new technologies within emerging and prospective maritime sectors in coastal regions , in complementarity with established sectoral and national activities , such as : the development of green technologies , marine renewable energy sources and green shipping ;


### promoting the protection of the marine environment , in particular its biodiversity and marine protected areas such as natura 2000 sites , and the sustainable use of marine and coastal resources and to further define the boundaries of the sustainability of human activities that have an impact on the marine environment , in particular in the framework of the marine strategy framework directive . ### promoting the protection of the marine environment , in particular its biodiversity and marine protected areas such as natura 2000 sites , and the sustainable use of marine and coastal resources and to further define the boundaries of the sustainability of human activities that have an impact on the marine environment , in particular in the framework of the marine strategy framework directive . in order to reach this specific objective , the emff may support in particular : action to prevent and reduce discharges into the marine environment , including waste at sea , with a view to reducing pollution ; action to mitigate the effects of climate change on the marine , coastal and island environment and to facilitate adaptation to these changes , with particular attention in this respect to the most vulnerable areas ;


### in addition to the general rules of article 72 of [ regulation no [ . . . ] laying down common provisions ] , and following the commission decision approving the operational programme , an initial pre - financing amount for the whole programming period shall be paid by the commission . this shall represent 4% of the contribution from the union budget to the operational programme concerned . it may be split into two instalments depending on budget availability . ### in addition to the general rules of article 72 of [ regulation no [ . . . ] laying down common provisions ] , and following the commission decision approving the operational programme , an initial pre - financing amount for the whole programming period shall be paid by the commission . this shall represent 7% of the contribution from the union budget to the operational programme concerned . it may be split into two instalments depending on budget availability .


### member states shall ensure that when carrying out a statutory audit , the statutory auditor and / or the audit firm and any holder of voting rights in the audit firm is independent of the audited entity and is not involved in the decision - taking of the audited entity . ### member states shall ensure that when carrying out a statutory audit , the statutory auditor and / or the audit firm takes all necessary steps to ensure that the independence is not compromised by financial , personal , business , employment or other relationships involving the statutory auditor , the audit firm , its affiliate firms and network , and any natural person in a position to influence the outcome of the statutory audit .


### quality assurance reviews shall be appropriate and proportionate in view of the scale and dimension of the activity of the reviewed audit firm or statutory auditor . ### quality assurance reviews shall be appropriate and proportionate in view of the scale and complexity of the reviewed audit firm or statutory auditor and the entities audited .


### the competent authority referred to in article 32 shall make available to interested parties , upon their request , the report referred to in point of the first subparagraph . the competent authority shall make sure that the report disclosed does not undermine the commercial interests of the audited entity under review , including its industrial and intellectual property . ### member states may require that the competent authority referred to in article 32 shall make available to interested parties , upon their request , the report referred to in point of the first subparagraph . the competent authority shall make sure that the report disclosed does not undermine the commercial interests of the audited entity under review , including its industrial and intellectual property .


### member states may allow the competent authority referred to in article 32 to delegate tasks to other authorities or bodies designated by law only as regards the approval and registration of statutory auditors and audit firms . any execution of tasks by other authorities or bodies shall be expressly delegated by the competent authority . the delegation shall specify the delegated tasks and the conditions under which they are to be carried out . the authorities or bodies shall be organized in such a manner that there are no conflicts of interest . the ultimate responsibility for supervising compliance with this directive and the implementing measures adopted pursuant thereto shall lie with the delegating competent authority . ### member states may allow the competent authority referred to in article 32 to delegate certain tasks to other authorities or bodies designated by law . any execution of tasks by other authorities or bodies shall be expressly delegated by the competent authority . the delegation shall specify the delegated tasks and the conditions under which they are to be carried out . the authorities or bodies shall be organized in such a manner that there are no conflicts of interest . the ultimate responsibility for supervising compliance with this directive and the implementing measures adopted pursuant thereto shall lie with the delegating competent authority .


### each member state shall have the possibility to pre - select up to a maximum of two sites per annum in accordance with the calendar in the annex . no selection procedure shall take place in the years reserved for the monitoring procedure . ### each member state shall have the possibility to pre - select a minimum of two sites every two years in accordance with the calendar in the annex . no selection procedure shall take place in the years reserved for the monitoring procedure .


### accelerating the refurbishment of existing and deployment of new energy infrastructure is vital to achieve the union ' s energy and climate policy objectives , consisting in completing the internal market in energy , guaranteeing security of supply , notably for gas and oil , reducing greenhouse gas emissions by 20%19 , increasing the share of renewable energy in the final energy consumption to 20%20 and achieving a 20% increase in energy efficiency by 2020 . at the same time , the union has to prepare its infrastructure for further decarbonisation of its energy system in the longer term towards 2050 . ### accelerating the refurbishment of existing and deployment of new energy infrastructure is vital to achieve the union ' s energy and climate policy objectives , consisting in completing the internal market in energy , guaranteeing security of supply , notably for gas and oil , reducing greenhouse gas emissions by 20% [ 19 ] , increasing the share of renewable energy in the final energy consumption to 20% [ 20 ] and achieving a 20% increase in energy efficiency by 2020 . at the same time , the union has to prepare its infrastructure for practically full decarbonisation of its energy system in the longer term towards 2050 and has an objective to halt and reverse the loss of biodiversity by 2020 .


### despite its legal existence as defined in directives 2009 / 72 / ec of the european parliament and of the council of 13 july 2009 concerning common rules for the internal market in electricity21 and 2009 / 73 / ec of the european parliament and of the council of 13 july 2009 concerning common rules for the internal market in natural gas22 , the internal market in energy remains fragmented due to insufficient interconnections between national energy networks . union - wide integrated networks however are vital for ensuring a competitive and well functioning integrated market for promoting growth , employment and sustainable development . ### despite its legal existence as defined in directives 2009 / 72 / ec of the european parliament and of the council of 13 july 2009 concerning common rules for the internal market in electricity and 2009 / 73 / ec of the european parliament and of the council of 13 july 2009 concerning common rules for the internal market in natural gas , the internal market in energy remains fragmented due to insufficient interconnections between national energy networks . union - wide integrated networks and deployment of smart grid infrastructure allowing for increased energy efficiency and integration of distributed renewable energy sources however are vital for ensuring a competitive and well functioning integrated market for promoting resource efficient growth , employment and sustainable development .


### the union ' s energy infrastructure should be upgraded in order to prevent and increase its resilience to natural or man - made disasters , adverse effects of climate change and threats to its security , notably concerning european critical infrastructures as set out in council directive 2008 / 114 / ec of 8 december 2008 on the identification and designation of european critical infrastructures and the assessment of the need to improve their protection23 . ### the union ' s energy infrastructure should be upgraded in order to prevent and increase its resilience to natural or man - made disasters , adverse effects of climate change and threats to its security by a decentralised architecture tending to energy self - sufficiency of local territories , notably concerning european critical infrastructures as set out in council directive 2008 / 114 / ec of 8 december 2008 on the identification and designation of european critical infrastructures and the assessment of the need to improve their protection23 .


### the identification of projects of common interest should be based on common , transparent and objective criteria in view of their contribution to the energy policy objectives . for electricity and gas , proposed projects should be part of the latest available ten - year network development plan . this plan should notably take account of the conclusions of the 4 february european council with regard to the need to integrate peripheral energy markets . ### the identification of projects of common interest should be based on common , transparent and objective criteria in view of their contribution to the energy policy objectives . for electricity and gas , proposed projects should be part of the latest available ten - year network development plan . this plan should notably take account of the conclusions of the 4 february european council with regard to the need to integrate peripheral energy markets and establish the roll out of smart grid infrastructure .


