### this directive respects the fundamental rights and observes the principles recognised by the charter of fundamental rights of the european union , notably , the right to protection of personal data , the right to conduct a business and the right to a high level of consumer protection , in particular by ensuring a higher level of transparency of retirement provisioning , informed personal financial and retirement planning as well as facilitating cross - border business of insitutions for occupational retirement provision and businesses . this directive must be implemented in accordance with these rights and principles . ### this directive respects the fundamental rights and observes the principles recognised by the charter of fundamental rights of the european union , notably , the right to protection of personal data , the freedom to conduct a business , the right to property , the right of collective bargaining and action and the right to a high level of consumer protection , in particular by ensuring a higher level of transparency of retirement provisioning , informed personal financial and retirement planning as well as facilitating cross - border activities of institutions for occupational retirement provision and the transfer of pension schemes . this directive must be implemented in accordance with these rights and principles .


### in the event of the bankruptcy of a sponsoring undertaking , a member faces the risk of losing both his / her job and his / her acquired pension rights . this makes it necessary to ensure that there is a clear separation between that undertaking and the institution and that minimum prudential standards are laid down to protect members . ### in the event of the bankruptcy of a sponsoring undertaking , a member faces the risk of losing both his / her job and his / her acquired pension rights . this makes it necessary to ensure that there is a clear separation between that undertaking and the institution and that minimum prudential standards are laid down to protect members . the access of the institution to pension protection schemes or similar mechanisms which provide protection to accrued individual entitlements of members and beneficiaries against the risk of default of the sponsoring undertaking should be taken into account when prudential standards are laid down and specified .


### as very long - term investors with low liquidity risks , institutions for occupational retirement provision are in a position to invest in non - liquid assets such as shares as well as in instruments that have a long - term economic profile and are not traded on regulated markets , multilateral trading facilities or organised trading facilities within prudent limits . they can also benefit from the advantages of international diversification . investments in shares in currencies other than those of the liabilities and in instruments that have a long - term economic profile and are not traded on regulated markets , multilateral trading facilities or organised trading facilities should therefore not be restricted except on prudential grounds . ### this directive should ensure that there is an appropriate level of investment freedom for institutions . as very long - term investors with low liquidity risks , institutions for occupational retirement provision are in a position to invest in non - liquid assets such as shares as well as in instruments that have a long - term economic profile and are not traded on regulated markets , multilateral trading facilities or organised trading facilities within prudent limits . they can also benefit from the advantages of international diversification . investments in shares in currencies other than those of the liabilities and in instruments that have a long - term economic profile and are not traded on regulated markets , mtf or otf should therefore not be restricted , in line with the ' prudent person ' rule so as to protect the interest of members and beneficiaries , except on prudential grounds .


### institutions should be allowed to invest in other member states in accordance with the rules of their home member states in order to reduce the cost of cross - border activity . therefore the host member states should not be allowed to impose additional investment requirements on institutions located in other member states . ### institutions should be allowed to invest in other member states in accordance with the rules of their home member states in order to reduce the cost of cross - border activity . therefore the host member states should not be allowed to impose additional investment requirements on institutions located in other member states . if two conflicting requirements are imposed under member state rules , the disagreement should be resolved by the competent authorities .


### remuneration policies which encourage excessive risk - taking behaviour can undermine sound and effective risk management of institutions . principles and disclosure requirements for remuneration policies applicable to other types of financial institutions in the union should be made applicable also to institutions , bearing in mind , however , the particular governance structure of institutions in comparison to other types of financial institutions and the need to take account of the size , nature , scope and complexity of the activities of institutions . ### remuneration policies which encourage excessive risk - taking behaviour can undermine sound and effective risk management of institutions . principles and disclosure requirements for remuneration policies applicable to other types of financial institutions in the union should be made applicable also to institutions , bearing in mind , however , the particular governance structure of institutions in comparison to other financial institutions and the need to take account of the nature , scale and complexity of the activities of institutions .


### institutions should provide clear and adequate information to prospective members , members and beneficiaries to support their decision - making about their retirement and ensure a high level of transparency throughout the various phases of a scheme comprising pre - enrolment , membership and post - retirement . in particular , information concerning accrued pension entitlements , projected levels of retirement benefits , risks and guarantees , and costs should be given . where members bear an investment risk , additional information on the investment profile , any available options and past performance are also crucial . ### institutions should provide clear and adequate information to prospective members , members and beneficiaries to support their decision - making about their retirement and ensure a high level of transparency throughout the various phases of a scheme comprising pre - enrolment , membership and post - retirement . in particular , information concerning accrued pension entitlements , projected levels of retirement benefits , risks and guarantees , and costs should be given . where members bear an investment risk , additional information on the investment profile , any available options and past performance are also crucial . all information should be adequate to the needs of the user and in compliance with the united nations convention on the rights of persons with disabilities , in particular as regards accessibility and access to information , as provided for in articles 3 and 21 thereof respectively .


### institutions should provide clear and adequate information to prospective members , members and beneficiaries to support their decision - making about their retirement and ensure a high level of transparency throughout the various phases of a scheme comprising pre - enrolment , membership and post - retirement . in particular , information concerning accrued pension entitlements , projected levels of retirement benefits , risks and guarantees , and costs should be given . where members bear an investment risk , additional information on the investment profile , any available options and past performance are also crucial . ### institutions should provide clear and adequate information to prospective members , members and beneficiaries to support their decision - making about their retirement and ensure a high level of transparency throughout the various phases of a scheme comprising pre - enrolment , membership , periods out of work or periods where fewer hours were worked , and post - retirement . in particular , information concerning accrued pension entitlements or projected levels of retirement benefits , in comparison with other members and beneficiaries of the scheme , risks and guarantees , and costs should be given . where members bear an investment risk , additional information on the investment profile , any available options and past and predicted performance , risk profile and cost structure should be obligatory and provided in a clearly understandable form taking into account the different levels of financial literacy of the members of the scheme . clear and adequate information should not merely aim at the maximum amount of information but should also ensure that the information is adapted to the needs of the user , in accordance with the un convention on the rights of persons with disabilities , especially as regards accessibility and access to information , and taking into account the financial literacy of each individual . consumer information and consumer protection could be briefly summarised and rendered intelligible by means of voluntary codes of conduct and possibly by means of a compact , user - friendly union certification system .


### institutions should provide clear and adequate information to prospective members , members and beneficiaries to support their decision - making about their retirement and ensure a high level of transparency throughout the various phases of a scheme comprising pre - enrolment , membership and post - retirement . in particular , information concerning accrued pension entitlements , projected levels of retirement benefits , risks and guarantees , and costs should be given . where members bear an investment risk , additional information on the investment profile , any available options and past performance are also crucial . ### institutions should provide clear and adequate information to prospective members , members and beneficiaries to support their decision - making about their retirement and ensure a high level of transparency throughout the various phases of a scheme comprising pre - enrolment , membership and post - retirement . in particular , information concerning accrued pension entitlements , projected levels of retirement benefits , risks and guarantees , and costs should be given . where members bear an investment risk , additional information on the investment profile , any available options and past performance are also crucial . all information should be adequate to the needs of the user and in compliance with the un convention on the rights of persons with disabilities , in particular as regards accessibility and access to information , as provided for in articles 3 and 21 thereof respectively .


### in order to ensure the smooth functioning of the internal market for occupational retirement provision organised on a european scale , the commission should , after consulting eiopa , review and report on the application of this directive and should submit that report to the european parliament and to the council four years after the entry into force of this directive . that review should assess in particular the application of the rules regarding the calculation of the technical provisions , the funding of technical provisions , regulatory own funds , solvency margins , investment rules and any other aspect relating to the financial solvency situation of the insitution . ### in order to ensure the smooth functioning of the internal market for occupational retirement provision organised on a union scale , the commission should , after consulting eiopa , review and report on the application of this directive and should submit that report to the european parliament and to the council on . . . * [ six years after the entry into force of this directive ] .


