### liquid renewable fuels are likely to be required by the transport sector in order to reduce its greenhouse gas emissions . advanced biofuels , such as those made from wastes and algae , provide high greenhouse gas savings with low risk of causing indirect land use change and do not compete directly for agricultural land for the food and feed markets . it is appropriate , therefore , to encourage greater production of such advanced biofuels as these are currently not commercially available in large quantities , in part due to competition for public subsidies with established food crop based biofuel technologies . further incentives should be provided by increasing the weighting of advanced biofuels towards 10% target for transport set in directive 2009 / 28 / ec compared to conventional biofuels . in this context , only advanced biofuels with low estimated indirect land use change impacts and high overall greenhouse gas savings should be supported as part of the post 2020 renewable energy policy framework . ### liquid renewable fuels are likely to be required by the transport sector in order to reduce its greenhouse gas emissions . advanced biofuels , such as those made from wastes and algae , provide high greenhouse gas savings with no risk of causing indirect land use change and do not compete directly for agricultural land for the food and feed markets . after prior scientific assessment about their merits and their true sustainability . it is appropriate , therefore , to encourage greater production of such advanced biofuels as these are currently not commercially available in large quantities , in part due to competition for public subsidies with established food crop based biofuel technologies . further incentives should be provided by increasing the weighting of advanced biofuels towards 10% target for transport set in directive 2009 / 28 / ec compared to conventional biofuels . in this context , only advanced biofuels which meet sustainability criteria , which do not compete with food for land , water or other resources and which have no estimated indirect land use change impacts and high overall greenhouse gas savings should be supported as part of the post 2020 renewable energy policy framework .


### liquid renewable fuels are likely to be required by the transport sector in order to reduce its greenhouse gas emissions . advanced biofuels , such as those made from wastes and algae , provide high greenhouse gas savings with low risk of causing indirect land use change and do not compete directly for agricultural land for the food and feed markets . it is appropriate , therefore , to encourage greater production of such advanced biofuels as these are currently not commercially available in large quantities , in part due to competition for public subsidies with established food crop based biofuel technologies . further incentives should be provided by increasing the weighting of advanced biofuels towards 10% target for transport set in directive 2009 / 28 / ec compared to conventional biofuels . in this context , only advanced biofuels with low estimated indirect land use change impacts and high overall greenhouse gas savings should be supported as part of the post 2020 renewable energy policy framework . ### liquid renewable fuels are likely to be required by the transport sector in order to reduce its greenhouse gas emissions . advanced biofuels , such as those made from wastes , cellulosic and ligno - cellulosic materials and algae , provide high greenhouse gas savings with low risk of causing indirect land use change and do not compete directly for agricultural land for the food and feed markets . it is appropriate , therefore , to substantially encourage greater production of such advanced biofuels as these are currently not commercially available in large quantities . further incentives should be provided by increasing the weighting of advanced biofuels towards 10% target for transport set in directive 2009 / 28 / ec compared to conventional biofuels . in this context , advanced biofuels which provide overall greenhouse gas savings should be more intensively supported as part of the post 2020 renewable energy policy framework


### liquid renewable fuels are likely to be required by the transport sector in order to reduce its greenhouse gas emissions . advanced biofuels , such as those made from wastes and algae , provide high greenhouse gas savings with low risk of causing indirect land use change and do not compete directly for agricultural land for the food and feed markets . it is appropriate , therefore , to encourage greater production of such advanced biofuels as these are currently not commercially available in large quantities , in part due to competition for public subsidies with established food crop based biofuel technologies . further incentives should be provided by increasing the weighting of advanced biofuels towards 10% target for transport set in directive 2009 / 28 / ec compared to conventional biofuels . in this context , only advanced biofuels with low estimated indirect land use change impacts and high overall greenhouse gas savings should be supported as part of the post 2020 renewable energy policy framework . ### liquid renewable fuels are likely to be required by the transport sector in order to reduce its greenhouse gas emissions . conventional biofuels , such as those made from wastes , provide high greenhouse gas savings with low risk of causing indirect land use change and do not compete directly for agricultural land for the food and feed markets . advanced biofuels , such as those made from cellulosic feedstocks and algae , have the potential to provide high greenhouse gas savings with low risk of causing indirect land use change . it is appropriate , therefore , to encourage greater production of such advanced biofuels . further incentives should be provided by increasing the weighting of advanced biofuels towards 10% target for transport set in directive 2009 / 28 / ec compared to conventional biofuels by establishing a separate 2% target for advanced biofuels .


### in order to ensure the long - term competitiveness of bio - based industrial sectors , and in line with the 2012 communication ' innovating for sustainable growth : a bioeconomy for europe ' and the roadmap to a resource efficient europe promoting integrated and diversified biorefineries across europe , enhanced incentives under directive 2009 / 28 / ec should be set in a way that gives preference to the use of biomass feedstocks that do not have a high economic value for other uses than biofuels . ### in order to ensure the long - term competitiveness of bio - based industrial sectors , and to provide a stable regulatory environment for existing and new investments , in line with the 2012 communication ' innovating for sustainable growth : a bioeconomy for europe ' and the roadmap to a resource efficient europe promoting integrated and diversified biorefineries across europe , a commitment should be made that the levels of biofuels encouraged by directive 2009 / 28 / ec will be maintained in the subsequent years after 2020 .


### the minimum greenhouse gas saving threshold for biofuels and bioliquids produced in new installations should be increased with effect from 1st july 2014 in order to improve their overall greenhouse gas balance as well as discouraging further investments in installations with low greenhouse gas savings performance . this increase provides for investment safeguards in biofuels and bioliquids production capacities in conformity with article 19 second subparagraph . ### the minimum greenhouse gas saving threshold for biofuels and bioliquids should be kept as provided by directive 2009 / 28 / ec , because the current provisions ensure an improved overall greenhouse gas balance .


### ' 2 . the greenhouse gas emission saving from the use of biofuels and bioliquids taken into account for the purposes referred to in paragraph 1 shall be at least 60 % for biofuels and bioliquids produced in installations starting operation after 1st july 2014 . an installation is “in operation” if the physical production of biofuels or bioliquids has taken place . in the case of installations that were in operation on or before 1st of july 2014 , for the purposes referred to in paragraph 1 , biofuels and bioliquids shall achieve a greenhouse gas emission saving of at least 35% until 31 december 2017 and at least 50% from 1 january 2018 . the greenhouse gas emission saving from the use of biofuels and bioliquids shall be calculated in accordance with article 19 . ' ### ' 2 . the greenhouse gas emission saving from the use of biofuels and bioliquids taken into account for the purposes referred to in paragraph 1 shall be at least 35 % . with effect from 1 january 2017 , the greenhouse gas emission saving from the use of biofuels and bioliquids taken into account for the purposes referred to paragraph 1 shall be at least 50 % . from 1 january 2018 that greenhouse gas emission saving shall be at least 60 % for biofuels and bioliquids produced in installations in which production started on or after 1 january 2017 . the greenhouse gas emission saving from the use of biofuels and bioliquids shall be calculated in accordance with article 19 . '


### ' 1 . the commission shall be empowered to adopt delegated acts pursuant to article 10a concerning the adaptation to technical and scientific progress of the permitted analytical methods referred to in annexes i , ii and iii . ' ### ' 1 . the commission shall be empowered to adopt implementing acts concerning the adaptation to technical and scientific progress of the permitted analytical methods referred to in annexes i , ii and iii . '


### paragraph 4 is amended as follows : in point , the following phrase is added : ' this indent shall be without prejudice to articles 17a and 3d ; ' the following point is added : for the calculation of biofuels in the numerator , the share of energy from biofuels produced from cereal and other starch rich crops , sugars and oil crops shall be no more than 5% , the estimated share at the end of 2011 , of the final consumption of energy in transport in 2020 . ### paragraph 4 is amended as follows : the first sentence is replaced by the following : each member state shall ensure that the share of energy from renewable sources in all forms of transport in 2020 is at least 10 % of the final consumption of energy in transport in that member state , in point , the following phrase is added : ' this indent shall be without prejudice to articles 17a and 3d ; ' the following point is added : for the calculation of biofuels in the numerator , the share of energy from biofuels produced from feedstock listed in annex ix shall be at least 2% of the final consumption of energy in transport in 2020 , and the share of energy from biofuels produced from food crops shall be at least 8% of the final consumption of energy .