### concerning electricity transmission and storage projects falling under the categories set out in points 1 to of annex ii , the project shall contribute significantly to at least one of the following specific criteria : ### concerning electricity transmission and storage projects falling under the categories set out in points 1 to of annex ii , the project shall contribute significantly to sustainable development and at least one of the following specific criteria :


### concerning gas projects falling under the categories set out in point 2 of annex ii , the project shall contribute significantly to at least one of the following specific criteria : ### concerning gas projects falling under the categories set out in point 2 of annex ii , the project shall contribute significantly to sustainable development and at least one of the following specific criteria :


### – market integration , competition and system flexibility ; ### – market integration , inter alia through lifting the isolation of regions in the european union ; competition and system flexibility ;


### – market integration , interoperability and system flexibility ; ### – market integration , inter alia through lifting the isolation of regions in the european union ; interoperability and system flexibility ;


### – competition , inter alia through diversification of supply sources , supplying counterparts and routes ; ### – competition , inter alia through diversification of supply sources , supplying routes and counterparts ;


### when a project of common interest encounters significant implementation difficulties , the commission may designate a european coordinator for a period of up to one year renewable twice . ### when a project of common interest encounters significant implementation difficulties , the commission may designate a european coordinator for a period of up to one year renewable twice , in agreement with the member states concerned .


### the european coordinator shall be chosen on the basis of his or her experience with regard to the specific tasks assigned to him or her for the concerned project . ### the european coordinator shall be chosen on the basis of his or her experience with regard to the specific tasks assigned to him or her for the concerned project , in agreement with the member states concerned .


### the commission shall , within three months of the entry into force of this regulation , issue guidance to support member states in defining adequate measures and to ensure the coherent application of environmental assessment procedures required under eu legislation for projects of common interest . ### the commission shall , within three months of the entry into force of this regulation , issue guidance to support member states in defining and implementing adequate measures and to ensure the coherent application of environmental assessment procedures required under eu legislation for projects of common interest , and shall monitor its application .


### coordinated scheme : the comprehensive decision may encompass multiple individual legally binding decisions issued by the competent authority and other authorities concerned . the competent authority shall establish , on a case - by - case basis , a reasonable time limit within which the individual decisions must be issued . the competent authority may take an individual decision on behalf of another national authority concerned , if the decision by that authority is not delivered within the time limit and if the delay cannot be adequately justified . the competent authority may overrule an individual decision of another national authority , if it considers that the decision is not sufficiently substantiated with regard to the underlying evidence presented by the authority concerned . the competent authority shall ensure that the relevant requirements under international and union legislation are respected and must duly justify its decision . ### coordinated scheme : the comprehensive decision may encompass multiple individual legally binding decisions issued by the competent authority and other authorities concerned . the competent authority shall establish , on a case - by - case basis , a reasonable time limit within which the individual decisions must be issued . the competent authority may take an individual decision on behalf of another national authority concerned , if the decision by that authority is not delivered within the time limit and if the delay cannot be adequately justified . the competent authority may overrule an individual decision of another national authority , if subsequent re - analysis reveals the decision is not sufficiently substantiated with regard to the underlying evidence presented by the authority concerned . the competent authority shall ensure that the relevant requirements under international and union legislation are respected and must duly justify its decision and make the decision and the justification , including the relevant evidence , available to the public .


### for projects likely to have significant adverse cross - border impacts in one or more neighbouring member states , where article 7 of directive 85 / 337 / eec and the espoo convention are applicable , the relevant information shall be made available to the competent authority of the neighbouring member state . the competent authority of the neighbouring member state shall indicate whether it wishes to participate in the relevant public consultation procedures . ### for projects likely to have significant adverse cross - border impacts in one or more neighbouring member states , where article 7 of directive 2001 / 42 / ec , article 7 of directive 85 / 337 / eec , or the espoo convention are applicable , the relevant information shall be made available to the competent authority of the neighbouring member state . the competent authority of the neighbouring member state shall indicate whether it wishes to participate in the relevant public consultation procedures .


### the project specific cost - benefit analysis pursuant to paragraph 4 of provides evidence concerning the existence of significant positive externalities , such as security of supply , solidarity or innovation ; and ### the project specific cost - benefit analysis pursuant to paragraph 4 of provides evidence concerning the existence of significant positive externalities , such as environmental and social benefits , security of supply , solidarity or innovation ; and


### north - south electricity interconnections in central eastern and south eastern europe : interconnections and internal lines in north - south and east - west directions to complete the internal market and integrate generation from renewable energy sources . ### north - south electricity interconnections in central eastern and south eastern europe : interconnections and internal lines in north - south and east - west directions to complete the internal market and integrate generation from renewable energy sources ; interconnection of isolated island electrical systems to the mainland in order to bring the benefits of the integrated electricity market , increase the renewable energy sources penetration and make possible transferring of res energy to the mainland .


### electricity highways : first electricity highways by 2020 , in view of building an electricity highways system across the union ; ### electricity highways : first electricity highways by 2020 , in view of building an electricity highways system across the union , especially connecting regions which have high renewable energy production capacity and storage potential ; ;


### for electricity projects falling under the categories set out in point 1 of annex ii , each group shall be composed of representatives of the member states , national regulatory authorities , transmission system operators following their obligation to cooperate on a regional level in accordance with article 6 of directive 2009 / 72 / ec and article 12 of regulation no 714 / 2009 and project promoters concerned by each of the relevant priorities designated in annex i , as well as the commission , the agency and the entso for electricity . ### for electricity projects falling under the categories set out in point 1 of annex ii , each group shall be composed of representatives of the member states , national regulatory authorities , transmission system operators following their obligation to cooperate on a regional level in accordance with article 6 of directive 2009 / 72 / ec and article 12 of regulation no 714 / 2009 , project promoters and other relevant stakeholders , including producers , distribution system operators , suppliers and environmental organisations and organisations representing consumers , concerned by each of the relevant priorities designated in annex i , as well as the commission , the agency and the entso for electricity .


### for electricity projects falling under the categories set out in point 1 of annex ii , each group shall be composed of representatives of the member states , national regulatory authorities , transmission system operators following their obligation to cooperate on a regional level in accordance with article 6 of directive 2009 / 72 / ec and article 12 of regulation no 714 / 2009 and project promoters concerned by each of the relevant priorities designated in annex i , as well as the commission , the agency and the entso for electricity . ### for electricity projects falling under the categories set out in point 1 of annex ii , each group shall be composed of representatives of the competent authorities of&#160 ; the member states , national regulatory authorities , transmission system operators following their obligation to cooperate on a regional level in accordance with article 6 of directive 2009 / 72 / ec and article 12 of regulation no 714 / 2009 and project promoters concerned by each of the relevant priorities designated in annex i , as well as the commission , the agency and the entso for electricity .


### for gas projects falling under the categories set out in point 2 of annex ii , each group shall be composed of representatives of the member states , national regulatory authorities , transmission system operators following their obligation to cooperate on a regional level in accordance with article 7 of directive 2009 / 73 / ec and article 12 of regulation no 715 / 2009 and project promoters concerned by each of the relevant priorities designated in annex 1 , as well as the commission , the agency and the entso for gas . ### for gas projects falling under the categories set out in point 2 of annex ii , each group shall be composed of representatives of the competent authorities of the member states , national regulatory authorities , transmission system operators following their obligation to cooperate on a regional level in accordance with article 7 of directive 2009 / 73 / ec and article 12 of regulation no 715 / 2009 and project promoters concerned by each of the relevant priorities designated in annex 1 , as well as the commission , the agency and the entso for gas .


### for oil and carbon dioxide transport projects falling under the categories referred to in annex ii and , each group shall be composed of the representatives of the member states , project promoters concerned by each of the relevant priorities designated in annex 1 and the commission . ### for oil and carbon dioxide transport projects falling under the categories referred to in annex ii and , each group shall be composed of the representatives of the competent authorities of the member states , project promoters concerned by each of the relevant priorities designated in annex 1 and the commission .


### each group shall consult the organisations representing relevant stakeholders , including producers , distribution system operators , suppliers , consumers , and , for the tasks set out in paragraph 2 of , organisations for environmental protection . the group may organise hearings or consultations , where relevant for the accomplishments of it tasks . ### each group shall consult the organisations representing relevant stakeholders , including producers , distribution system operators , suppliers , consumers , and organisations for environmental protection . the group shall organise hearings or consultations , where relevant for the accomplishments of it tasks . the group shall inform the public regularly and comprehensively about the state and result of its deliberations and organise a hearing or consultation before submission of its proposed list as referred to in article 3 .