### ‘ retirement benefits ' means benefits paid by reference to reaching , or the expectation of reaching , retirement or , where they are supplementary to those benefits and provided on an ancillary basis , in the form of payments on death , disability , or cessation of employment or in the form of support payments or services in case of sickness , indigence or death . in order to facilitate financial security in retirement , these benefits usually take the form of payments for life . they may , however , also be payments made for a temporary period or as a lump sum . ### ‘ retirement benefits ' means benefits paid by reference to reaching , or the expectation of reaching , retirement or , where they are supplementary to those benefits and provided on an ancillary basis , in the form of payments on death , disability , or cessation of employment or in the form of support payments or services in case of sickness , indigence or death , which may take the form of payments for life , for a temporary period , as a lump sum , or any combination thereof .


### ‘ retirement benefits’ means benefits paid by reference to reaching , or the expectation of reaching , retirement or , where they are supplementary to those benefits and provided on an ancillary basis , in the form of payments on death , disability , or cessation of employment or in the form of support payments or services in case of sickness , indigence or death . in order to facilitate financial security in retirement , these benefits usually take the form of payments for life . they may , however , also be payments made for a temporary period or as a lump sum . ### ‘ retirement benefits’ means benefits paid by reference to reaching , or the expectation of reaching , retirement or , where they are supplementary to those benefits and provided on an ancillary basis , in the form of payments on death , disability , or cessation of employment or in the form of support payments or services in case of sickness , indigence or death , or survivor´s benefits where they are attached to supplementary pension schemes . in order to facilitate financial security in retirement , these benefits usually take the form of payments for life . they may , however , also be payments made for a temporary period or as a lump sum .


### member states shall allow institutions authorised or registered in their territories to transfer all or a part of their pension schemes to receiving institutions authorised or registered in other member states . ### member states may allow institutions authorised or registered in their territories to transfer , fully or partly , a pension scheme ' s liabilities or technical provisions , as well as other obligations and rights and corresponding assets , or cash equivalent thereof , to receiving institutions authorised or registered in other member states , provided that , in the case of a transfer of part of the pension scheme , the viability of both the transferred and the remaining part of the pension scheme is ensured and the rights of members are adequately protected after the transfer .


### member states shall allow institutions authorised or registered in their territories to transfer all or a part of their pension schemes to receiving institutions authorised or registered in other member states . ### member states may allow institutions authorised or registered in their territories to transfer , fully or partly , a pension scheme ' s liabilities or technical provisions , as well as other obligations and rights and corresponding assets , or cash equivalent thereof , to receiving institutions authorised or registered in other member states , provided that , in the case of a transfer of part of the pension scheme , the viability of both the transferred and the remaining part of the pension scheme is ensured and the rights of&#160 ; members are adequately protected after the transfer . the receiving institution shall operate the pension scheme in accordance with the social and labour law of the host member state , thereby not changing the level of protection of the members and beneficiaries concerned by the transfer .


### unless national social and labour law on the organisation of pension systems provides otherwise , the transfer and its conditions shall be made subject to prior approval by the members and beneficiaries concerned or , where applicable , their representatives . in any event , information on the conditions of the transfer shall be made available to the members and beneficiaries concerned or , where applicable , their representatives at least four months before the application referred to in paragraph 2 is submitted . ### the transfer and its conditions shall be made subject to prior approval by a majority of the members and a majority of the beneficiaries concerned or , where applicable , by a majority of their representatives . the information on the conditions of the transfer shall be made available to the members and beneficiaries concerned or , where applicable , their representatives at least four months before the application referred to in paragraph 2 is submitted .


### unless national social and labour law on the organisation of pension systems provides otherwise , the transfer and its conditions shall be made subject to prior approval by the members and beneficiaries concerned or , where applicable , their representatives . in any event , information on the conditions of the transfer shall be made available to the members and beneficiaries concerned or , where applicable , their representatives at least four months before the application referred to in paragraph 2 is submitted . ### unless national social and labour law on the organisation of pension systems provides otherwise , the transfer and its conditions shall be made subject to prior approval by the members and beneficiaries concerned or , where applicable , their representatives or by the sponsoring undertaking in case it is partly or fully liable to ensure the pension benefits . in any event , information on the conditions of the transfer shall be made available to the members and beneficiaries concerned or , where applicable , their representatives at least four months before the application referred to in paragraph 2 is submitted .


### depending on the nature of the pension scheme established , member states shall ensure that every institution located in their territories provides&#160 ; prospective members , members and beneficiaries at least the information set out in&#160 ; articles 39 to 53 and articles 55 to 58 . ### depending on the nature of the pension scheme established , and after careful consideration of the administrative burden involved and of the benefits to be secured , member states shall ensure that every institution located in their territories provides&#160 ; prospective members , members and beneficiaries at least the information set out in&#160 ; articles 39 to 53 and articles 55 to 58 .


### depending on the nature of the pension scheme established , member states shall ensure that every institution located in their territories provides &#160 ; prospective members , members and beneficiaries&#160 ; at least the information set out in &#160 ; articles 39 to 53 and articles 55 to 58 . ### depending on the nature of the pension scheme established , each member state shall ensure that every institution located in their territories provides prospective members , members and beneficiaries with the relevant information , taking into consideration the different information needs of prospective members , member and beneficiaries , as set out in this chapter . the information referred to in the first subparagraph shall be adequate to the needs of the user , written in a clear and user - friendly manner and shall be regularly updated and be in compliance with the un convention on the rights of persons with disabilities , in particular as regards accessibility and access to information , as provided for in articles 3 and 21 thereof respectively ;


### member states shall , in respect of every institution located in their territories , ensure that members are sufficiently informed of the conditions of the pension scheme , in particular concerning : the rights and obligations of the parties involved in the pension scheme ; the financial , technical and other risks associated with the pension scheme ; the nature and distribution of those risks . ### depending on the nature of the pension scheme established member states shall , in respect of every institution located in their territories , ensure that members are sufficiently informed of the conditions of the pension scheme , in particular concerning : the rights and obligations of the parties involved in the pension scheme ; the financial risks associated with the pension scheme to the extent that they are relevant to the members and beneficiaries .


### [ replaces articles 40 - 54 of the commission proposal ] ### article 40 a pension benefit statement when laying down rules for the pension benefit statement , the competent authority of the member state shall require : the pension benefit statement to contain the key relevant information for members , taking into consideration the specific nature of national systems and of national social , labour and tax law ; the information in the pension benefit statement to be written in a clear manner and presented in a concise way that is easy to read ; institutions to be allowed to provide the pension benefit statement in a durable medium or by means of a website . a paper copy shall be delivered to the members and beneficiaries on request and free of charge , in addition to any electronic means . 2 . within the framework of this directive , key relevant information for members shall mean : personal details of the member , including a clear indication of the retirement age or the date when receiving retirement benefits ; identification of the institution and identification of the pension scheme of the member ; the exact date to which the information in the pension benefit statement refers ; where applicable , any information on full or partial guarantees under the pension scheme . where a guarantee is provided , the pension benefit statement shall briefly explain the nature of the guarantee and provide information on the current level of financing of the member´s accrued individual entitlements ; information on pension projections , taking into consideration the specific nature and organisation of the pension scheme . 3 . member states shall ensure that all supplementary relevant information shall be easily available and accessible in a user - friendly manner , upon request of the member . it can be provided in the pension benefit statement or made available by different means and may include the following : information on the balance , contributions and costs of the pension scheme , taking into consideration the specific nature and organisation of the pension scheme ; where relevant , taking into consideration the specific nature and organisation of the pension scheme , information on the investment profile ; where relevant , taking into consideration the specific nature and organisation of the pension scheme , information on past performance ; 4 . member states shall exchange best practices with regard to the format and the content of the pension benefit statement .