### for the calculation of biofuels in the numerator , the share of energy from biofuels produced from cereal and other starch rich crops , sugars and oil crops shall be no more than 5% , the estimated share at the end of 2011 , of the final consumption of energy in transport in 2020 . ### for the calculation of biofuels in the numerator , the share of energy from biofuels produced from cereal and other starch rich crops , sugars , and oil crops shall be no more than 8% , the estimated share at the end of 2011 , of the final consumption of energy in transport in 2020 .


### for the calculation of biofuels in the numerator , the share of energy from biofuels produced from cereal and other starch rich crops , sugars , and oil crops shall be no more than 5% , the estimated share at the end of 2011 , of the final consumption of energy in transport in 2020 . ### ' for the calculation of biofuels in the numerator , the share of energy from advanced biofuels shall be no less than 2% of the final consumption of energy in transport in 2020 . '


### the commission shall be empowered to adopt delegated acts in accordance with article 25 concerning the adaptation of the energy content of transport fuels as set out in annex iii to scientific and technical progress . ### the commission shall be empowered to adopt implementing acts concerning the adaptation of the energy content of transport fuels as set out in annex iii to scientific and technical progress .


### ' the commission may decide that voluntary national or international schemes setting standards for the production of biomass products contain accurate data for the purposes of article 17 or demonstrate that consignments of biofuel or bioliquid comply with the sustainability criteria set out in article 17 to . the commission may decide that those schemes contain accurate data for the purposes of information on measures taken for the conservation of areas that provide , in critical situations , basic ecosystem services , for soil , water and air protection , the restoration of degraded land , the avoidance of excessive water consumption in areas where water is scarce and on the issues referred to in the second subparagraph of article 17 . the commission may also recognise areas for the protection of rare , threatened or endangered ecosystems or species recognised by international agreements or included in lists drawn up by intergovernmental organisations or the international union for the conservation of nature for the purposes of article 17 . ' ### ' the commission may decide that , without prejudice to article 21a , voluntary national or international schemes setting standards for the production of biomass products contain accurate data for the purposes of article 17 or demonstrate that consignments of biofuel or bioliquid comply with the sustainability criteria set out in article 17 to . the commission may decide that those schemes contain accurate data for the purposes of information on measures taken for the conservation of areas that provide , in critical situations , basic ecosystem services , for soil , water and air protection , the restoration of degraded land , the avoidance of excessive water consumption in areas where water is scarce and on the issues referred to in the second subparagraph of article 17 . the commission may also recognise areas for the protection of rare , threatened or endangered ecosystems or species recognised by international agreements or included in lists drawn up by intergovernmental organisations or the international union for the conservation of nature for the purposes of article 17 . '


### article 21 is deleted . ### article 21 paragraph 2 is deleted .


### in article 22 , paragraph 2 is replaced by the following : ### in article 22 , paragraph 2 is deleted


### the delegation of power referred to in article 3 , article 5 , the third subparagraph of article 17 , articles 19 , 19 and 19 shall be conferred on the commission for an indeterminate period of time from [ the date of entry into force of this directive ] . ### the delegation of power referred to in article 3 , article 5 , the third subparagraph of article 17 , articles 19 , 19 and 19 shall be conferred on the commission for 5 years from [ the date of entry into force of this directive ] with the possibility of lengthening this period .


### those directives have been reviewed in the light of experience with a view to simplifying and updating the applicable rules , removing inconsistencies and closing unwanted gaps in the rules . that review has shown that it is appropriate to replace those four directives by this single directive . this directive should accordingly lay down standard rules for the common aspects and move away from the minimum harmonisation approach in the former directives under which member states could maintain or adopt stricter national rules . ### those directives have been reviewed in the light of experience with a view to simplifying and updating the applicable rules , removing inconsistencies and closing unwanted gaps in the rules . that review has shown that it is appropriate to replace those four directives by this single directive .


### ' goods ' means any tangible movable item , with the exception of : ### ' goods ' means any tangible or intangible movable item , with the exception of :


### the explicit wish of a minor who is capable of forming an opinion and assessing this information to refuse participation in , or to be withdrawn from , the clinical trial at any time , is duly taken into consideration by the investigator in accordance with his or her age and maturity ; ### the explicit wish of a minor to refuse participation in , or to be withdrawn from , the clinical trial at any time , is respected , irrespective of the position of his or her legal representative , no matter what the age or maturity of the minor may be ;


### – in trials with minors or incapacitated subjects , the procedures to obtain informed consent from the parent or legal representative , and the involvement of the minor or incapacitated subject shall be described ; ### – in trials with incapacitated subjects , the procedures to obtain informed consent from the parent or legal representative , and the involvement of the incapacitated subject shall be described ;


### draft legislative resolution ### points out that the financial envelope specified in the legislative proposal constitutes only an indication to the legislative authority and that it cannot be fixed until agreement is reached on the regulation on the multiannual financial framework ;


### draft legislative resolution ### recalls its resolution of 8 june 2011 on investing in the future : a new multiannual financial framework for a competitive , sustainable and inclusive europe1 ; reiterates that sufficient additional resources are needed in the next mff to enable the union to fulfil the existing policy priorities and the new tasks provided for by the treaty of lisbon , as well as to respond to unforeseen events ; challenges the council , in case it does not share this approach , to clearly identify which of its political priorities or projects could be dropped altogether , despite their proven european added value ; _______________ 1 texts adopted , p7_ta0266 .


### in order to guarantee the continuation of the programmes , an appropriate financial framework must be established to allow the union to continue to finance them . it is also necessary to indicate the amount of money required between 1 january 2014 to 31 december 2020 to finance completion of the deployment phase of the galileo programme and operation of the systems . ### given the long lead times involved and the levels of capital investment already committed to these projects , sufficient and consistent financial commitments over financial planning periods are required in order to ensure the planning continuity and organisational stability of the programmes . in order to guarantee the continuation of the programmes , an appropriate financial framework must be established to allow the union to continue to finance them . it is also necessary to specify the maximum amount of money required between 1 january 2014 to 31 december 2020 to finance completion of the deployment phase of the galileo programme and operation of the systems .