### for electricity storage , the project provides storage capacity allowing a net annual electricity generation of at least 500 gigawatt - hours ; ### for electricity storage , the project provides storage capacity allowing a net annual electricity generation of at least 250mw capacity and 250 gigawatt - hours / year ;


### in electricity : scenarios for demand , generation capacities by fuel type and their geographical location , fuel prices , carbon dioxide prices , the composition of the transmission and , if relevant , the distribution network , and its evolution , taking into account all new significant generation , storage and transmission projects for which a final investment decision has been taken and that are due to be commissioned by the end of year n + 5 ; ### in electricity : scenarios for demand , generation capacities by fuel type and their geographical location , fuel prices , carbon dioxide prices , the composition of the transmission and , if relevant , the distribution network , and its evolution , taking into account all new significant generation , storage potential and storage and transmission projects for which a final investment decision has been taken and that are due to be commissioned by the end of year n + 5 ;


### the cost - benefit analysis shall at least take into account the following costs : capital expenditure , operational and maintenance expenditure over the technical lifecycle of the project and decommissioning and waste management costs , where relevant . the methodology shall give guidance on discount rates to be used for the calculations . ### the cost - benefit analysis shall at least take into account the following costs : capital expenditure , operational and maintenance expenditure over the technical lifecycle of the project and decommissioning and waste management costs , as well as other environmental externalities . the methodology shall give guidance on discount rates to be used for the calculations .


### it is appropriate to provide for statements of support to be collected in paper form as well as online . online collection systems should have adequate security features in place in order to ensure , inter alia , that the person can be identified and that the data are securely stored . for this purpose , the commission should be required to set out detailed technical specifications for online collection systems . ### it is appropriate to provide for statements of support to be collected in paper form as well as online . online collection systems should have adequate security features in place in order to ensure , inter alia , that the person can be identified and that the data are securely collected and stored . for this purpose , the commission should be required to set out detailed technical specifications for online collection systems , and , in doing so , should involve the european data protection supervisor and the relevant authorities of member states . the commission should also be responsible for the operation of the online collection system .


### directive 95 / 46 / ec of the european parliament and of the council of 24 october 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data is fully applicable to the processing of personal data carried out in application of this regulation . in this respect , it is appropriate to clarify that the organiser of a citizens ' initiative and the competent authorities of the member states are the data controllers within the meaning of directive 95 / 46 / ec and to specify the maximum period within which the personal data collected for the purposes of a citizens ' initiative may be retained . in their capacity as data controllers , organisers need to take all the appropriate measures to comply with the obligations imposed by directive 95 / 46 / ec , in particular those relating to the lawfulness of the processing , the security of the processing activities and the provision of information and the rights of data subject to access to his / her personal data as well as the correction and erasure of his / her personal data . ### directive 95 / 46 / ec of the european parliament and of the council of 24 october 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data is fully applicable to the processing of personal data carried out in application of this regulation . in this respect , it is appropriate to clarify that in the event of paper - based collection the organiser of a citizens ' initiative and the competent authorities of the member states are the data controllers within the meaning of directive 95 / 46 / ec and to specify the maximum period within which the personal data collected for the purposes of a citizens ' initiative may be retained . in the event of online collection , in its capacity as data controller , the commission needs to take all the appropriate measures to comply with the obligations imposed by directive 95 / 46 / ec , in particular those relating to the lawfulness of the processing , the security of the processing activities and the provision of information and the rights of data subject to access to his / her personal data as well as the correction and erasure of his / her personal data .


### where the organiser is a natural person , that person shall be a citizen of the union and be of the age to be entitled to vote in the european elections . ### where the organiser is a natural person , that person shall be a citizen of the union and be at least 16 years old .


### examine the citizens ' initiative and , within 4 months , set out in a communication its conclusions on the initiative , the action it intends to take , if any , and its reasons for doing so . ### examine the citizens ' initiative and , within 4 months , set out in a communication its conclusions on the initiative , as well as the appropriate proposal on the matter where citizens have indicated that a legal act is required . should the commission decide to take some alternative action , or not to take any action , it shall state its reasons for its decision in a communication .


### the communication referred to in paragraph 1 shall be notified to the organiser of the citizens ' initiative as well as to the european parliament and the council and shall be made public . ### the list of citizens ' initiatives tabled , as well as the communication referred to in paragraph 1 , shall be notified to the organiser of the citizens ' initiative as well as to the european parliament and the council and shall be made public .


### form for the submission of statements of support to the member states’ competent authorities full name , postal address and e - mail address of the organiser or , in the case of a legal entity or organisation , its legal representative* : title of citizens ' initiative* : commission registration number* : date of registration* : date of request for a decision on admissibility* : number of signatories coming from [ name of ms ] * : 7 . annexes* : certifying that the conformity of the online collection system with regulation xxxx / xxxx ) 8 . date and signature of the organiser* : * : mandatory fields ### form for the submission of statements of support to the member states’ competent authorities full name , postal address and e - mail address of the organiser or , in the case of a legal entity or organisation , its legal representative* : title of citizens ' initiative* : commission registration number* : date of registration* : date of request for a decision on admissibility* : number of signatories coming from [ name of ms ] * : 7 . annexes* : 8 . date and signature of the organiser* : * : mandatory fields


### standards are important tools for undertakings and especially small and medium - sized enterprises which , however , are not adequately involved in the standardisation system so that the risk exists that standards do not take into account the needs and concerns of sme . consequently , it is essential to improve their representation and participation in the standardisation process , particularly in the technical committees . ### standards are important tools for undertakings and especially small and medium - sized enterprises which , however , are not adequately involved in the standardisation system so that the risk exists that standards do not take into account the needs and concerns of sme . standardisation rules should encourage smes to actively contribute their innovative technology solutions to standardisation efforts . furthermore , it is essential to improve their representation and participation in the standardisation process , particularly in the technical committees .


### european standards are of vital interest for the competitiveness of smes which , however , are in general under - represented in standardisation activities , in particular at european level . thus , this regulation should ensure an appropriate representation of sme in the european standardisation process by an entity with appropriate qualifications . ### european standards are of vital interest for the competitiveness of smes which , however , are in some areas under - represented in standardisation activities , in particular at european level . thus , this regulation should ensure an appropriate representation of smes in the european standardisation process , while maintaining the principle of national delegation and avoiding an unnecessary duplication of structures at european level .


### in accordance with article 154 of the treaty , the commission consulted the social partners on the possible direction of union action in this field . ### in accordance with article 154 of the treaty , the commission consulted the social partners on the possible direction of union action in this field and the social partners indicated that explanatory guidance in particular for smes would be useful .


### it is necessary to provide for the effective communication of information on risks resulting from biocidal products and risk management measures as it forms an essential part of the system established by this regulation . while facilitating access to information , competent authorities , the agency and the commission should respect the principle of confidentiality and avoid any disclosure of information which could be harmful for the commercial interests of the person concerned . ### it is necessary to provide for the effective communication of information on risks resulting from biocidal products and risk management measures as it forms an essential part of the system established by this regulation . while facilitating access to information , competent authorities , the agency and the commission should respect the principle of confidentiality and avoid any disclosure of information which could be harmful for the commercial interests of the person concerned , except where this is necessary for the protection of human health and the environment .


### following the report of the commission on the implementation of this regulation referred to in article 54 and in light of the experience gained with the community authorisations , the commission may add other categories of biocidal products in paragraph 1 of this article . ### following the report of the commission on the implementation of this regulation referred to in article 54 and in light of the experience gained with the community authorisations , the commission may propose that the european parliament and the council add other categories of biocidal products in paragraph 1 of this article . the european parliament and the council shall act pursuant to article 294 of the treaty .


### by way of derogation from article 10 , the inclusion of an active substance in annex i that is considered as a candidate for substitution shall be renewed for a period not exceeding ten years . ### by way of derogation from article 10 , the inclusion of an active substance in annex i that is considered as a candidate for substitution shall be renewed for periods not exceeding ten years .