### [ replaces articles 55 - 58 of the commission proposal ] ### article 55a other information and documents to be provided the institution shall ensure that prospective members are informed about all the features of the scheme and any investment options including information on if and how environmental , climate , social and corporate governance issues are considered in the investment approach . where prospective members do not have a choice and are automatically enrolled in a pension scheme , they shall receive the key relevant information on their membership directly after enrolment . 2 . in addition to the pension benefit statement , institutions shall provide each member , at least two years before the retirement age provided for in the scheme , or at the request of the member , with the following information : balanced information about the options available to members in taking their retirement income ; where the pension scheme is not paid out as a lifetime annuity , balanced information about the benefit payment products available . institutions shall provide beneficiaries with information about the benefits due and the corresponding payment options . when a significant level of investment risk is borne by beneficiaries in the payout phase , member states shall ensure that beneficiaries receive appropriate information . 3 . on request of a member , a beneficiary or their representatives , the institution shall provide the following additional information : the annual accounts and the annual reports referred to in article 31 , or where an institution is responsible for more than one scheme , those accounts and reports relating to their particular pension scheme ; the statement of investment policy principles , referred to in article 32 information about the assumptions used to generate the projections referred to article 50 ; information about the assumed annuity rate , the type of provider and the duration of the annuity referred to in article 53 . on request from a member the institution shall also provide : the target level of the retirement benefits , if applicable ; the level of benefits in case of cessation of employment .


### member states shall ensure that institutions for occupational retirement provision are subject to prudential supervision including the supervision of the following : ### member states shall ensure that institutions are subject to prudential supervision including the supervision of the following :


### member states shall ensure that institutions for occupational retirement provision are subject to prudential supervision including the supervision of the following : ### without prejudice to national social and labour law , member states shall ensure that institutions for occupational retirement provision are subject to prudential supervision including the supervision of the following :


### four years after the entry into force of this directive , the commission shall review this directive and report on its implementation and effectiveness to the european parliament and the council . ### . . * [ six years after the entry into force of this directive ] , the commission shall review this directive and report on its implementation and effectiveness to the european parliament and to the council .


### in order to achieve smart , sustainable and inclusive growth and to stimulate job creation , the union needs an up - to - date , high - performance infrastructure to help connect and integrate the union and all its regions , in the transport , telecommunications and energy sectors . those connections should help to improve the free movement of persons , goods , capital and services . the trans - european networks should facilitate cross - border connections , foster greater economic , social and territorial cohesion and contribute to a more competitive social market economy and to combating climate change . ### in order to achieve smart , sustainable and inclusive growth and to stimulate job creation , the union needs an up - to - date , high - performance infrastructure to help connect and integrate the union and all its regions including remote , outermost , insular , peripheral and mountainous regions , in the transport , telecommunications and energy sectors . those connections should help to improve the free movement of persons , goods , capital and services . the trans - european networks should facilitate cross - border connections , foster greater economic , social and territorial cohesion and contribute to a more competitive social market economy and to combating climate change .


### in order to achieve smart , sustainable and inclusive growth and to stimulate job creation , the union needs an up - to - date , high - performance infrastructure to help connect and integrate the union and all its regions , in the transport , telecommunications and energy sectors . those connections should help to improve the free movement of persons , goods , capital and services . the trans - european networks should facilitate cross - border connections , foster greater economic , social and territorial cohesion and contribute to a more competitive social market economy and to combating climate change . ### in order to achieve smart , sustainable and inclusive growth and to stimulate job creation , the union needs an up - to - date , multimodal and high - performance infrastructure to help connect and integrate the union and all its regions , in the transport , telecommunications and energy sectors . those connections should help to improve the free movement of persons , goods , capital and services . the trans - european networks should facilitate cross - border connections , foster greater economic , social and territorial cohesion and contribute to a more competitive social market economy and to combating climate change and depopulation .


### the aim of the connecting europe facility is to accelerate investment in the field of trans - european networks and to leverage funding from both the public and the private sectors , while increasing legal certainty and respecting the principle of technological neutrality . the programme should enable synergies between the transport , energy and digital sectors to be harnessed to the full extent , thus enhancing the effectiveness of union action and enabling implementing costs to be optimised . ### the aim of the connecting europe facility is to focus and accelerate investment in the field of trans - european networks and to leverage funding from both the public and the private sectors , while increasing legal certainty and respecting the principle of technological neutrality . the programme should enable synergies between the transport , energy and digital sectors to be harnessed to the full extent , thus enhancing the effectiveness of union action and enabling implementing costs to be optimised .


### an important objective of this programme is to deliver increased synergies between the transport , energy and digital sector . for that purpose , the programme should provide for the adoption of cross - sectoral work programmes that could address specific intervention areas , for instance as regards connected and automated mobility or alternative fuels . in addition , the programme should allow , within each sector , the possibility to consider eligible some ancillary components pertaining to another sector , where such an approach improves the socio - economic benefit of the investment . synergies between sectors should be incentivized through the award criteria for the selection of actions . ### an important objective of this programme is to deliver increased synergies between the transport , energy and digital sector . for that purpose , the programme should provide for the adoption of cross - sectoral work programmes that could effectively and flexibly address specific intervention areas , for instance as regards connected and automated mobility or alternative fuels . in addition , the programme should allow , within each sector , the possibility to consider eligible some ancillary components pertaining to another sector , where such an approach improves the socio - economic benefit of the investment . synergies between sectors should be incentivized through the award criteria for the selection of actions . synergies between sectors should be incentivised through the award criteria for the selection of actions .


### in order to achieve the objectives laid down in the ten - t guidelines , it is necessary to support with priority the cross - border links and the missing links and to ensure , where applicable , that the supported actions are consistent with the corridor work plans established pursuant to article 47 of regulation no 1315 / 2013 and to the overall network development regarding performance and interoperability . ### in order to achieve the objectives laid down in the ten - t guidelines , it is necessary to support with priority the cross - border links and the missing links and to ensure , where applicable , that the supported actions are consistent with the corridor work plans established pursuant to article 47 of regulation no 1315 / 2013 , to the overall network development regarding performance and interoperability and enabling dual use of infrastructure by integrating the military mobility needs into the ten - t networks .


### in order to achieve the objectives laid down in the ten - t guidelines , it is necessary to support with priority the cross - border links and the missing links and to ensure , where applicable , that the supported actions are consistent with the corridor work plans established pursuant to article 47 of regulation no 1315 / 2013 and to the overall network development regarding performance and interoperability . ### in order to achieve the objectives laid down in the ten - t guidelines , it is necessary to support with priority the continuation of eu co - financing of ongoing ten - t projects as well as cross - border links , the missing links and urban nodes and to ensure , where applicable , that the supported actions are consistent with the corridor work plans established pursuant to article 47 of regulation no 1315 / 2013 and to the overall network development regarding performance and interoperability .


### in order to achieve the objectives laid down in the ten - t guidelines , it is necessary to support with priority the cross - border links and the missing links and to ensure , where applicable , that the supported actions are consistent with the corridor work plans established pursuant to article 47 of regulation no 1315 / 2013 and to the overall network development regarding performance and interoperability . ### in order to achieve the objectives laid down in the ten - t guidelines , it is necessary to support with priority the cross - border links and the missing links and to ensure , where applicable , that the supported actions are consistent with the indicative corridor work plans established pursuant to article 47 of regulation no 1315 / 2013 and to the overall network development regarding performance and interoperability .


### it is necessary to promote investments in favour of smart , sustainable , inclusive , safe and secure mobility throughout the union . in 2017 , the commission presented20 ' europe on the move ' , a wide - ranging set of initiatives to make traffic safer , encourage smart road charging , reduce co2 emissions , air pollution and congestion , promote connected and autonomous mobility and ensure proper conditions and rest times for workers . these initiatives should be accompanied by union financial support , where relevant through this programme . __________________ 20 commission communication ' europe on the move : an agenda for a socially fair transition towards clean , competitive and connected mobility for all ' – com 283 . ### it is necessary to promote investments in favour of smart , interoperable , sustainable , multimodal inclusive , safe and secure mobility throughout the union . in 2017 , the commission presented20 ' europe on the move ' , a wide - ranging set of initiatives to make traffic safer , encourage smart road charging , reduce co2 emissions , air pollution and congestion , promote connected and autonomous mobility and ensure proper conditions and rest times for workers . these initiatives should be accompanied by union financial support , where relevant through this programme , for example to accelerate the implementation and retrofitting of the smart tachograph . __________________ 20 commission communication ' europe on the move : an agenda for a socially fair transition towards clean , competitive and connected mobility for all ' – com 283 .