### it is important to note that the investment and operating costs of the systems as estimated for the period 2014 - 2020 do not take account of unforeseen financial obligations which the union may be obliged to bear , in particular those relating to non - contractual liability arising from the public ownership of the systems , especially with regard to force majeure and catastrophic failure . these obligations are the subject of a specific analysis by the commission . ### it is important to note that the investment and operating costs of the systems as estimated for the period 2014 - 2020 do not take account of unforeseen financial obligations which the union may be obliged to bear , in particular those relating to non - contractual liability arising from the public ownership of the systems , especially with regard to force majeure and catastrophic failure . these obligations are the subject of a specific analysis by the commission . any such unforeseen financial obligations should be covered by the margin between the own resources and the mff ceilings .


### in addition the revenue generated by the systems should accrue to the union in order to compensate for the investments that it has made previously . a revenue - sharing mechanism might also be provided for in contracts concluded with private sector companies . ### in addition the revenue generated by the systems should accrue to the union in order to compensate for the investments that it has made previously . in accordance with article 294 of the treaty on the functioning of the european union a revenue - sharing mechanism might also be adopted and provided for in contracts concluded with private sector companies .


### in order to avoid the cost over - runs and delays which have affected the progress of the programmes over the last few years , efforts need to be stepped up to control risks which might lead to excess costs as requested by the council and the parliament in their respective conclusions and resolutions of 31 march 2011 and 8 june 2011 , and as shown by the commission ' s communication to the european parliament , the council , the economic and social committee and the committee of the regions of 29 june 2011 entitled ' a budget for europe 2020 ' . ### in order to avoid the cost over - runs and delays which have affected the progress of the programmes over the last few years , efforts will be stepped up to control risks which might lead to excess costs as requested by the council and the parliament in their respective conclusions and resolutions of 31 march 2011 and 8 june 2011 , and as shown by the commission ' s communication to the european parliament , the council , the economic and social committee and the committee of the regions of 29 june 2011 entitled ' a budget for europe 2020 ' . deployment and exploitation risks have been estimated to represent about eur 1 005 million and have been included in the financial envelope of the programmes . should additional financial resources be needed for these programmes , they should not be found at the expense of smaller successful projects that are financed by the union budget . any additional financial resources derived from these risks should be covered by the margin between the own resources and the mff ceilings .


### the union should conclude a multiannual delegation agreement with the european space agency covering the technical and planning aspects of the programmes . in order for the commission , representing the union , to exercise its power of control fully , the delegation agreement should include the general conditions for managing the funds entrusted to the european space agency . concerning activities exclusively financed by the union , these conditions must ensure a degree of control comparable to that required if the european space agency was an agency of the union . ### in accordance to article 290 of the tfeu , power should be delegated to the commission to conclude , on behalf of the union , a multiannual delegation agreement with the european space agency covering the technical and planning aspects of the programmes . in order for the commission to exercise its power of control fully , the delegation agreement should include the general conditions for managing the funds entrusted to the european space agency . concerning activities exclusively financed by the union , these conditions must ensure a degree of control comparable to that required if the european space agency was an agency of the union .


### in order to allocate the union funds attributed to the programmes with a ceiling total that the commission must not exceed , effective public procurement procedures must be applied and , in particular , contracts negotiated so as to ensure optimum use of resources , satisfactory services , smooth running of programmes , good risk management and compliance with the proposed schedule . the contracting authority must make every effort to meet these requirements . ### in order to allocate the union funds attributed to the programmes with a ceiling total within the mff that the commission must not exceed , effective public procurement procedures must be applied and , in particular , contracts negotiated so as to ensure optimum use of resources , satisfactory services , smooth running of programmes , good risk management and compliance with the proposed schedule . the contracting authority must make every effort to meet these requirements .


### assessments should be carried out by the commission in order to evaluate the effectiveness and efficiency of the measures taken to achieve the objectives of the programmes . ### assessments , based on agreed indicators , should be carried out by the commission in order to evaluate the effectiveness and efficiency of the measures taken to achieve the objectives of the programmes .


### the appropriations shall be implemented in accordance with the provisions of this regulation and regulation no 1605 / 2002 . ### the appropriations shall be implemented in accordance with the provisions of this regulation and regulation no xxx / 2012 [ new financial regulation ] .


### a revenue - sharing mechanism may be provided for in contracts concluded with private sector entities . ### any revenue - sharing mechanism shall be adopted in accordance with article 294 tfeu . this revenue - sharing mechanism may be provided for in contracts concluded with private sector entities .


### the commission shall conclude a multiannual delegation agreement with the european space agency on the basis of a delegation decision adopted by the commission in accordance with article 54 of regulation no 1605 / 2002 . this agreement shall cover the execution of tasks and the budget subject to the delegation in accordance with the implementation of the programmes , in particular completion of the infrastructure under the galileo programme . ### the commission shall conclude , by means of a delegated act , a multiannual delegation agreement with the european space agency on the basis of a delegation decision adopted by the commission in accordance with article xx of regulation no xxx / 2012 [ new financial regulation ] . this agreement shall cover the execution of tasks and the budget subject to the delegation in accordance with the implementation of the programmes , in particular completion of the infrastructure under the galileo programme .


### the commission shall ensure the implementation of this regulation . each year , when it presents the preliminary draft budget , it shall present a report to the european parliament and to the council on the implementation of the programmes . ### the commission shall ensure the implementation of this regulation . each year , when it presents the preliminary draft budget , it shall present a report to the european parliament and to the council on the implementation of the programmes . that report shall include , inter alia : an assessment of the implementation of the programmes and of the progress made in achieving the targets established pursuant article 1 and ; an update of the evaluation and control of risks and an assessment of their possible impact in terms of cost and time deviations ; a summary of all information submitted to the budgetary authority under articles 7 , 8 , 9 and 16 ) ; an evaluation of the functioning of the multiannual delegation agreement concluded pursuant to article 16 .


### in october 2009 , in light of this difficult market situation for milk , a high level expert group on milk was set up with the purpose of discussing mid - term and long - term arrangements for the milk and milk products sector , given the expiry of dairy quotas in 2015 . while respecting the outcome of the health check , the hlg was to work on a regulatory framework to be put in place , to contribute to stabilising the market and producers ' income and enhance its transparency . ### in october 2009 , in light of this difficult market situation for milk , a high level expert group on milk was set up with the purpose of discussing mid - term and long - term arrangements for the milk and milk products sector , given the expiry of dairy quotas in 2015 . while respecting the outcome of the health check , the hlg was to work on a regulatory framework to be put in place , to contribute to stabilising the market and producers’ income and enhance its transparency . without a policy to stabilise production prices , strong price fluctuations lead to mechanisms that particularly benefit processors and increase their profit margins . as a result the price rises are passed on to consumers , whereas the producers’ falling prices only sporadically lead to a fall in consumer prices .