### notwithstanding article 15 , an authorisation for a biocidal product containing an active substance that is a candidate for substitution shall be granted for a period not exceeding five years . ### notwithstanding article 15 , an authorisation for a biocidal product containing an active substance that is a candidate for substitution shall be granted for periods not exceeding five years .


### new knowledge or information on the effects of the active substance or biocidal product for humans or the environment ; ### new knowledge or information on the effects of the active substance or biocidal product for humans or the environment , especially those regarding vulnerable groups ;


### where this is necessary because of the size or the function of the treated article or material , the labelling shall be printed on the packaging , on the instructions for use or on the warranty of the treated article or material . ### the labelling shall be printed on the packaging , on the instructions for use and on the warranty of the treated article or material .


### however , where urgent action is essential to protect human health , safety or the environment , the agency or the competent authorities may disclose the information referred to in this paragraph . ### however , where urgent action is essential to protect human health , safety or the environment , the agency or the competent authorities shall take the necessary measures to disclose the information referred to in this paragraph .


### producers , importers and professional users of biocidal products shall keep records of the biocidal products they produce , place on the market or use for at least three years . they shall make available the relevant information contained in these records to the competent authority on request . ### producers , importers and professional users of biocidal products shall keep records of the biocidal products they produce , place on the market or use for at least ten years . they shall make available the relevant information contained in these records to the competent authority on request .


### if accompanied by a leaflet , the sentence ' read attached instructions before use ' ; ### if accompanied by a leaflet , the sentence ' read attached instructions before use ' and where applicable warnings for vulnerable groups ;


### member states may require that biocidal products placed on the market of their territories are labelled in their national language or languages . ### biocidal products placed on the market of the territories of the member states shall be labelled in the national language or languages of the country where they are marketed .


### the introduction of a commercial solution for a consolidated tape for equities should contribute to creating a more integrated european market and make it easier for market participants to gain access to a consolidated view of trade transparency information that is available . the envisaged solution is based on an authorisation of providers working along pre - defined and supervised parameters which are in competition with each other in order to achieve technically highly sophisticated and innovative solutions , serving the market to the greatest extent possible . ### the introduction of a consolidated tape for equities should contribute to creating a more integrated european market and make it easier for market participants to gain access to a consolidated view of trade transparency information that is available at reasonable prices compared to the production costs . the envisaged solution would be operated by a single entity . however , this entity would be a commercial undertaking that is appointed following a public tender every third year upon the merit of its bid submitted to the european commission .


### all venues which offer trading in commodity derivatives should have in place appropriate limits or suitable alternative arrangements designed to support liquidity , prevent market abuse , and ensure the orderly pricing and settlement conditions . esma should maintain and publish a list containing summaries of all such measures in force . these limits or arrangements should be applied in a consistent manner and take account of the specific characteristics of the market in question . they should be clearly spelled out as regards to whom they apply and any exemptions thereto , as well as to the relevant quantitative thresholds which constitute the limits or which may trigger other obligations . the commission should be empowered to adopt delegated acts , including with a view to avoiding any divergent effects of the limits or arrangements applicable to comparable contracts on different venues . ### in addition to the powers made available to competent authorities to impose position limits , all venues which offer trading in commodity derivatives should have in place appropriate position management arrangements designed to support liquidity , prevent market abuse , and ensure the orderly pricing and settlement conditions . such arrangements may include for instance identification of build - up of large position concentrations especially close to settlement , position limits , price movement limits , ordering liquidation or transfer of open positions , suspension of trading , altering delivery terms or conditions , cancelling trades and requiring delivery intentions . it must however be recognised that one trading venue is not able to view the aggregate positions taken by its members or participants in relation to the overall market . esma should define the key features of a harmonised position management regime through regulatory technical standards and maintain and publish a list containing summaries of all such measures in force . these arrangements should be applied in a consistent manner and take account of the specific characteristics of the market in question . they should be clearly spelled out as regards to whom they apply and any exemptions thereto , as well as to the relevant quantitative thresholds which constitute the limits or which may trigger other obligations . the commission should be empowered to adopt delegated acts , including with a view to avoiding any divergent effects of the arrangements applicable to comparable contracts on different venues .


### provided that in all cases this is an ancillary activity to their main business , when considered on a group basis , and that main business is not the provision of investment services within the meaning of this directive or banking services under directive 2006 / 48 / ec ; ### provided that in all cases such provision of investment services is of limited importance and is an ancillary activity to their main business when considered on a group basis and that main business is not the provision of investment services within the meaning of this directive or banking services under directive 2006 / 48 / ec ;


### the commission shall adopt delegated acts in accordance with article 94 concerning measures in respect of exemptions and , to clarifying when an activity is to be considered as ancillary to the main business on a group level as well as for determining when an activity is provided in an incidental manner . ### the commission shall adopt delegated acts in accordance with article 94 concerning measures in respect of exemptions and , to clarifying when an activity is to be considered as ancillary to the main business on a group level and of limited importance as well as for determining when an activity is provided in an incidental manner .


### the commission shall be empowered to adopt delegated acts in accordance with article 94 concerning measures to specify the thresholds mentioned in the last subparagraph of paragraph 1 and to refine the categories of members , participants or clients mentioned in paragraph 3 . ### esma shall develop draft regulatory technical standards to specify the thresholds mentioned in the last subparagraph of paragraph 1 and to refine the categories of members , participants or clients mentioned in paragraph 3 .


### the monitoring of the economies of the member states and of the economic and monetary union requires comparable , up - to - date and reliable information on the structure and developments in the economic situation of each member state or region . ### policy - making in the union and monitoring of the economies of the member states and of the economic and monetary union requires comparable , up - to - date and reliable information on the structure and development of the economic situation of each member state or region .


### union citizens need economic accounts as a basic tool for analysing the economic situation of a member state or region . for the sake of comparability , such accounts should be drawn up on the basis of a single set of principles that are not open to differing interpretations . ### union citizens need economic accounts as a basic tool for analysing the economic situation of a member state or region . for the sake of comparability , such accounts should be drawn up on the basis of a single set of principles that are not open to differing interpretations . the information provided should be as precise , complete and timely as possible in order to ensure maximum transparency , especially as regards the public sector .


### the commission should use aggregates of national accounts for union administrative purposes and , in particular , budgetary calculations . ### the commission should use aggregates of national and regional accounts for union administrative purposes and , in particular , budgetary calculations .


### a task force has been set up to further examine the issue of the treatment of financial intermediation services indirectly measured in national accounts . taking into consideration the findings of the task force , it may be necessary to amend the methodology for the calculation and allocation of fisim , by means of a delegated act before the end of 2012 , in order to provide more reliable results . ### a task force has been set up to further examine the issue of the treatment of financial intermediation services indirectly measured in national and regional accounts . taking into consideration the findings of the task force , it may be necessary to amend the methodology for the calculation and allocation of fisim , by means of a delegated act before the end of 2012 , in order to provide more reliable results .


### the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty on the functioning of the european union for the purposes of amending the annexes to this regulation . it is of particular importance that the commission carries out appropriate consultations during its preparatory work , including at expert level . ### the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission for the purposes of amending the annexes to this regulation . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level and , where appropriate , the european central bank . the commission , when preparing and drawing up delegated acts , should ensure a simultaneous , timely and appropriate transmission of relevant documents to the european parliament and to the council .


### member states shall carry out the calculation and allocation of financial intermediation services indirectly measured in national accounts in accordance with the methodology described in annex a . the commission may lay down before the end of 2012 , by means of delegated acts in accordance with articles 7 , 8 and 9 , a methodology for the calculation and allocation of fisim . ### member states shall carry out the calculation and allocation of financial intermediation services indirectly measured in national and regional accounts in accordance with the methodology described in annex a . the commission may lay down before the end of 2012 , by means of delegated acts in accordance with articles 7 , 8 and 9 , a methodology for the calculation and allocation of fisim .