### it is necessary to promote investments in favour of smart , sustainable , inclusive , safe and secure mobility throughout the union . in 2017 , the commission presented ' europe on the move ' 20 , a wide - ranging set of initiatives to make traffic safer , encourage smart road charging , reduce co2 emissions , air pollution and congestion , promote connected and autonomous mobility and ensure proper conditions and rest times for workers . these initiatives should be accompanied by union financial support , where relevant through this programme . __________________ 20 an agenda for a socially fair transition towards clean , competitive and connected mobility for all ' – com 283 ### it is necessary to promote investments in favour of smart , sustainable , inclusive , safe and secure mobility throughout the union . in 2017 , the commission presented ' europe on the move ' 20 , a wide - ranging set of initiatives to make traffic safer , encourage smart road charging , reduce co2 emissions , air pollution and congestion , promote connected and autonomous mobility and ensure proper conditions and rest times for workers . the development of the necessary digital infrastructure should also receive financial support through this programme . __________________ 20 an agenda for a socially fair transition towards clean , competitive and connected mobility for all ' – com 283


### it is necessary to promote investments in favour of smart , sustainable , inclusive , safe and secure mobility throughout the union . in 2017 , the commission presented20 ' europe on the move ' , a wide - ranging set of initiatives to make traffic safer , encourage smart road charging , reduce co2 emissions , air pollution and congestion , promote connected and autonomous mobility and ensure proper conditions and rest times for workers . these initiatives should be accompanied by union financial support , where relevant through this programme . _________________ 20 commission communication ' europe on the move : an agenda for a socially fair transition towards clean , competitive and connected mobility for all ' – com 283 ### it is necessary to promote investments in favour of smart , balanced , sustainable , inclusive , safe and secure mobility adapted to local and regional development needs throughout the union . in 2017 , the commission presented20 ' europe on the move ' , a wide - ranging set of initiatives to make traffic safer , encourage smart road charging , reduce co2 emissions , air pollution and congestion , promote connected and autonomous mobility and ensure proper conditions and rest times for workers . these initiatives should be accompanied by union financial support , where relevant through this programme . _________________ 20 commission communication ' europe on the move : an agenda for a socially fair transition towards clean , competitive and connected mobility for all ' – com 283


### the achievement of the digital single market relies on the underlying digital connectivity infrastructure . the digitalisation of european industry and the modernisation of sectors like transport , energy , healthcare and public administration depend on universal access to reliable , affordable , high and very high capacity networks . digital connectivity has become one of the decisive factors to close economic , social and territorial divides , supporting the modernisation of local economies and underpinning the diversification of economic activities . the scope of intervention of the programme in the area of digital connectivity infrastructure should be adjusted to reflect its increasing importance for the economy and the society at large . therefore , it is necessary to set out the digital connectivity infrastructure projects of common interest needed to meet union ' s digital single market objectives , and to repeal regulation no 283 / 2014 of the european parliament and of the council14 . __________________ 14 regulation no 283 / 2014 of the european parliament and of the council of 11 march 2014 on guidelines for trans - european networks in the area of telecommunications infrastructure and repealing decision no 1336 / 97 / ec . ### the achievement of the digital single market relies on the underlying digital connectivity infrastructure . the digitalisation of european industry and the modernisation of sectors such as transport , energy , healthcare , security , defence and public administration depend on universal access to reliable , affordable , resilient , high and very high capacity networks . digital connectivity has become one of the decisive factors to close economic , social and territorial divides , supporting the modernisation of local economies and underpinning the diversification of economic activities . the scope of intervention of the programme in the area of digital connectivity infrastructure should be adjusted to reflect its increasing importance for the economy and the society at large . this can only be achieved considering that key aspects of the digital domain , such as privacy and cyber security , play an enabling role in such domain . therefore , it is necessary to set out the digital connectivity infrastructure projects of common interest needed to meet union ' s digital single market objectives , and to repeal regulation no 283 / 2014 of the european parliament and of the council14 . __________________ 14 regulation no 283 / 2014 of the european parliament and of the council of 11 march 2014 on guidelines for trans - european networks in the area of telecommunications infrastructure and repealing decision no 1336 / 97 / ec .


### the achievement of the digital single market relies on the underlying digital connectivity infrastructure . the digitalisation of european industry and the modernisation of sectors like transport , energy , healthcare and public administration depend on universal access to reliable , affordable , high and very high capacity networks . digital connectivity has become one of the decisive factors to close economic , social and territorial divides , supporting the modernisation of local economies and underpinning the diversification of economic activities . the scope of intervention of the programme in the area of digital connectivity infrastructure should be adjusted to reflect its increasing importance for the economy and the society at large . therefore , it is necessary to set out the digital connectivity infrastructure projects of common interest needed to meet union ' s digital single market objectives , and to repeal regulation no 283 / 2014 of the european parliament and of the council29 . __________________ 29 regulation no 283 / 2014 of the european parliament and of the council of 11 march 2014 on guidelines for trans - european networks in the area of telecommunications infrastructure and repealing decision no 1336 / 97 / ec . ### the achievement of the digital single market relies on the underlying digital connectivity infrastructure . the digitalisation of european industry and the modernisation of sectors like transport , energy , healthcare and public administration depend on universal access to reliable , affordable , high and very high capacity networks . digital connectivity has become one of the decisive factors to close economic , social and territorial divides , supporting the modernisation of local economies combating depopulation and underpinning the diversification of economic activities . the scope of intervention of the programme in the area of digital connectivity infrastructure should be adjusted to reflect its increasing importance for the economy and the society at large . therefore , it is necessary to set out the digital connectivity infrastructure projects of common interest needed to meet union ' s digital single market objectives , and to repeal regulation no 283 / 2014 of the european parliament and of the council29 . __________________ 29 regulation no 283 / 2014 of the european parliament and of the council of 11 march 2014 on guidelines for trans - european networks in the area of telecommunications infrastructure and repealing decision no 1336 / 97 / ec .


### in order to favour an integrated development of the innovation cycle , it is necessary to ensure complementarity between the innovative solutions developed in the context of the union research and innovation framework programmes and the innovative solutions deployed with support from the connecting europe facility . for this purpose , synergies with horizon europe will ensure that : research and innovation needs in the areas of transport , energy and in the digital sector within the eu are identified and established during horizon europe’s strategic planning process ; the connecting europe facility supports large - scale roll - out and deployment of innovative technologies and solutions in the fields of transport , energy and digital infrastructure , in particular those resulting from horizon europe ; the exchange of information and data between horizon europe and the connecting europe facility will be facilitated , for example by highlighting technologies from horizon europe with a high market readiness that could be further deployed through the connecting europe facility . ### in order to favour an integrated development of the innovation cycle , it is necessary to ensure complementarity between the innovative solutions developed in the context of the union research and innovation framework programmes and the innovative solutions deployed with support from the connecting europe facility . for this purpose , synergies with horizon europe will ensure that : a ) research and innovation needs in the areas of transport , energy and in the digital sector within the eu are identified and established during horizon europe’s strategic planning process ; b ) the connecting europe facility cooperates closely with horizon europe for the large - scale roll - out and deployment of innovative technologies and solutions in the fields of transport , energy and digital infrastructure , in particular those resulting from horizon europe ; the exchange of information and data between horizon europe and the connecting europe facility will be facilitated , for example by highlighting technologies from horizon europe with a high market readiness that could be further deployed through the connecting europe facility .