### the hlg obtained oral and written input from major european stakeholder groups in the dairy supply chain representing farmers , dairy processors , dairy traders , retailers and consumers . further , the hlg received contributions from invited academic experts , third country representatives , national competition authorities and the commission ' s services . a dairy stakeholder conference was also held on 26 march 2010 allowing a wider range of actors in the supply chain to express their views . the hlg delivered its report on 15 june 2010 , which contained an analysis of the current situation of the dairy sector and number of recommendations . ### the hlg obtained oral and written input from major european stakeholder groups in the dairy supply chain representing farmers , dairy processors , dairy traders , retailers and consumers . further , the hlg received contributions from invited academic experts , third country representatives , national competition authorities and the commission ' s services . a dairy stakeholder conference was also held on 26 march 2010 allowing a wider range of actors in the supply chain to express their views . the hlg delivered its report on 15 june 2010 , which , without constituting an overview of the contributions received , presented an analysis and interpretation in line with the hlg ' s own criteria . in this context , the report on the current situation of the dairy sector formulated a number of recommendations , relating in particular to contractualising supplies , strengthening the bargaining power of producers and strengthening the role of inter - branch organisations , whilst omitting to make any reference to distribution .


### the hlg noted that the dairy producing and processing sectors are highly differentiated between member states . there is also a highly variable situation between operators and types of operators within individual member states . but concentration of supply is low in many cases with a resulting imbalance in bargaining power in the supply chain between farmers and dairies . this imbalance can lead to unfair commercial practices ; in particular , farmers do not know what price they will receive for their milk when delivering because the price is often fixed much later by dairies on a basis of the obtained added value , which , for non - cooperatives , is often outside of the farmer ' s control . ### the hlg also noted that the dairy producing and processing sectors are highly differentiated between member states . there is thus a highly variable situation between operators and types of operators within individual member states . but concentration of demand is high in most cases while that of supply is low , with a resulting imbalance in bargaining power in the supply chain between producers and processors . this imbalance can lead to unfair commercial practices ; in particular , farmers often do not know what price they will receive for their milk upon delivery as the price is often fixed much later by dairies on a basis of the obtained added value , which , for non - cooperatives , is often outside of the farmer’s control .


### the hlg noted that the dairy producing and processing sectors are highly differentiated between member states . there is also a highly variable situation between operators and types of operators within individual member states . but concentration of supply is low in many cases with a resulting imbalance in bargaining power in the supply chain between farmers and dairies . this imbalance can lead to unfair commercial practices ; in particular , farmers do not know what price they will receive for their milk when delivering because the price is often fixed much later by dairies on a basis of the obtained added value , which , for non - cooperatives , is often outside of the farmer ' s control . ### the hlg noted that the dairy producing and processing sectors are highly differentiated between member states . there is also a highly variable situation between operators and types of operators within individual member states . but concentration of supply is low in many cases with a resulting imbalance in bargaining power in the supply chain between farmers and dairies . this imbalance can lead to unfair commercial practices ; in particular , farmers do not know what price they will receive for their milk when delivering because the price is often fixed much later by dairies on a basis of the obtained added value , which , for non - cooperatives , is often outside of the farmer ' s control . points out that the above - mentioned imbalance and the uneven distribution of added value require measures covering all the links of the supply chain , including distribution .


### it is current practice for payment service providers to offer a payment account in a package with other financial products or services . this practice can be a means for payment service providers to diversify their offer and to compete against each other , and in the end it can be beneficial for consumers . however the commission study on tying practices in the financial sector conducted in 2009 as well as relevant consultations and consumer complaints have showed that payment service providers may offer bank accounts packaged with products not requested by consumers and which are not essential for payment accounts , such as household insurance . moreover , it has been observed that these practices may reduce transparency and comparability of prices , limit purchasing options for consumers and negatively impact upon their mobility . therefore , member states should ensure that when payment service providers offer packaged payment accounts consumers are provided with information on the applicable fees for the payment account and for each other financial service included in the package separately . these obligations should not apply to services which are naturally connected to the use of the payment account , such as withdrawals , wire transfers or payment cards . as a result , these services should be excluded from the scope of this provision . ### it is current practice for payment service providers to offer a payment account in a package with other financial products or services . this practice can be a means for payment service providers to diversify their offer and to compete against each other , and in the end it can be beneficial for consumers . however the commission study on tying practices in the financial sector conducted in 2009 as well as relevant consultations and consumer complaints have showed that payment service providers may offer bank accounts packaged with products not requested by consumers and which are not essential for payment accounts , such as household insurance . moreover , it has been observed that these practices may reduce transparency and comparability of prices , limit purchasing options for consumers and negatively impact upon their mobility . therefore , member states should ensure that when payment service providers offer payment accounts bundled with other financial services , consumers are provided with information on the applicable fees for the payment account and for each other financial service included in the package separately , insofar as the payment account and the other financial services can be bought separately . these obligations should not apply to services which are naturally connected to the use of the payment account , such as withdrawals , wire transfers or payment cards . as a result , these services should be excluded from the scope of this provision .


### consumers are only incentivised to switch accounts if the process does not entail an excessive administrative and financial burden . the procedure for switching payment accounts to another payment service provider should be clear and quick . the fees , if any , charged by payment service providers in relation to the switching service should be in line with the actual cost incurred by payment service providers . in order to have positive impact on competition , switching should also be facilitated at cross - border level . given that switching cross - border could be more complex than the switching at national level and may require payment service providers to adapt and refine their internal procedures , longer deadlines for the cross - border switch should be foreseen . the need to maintain different deadlines should be evaluated in the context of the review of the proposed directive . ### consumers are only incentivised to switch accounts if the process does not entail an excessive administrative and financial burden . the procedure for switching payment accounts to another payment service provider should be clear and quick . the fees , if any , charged by payment service providers in relation to the switching service should be in line with the actual cost incurred by payment service providers .


### consumers who are legally resident in the union and who do not hold a payment account in a certain member state should be in a position to open and use a payment account with basic features in that member state . in order to ensure the widest possible access to such accounts , consumers should have access to them irrespective of their financial circumstances , such as unemployment or personal bankruptcy , and of their place of residence . moreover , the right to access a payment account with basic features in any member state should be granted in conformity with the requirements set out in directive 2005 / 60 / ec of the european parliament and of the council of 26 october 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing16 , in particular with regard to customer due diligence procedures . __________________ 16 oj l 309 , 25 . 11 . 05 , p . 15 . ### consumers who are legally resident in the union and who do not hold a payment account in a certain member state should be in a position to open and use a payment account with basic features in that member state , provided that they do not already have a payment account in another member state . in order to ensure the widest possible access to such accounts , consumers should have access to them irrespective of their financial circumstances , such as unemployment or personal bankruptcy , and of their place of residence . moreover , the right to access a payment account with basic features in any member state should be granted in conformity with the requirements set out in directive 2005 / 60 / ec of the european parliament and of the council of 26 october 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing16 , in particular with regard to customer due diligence procedures . __________________ 16 oj l 309 , 25 . 11 . 2005 , p . 15 .


### ‘ switching’ means , upon a consumer ' s request , transferring from one payment service provider to another the information about all or some standing orders for credit transfers , recurring direct debits and recurring incoming credit transfers executed on a payment account , with or without transferring the positive account balance from one payment account to the other or closing the former account ; ### ‘ switching’ means , upon a consumer ' s request , transferring from one payment service provider to another the information about all or some standing orders for credit transfers , recurring direct debits and recurring incoming credit transfers executed on a payment account , with or without transferring the positive account balance from one payment account to the other or closing the former account ; only an account with a positive or null balance can be subject to switching ;


### the commission shall be empowered to adopt delegated acts , in accordance with article 24 , concerning the setting out , on the basis of the provisional lists submitted pursuant to paragraph 3 , of an eu standardised terminology for those payment services that are common to at least a majority of member states . the eu standardised terminology will include common terms and definitions for the common services . ### the commission shall be empowered to adopt delegated acts , in accordance with article 24 , concerning the setting out , on the basis of the provisional lists submitted pursuant to paragraph 3 , of an eu standardised terminology for those services linked to the payment account that are common to at least a majority of member states . the eu standardised terminology will include common terms and definitions for the common services , providing a single name for each service .