### the commission shall assess the quality of the data transmitted . ### the commission shall assess the quality of the data transmitted . the commission shall report to the european parliament on the quality of data on national and regional accounts every two years from . . . * . _____________ * oj please insert date : two years from the date of entry into force of this regulation .


### insofar as the national statistical system necessitates major adaptations for the application of this regulation , the commission may grant derogations to member states in accordance with the procedure referred to in article 10 from its application until 1 january 2020 . ### insofar as the national statistical system necessitates major adaptations for the application of this regulation , the commission may grant temporary derogations to member states in accordance with the procedure referred to in article 10 from its application until 1 january 2020 .


### the european parliament or the council may object to a delegated act within a period of two months from the date of notification . at the initiative of the european parliament or the council that period shall be extended by two months . ### the european parliament or the council may object to a delegated act within a period of three months from the date of notification . at the initiative of the european parliament or the council that period shall be extended by three months .


### the analysis of the interdependencies between the economies of the eu ; ### the analysis of the interdependence between the economies of the eu , taking into account member states and their regions , particularly where those regions have legislative and fiscal powers ;


### 21 a holding company that simply owns the assets of subsidiaries is one example of a captive financial institution . other units that are also treated as captive financial institutions are units with the characteristics of spes as described above including investment and pension funds and units used for holding and managing wealth for individuals or families , holding assets for securitisation , issuing debt securities on behalf of related companies , securitisation vehicles and to carry out other financial functions . ### 21 a holding company that simply owns the assets of subsidiaries is one example of a captive financial institution . other units that are also treated as captive financial institutions are units with the characteristics of spes as described above including investment and pension funds and units used for holding and managing wealth for individuals or families , issuing debt securities on behalf of related companies , and to carry out other financial functions .


### 75 definition : the subsector deposit - taking corporations except the central bank includes all financial corporations and quasi - corporations , except those classified in the central bank and in the mmf subsectors , which are principally engaged in financial intermediation and whose business is to receive deposits from institutional units , and , for their own account , to grant loans and / or to make investments in securities . ### 75 definition : the subsector deposit - taking corporations except the central bank includes all financial corporations and quasi - corporations , except those classified in the central bank and in the mmf subsectors , which are principally engaged in financial intermediation and whose business is to receive deposits and / or close substitutes for deposits from institutional units other than mfis , and , for their own account , to grant loans and / or to make investments in securities .


### 90 definition : financial vehicle corporations engaged in securitisation transactions are undertakings carrying out securitisation transactions . fvc that satisfy the criteria of an institutional unit are classified in s . 125 , otherwise they are treated as an integral part of the parent . ### 90 definition : financial vehicle corporations engaged in securitisation transactions are undertakings carrying out securitisation transactions .


### each member state shall carry out in every calendar year a total number of initial roadside inspections , corresponding to at least 5% of the total number of vehicles referred to in article 3 that are registered in its territory . ### each member state shall carry out in every calendar year a number of initial roadside inspections . a target could be corresponding to 5% of the total number of vehicles referred to in article 3 that are registered in its territory .


### the european agency for the management of operational cooperation at the external borders of the member states of the european union established by council regulation no 2007 / 2004 of 26 october 2004 is responsible for the coordination of operational cooperation between member states in the field of management of the external borders , including as regards border surveillance . the agency is also responsible to assist member states in circumstances requiring increased technical assistance at the external borders , taking into account that some situations may involve humanitarian emergencies and rescue at sea . specific rules with regard to border surveillance activities carried out by maritime and aerial units of one member state at the sea border of other member states or on the high seas in the context of operational cooperation coordinated by the agency are necessary to further strengthen such cooperation . ### the european agency for the management of operational cooperation at the external borders of the member states of the european union established by council regulation no 2007 / 2004 of 26 october 2004 is responsible for the coordination of operational cooperation between member states in the field of management of the external borders , including as regards border surveillance . the agency is also responsible to assist member states in circumstances requiring increased technical assistance at the external borders , taking into account that some situations may involve humanitarian emergencies and rescue at sea . specific rules with regard to border surveillance activities carried out by maritime and aerial units of one member state at the sea border of other member states or on the high seas in the context of operational cooperation coordinated by the agency are necessary to further strengthen such cooperation . to this end , the agency shall endeavour to use innovative applications of existing technologies in order to improve and simplify information gathering as well as information sharing especially for those maritime areas facing the greatest pressure of unauthorised crossings and having the greater difficulty , because of geographical and climatic reasons , to adequately monitor such traffic .


### during a border surveillance operation at sea , a situation may occur where it will be necessary to render assistance to persons found in distress . in accordance with international law , every state must require the master of a ship flying its flag , in so far as he can do so without serious danger to the ship , the crew or the passengers , to render assistance to any person found at sea in danger of being lost and to proceed with all possible speed to the rescue of persons in distress . such assistance should be provided regardless of the nationality or status of the persons to be assisted or of the circumstances in which they are found . ### during a border surveillance operation at sea , a situation may occur where it will be necessary to render assistance to persons found in distress . in accordance with international law , every state must require the master of a ship flying its flag , in so far as he can do so without serious danger to the ship , the crew or the passengers , to render assistance to any person found at sea in danger of being lost and to proceed with all possible speed to the rescue of persons in distress . such assistance should be provided regardless of the nationality or status of the persons to be assisted or of the circumstances in which they are found ; accordingly , no measures , including criminal procedures and sanctions , should be taken discouraging ship masters from rendering assistance to any person in distress at sea .


### pursuant to regulation no 2007 / 2004 , border surveillance operations coordinated by the agency are conducted in accordance with an operational plan . accordingly , as regards sea operations , the operational plan should include specific information on the application of the relevant jurisdiction and legislation in the geographical area where the joint operation or pilot project takes place , including references to international and union law , regarding interception , rescue at sea and disembarkation . in turn , this regulation governs the issues of interception , rescue at sea and disembarkation in the context of sea border surveillance operations coordinated by the agency . ### pursuant to regulation no 2007 / 2004 , border surveillance operations coordinated by the agency are conducted in accordance with an operational plan . accordingly , as regards sea operations , the operational plan should include specific information on the application of the relevant jurisdiction and legislation in the geographical area where the joint operation or pilot project takes place , including references to international and union law , regarding interception , rescue at sea and disembarkation , including rules and procedures which ensure that persons with international protection needs including potential victims of trafficking , unaccompanied minors and other vulnerable persons are identified during the operation , and that they are provided with the adequate assistance . in turn , this regulation governs the issues of interception , rescue at sea and disembarkation in the context of sea border surveillance operations coordinated by the agency .


### before deciding on disembarkation in a third country , the participating units shall take into account the general situation in that third country and intercepted or rescued persons shall not be disembarked in that third country when the host member state or the participating member states are aware or ought to be aware that this third country is engaged in practices as described in paragraph 1 . ### before deciding on disembarkation in a third country , the agency , the host member state and other participants shall take into account the general situation in that third country and intercepted or rescued persons shall not be disembarked in that third country when they are aware that this third country is engaged in practices as described in paragraph 1 . in this regard , a list of third countries shall be adopted in accordance with the examination procedure referred to in article 5 of regulation 182 / 2011 .


### this regulation establishes measures aimed at safeguarding the security of gas supply so as to ensure the proper and continuous functioning of the internal market for gas by providing for a clear definition and attribution of responsibilities and for a coordination of the response at the level of the member states and the community regarding both preventive action and the reaction to concrete disruptions of supply . ### this regulation establishes measures aimed at safeguarding the security of gas supply so as to ensure the proper and continuous functioning of the internal market for gas , and exceptional measures to be implemented where the market cannot deliver the required gas supply , by providing for a clear definition and attribution of responsibilities and for a coordination of the response at the level of the member states and the union regarding both preventive action and the reaction to concrete disruptions of supply in a spirit of solidarity between the member states .


### security of gas supply is a task of the natural gas undertakings , competent authorities of the member states , the industrial gas customers , and the commission within their respective areas of responsibility . it requires a high degree of cooperation between them . ### security of gas supply is a task of the natural gas undertakings , competent authorities of the member states , the industrial gas customers , and the commission within their respective areas of responsibility . a high degree of cooperation between them is required , and transparency and efficient exchange of information is essential .