### actions implementing the core network in accordance with chapter iii of regulation no 1315 / 2013 , including actions relating to urban nodes , maritime ports , inland ports and rail - road terminals of the core network as defined at annex ii to regulation no 1315 / 2013 . actions implementing the core network may include related elements located on the comprehensive network when necessary to optimize the investment and according to modalities specified in the work programmes referred to in article 19 of this regulation ; ### actions implementing the core network in accordance with chapter iii of regulation no 1315 / 2013 , including actions relating to urban nodes , airports , maritime ports , inland water ways navigability , inland ports and rail - road terminals of the core network as defined at annex ii to regulation no 1315 / 2013 , mainly actions listed in part iii , heading 1 of the annex to this regulation . actions implementing the core network may include related elements located on the comprehensive network when necessary to optimize the investment and according to modalities specified in the work programmes referred to in article19 of this regulation . actions implementing the railway core network may include procurement rolling stock to provide a minimum level service at the railway new performances level . actions implementing inland water ways projects shall be included in a dedicated work programme ;


### actions implementing cross - border links of the comprehensive network in accordance with chapter ii of regulation no 1315 / 2013 , notably the sections listed in part iii of the annex to this regulation ; ### actions implementing cross - border links of the comprehensive network in accordance with chapter ii of regulation no 1315 / 2013 , notably the sections listed in parts ii and iii of the annex to this regulation ;


### for works relating to the specific objectives referred to in article 3 , the amount of union financial assistance shall not exceed 30 % of the total eligible cost . the co - financing rates may be increased to a maximum of 50 % for actions relating to cross - border links under the conditions specified in point of this paragraph , for actions supporting telematic applications systems , for actions supporting new technologies and innovation , for actions supporting improvements of infrastructure safety in line with relevant union legislation and for actions located in outermost regions ; ### for works relating to the specific objectives referred to in article 3 , the amount of union financial assistance shall not exceed 30 % of the total eligible cost . the co - financing rates may be increased to a maximum of 50 % for actions relating to cross - border links under the conditions specified in point of this paragraph , for actions supporting telematic applications systems , for actions supporting inland waterways , for actions supporting new technologies and innovation , for actions supporting improvements of infrastructure safety in line with relevant union legislation and for actions located in outermost regions ;


### member states shall take the necessary measures to ensure that market surveillance authorities may , where they consider it necessary and justified , be entitled to enter the premises of economic operators and seize the necessary samples of vehicles , systems , components and separate technical units for the purposes of compliance testing . ### member states shall take the necessary measures to ensure that market surveillance authorities may , where they consider it necessary and justified , enter the premises of economic operators and seize the necessary samples of vehicles , systems , components and separate technical units for the purposes of compliance testing . samples seized for testing shall be paid for by the market surveillance authorities at the market rate by the payment of either the purchase price or rental thereof , depending on the intended use to which the samples in question are to be put .


### manufacturers holding type - approvals or the economic operators shall , upon request , supply to the commission a statistically relevant number of production vehicles , systems , components and separate technical units selected by the commission that are representative for the vehicles , systems , components and separate technical units available for placing on the market under that type - approval . those vehicles , systems , components and separate technical units shall be supplied for testing at the time and place and for the period the commission may require . ### manufacturers holding type - approvals or the economic operators shall , upon request , supply to the commission a statistically relevant number of production vehicles , systems , components and separate technical units selected by the commission that are representative for the vehicles , systems , components and separate technical units available for placing on the market under the type - approval concerned . those vehicles , systems , components and separate technical units shall be supplied for testing at the time and place and for the period the commission may require . samples of vehicles , systems , components and separate technical units supplied for testing shall be paid for by the commission at the market rate by the payment of either the purchase price or rental thereof , depending on the intended use to which the samples in question are to be put .


### vehicle manufacturers shall make public data which are needed for the purpose of compliance verification testing by third parties . the commission shall adopt implementing acts in order to define the data to be made public and the conditions for such publication , subject to the protection of commercial secrets and the preservation of personal data pursuant to union and national legislation . those implementing acts shall be adopted in accordance with the examination procedure referred to in article 87 . ### vehicle manufacturers shall make available data which are needed for the purpose of compliance verification testing by market surveillance authorities and the commission . the commission shall adopt implementing acts in order to define the data to be made available and the conditions for doing so , subject to the protection of commercial secrets and the preservation of personal data pursuant to union and national legislation . those implementing acts shall be adopted in accordance with the examination procedure referred to in article 87 .


### termination of validity ### periodic audits and termination of validity


### type - approvals for vehicles , systems , components and separate technical units shall be issued for a limited period of 5 years without the possibility of prolongation . the expiry date shall be indicated in the type - approval certificate . after the expiry of the type - approval certificate , it may be renewed upon application by the manufacturer and only where the approval authority has verified that the type of vehicle , system , component and separate technical unit complies with all the requirements of the relevant regulatory acts for new vehicles , systems , components and separate technical units of that type . ### type - approvals for vehicles shall be audited after a period of five years following their first approval or last audit . the audit shall be performed by a type - approval authority different from the one which issued the approval . the audit of the type - approval certificate shall involve verification by the approval authority that the type of vehicle complies with all the requirements of the relevant regulatory acts applied for all new vehicles of that type at that time .


### an eu type - approval of a vehicle shall become invalid before its expiry date in any of the following cases : ### an eu type - approval of a vehicle shall become invalid in any of the following cases :


### upon reception of the notification made by the manufacturer , the approval authority that granted the eu type - approval shall communicate without delay to the approval authorities of the other member states and the commission all relevant information for the making available on the market , registering or entering into service of vehicles , where appropriate . ### the approval authority that granted or audited the eu type - approval shall communicate without delay to the approval authorities of the other member states and the commission all relevant information for the making available on the market , registering or entering into service of vehicles , where appropriate .


### where vehicles , systems , components or separate technical units accompanied by a certificate of conformity or bearing an approval mark do not conform to the approved type , or are not in conformity with this regulation or were approved on the basis of incorrect data , the approval authorities , market surveillance authorities or the commission may take the necessary restrictive measures in accordance with article 21 of regulation no 765 / 2008 , to prohibit or restrict the making available on the market , registration or entry into service on the market of non - compliant vehicles , systems , components or separate technical units , or to withdraw them from that market or to recall them , including the withdrawal of the type - approval by the approval authority that granted the eu type - approval , until the relevant economic operator has taken all appropriate corrective measures to ensure that vehicles , systems , components or separate technical units are brought into conformity . ### where vehicles , systems , components or separate technical units accompanied by a certificate of conformity or bearing an approval mark do not conform to the approved type , or are not in conformity with this regulation or were approved on the basis of incorrect data , the approval authorities , market surveillance authorities or the commission shall take the necessary restrictive measures in accordance with article 21 of regulation no 765 / 2008 , to prohibit or restrict the making available on the market , registration or entry into service on the market of non - compliant vehicles , systems , components or separate technical units , or to withdraw them from that market or to recall them , including the withdrawal of the type - approval by the approval authority that granted the eu type - approval , until the relevant economic operator has taken all appropriate corrective measures to ensure that the vehicles , systems , components or separate technical units concerned are brought into conformity .


### an approval authority may at any time , whether on its own initiative , on the basis of a complaint , or on the basis of an assessment by a technical service , check the compliance of a manufacturer with articles 65 to 70 , and with the terms of the certificate on access to vehicle obd and vehicle repair and maintenance information laid down in appendix 1 of annex xviii . ### the approval authority may at any time , whether on its own initiative , on the basis of a complaint , or on the basis of an assessment by a technical service , check the compliance of a manufacturer with articles 65 to 70 , and with the terms of the certificate on access to vehicle obd and vehicle repair and maintenance information laid down in appendix 1 of annex xviii .


### a technical service shall be capable of carrying out all the activities for which it is applying to be designated in accordance with article 72 . it shall demonstrate to the type approval authority that it has all of the following : ### a technical service shall be capable of carrying out all the activities for which it is applying to be designated in accordance with article 72 . it shall demonstrate to the type approval authority , or , in the case of accreditation , to the national accreditation body , that it has all of the following :


### technical services may subcontract , with the agreement of their designating type - approval authority , some of the categories of activities for which they have been designated in accordance with article 72 , or have those activities carried out by a subsidiary . ### technical services may , with the agreement of their designating type - approval authority , or , in the case of accreditation , of the national accreditation body , subcontract some of the categories of activities for which they have been designated in accordance with article 72 , or have those activities carried out by a subsidiary .