### where one or more payment services referred to in paragraph 1 is offered as part of a package of financial services , the fee information document shall disclose which of the services referred to in paragraph 1 are included in the package , the fee for the entire package and the fee for any service that is not referred to in paragraph 1 . ### where one or more payment services referred to in paragraph 1 is offered as part of a package of payment services , the fee information document shall disclose the fee for the entire package , the services which are included in the package , and the fee for any service that is not covered by the package fee .


### the unit fee charged for each service , the number of times the service was used during the relevant period and the date on which the service was used ; ### the unit fee charged for each service , or in case of a package , the fee for the entire package considering it as a single service , the number of times the service was used during the relevant period and the date on which the service was used ;


### the total amount of fees incurred for each service provided during the relevant period ; ### the total amount of fees incurred for each service or packages of services provided during the relevant period ;


### the total amount of fees incurred for all services provided during the relevant period . ### the total amount of fees incurred for all services or packages of services provided during the relevant period .


### member states shall ensure that when a payment account is offered together with another service or product as part of a package , the payment service provider informs the consumer of whether it is possible to buy the payment account separately and provides separate information regarding the costs and fees associated with each of the products and services offered in the package . ### member states shall ensure that when a payment account is offered together with another service or product as part of a package , the payment service provider informs the consumer of all products and services being part of the package .


### member states shall ensure that when a payment account is offered together with another service or product as part of a package , the payment service provider informs the consumer of whether it is possible to buy the payment account separately and provides separate information regarding the costs and fees associated with each of the products and services offered in the package . ### member states shall ensure that when a payment account is offered together with another financial service or product as part of a package , the payment service provider informs the consumer of whether it is possible to buy the payment account separately and if so provides separate information regarding the costs and fees associated with each of the financial products and services offered in the package , insofar as these can also be bought separately .


### member states shall ensure that payment service providers provide a switching service as described in article 10 to any consumer who holds a payment account with a payment service provider located in the union . ### the provisions related to the switching as laid down in chapter iii apply only to the switching of payment accounts within a member state . each member state shall ensure that payment service providers provide a switching service as described in article 10 to any consumer who holds a payment account with a payment service provider located on its territory .


### member states shall ensure that any financial loss incurred by the consumer resulting from the non - compliance of a payment service provider involved in the switching process with its obligations under article 10 is refunded by that payment service provider . ### member states shall ensure that any financial loss incurred by the consumer resulting from the non - compliance of a payment service provider involved in the switching process with its obligations under article 10 is refunded as soon as possible by that payment service provider .


### member states shall ensure that consumers legally resident in the union have the right to open and use a payment account with basic features with the payment service provider or providers identified pursuant to paragraph 1 . such a right shall apply irrespective of the consumer ' s place of residence . member states shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer . before opening the payment account with basic features , payment service providers shall verify whether the consumer holds or does not hold a payment account in their territory . ### member states shall ensure that consumers legally resident in the union have the right to open and use a payment account with basic features . such a right shall apply irrespective of the consumer ' s place of residence . member states shall ensure that the exercise of the right is not made difficult or burdensome for the consumer . before opening the payment account with basic features , payment service providers shall verify whether the consumer holds or does not hold a payment account in their territory .


### member states shall ensure that consumers legally resident in the union have the right to open and use a payment account with basic features with the payment service provider or providers identified pursuant to paragraph 1 . such a right shall apply irrespective of the consumer ' s place of residence . member states shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer . before opening the payment account with basic features , payment service providers shall verify whether the consumer holds or does not hold a payment account in their territory . ### member states shall ensure that consumers legally resident in the union have the right to open and use a payment account with basic features with the payment service provider or providers identified pursuant to paragraph 1 . such a right shall apply irrespective of the consumer ' s place of residence . member states shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer . before opening the payment account with basic features , payment service providers shall verify that the consumer does not already hold a payment account in their territory . for this purpose , the consumer can provide the payment service provider with a declaration of honour , or with a declaration of a financial institution that verifies that the consumer has been refused the opening of a regular payment account .


### member states shall ensure that , in the cases indicated in paragraph 3 , the payment service provider immediately informs the consumer of the refusal , in writing and free of charge , unless such disclosure would be contrary to the objectives of national security or public policy . ### member states shall ensure that , in the cases indicated in paragraph 3 , the payment service provider immediately informs the consumer of the refusal and the reason of the refusal , in writing and free of charge , unless such disclosure would be contrary to the objectives of national security or public policy .


### member states shall ensure that the consumer is not offered any overdraft facilities in conjunction with the payment account with basic features . ### member states shall ensure that the consumer is not offered any overdraft facilities as part of the basic features of the payment account .


### the consumer deliberately used the account for criminal activities ; ### the consumer deliberately used the account for criminal activities , money laundering or the financing of terrorism ;


### it is also necessary to establish a certain minimum legal requirement as regards the extent of the information that should be made available to the public by undertakings across the union . annual reports should give a fair and comprehensive view of an undertaking ' s policies , results , and risks . ### it is also necessary to establish a certain minimum legal requirement as regards the extent of the information that should be made available to the public by undertakings across the union . annual reports should give a fair and comprehensive view of an undertaking ' s policies , results , and risks , as well as of the precise purpose of its social investments and those of its subsidiaries .


### in order to enhance consistency and comparability of non - financial information disclosed throughout the union , companies should be required to include in their annual report a non - financial statement containing information relating to at least environmental matters , social and employee - related matters , respect for human rights , anti - corruption and bribery matters . such statement should include a description of the policies , results , and the risks related to those matters . ### in order to enhance consistency and comparability of non - financial information disclosed throughout the union , companies should be required to include in their annual report a non - financial statement containing information relating to at least environmental matters , social and employee - related matters , respect for human rights , anti - corruption and bribery matters . such statement should include a description of the policies and results and the precise purpose of social investments , as well as the risks related to those matters , including for the entire supply chain .


### in providing this information , companies may rely on national frameworks , eu - based frameworks such as the eco - management and audit scheme , and international frameworks such as the united nations global compact , the guiding principles on business and human rights implementing the un “protect , respect and remedy” framework , the organisation for economic co - operation and development guidelines for multinational enterprises , the international organisation for standardisation 26000 , the international labour organization tripartite declaration of principles concerning multinational enterprises and social policy , and the global reporting initiative . ### in providing this information , undertakings should rely on national frameworks , eu - based frameworks such as the eco - management and audit scheme , and international frameworks such as the united nations global compact , the guiding principles on business and human rights implementing the un ' protect , respect and remedy ' framework , the organisation for economic co - operation and development guidelines for multinational enterprises , the international organisation for standardisation 26000 , the international labour organization tripartite declaration of principles concerning multinational enterprises and social policy , and the global reporting initiative or on a set of quantifiable , sector - specific social criteria endorsed by the european union under , for example , a ‘ social labelling’ scheme .