### by [ 31 march 2011 ; 12 months from entry into force ] at the latest , the competent authority , after consultation of the natural gas undertakings , of the relevant organisations representing the interests of household and industrial customers and of the regulatory authority , where it is not the competent authority , shall establish : ### by . . . * , on the basis of the risk and impact assessment carried out in accordance with article 8 , the competent authority , after consultation of the natural gas undertakings , of the relevant organisations representing the interests of household and industrial customers and of the regulatory authority , where it is not the competent authority , shall establish : * oj please insert date : 12 months from the entry into force of this regulation .


### within six months after the notification of the plans by the competent authorities , the commission shall assess the plans of all member states . the commission shall consult entso - g , acer , the gas coordination group and other concerned stakeholders on those plans . where the commission considers that a plan is not effective to mitigate the risks as identified in the risk assessment or inconsistent with the risk scenarios or the plans of other member states , or that it does not comply with the provisions of this regulation or other provisions of community law , it shall require the revision of the plan . ### within six months after the notification of the plans by the competent authorities , the commission shall assess the plans of all member states and all joint regional plans . the commission shall consult entso - g , acer , the gas coordination group and other concerned stakeholders on those plans . where the commission considers that a plan is not effective to mitigate the risks as identified in the risk assessment or inconsistent with the risk scenarios or the plans of other member states or other regional plans , or that it does not comply with the provisions of this regulation or other provisions of european union law , it shall require the revision of the plan .


### identify the contribution of the non - market based measures planned or to be implemented for the emergency level listed in annex iii and assess the degree to which the use of non - market based measures is necessary to cope with the crisis , assess their effects and define the procedures to implement them ; ### identify the contribution of the non - market based measures planned or to be implemented for the emergency level listed in annex iii , on the basis of a cost - benefit analysis assess the degree to which the use of non - market based measures is necessary to cope with the crisis , and only as a last resort in order to safeguard continuity of gas supply , assess their effects and define the procedures to implement them ;


### early warning level : when there is concrete , serious and reliable information , possibly triggered by an early warning mechanism , that an event may occur which will deteriorate the supply conditions ; ### early warning level : concrete , serious and reliable suggests that supply conditions could deteriorate in the short term . the market is expected to solve the problem without the intervention of the competent authority ;


### the commission may declare a community emergency at the request of one competent authority or when the community loses more than 10% of its daily gas import from third countries as calculated by entso - g . it shall declare a community emergency where more than one competent authority has declared emergency following the verification in accordance with article 9 . it may declare a community emergency for specifically affected geographical regions comprising more than one member state . ### the commission may declare a union emergency at the request of one competent authority or where the union is losing more than 10% of its daily gas import from third countries &#8211 ; which amounts to the daily consumption of certain member states &#8211 ; as calculated by entso - g . it shall declare a union emergency where more than one competent authority has declared emergency following the verification in accordance with article 9 . it may declare a union emergency for specifically affected geographical regions comprising more than one member state .


### the competent authorities and the commission shall ensure the confidentiality of commercially sensitive information . ### the competent authorities and the commission shall establish a structure to ensure the confidentiality and protection of commercially sensitive information .


### pension products for which a financial contribution from the employer is required by national law and where the employee has no choice as to the pension product provider . ### pension products for which the financial arrangements do not fall under the scope of the directive 2003 / 41 / ec or under the directive 2009 / 138 / ec ; and for which the level of retirement provision is in effect a promise or an offer by the employer to the employee . for pension products which do not fall under the directive 2003 / 41 / ec or the directive 2009 / 138 / ec or under this regulation , member states shall provide equivalent disclosure requirements .


### customers within the meaning of directive 2002 / 92 / ec ; ### customers who are not professional customers as defined in [ relevant articles of imd ] [ . . . ] of directive 2002 / 92 / ec ;


### the key information document shall be accurate , fair , clear and not misleading . ### the key information document . the key information document shall constitute pre - contractual information . it shall be accurate , fair , clear and not misleading .


### the commission shall be empowered to adopt delegated acts in accordance with article 23 specifying the details of the presentation and the content of each of the elements of information referred to in paragraph 2 , the presentation and details of the other information the product manufacturer may include within the key information document as referred to in paragraph 3 , and the details of the common format and the common symbol referred to in paragraph 4 . the commission shall take into account the differences between investment products and the capabilities of retail investors as well as the features of investment products that allow the retail investor to select between different underlying investments or other options provided for by the product , including where this selection can be undertaken at different points in time , or changed in the future . ### the commission shall be empowered to adopt technical standards in accordance with article 23 specifying the details of the presentation and the content of each of the elements of information referred to in paragraph 2 , the presentation and details of the other objective information the product manufacturer may include within the key information document as referred to in paragraph 3 , and the details of the common format and the common symbol referred to in paragraph 4 . the commission shall take into account the differences between investment products and the capabilities of retail investors as well as the features of investment products that allow the retail investor to select between different underlying investments or other options provided for by the product , including where this selection can be undertaken at different points in time , or changed in the future .


### the commission shall be empowered to adopt delegated acts in accordance with article 23 laying down detailed rules for the review of the information contained in the key information document and the revision of the key information document , as regards : ### the commission shall be empowered to adopt technical standards in accordance with article 23 laying down detailed rules for the review of the information contained in the key information document and the revision of the key information document , as regards :


### the commission shall be empowered to adopt delegated acts in accordance with article 23 specifying : ### the european banking authority , the european insurance and occupational pensions authority and the european securities and markets authority shall jointly develop technical standards in accordance with article 23 specifying :


### a warning , which is made public and which identifies the person responsible and the nature of the breach ; ### a warning , which is made public and which identifies the legal person responsible and the nature of the breach ;


### the power to adopt delegated acts is conferred on the commission subject to the conditions laid down in this article . ### the power to adopt technical standards is conferred on the commission subject to the conditions laid down in this article .


### the power to adopt delegated acts referred to in articles 8 , 10 and 12 shall be conferred on the commission for a period of [ 4 years ] from the entry into force of this regulation . the delegation of power shall be tacitly extended for periods of an identical duration , unless the european parliament or the council opposes such extension not later than three months before the end of each period . ### the power to adopt technical standards referred to in articles 8 , 10 and 12 shall be conferred on the commission for a period of [ 4 years ] from the entry into force of this regulation . the delegation of power shall be tacitly extended for periods of an identical duration , unless the european parliament or the council opposes such extension not later than three months before the end of each period .


### the delegation of powers referred to in articles 8 , 10 and 12 may be revoked at any time by the european parliament or by the council . a decision of revocation shall put an end to the delegation of the power specified in that decision . it shall take effect the day following the publication of the decision in the official journal of the european union or at a later date specified therein . it shall not affect the validity of any delegated acts already in force . ### the delegation of powers referred to in articles 8 , 10 and 12 may be revoked at any time by the european parliament or by the council . a decision of revocation shall put an end to the delegation of the power specified in that decision . it shall take effect the day following the publication of the decision in the official journal of the european union or at a later date specified therein . it shall not affect the validity of any technical standards already in force .


### as soon as it adopts a delegated act , the commission shall notify it simultaneously to the european parliament and to the council . ### as soon as it adopts technical standards , the commission shall notify it simultaneously to the european parliament and to the council .


### a delegated act adopted pursuant to articles 8 , 10 and 12 shall enter into force only if no objection has been expressed either by the european parliament or the council within a period of 2 months of notification of that act to the european parliament and the council or if , before the expiry of that period , the european parliament and the council have both informed the commission that they will not object . that period shall be extended by [ 2 months ] at the initiative of the european parliament or the council . ### a technical standard adopted pursuant to articles 8 , 10 and 12 shall enter into force only if no objection has been expressed either by the european parliament or the council within a period of 2 months of notification of that act to the european parliament and the council or if , before the expiry of that period , the european parliament and the council have both informed the commission that they will not object . that period shall be extended by [ 2 months ] at the initiative of the european parliament or the council .