### where a technical service subcontracts specific tasks from the categories of activities for which it has been designated or has recourse to a subsidiary to perform those tasks , it shall ensure that the subcontractor or the subsidiary complies with the requirements set out in articles 73 and 74 and it shall inform the type - approval authority thereof . ### where a technical service subcontracts specific tasks from the categories of activities for which it has been designated or has recourse to a subsidiary to perform those tasks , it shall ensure that the subcontractor or the subsidiary complies with the requirements set out in articles 73 and 74 and shall inform the type - approval authority , or , in the case of accreditation , the national accreditation body , thereof .


### technical services shall keep at the disposal of the type - approval authority the relevant documents concerning the assessment of the qualifications of the subcontractor or the subsidiary and the tasks performed by them . ### technical services shall keep at the disposal of the type - approval authority , or , in the case of accreditation , of the national accreditation body , the relevant documents concerning the assessment of the qualifications of the subcontractor or the subsidiary and the tasks performed by them .


### before designating a technical service , the type - approval authority shall assess it in accordance with an assessment check - list that covers at least the requirements listed in appendix 2 of annex v . the assessment shall include an on - site assessment of the premises of the applying technical service , and , where relevant , of any subsidiary or sub - contractor , located inside or outside the union . ### before designating a technical service , the type - approval authority , or , in the case of accreditation , the national accreditation body , shall assess it in accordance with an assessment check - list that covers at least the requirements listed in appendix 2 of annex v . the assessment shall include an on - site assessment of the premises of the applicant technical service , and , where relevant , of any subsidiary or sub - contractor , located inside or outside the union .


### representatives of the type - approval authorities of at least two other member states shall , in coordination with the type - approval authority of the member state in which the applicant technical service is established , and together with a representative of the commission , form a joint assessment team and participate in the assessment of the applicant technical service , including the on - site assessment . the designating type - approval authority of the member state where the applicant technical service is established shall give those representatives timely access to the documents necessary to assess the applicant technical service . ### representatives of the type - approval authorities of at least two other member states competent to assess technical services shall , in coordination with the type - approval authority , or , in the case of accreditation , the national accreditation body , of the member state in which the applicant technical service is established , and together with a representative of the commission , form a joint assessment team and participate in the assessment of the applicant technical service , including the on - site assessment . the designating type - approval authority , or , in the case of accreditation , the national accreditation body , of the member state where the applicant technical service is established shall give those representatives timely access to the documents necessary to assess the applicant technical service .


### the type - approval authority shall continuously monitor the technical services to ensure compliance with the requirements set out in articles 72 to 76 , in articles 84 and 85 and in appendix 2 to annex v . ### the type - approval authority , or , in the case of accreditation , the national accreditation body , shall continuously monitor the technical services to ensure compliance with the requirements set out in articles 72 to 76 , in articles 84 and 85 and in appendix 2 to annex v .


### technical services shall , on request , supply all relevant information and documents , required to enable that type - approval authority to verify compliance with those requirements . ### technical services shall , on request , supply all relevant information and documents , required to enable that type - approval authority , or , in the case of accreditation , the national accreditation body , to verify compliance with those requirements .


### technical services shall , without delay , inform the type - approval authority of any changes , in particular regarding their personnel , facilities , subsidiaries or subcontractors , which may affect compliance with the requirements set out in articles 72 to 76 , in articles 84 and 85 and in appendix 2 to annex v , or their ability to perform the conformity assessment tasks relating to the vehicles , systems , components and separate technical units for which they have been designated . ### technical services shall , without delay , inform the type - approval authority , or , in the case of accreditation , the national accreditation body , of any changes , in particular regarding their personnel , facilities , subsidiaries or subcontractors , which may affect compliance with the requirements set out in articles 72 to 76 , in articles 84 and 85 and in appendix 2 to annex v , or their ability to perform the conformity assessment tasks relating to the vehicles , systems , components and separate technical units for which they have been designated .


### at union level , the european semester of economic policy coordination is the framework to identify national reform priorities and monitor their implementation . member states develop their own national multiannual investment strategies in support of those reform priorities . the strategies should be presented alongside the yearly national reform programmes as a way to outline and coordinate priority investment projects to be supported by national or union funding , or by both . they should also serve to use union funding in a coherent manner and to maximise the added value of the financial support to be received notably from the european structural and investment funds , the european investment stabilisation function and the investeu fund , where relevant . ### at union level , the european semester of economic policy coordination is the framework to identify national reform priorities and monitor their implementation . member states , in cooperation with local and regional authorities , develop their own national multiannual investment strategies in support of those reform priorities . the strategies should be presented alongside the yearly national reform programmes as a way to outline and coordinate priority investment projects to be supported by national or union funding , or by both . they should also serve to use union funding in a coherent manner and to maximise the added value of the financial support to be received notably from the european structural and investment funds , the european investment stabilisation function and the investeu fund , where relevant .


### low infrastructure investment rates in the union during the financial crisis undermined the union’s ability to boost sustainable growth , competitiveness and convergence . sizeable investments in the european infrastructure are fundamental to meet the union’s sustainability targets , including the 2030 energy and climate targets . accordingly , support from the investeu fund should target investments into transport , energy , including energy efficiency and renewable energy , environmental , climate action , maritime and digital infrastructure . to maximise the impact and the value added of union financing support , it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant union programmes . bearing in mind security threats , investment projects receiving union support should take into account principles for the protection of citizens in public spaces . this should be complementary to the efforts made by other union funds such as the european regional development fund providing support for security components of investments in public spaces , transport , energy and other critical infrastructure . ### low infrastructure investment rates in the union during the financial crisis undermined the union’s ability to boost sustainable growth , competitiveness and convergence and reduce regional disparities . sizeable investments in the european infrastructure are fundamental to meet the union’s sustainability targets , including the 2030 energy and climate targets . accordingly , support from the investeu fund should target investments into transport , energy , including energy efficiency and renewable energy , environmental , climate action , maritime and digital infrastructure . to maximise the impact and the value added of union financing support , it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant union programmes . bearing in mind security threats , investment projects receiving union support should take into account principles for the protection of citizens in public spaces . this should be complementary to the efforts made by other union funds such as the european regional development fund providing support for security components of investments in public spaces , transport , energy and other critical infrastructure .


### whereas the level of overall investment in the union is increasing , investment in higher - risk activities such as research and innovation is still inadequate . the resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the union and the quality of life of its citizens . the investeu fund should provide the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders , in particular to allow the upscaling of and deployment of solutions at a commercial scale in the union , in order to make such solutions competitive on world markets . ### whereas the level of overall investment in the union is increasing , investment in higher - risk activities such as research and innovation is still inadequate . the resulting underinvestment in research and innovation is damaging to the industrial and economic competitiveness of the union and the quality of life of its citizens . the investeu fund should provide the appropriate financial products to cover different stages in the innovation cycle and a wide range of stakeholders and support for innovation clusters , in particular to allow the upscaling of and deployment of solutions at a commercial scale in the union , in order to make such solutions competitive on world markets .


### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart’s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund’s eu compartment . in addition to the eib group , national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners . ### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart’s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . investment through the investeu fund should not deepen regional development disparities . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund’s eu compartment . in addition to the eib group , national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners .


### in the context of the investeu fund , there is a need for capacity building support to develop the organisational capacities and market making activities needed to originate quality projects . moreover , the aim is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments , in particular where the small size of individual projects raises considerably the transaction cost at the project level , such as for the social finance ecosystem . the capacity building support should therefore be complementary and additional to actions undertaken under other union programmes that cover a specific policy area . ### in the context of the investeu fund , there is a need for capacity building support to develop the organisational capacities and market making activities needed to originate quality projects . moreover , the aim is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments and develop programmes to prepare them , in particular where the small size of individual projects raises considerably the transaction cost at the project level , such as for the social finance ecosystem . the capacity building support should therefore be complementary and additional to actions undertaken under other union programmes that cover a specific policy area .