### for companies whose average number of employees during the financial year exceeds 500 and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating to at least environmental , social and employee matters , respect for human rights , anti - corruption and bribery matters , including : ### for companies whose average number of employees during the financial year exceeds 500 and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating equally to environmental , social and employee matters , respect for human rights , anti - corruption and bribery matters , including :


### in providing such information the company may rely on national , eu - based or international frameworks and , if so , shall specify which frameworks it has relied upon . ### in providing such information the company may rely on national , eu - based or international frameworks or on a set of quantifiable , sector - specific social criteria endorsed by the european union under , for example , a ‘ social labelling’ scheme , and , if so , shall specify which frameworks it has relied upon .


### the consolidated annual report shall include a fair review of the development and performance of the business and of the position of the undertakings included in the consolidation taken as a whole , together with a description of the principal risks and uncertainties that they face . ### the consolidated annual report shall include a fair review of the development and performance of the business and of the position of the undertakings included in the consolidation taken as a whole , together with a description of the principal risks and uncertainties that they face , including the entire supply chain .


### for parent undertakings of undertakings to be consolidated that together exceed an average number of 500 employees during the financial year , and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating to at least environmental , social and employee matters , respect for human rights , anti - corruption and bribery matters , including the following : ### for parent undertakings of undertakings to be consolidated that together exceed an average number of 500 employees during the financial year , and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating equally to environmental , social and employee matters , respect for human rights , anti - corruption and bribery matters , including the following :


### lack of access to credit is one of the main obstacles to business creation , especially among people furthest from the labour market . union and national efforts in this area need to be stepped up in order to increase the supply of microfinance and meet demand from those who need it most , and in particular unemployed and vulnerable people who wish to start up or develop a micro - enterprise , including on a self - employed basis , but do not have access to credit . as a first step , in 2010 the european parliament and the council set up the facility . ### lack of access to credit is one of the main obstacles to business creation , especially among people furthest from the labour market . union and national efforts in this area need to be stepped up in order to increase the supply of microfinance and meet demand from those who need it most , and in particular unemployed and vulnerable people who wish to start up or develop a micro - enterprise , including on a self - employed basis , but do not have access to credit , with particular attention being given to boosting entrepreneurship among women , noting that in the union only 1 in 10 women are entrepreneurs as opposed to 1 in 4 men . as a first step , in 2010 the european parliament and the council set up the facility .


### pursuant to articles 8 and 10 of the treaty , the programme should support the mainstreaming of gender equality and anti - discrimination objectives in all its activities . regular monitoring and evaluation should be carried out to assess the way in which gender equality and anti - discrimination issues are addressed in the programme ' s activities . ### pursuant to article 8 and 10 of the treaty , mainstreaming of gender equality and anti - discrimination objectives should be promoted in all axes and activities of the programme . regular monitoring and evaluation should be carried out to assess the way in which gender equality and anti - discrimination issues are addressed in the programme ' s activities .


### this regulation establishes a european union programme for social change and innovation which aims to contribute to the implementation of the europe 2020 strategy , its headline targets and integrated guidelines by providing financial support for the european union ' s objectives in terms of promoting a high level of employment , guaranteeing adequate social protection , combating social exclusion and poverty and improving working conditions . ### this regulation establishes a european union programme for social change and innovation which aims to contribute to the implementation of the europe 2020 strategy , its headline targets and integrated guidelines by providing financial support for the european union ' s objectives in terms of promoting a high level of employment , guaranteeing adequate social protection , combating social exclusion and poverty , improving working conditions and promoting a better balance between professional and private life .


### promote employment and social inclusion by increasing the availability and accessibility of microfinance for vulnerable groups and micro - enterprises , and by increasing access to finance for social enterprises . ### promote employment and social inclusion by increasing the availability and accessibility of microfinance for vulnerable groups , and micro - enterprises with a particular attention to boosting entrepreneurship among women , and by increasing access to finance for social enterprises .


### promote equality between women and men and combat discrimination based on sex , racial or ethnic origin , religion or belief , disability , age or sexual orientation ; ### promote equality between women and men and combat discrimination based on sex , racial or ethnic origin , religion or belief , disability , age or sexual orientation . in order to efficiently tackle poverty within the union and specifically among the most vulnerable , such as women , and particularly specific categories of women , integrated actions should be promoted . to this end , the phenomenon of poverty should be challenged by promoting inventive measures at all levels , investment in social infrastructures and enhanced exchange of good practices ;


### gathering of data and statistics , as well as development of common methodologies , classifications , indicators and benchmarks ; ### gathering of data and statistics , as well as development of common methodologies , classifications , indicators and benchmarks , where appropriate broken down by gender and age group ;


### the commission shall be assisted by a committee . that committee shall be a committee within the meaning of regulation no 182 / 2011 . ### the commission shall be assisted by a committee . that committee shall be a committee within the meaning of regulation no 182 / 2011 , and the composition of the committee shall seek gender balance .


### develop services for the recruitment and placing of workers in employment through the clearance of job vacancies and applications at european level ; this shall cover all phases of placement , ranging from pre - recruitment preparation to post - placement assistance with a view to the applicant ' s successful integration into the labour market ; such services shall include targeted mobility schemes to fill vacancies where labour market shortcomings have been identified and / or help particular groups of workers such as young people . ### develop services for the recruitment and placing of workers in employment through the clearance of job vacancies and applications at european level ; this shall cover all phases of placement , ranging from pre - recruitment preparation to post - placement assistance with a view to the applicant ' s successful integration into the labour market ; such services shall include targeted mobility schemes to fill vacancies where labour market shortcomings have been identified and / or help particular groups of workers such as young people , single parents and women and men doing part - time work due to care responsibilities .


### persons who have lost or are at risk of losing their jobs , or who have difficulty in entering or re - entering the labour market , persons at risk of social exclusion and vulnerable persons who are in a disadvantaged position with regard to access to the conventional credit market and who wish to start up or develop their own microenterprises ; ### persons who have lost or are at risk of losing their jobs , or who have difficulty in entering or re - entering the labour market , persons at risk of social exclusion and vulnerable persons who are in a disadvantaged position with regard to access to the conventional credit market and who wish to start up or develop their own microenterprises with particular attention being given to boosting entrepreneurship among women ;


### for the partnership contract and each programme respectively , a member state should organise a partnership with the representatives of competent regional , local , urban and other public authorities , economic and social partners , and bodies representing civil society , including environmental partners , non - governmental organisations , and bodies responsible for promoting equality and non - discrimination . the purpose of such a partnership is to respect the principle of multi - level governance , ensure the ownership of planned interventions by stakeholders and build on the experience and know - how of relevant actors . the commission should be empowered to adopt delegated acts providing for a code of conduct in order to ensure that partners are involved in the preparation , implementation , monitoring and evaluation of partnership contracts and programmes in a consistent manner . ### for the partnership contract and each programme respectively , a member state should organise a partnership with the representatives of competent regional , local , urban and other public authorities , public and private economic and social partners , and bodies representing civil society , including environmental partners , partners active in various fields such as culture , education and youth , non - governmental organisations , and bodies responsible for promoting equality and non - discrimination . the purpose of such a partnership is to respect the principle of multi - level governance , ensure the ownership of planned interventions by stakeholders and build on the experience and know - how of relevant actors . the commission should be empowered to adopt delegated acts providing for a code of conduct in order to ensure that partners are involved in the preparation , implementation , monitoring and evaluation of partnership contracts and programmes in a consistent manner .