### four years after the date of entry into force of this regulation , the commission shall review this regulation . the review shall include a general survey of the practical application of the rules laid down in this regulation , taking due account of developments in the market for retail investment products . as regards ucits as defined in article 1 of directive 2009 / 65 / ec , the review shall assess whether the transitional arrangements under article 24 of this regulation shall be prolonged , or whether , following the identification of any necessary adjustments , the provisions on key investor information in directive 2009 / 65 / ec might be replaced by or considered equivalent to the key investor document under this regulation . the review shall also reflect on a possible extension of the scope of this regulation to other financial products . ### four years after the date of entry into force of this regulation , the commission shall review this regulation . the review shall include a general survey of the practical application of the rules laid down in this regulation , taking due account of developments in the market for retail investment products . as regards ucits as defined in article 1 of directive 2009 / 65 / ec , the review shall assess whether the transitional arrangements under article 24 of this regulation shall be prolonged , or whether , following the identification of any necessary adjustments , the provisions on key investor information in directive 2009 / 65 / ec might be replaced by or considered equivalent to the key investor document under this regulation . the review shall also reflect on a possible extension of the scope of this regulation to other financial products , including those falling under the directive 2003 / 71 / ec and any other investments and savings products .


### implementing powers shall be conferred on the commission to establish the modalities of publication of the information referred to in the above paragraph , the criteria for aggregating the relevant data and the frequency of updates . those implementing acts shall be adopted in accordance with the advisory procedure referred to in article 31 . ### implementing powers shall be conferred on the commission to establish the modalities of publication of the information referred to in the above paragraph , the criteria for aggregating the relevant data and the frequency of updates . those implementing acts shall be adopted in accordance with the examination procedure under article 5 of regulation no 182 / 2011 .


### despite the existing union legislation aimed at preventing and combating sex discrimination , the council recommendations aimed specifically at increasing the presence of women in economic decision - making and union - level actions encouraging self - regulation , women continue to be strongly outnumbered by men in the highest decision - making bodies of companies throughout the union . in the private sector and especially in listed companies this gender imbalance is particularly significant and acute . the commission ' s key indicator of gender representation on corporate boards shows that the proportion of women involved in top - level business decision - making remains very low . in january 2012 , women occupied on average just 13 . 7 per cent of board seats in the largest publicly listed companies in member states . among non - executive directors only 15 per cent were women . ### despite the existing union legislation aimed at preventing and combating sex discrimination , the council recommendations aimed specifically at increasing the presence of women in economic decision - making and union - level actions encouraging self - regulation , women continue to be strongly outnumbered by men in the highest decision - making bodies of companies throughout the union . the same is also true of some eu institutions and agencies , such as the european central bank , which should be setting an example by representing all citizens . it will be recalled that , during the appointment of a new member of the ecb executive board in late 2012 , the heads of state and government refused to implement a minimum of gender equality , in contravention of article 2 of the treaty , despite the negative opinion of the european parliament . in the private sector and especially in listed companies this gender imbalance is particularly significant and acute . the commission ' s key indicator of gender representation on corporate boards shows that the proportion of women involved in top - level business decision - making remains very low . in january 2012 , women occupied on average just 13 . 7 per cent of board seats in the largest publicly listed companies in member states . among non - executive directors only 15 per cent were women .


### despite the existing union legislation aimed at preventing and combating sex discrimination , the council recommendations aimed specifically at increasing the presence of women in economic decision - making and union - level actions encouraging self - regulation , women continue to be strongly outnumbered by men in the highest decision - making bodies of companies throughout the union . in the private sector and especially in listed companies this gender imbalance is particularly significant and acute . the commission ' s key indicator of gender representation on corporate boards shows that the proportion of women involved in top - level business decision - making remains very low . in january 2012 , women occupied on average just 13 . 7 per cent of board seats in the largest publicly listed companies in member states . among non - executive directors only 15 per cent were women . ### despite the existing union legislation aimed at preventing and combating sex discrimination , the council recommendations aimed specifically at increasing the presence of women in economic decision - making and union - level actions encouraging self - regulation , women continue to be strongly outnumbered by men in the highest decision - making bodies of companies throughout the union . in the private sector this gender imbalance is particularly significant and acute , although certain eu institutions and agencies , such as the european central bank , also display a deeply problematic gender imbalance . the commission ' s key indicator of gender representation on corporate boards shows that the proportion of women involved in top - level business decision - making remains very low . in january 2012 , women occupied on average just 13 . 7 per cent of board seats in the largest publicly listed companies in member states . among non - executive directors only 15 per cent were women .


### the scattered and divergent regulation or the absence of regulation at national level as regards the gender balance on boards of listed companies does not only lead to discrepancies in the number of women among non - executive directors and different rates of improvement across member states , but also poses barriers to the internal market by imposing divergent corporate governance requirements on european listed companies . those differences in legal and self - regulatory requirements for the composition of corporate boards can lead to practical complications for listed companies operating across borders , notably when establishing subsidiaries or in mergers and acquisitions , as well as for candidates for board positions . ### the scattered and divergent regulation or the absence of regulation at national level as regards the gender balance on boards of listed companies leads to discrepancies in the number of women among non - executive directors and different rates of improvement across member states . those differences in legal and self - regulatory requirements for the composition of corporate boards can lead to practical complications for listed companies operating across borders , notably when establishing subsidiaries or in mergers and acquisitions , as well as for candidates for board positions .


### in several member states , a certain proportion of the non - executive directors can or must be appointed or elected by the company ' s workforce and / or organisations of workers pursuant to national law or practice . the quantitative objectives provided for in this directive should apply to all non - executive directors including employee representatives . however , the practical procedures for ensuring that those objectives are attained , taking into account the fact that some non - executive directors are employee representatives , should be defined by the member states concerned . ### in several member states , a certain proportion of the non - executive directors can or must be appointed or elected by the company ' s workforce and / or organisations of workers pursuant to national law or practice . the union ' s nomination of employee representatives to boards should take due regard to gender balance . however , the practical procedures for employee representatives should be defined by the member states concerned . it is important that employee organisations are involved in the development and implementation of gender policies in the company . employee representation on the boards of listed companies is also a positive way of enhancing diversity by including key perspectives and genuine knowledge of the internal workings of the company .


### in line with that case - law , member states should ensure that the selection of the best qualified candidates for non - executive directors is based on a comparative analysis of the qualifications of each candidate on the basis of pre - established , clear , neutrally formulated and unambiguous criteria . examples of types of selection criteria that companies could apply include professional experience in managerial and / or supervisory tasks , knowledge in specific relevant areas such as finance , controlling or human resources management , leadership and communication skills and networking abilities . priority should be given to the candidate of the under - represented sex if that candidate is equally qualified as the candidate of the other sex in terms of suitability , competence and professional performance , and if an objective assessment taking account of all criteria specific to the individual candidates does not tilt the balance in favour of a candidate of the other sex . ### in line with that case - law , listed companies should be encouraged to base the selection of the best qualified candidates for non - executive directors on a comparative analysis of the qualifications of each candidate on the basis of pre - established , clear , neutrally formulated and unambiguous criteria . examples of types of selection criteria that companies could apply include professional experience in managerial and / or supervisory tasks , knowledge in specific relevant areas such as finance , controlling or human resources management , leadership and communication skills and networking abilities . priority may be given to the candidate of the under - represented sex if that candidate is equally qualified as the candidate of the other sex in terms of suitability , competence and professional performance , and if an objective assessment taking account of all criteria specific to the individual candidates does not tilt the balance in favour of a candidate of the other sex .


### member states should provide for effective , proportionate and dissuasive sanctions for breaches of this directive , which could include , inter alia , administrative fines and nullity or annulment declared by a judicial body of the appointment or of the election of non - executive directors made contrary to the national provisions adopted pursuant to article 4 . ### member states should provide for effective , proportionate and dissuasive administrative sanctions for breaches of this directive . sanctions shall be applied in the case of listed companies that do not comply with the procedures for setting targets and developing a gender policy as laid down in article 4 or with the disclosure requirements as defined in article 5 of this directive . however , the case of companies ' failure to reach their individually set targets should not qualify as a breach of this directive and should not trigger a sanctioning regime .