### the eu guarantee shall be implemented in indirect management with bodies referred to in [ article 62 to ] of the [ financial regulation ] . other forms of eu funding under this regulation shall be implemented in direct or indirect management in accordance with the [ financial regulation ] , including grants implemented in accordance with its [ title viii ] . ### the eu guarantee under the investeu shall be managed by the european investment bank in indirect management and shall be implemented by implementing partners in accordance with this regulation . other forms of eu funding under this regulation shall be implemented in direct or indirect management in accordance with the [ financial regulation ] , including grants implemented in accordance with its [ title viii ] .


### research , innovation and digitisation policy window : comprises research and innovation activities , transfer of research results to the market , demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than smes as well as digitisation of union industry ; ### research , innovation and digitisation policy window : comprises research and innovation activities , knowledge transfer and transfer of research results to the market , demonstration and deployment of innovative solutions and support to scaling up of innovative companies other than smes as well as digitisation of union industry ;


### social investment and skills policy window : comprises microfinance , social enterprise finance and social economy ; skills , education , training and related services ; social infrastructure ; social innovation ; health and long - term care ; inclusion and accessibility ; cultural activities with a social goal ; integration of vulnerable people , including third country nationals . ### social investment and skills policy window : comprises microfinance , social enterprise finance and social economy ; skills , education , training and related services ; social infrastructure ; social innovation ; health and long - term care for active ageing ; inclusion and accessibility ; cultural activities with a social goal ; integration of vulnerable people , including third country nationals .


### four members shall be permanent members of all four configurations of the investment committee . in addition , the four configurations shall each have two experts with experience in investment in sectors covered by that policy window . at least one of the permanent members shall have expertise in sustainable investment . the commission shall assign the investment committee members to its appropriate configuration or configurations . the investment committee shall elect a chairperson from among its permanent members . ### four members shall be permanent members of all four configurations of the investment committee . in addition , the four configurations shall each have two experts with experience in investment in sectors covered by that policy window . at least one of the permanent members shall have expertise in sustainable investment . the commission shall assign the investment committee members to its appropriate configuration or configurations . the investment committee shall elect a chairperson from among its permanent members . where involved , implementing partners should participate in the investment committee .


### the commission shall adopt the rules of procedure and manage the secretariat for the investment committee . ### the european investment bank shall adopt the rules of procedure and provide the secretariat for the investment committee .


### the investeu advisory hub shall provide advisory support for the identification , preparation , development , structuring , procuring and implementation of investment projects , or enhance the capacity of promoters and financial intermediaries to implement financing and investment operations . its support may cover any stage of the life - cycle of a project or financing of a supported entity , as appropriate . ### the investeu advisory hub shall be managed by the european investment bank and will build on the expertise of the commission , the eib group and other institutions , such as npbis , and shall provide advisory support for the identification , preparation , development , structuring , procuring and implementation of investment projects , or enhance the capacity of promoters and financial intermediaries to implement financing and investment operations . its support may cover any stage of the life - cycle of a project or financing of a supported entity , as appropriate .


### in order to provide minimum harmonised standards for the certification of qualifications and to facilitate the exchange of information between member states and the implementation , monitoring and evaluation of this directive by the commission , 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 as regards the setting of standards of competence , standards for medical fitness , standards for practical examinations , standards for the approval of simulators and standards defining the characteristics and conditions of use for a database kept by the commission to host a copy of key data related to union certificates of qualifications , service record books , logbooks and recognised documents . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level . 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 . ### in order to provide minimum harmonised standards for the certification of qualifications and to facilitate the exchange of information between member states and the implementation , monitoring and evaluation of this directive by the commission , 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 as regards the setting of standards of competence , standards for medical fitness , standards for practical examinations , standards for the approval of simulators and standards defining the characteristics and conditions of use for a database kept by the commission to host a copy of key data related to union certificates of qualifications , service record books , logbooks and recognised documents . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level , and that those consultations be conducted in accordance with the principles laid down in the interinstitutional agreement on better law - making of 13 april 2016 . in particular , to ensure equal participation in the preparation of delegated acts , the european parliament and the council receive all documents at the same time as member states’ experts , and their experts systematically have access to meetings of commission expert groups dealing with the preparation of delegated acts .


### this directive does not apply to persons involved in the operation of : ### this directive does not apply to persons :


### recreational craft ; ### navigating for sport or pleasure ;


### ferries not moving independently . ### involved in the operation of ferries not moving independently ;


### training programmes leading to diplomas or certificates demonstrating compliance with the standards of competence referred to in article 15 shall be approved by the competent authorities of the member states in whose territory the relevant education or training institute is established . ### member states may establish training programmes for persons referred to in articles 4 , 5 and 6 . member states shall ensure that such training programmes leading to diplomas or certificates demonstrating compliance with the standards of competence referred to in article 15 be approved by the competent authorities of the member states in whose territory the relevant education or training institute conducts its training programmes .


### when applying this paragraph , the member states shall apply objective , transparent , non - discriminatory and proportionate criteria . ### when applying this paragraph , the member states shall apply objective , transparent , non - discriminatory and proportionate criteria , taking into account the principles of equal opportunity and gender equality .


### member states shall bring into force the laws , regulations and administrative provisions necessary to comply with this directive by [ 3 years after the entry into force ] at the latest . they shall forthwith communicate to the commission the text of those provisions . ### member states shall bring into force the laws , regulations and administrative provisions necessary to comply with this directive by [ 3 years after the entry into force ] at the latest . they shall forthwith communicate to the commission the substance and nature of those provisions .


### the guarantee fund is endowed by one annual payment from the general budget of the union , by interest on guarantee fund resources invested and by amounts recovered from defaulting debtors . ### the guarantee fund is endowed by one annual payment from the general budget of the union , which cannot go to the detriment of existing activities under heading iv , by interest on guarantee fund resources invested and by amounts recovered from defaulting debtors .


### the financial management of the guarantee fund should be transferred from the eib to the commission , which has an established practice of managing similar investments . by taking over the asset management of the guarantee fund , the commission should be able to streamline and consolidate its asset management activities , building on existing structures and a good track record . ### the possibility of transferring the financial management of the guarantee fund from the eib to the commission should be evaluated in terms of associated costs and benefits in order to ensure maximum efficiency of the use of union financial resources in view of the post - 2020 multiannual financial framework .


### the financial management of the guarantee fund should be transferred from the eib to the commission , which has an established practice of managing similar investments . by taking over the asset management of the guarantee fund , the commission should be able to streamline and consolidate its asset management activities , building on existing structures and a good track record . ### the financial management of the guarantee fund should be transferred from the eib to the commission , which has an established practice of managing similar investments . by taking over the asset management of the guarantee fund , the commission should be able to further streamline and consolidate its asset management activities as well as to coordinate all external financing aspects of the european agenda on migration , building on existing structures and further strengthening its track record . the transfer of management should lead to cost savings for the union budget and better and more accurate information about the management and situation of the guarantee fund provided by the commission to the european parliament .


### ' governance systems ' means the governance bodies referred to in chapter ii of title ii of this regulation and the basic union requirements laid down in this regulation and regulation … / … [ cap strategic plan regulation ] , including the reporting system put in place for the purposes of the annual performance report referred to in article 121 of regulation … / … [ cap strategic plan regulation ] ; ### ' governance systems ' means the governance bodies referred to in chapter ii of title ii of this regulation and the basic union requirements laid down in this regulation and regulation … / … [ cap strategic plan regulation ] , including member states obligations with regard to the effective protection of the financial interests of the union referred to in article 57 of this regulation and the reporting system put in place for the purposes of the annual performance report referred to in article 121 of regulation … / … [ cap strategic plan regulation ] ;


### the expenditure for the measures laid down in regulation no 1308 / 2013 for which reimbursement has been requested from the commission is legal and regular . ; ### the expenditure for which reimbursement has been requested from the commission , and in particular for the measures laid down in regulation n ) 1308 / 2013 , is legal and regular . ;


### the expenditure for the measures laid down in regulation no 1308 / 2013 for which reimbursement has been requested from the commission is legal and regular . ; ### the expenditure for the measures laid down in regulation no 1308 / 2013 for which reimbursement has been requested from the commission for the measures laid down in regulation no 1308 / 2013 , regulation no 228 / 2013 , regulation no 229 / 2013 and regulation 1144 / 2014 is legal and regular ;


### the expenditure referred to in article 5 and article 6 may be financed by the union only if : ### the expenditure referred to in article 5 and article 6 may be financed by the union only if it has been effected by accredited paying agencies and :


### it has been effected in accordance with the applicable governance systems , not extending to the eligibility conditions for individual beneficiaries laid down in the national cap strategic plans . ### it has been effected in accordance with the applicable governance systems , extending to the eligibility conditions for individual beneficiaries laid down in the national cap strategic plans .