### with a view to strengthening accessibility and transparency of information about funding opportunities and project beneficiaries , in each member state a single website or website portal providing information on all the operational programmes , including the lists of operations supported under each operational programme , should be made available . ### with a view to strengthening accessibility and transparency of information about funding opportunities and project beneficiaries , in each member state a single website or website portal providing information on all the operational programmes , including the lists of operations supported under each operational programme , should be made available , with the aim of rendering access to funds less complex .


### strengthening research , technological development and innovation ### strengthening research , technolgical development , the cultural and creative industries and innovation ;


### protecting the environment and promoting resource efficiency ; ### protecting the environment and promoting efficient use of resources , including those linked to the historical , cultural , artistic and archeological heritage ;


### promoting social inclusion and combating poverty ### promoting social inclusion , sport and tourism and combating poverty ;


### investing in education , skills and lifelong learning ; ### investing in education , culture , skills and lifelong learning , including vocational training ;


### community - led , by local action groups composed of representatives of public and private local socio - economic interests , where at the decision - making level neither the public sector nor any single interest group shall represent more than 49 % of the voting rights ; ### community - led , by local action groups composed of representatives of public and private local cultural and socio - economic interests , where at the decision - making level neither the public sector nor any single interest group shall represent more than 49 % of the voting rights ;


### the monitoring committee shall be composed of representatives of the managing authority and intermediate bodies and of representatives of the partners . each member of the monitoring committee shall have a voting right . ### the monitoring committee shall be composed of representatives of the managing authority and intermediate bodies and of representatives of the partners referred to in article 5 . each member of the monitoring committee shall have a voting right .


### since the main objective and subject - matter of this proposal is to harmonise national provisions concerning the mentioned areas , the proposal should be based on article 53 and 62 tfeu . the form of a directive is appropriate in order to enable the implementing provisions in the areas covered by this directive , when necessary , to be adjusted to any existing specificities of the particular market and legal system in each member state . this directive should also aim at coordinating national rules concerning the access to the activity of insurance and reinsurance mediation including professional management of claims and loss adjusting , and is therefore based on article 53 of the treaty . in addition , since this is a sector offering services across the union , this directive is also based on article 62 of the treaty . ### since the main objective and subject - matter of this proposal is to harmonise national provisions concerning the mentioned areas , the proposal should be based on article 53 and 62 tfeu . the form of a directive is appropriate in order to enable the implementing provisions in the areas covered by this directive , when necessary , to be adjusted to any existing specificities of the particular market and legal system in each member state . this directive should also aim at coordinating national rules concerning the access to the activity of insurance and reinsurance mediation and is therefore based on article 53 of the treaty . in addition , since this is a sector offering services across the union , this directive is also based on article 62 of the treaty .


### this directive should apply to persons whose activity consists of assisting in the administration and performance of a contract of insurance or reinsurance , including the professional management of claims , or of loss adjusting or the expert appraisal of claims . ### this directive should apply to persons whose activity consists of assisting in the administration and performance of a contract of insurance or reinsurance .


### this directive should not apply to persons with another professional activity , such as tax experts or accountants , who provide advice on insurance cover on an incidental basis in the course of that other professional activity , neither should it apply to the mere provision of information of a general nature on insurance products , provided that the purpose of that activity is not to help the customer conclude or fulfil an insurance or reinsurance contract . ### this directive should not apply to persons with another professional activity , such as tax experts or accountants , who provide advice on insurance cover on an incidental basis in the course of that other professional activity , neither should it apply to the mere provision of information of a general nature on insurance products , provided that the purpose of that activity is not to help the customer conclude or fulfil an insurance or reinsurance contract nor the professional management of claims for an insurance or reinsurance undertaking , nor the loss adjusting and expert appraisal of claims .


### it is important to guarantee a high level of professionalism and competence among insurance and reinsurance intermediaries and the employees of direct insurers who are involved in activities preparatory to , during and after the sales of insurance policies . therefore , the professional knowledge of an intermediary , of the employees of direct insurers , and of car rental companies and travel agents , as well as the professional knowledge of persons carrying on the activities of the management of claims , loss adjusting or expert appraisal of claims needs to match the level of complexity of these activities . continuing education should be ensured . ### it is important to guarantee a high level of professionalism and competence among insurance and reinsurance intermediaries and the employees of direct insurers who are involved in activities preparatory to , during and after the sales of insurance policies . therefore , the professional knowledge of an intermediary and of the employees of direct insurers needs to enable them to complete their tasks and perform their duties adequately . continuing education should be ensured .


### by means of delegated acts pursuant to articles 290 and 291 of the treaty on the functioning of the european union and in accordance with articles 10 to 15 of regulation no 1094 / 2010 of the european parliament and of the council of 24 november 2010 establishing a european supervisory authority , the commission should adopt delegated acts as set out in articles [ 8 ] regarding notions of adequate knowledge and ability of the intermediary , article [ 17 and23 ] regarding management of conflicts of interest and articles [ 24 and 25 ] regarding conduct of business obligations in relation to insurance packaged retail investment products as well as implementing technical standards as set out in article [ 30 ] regarding procedures and forms for submitting information in relation to sanctions . these delegated acts and implementing technical standards should be developed in draft by eiopa . ### in accordance with articles 10 to 15 of regulation no 1094 / 2010 of the european parliament and of the council of 24 november 2010 establishing a european supervisory authority , the commission should adopt implementing technical standards as set out in article [ 31 ] regarding procedures and forms for submitting information in relation to sanctions . these implementing technical standards should be developed in draft by eiopa .


### this directive lays down rules concerning the taking - up and pursuit of the activities of insurance and reinsurance mediation , including professional management of claims and loss adjusting , by natural and legal persons which are established in a member state or which wish to be established there . ### this directive lays down rules concerning the taking - up and pursuit of the activities of insurance and reinsurance mediation by natural and legal persons which are established in a member state or which wish to be established there .


### the insurance is complementary to goods supplied by any provider , where such insurance covers the risk of breakdown , loss of or damage to the goods supplied by that provider ; ### the insurance is complementary to the product or service supplied by any provider , where such insurance covers :


### insurance and reinsurance intermediaries , including those who pursue these activities on an ancillary basis , persons carrying on the activities of the professional management of claims , loss adjusting or expert appraisal of claims , and members of staff of insurance undertakings carrying out insurance mediation activities , shall possess appropriate knowledge and ability , as determined by the home member state of the intermediary or undertaking , to complete their tasks and perform their duties adequately , demonstrating appropriate professional experience relevant to the complexity of the products they are mediating . ### insurance and reinsurance intermediaries and members of staff of insurance undertakings carrying out insurance mediation activities , shall possess appropriate knowledge and ability , as determined by the home member state of the intermediary or undertaking , to complete their tasks and perform their duties adequately .