### member states should require listed companies to provide information on the gender composition of their boards as well as information on how they managed to meet the objectives laid down in this directive , on a yearly basis to the competent national authorities in order to enable them to assess the progress of each listed company towards gender balance among directors . such information should be published and , where the company in question has not met the objective , it should include a description of the measures that it has taken so far and intends to take in the future in order to meet the objective . ### member states should require listed companies to provide information on the gender composition of their boards as well as on the measures taken to meet the objectives laid down in this directive , on a yearly basis to the competent national authorities in order to enable them to assess the progress of each listed company towards gender balance among directors . such information should be published in the annual report and on the company ' s website and , where the company in question has not met the individually set targets , it should include a description of the measures that it has taken so far and intends to take in the future in order to meet those targets .


### member states may have already taken measures providing for means to ensure a more balanced representation of women and men in company boards before the entry into force of this directive . such member states should have an opportunity to apply those measures in place of the procedural requirements relating to appointments where they can demonstrate that the measures taken are of equivalent efficacy in order to attain the objective of a presence of the under - represented sex of at least 40 per cent among non - executive directors of listed companies at the latest by 1 january 2020 or at the latest by 1 january 2018 in case of listed companies which are public undertakings . ### member states may have already taken measures providing for means to ensure a more balanced representation of women and men in company boards before the entry into force of this directive . such member states should have an opportunity to apply those measures in place of the procedural requirements relating to appointments where they can demonstrate that the measures taken are of equivalent efficacy in order to attain the long - term objective of a proportion of the underrepresented sex of at least 40 per cent among non - executive and executive directors of listed companies .


### in accordance with the principle of proportionality , the objective to be met by listed companies should be limited in time and remain in force only until sustainable progress has been achieved in the gender composition of boards . for that reason , the commission should regularly review the application of this directive and report to the european parliament and the council . the directive is due to expire on 31 december 2028 . the commission should assess , in its review , if there is a need to extend the duration of the directive beyond that period . ### in accordance with the principle of proportionality , the objective to be met by listed companies should be limited in time and remain in force only until sustainable progress has been achieved in the gender composition of boards . for that reason , the commission should regularly review the application of this directive and report to the european parliament and the council at two - yearly intervals , starting no later than 31 december 2021 . the directive is due to expire on 31 december 2028 . the commission should assess , in its review , if there is a need to extend the duration of the directive beyond that period .


### member states shall ensure that listed companies in whose boards members of the under - represented sex hold less than 40 per cent of the non - executive director positions make the appointments to those positions on the basis of a comparative analysis of the qualifications of each candidate , by applying pre - established , clear , neutrally formulated and unambiguous criteria , in order to attain the said percentage at the latest by 1 january 2020 or at the latest by 1 january 2018 in case of listed companies which are public undertakings . ### member states shall establish binding measures that ensure that the listed companies set a target figure for the proportion of the under - represented gender in boards . the individual company shall thus specifically set a target which is realistic and ambitious for the company itself . the listed companies are also required to have a policy for increasing the proportion of the under - represented gender at the management levels of the companies in general . this means that the individual company must establish the optimum recruitment basis in the light of its specific needs and ideas . listed companies must report on the status of fulfilment of the target set out in the annual report , including , if so , why the companies failed to achieve the target set . moreover , companies must present the policy in the annual report , how the policy is implemented and what has been achieved . if the companies fail to do so , they may be fined . these requirements do not apply to representatives of the employees


### member states shall require listed companies to provide information to the competent national authorities , once a year as from [ two years after adoption ] , about the gender representation on their boards , distinguishing between non - executive and executive directors and about the measures taken in view of the objectives laid down in article 4 and in paragraph 1 of this article , and to publish that information in an appropriate and accessible manner on their website . ### member states shall require listed companies to report on their gender balance statistics and on measures taken in accordance with article 5 to the competent national authorities , once a year as from [ two years after adoption ] , and to publish that information in an appropriate and accessible manner on their website .


### where a listed company does not meet the objectives laid down in article 4 or its own individual commitments taken pursuant to paragraph 1 of this article , the information referred to in paragraph 2 of this article shall include the reasons for not reaching the objectives or commitments and a description of the measures which the company has adopted or intends to adopt in order to meet the objectives or commitments . ### does not affect english version . linguistic correction to french .


### the sanctions must be effective , proportionate and dissuasive and may include the following measures : ### sanctions shall be imposed on companies for infringing the procedure of setting target figures , of drawing up a gender policy and of disclosing the relevant information in accordance with articles 4 and 5 of this directive . the sanctions must be effective , proportionate and dissuasive and may include the following :


### without prejudice to article 4 and , member states which before the entry into force of this directive have already taken measures to ensure a more balanced representation of women and men among the non - executive directors of listed companies may suspend the application of the procedural requirements relating to appointments contained in article 4 , , and , provided that it can be shown that those measures enable members of the under - represented sex to hold at least 40 per cent of the non - executive director positions of listed companies by at the latest 1 january 2020 , or at the latest 1 january 2018 for listed companies which are public undertakings . ### member states which before the entry into force of this directive have already taken measures to ensure a more balanced representation may suspend the application of this directive provided that those measures are binding , and that the listed companies are obliged to report to the member state on the status of fulfilment of the target on a regular basis .


### member states shall communicate to the commission by 1 january 2017 at the latest and every two years thereafter a report on the implementation of this directive . these reports shall include , amongst others , comprehensive information about the measures taken with a view to attaining the objectives laid down in article 4 , information provided in accordance with article 5 and information about individual commitments taken by listed companies pursuant to article 5 . ### member states shall communicate to the commission by 1 january 2017 at the latest and every two years thereafter a report on the implementation of this directive . these reports shall include information about individual commitments taken by listed companies pursuant to article 4 and the information disclosed by the listed companies in accordance with article 5 and .


### member states having suspended pursuant to article 8 the application of the procedural requirements relating to appointments contained in article 4 , , and shall include information in the reports mentioned in paragraph 1 demonstrating the concrete results obtained by the national measures referred to in article 8 . the commission shall then issue a specific report ascertaining whether those measures effectively enable members of the under - represented sex to hold at least 40 per cent of the non - executive director positions by 1 january 2018 for listed companies which are public undertakings , and by 1 january 2020 for listed companies which are not public undertakings . the first such report shall be issued by the commission by 1 july 2017 , and subsequent reports shall be issued within six months after notification of the respective national reports under paragraph 1 . ### member states having suspended pursuant to article 8 the application of the procedural requirements contained in article 4 and and article 5 shall include information in the reports mentioned in paragraph 1 demonstrating the concrete results obtained by the national measures referred to in article 8 . the commission shall then issue a specific report ascertaining whether those measures effectively enable members of the under - represented sex to hold at least 40 per cent of the non - executive director positions of listed companies by 1 january 2020 . the first such report shall be issued by the commission by 1 july 2017 , and subsequent reports shall be issued within six months after notification of the respective national reports under paragraph 1 .


### this directive respects the fundamental rights and observes the principles recognised by the charter of fundamental rights of the european union , and notably the right to an effective remedy and to a fair trial , the presumption of innocence and the right of defence , the right not to be tried or punished twice in criminal proceedings for the same criminal offence and the principles of legality and proportionality of criminal offences . ### this directive respects the fundamental rights and observes the principles recognised by the charter of fundamental rights of the european union , and notably the right to an effective remedy and to a fair trial , the presumption of innocence and the right of defence , the right not to be tried or punished twice in criminal proceedings for the same criminal offence , the principles of legality and proportionality of criminal offences , the right of access to preventive healthcare and the right to benefit from medical treatment .


### each member state shall take the necessary measures to ensure that the following intentional conduct when committed without right is punishable : ### in article 2 , introductory part of paragraph 1 is replaced by the following : ' 1 . each member state shall take the necessary measures to ensure that the following intentional conduct when committed without right as defined in national law is punishable : '