### in case of serious deficiencies in the functioning of the governance systems , the commission may ask the member state concerned to implement the necessary remedial actions in accordance with an action plan with clear progress indicators , to be established in consultation with the commission . ### in case of serious deficiencies in the functioning of the governance systems , the commission shall , where necessary , ask the member state concerned to implement the necessary remedial actions in accordance with an action plan with clear progress indicators , to be established in consultation with the commission .


### for the purposes of article 127 of the financial regulation , the commission shall take assurance from the work of the certification bodies referred to in article 11 of this regulation , unless it has informed the member state that it cannot rely on the work of the certification body for a given financial year , and it shall take it into account in its risk assessment of the need for commission audits in the member state concerned . ### for the purposes of article 127 of the financial regulation , assurance shall be taken by the commission from the work of the certification bodies referred to in article 11 of this regulation , unless it has informed the member state that it cannot rely on the work of the certification body for a given financial year , and it shall take it into account in its risk assessment of the need for commission audits in the member state concerned .


### member states shall take appropriate precautions ensuring the the penalties applied as referred to in point of paragraph 1 are proportionate and graduated according to the severity , extent , duration and reoccurrence of the non - compliance found . ### member states shall take appropriate precautions ensuring the penalties applied as referred to in point of paragraph 1 are proportionate and graduated according to the severity , extent , duration and reoccurrence of the non - compliance found .


### checks of operations receiving aid from financial instruments as referred to in [ cpr article 52 ] of regulation … / … shall be carried out only at the level of the bodies implementing financial instruments . ### checks of operations receiving aid from financial instruments as referred to in [ cpr article 52 ] of regulation … / … shall be carried out at the level of the bodies implementing financial instruments .


### checks shall not be carried out at the level of the eib or other international financial institutions in which a member state is a shareholder . ### checks may also be carried out at the level of the eib or other international financial institutions in which a member state is a shareholder .


### without prejudice to the responsibilities of the member states for the implementation and application of the integrated system , the commission may seek the assistance of specialised bodies or persons in order to facilitate the establishment , monitoring and operation of the integrated system , in particular , with a view to providing the competent authorities of the member states with technical advice . ### without prejudice to the responsibilities of the member states for the implementation and application of the integrated system , the commission shall , where necessary , seek the assistance of specialised bodies or persons in order to facilitate the establishment , monitoring and operation of the integrated system , in particular , with a view to providing the competent authorities of the member states with technical advice .


### member states shall limit public access to data sets referred to in paragraphs 3 and 4 where such access would adversely affect the confidentiality of personal data , in accordance with regulation 2016 / 679 . ### member states may limit public access to data sets referred to in paragraphs 3 and 4 where such access would adversely affect the confidentiality of personal data , in accordance with regulation 2016 / 679 .


### member states may make use of their existing control systems and administration to ensure compliance with the rules on conditionality . ### member states shall make use of their existing control systems and administration to ensure compliance with the rules on conditionality .


### to be effective , the information should be adequate and proportional to the circumstances of the case . the infringing trader should adequately inform all consumers concerned of a final injunction and redress orders issued within the representative action as well as of a settlement approved by a court or administrative authority . such information may be provided for instance on the trader ' s website , social media , online market places , or in popular newspapers , including those distributed exclusively by electronic means of communication . if possible , consumers should be informed individually through electronic or paper letters . this information should be provided in accessible formats for persons with disabilities upon request . ### to be effective , the information should be adequate and proportional to the circumstances of the case , and there should not be an excessive increase in the administrative burden and costs for traders . the infringing trader should adequately inform all consumers concerned of a final injunction and redress orders issued within the representative action as well as of a settlement approved by a court or administrative authority . such information may be provided for instance on the trader ' s website , social media , online market places , or in popular newspapers , including those distributed exclusively by electronic means of communication . if possible , consumers should be informed individually through electronic or paper letters . this information should be provided in accessible formats for persons with disabilities upon request .


### this directive sets out rules enabling qualified entities to seek representative actions aimed at the protection of the collective interests of consumers , while ensuring appropriate safeguards to avoid abusive litigation . ### this directive sets out rules enabling qualified entities to seek representative actions aimed at the protection of the collective interests of consumers , while ensuring appropriate safeguards at eu and member state level and their consistent eu - wide application to avoid abusive litigation .


### member states shall designate an entity as qualified entity if it complies with the following criteria : ### cpc entities may designate an entity as a qualified entity for article 5 measures if it complies with the following criteria :


### it has a non - profit making character . ### it has a non - profit making character and a governance structure providing complete independence from third parties and ensuring that no excessive salaries or office costs or other expenses are paid just to fulfill the non - profit criterion , nor is it a vehicle for pursuing litigation for profit controlled by others ;


### member states shall ensure that the submission of a representative action as referred to in articles 5 and 6 shall have the effect of suspending or interrupting limitation periods applicable to any redress actions for the consumers concerned , if the relevant rights are subject to a limitation period under union or national law . ### in accordance with national law , member states shall ensure that the submission of a representative action as referred to in articles 5 and 6 shall have the effect of suspending or interrupting limitation periods applicable to any redress actions for the consumers concerned , if the relevant rights are subject to a limitation period under union or national law .


### member states shall ensure that , at the request of a qualified entity that has presented reasonably available facts and evidence sufficient to support the representative action , and has indicated further evidence which lies in the control of the defendant , the court or administrative authority may order , in accordance with national procedural rules , that such evidence be presented by the defendant , subject to the applicable union and national rules on confidentiality . ### member states shall ensure that , at the request of a qualified entity that has presented reasonably available facts and evidence sufficient to support the representative action , and has indicated further evidence which lies in the control of the defendant , provided such information is precisely described and narrowly limited to what is proportionate , the court or administrative authority may order , in accordance with national procedural rules , that such evidence be presented by the defendant , subject to the applicable union and national rules on confidentiality .


### member states shall take the necessary measures to ensure that in cases where the qualified entities are required to inform consumers concerned about the ongoing representative action the related cost may be recovered from the trader if the action is successful . ### member states shall take the necessary measures to ensure that the party that loses a collective redress action reimburses necessary legal costs borne by the winning party , subject to the conditions provided for in the relevant national law . in cases where the qualified entities are required to inform consumers concerned about the ongoing representative action the related cost may be recovered from the trader if the action is successful .


### product safety ; ### food and non - food product safety ;


### having regard to the treaty on the functioning of the european union , and in particular the first subparagraph of article 42 and article 43 thereof , ### having regard to the treaty on the functioning of the european union , and in particular the first subparagraph of article 42 , article 43 and article 114 thereof ,


### the scope of directive 2000 / 9 / ec should be maintained . this regulation should apply to cableway installations designed to transport persons used in high - altitude tourist resorts or in urban transport facilities . cableway installations are mainly lift systems , such as funicular railways , aerial ropeways , cable cars , gondolas , chairlifts and drag lifts . traction by cable and the passenger transport function are the essential criteria determining the cableway installations covered by this regulation . ### the scope of directive 2000 / 9 / ec should be maintained . this regulation should apply to cableway installations designed to transport persons used in tourist resorts or in urban transport facilities . cableway installations are mainly lift systems , such as funicular railways , aerial ropeways , cable cars , gondolas , chairlifts , drag lifts and other installations for tourism or sport purposes . traction by cable and the passenger transport function are the essential criteria determining the cableway installations covered by this regulation .