### the commission shall be empowered to adopt delegated acts in accordance with article 33 . those delegated acts shall specify ### the member states shall specify :


### member states shall ensure the setting - up of appropriate , effective , impartial and independent complaints and redress procedures for the out - of - court settlement of disputes between insurance intermediaries and customers , and between insurance undertakings and customers , using existing bodies where appropriate . member states shall further ensure that all insurance undertakings and insurance intermediaries participate in the procedures for the out - of - court settlement of disputes where the following conditions are met : ### member states shall ensure the setting - up of appropriate , effective , impartial and independent complaints and redress procedures for the out - of - court settlement of disputes between insurance intermediaries and consumers , and between insurance undertakings and consumers , using existing bodies where appropriate . member states shall further ensure that all insurance undertakings and insurance intermediaries participate in the procedures for the out - of - court settlement of disputes where the following conditions are met :


### this directive establishes minimum rules for criminal sanctions for the most serious market abuse offences , namely insider dealing and market manipulation . ### this directive establishes minimum rules for criminal sanctions for the most serious market abuse offences , namely insider dealing and market manipulation . this directive shall only apply to transactions , orders or behaviours which would fall within regulation no . . . . of the european parliament and the council on insider dealing and market manipulation and which would be prohibited under that regulation .


### when in possession of inside information , using that information to acquire or dispose of financial instruments to which that information relates for one ' s own account or for the account of a third party . this also includes using inside information to cancel or amend an order concerning a financial instrument to which that information relates where that order was placed before entering into possession of that inside information ; or ### when the person concerned is in possession of inside information and knows that the information is inside information , using that information to acquire or dispose of financial instruments to which that information relates for one ' s own account or for the account of a third party . this also includes using inside information to cancel or amend an order concerning a financial instrument to which that information relates where that order was placed before entering into possession of that inside information ; or


### disclosing inside information to any other person , unless such disclosure is made in the lawful course of the exercise of duties resulting from employment or profession . ### when the person concerned is in possession of inside information and knows that the information is inside information , disclosing inside information to any other person , unless such disclosure is made in the lawful course of the exercise of duties resulting from employment or profession .


### it is also appropriate to provide definitions of “watercraft built for own use” and of “private importer” specific to this sector in order to facilitate the understanding and uniform application of this directive . ### it is also appropriate to provide definitions of ' watercraft built for own use ' and of ' private importer ' specific to this sector in order to facilitate the understanding and uniform application of this directive with regard to all of the environmental requirements arising from said directive .


### member states should lay down rules on penalties applicable to infringements of this directive and ensure that they are implemented . those penalties should be effective , proportionate and dissuasive . ### member states should lay down rules on penalties applicable to infringements of this directive and ensure that they are implemented by services clearly designated for that purpose or by a service of a member state . those penalties should be effective , proportionate and dissuasive , and they should be applied without undue delay .


### additional bans on the placing on the market of new equipment for refrigeration , air - conditioning and fire protection that operate using specific fluorinated greenhouse gases should be introduced where suitable alternatives to the use of those substances are available . in the light of future technical developments and the availability of cost - efficient alternatives to the use of fluorinated greenhouse gases , the commission should be empowered to include other products and equipment or to exclude , also temporarily , certain categories of products or equipment for which alternative substances which fall below the specified global warming potential limit are not available for technical or economic reasons , including insufficient supply of alternative substances on the market to meet the demand , or due to applicable safety standards excluding the use of relevant alternatives . ### additional bans on the placing on the market of new equipment for refrigeration , air - conditioning and fire protection that operate using specific fluorinated greenhouse gases should only be introduced where suitable alternatives to the use of those substances are available . in the light of future technical developments and the availability of cost - efficient alternatives to the use of fluorinated greenhouse gases , the commission should be empowered to exclude certain categories of products or equipment for which alternative substances which fall below the specified global warming potential limit are temporarily not available for technical or economic reasons , including insufficient supply of alternative substances on the market to meet the demand , or due to applicable safety standards excluding the use of relevant alternatives .


### such bans should only be introduced where they will result in lower overall greenhouse gas emissions , in particular from both the leakage of any fluorinated greenhouse gases and the co2 emissions resulting from their energy consumption . equipment containing fluorinated greenhouse gases should thus be allowed if their overall greenhouse gas emissions are less than those that would result from an equivalent equipment without fluorinated greenhouse gases , which has the maximum allowed energy consumption set out in relevant implementing measures adopted under directive 2009 / 125 / ec . ### such bans should only be introduced where they will result in significantly lower overall greenhouse gas emissions , in particular from both the leakage of any fluorinated greenhouse gases and the co2 emissions resulting from their energy consumption . equipment containing fluorinated greenhouse gases should thus be allowed if their overall greenhouse gas emissions are less than those that would result from an equivalent equipment without fluorinated greenhouse gases , which has the maximum allowed energy consumption set out in relevant implementing measures adopted under directive 2009 / 125 / ec .


### gradually reducing the placing on the market of hydrofluorocarbons has been identified as the most effective , cost - efficient way of reducing emissions of those substances in the long term . ### gradually reducing the placing on the market of the eu of hydrofluorocarbons has been identified as the most effective , cost - efficient way of reducing emissions of those substances in the long term .


### to implement the gradual reduction of the placing on the market of hydrofluorocarbons , the commission should allocate quotas to individual producers and importers for placing them on the market in order that the overall quantitative limit for placing hydrofluorocarbons on the market in the union is not exceeded . ### to implement the gradual reduction of the placing on the market of the eu of hydrofluorocarbons , the commission should allocate quotas to individual producers and importers for placing them on the market in order that the overall quantitative limit for placing hydrofluorocarbons on the market in the union is not exceeded . the gradual reduction shall not concern hydrofluorocarbons used for specific purposes where alternative substances are not available for technical , economic or safety reasons .


### where a leakage of those gases is detected , the operators shall ensure that the equipment is repaired without undue delay . ### where a leakage of the sf6 gases is detected , the operators shall ensure that equipment is repaired without undue delay , as long as the service security and the technical conditions allow it and that the environmental impact of this repair is acceptable


### this paragraph shall apply to operators of electrical switchgear that contains sf6 and of the equipment referred to in article 3 . ### this paragraph shall apply to operators of electrical switchgear that contains sf6 and to operators of the equipment referred to in article 3 .


### this paragraph shall apply to operators of electrical switchgear that contains sf6 and of the equipment referred to in article 3 . ### this paragraph shall apply to operators of electrical switchgear that contains sf6 and of the equipment referred to in article 3 . in the case of hermetically sealed sf6 mv switchgear only and shall apply .


### member states shall establish training and certification programmes for the following persons : ### member states shall establish certification programmes for the following persons :


### member states shall establish training and certification programmes for the following persons : ### member states shall establish training and examination programmes for the following persons :


### persons who install , service , maintain , repair or decommission of the equipment listed in the third subparagraph of article 3 ; ### persons who install , service , maintain , repair or decommission of the equipment listed in the third subparagraph of article 3 including when such equipment contains alternatives to fluorinated greenhouse gases ;


### the placing on the market of specific products and equipment listed in annex iii shall be prohibited from the date specified in that annex , where applicable differentiating according to the type or global warming potential of the fluorinated greenhouse gas contained . ### the placing on the market of specific products and equipment containing or relying on fluorinated greenhouse gases listed in annex iii shall be prohibited from the date specified in that annex , where applicable differentiating according to the type or global warming potential of the fluorinated greenhouse gas contained .


### the commission shall ensure that the quantity of hydrofluorocarbons that producers and importers are entitled to place on the market in the union each year does not exceed the maximum quantity for the year in question calculated in accordance with annex v . each producer and importer shall ensure that the quantity of hydrofluorocarbons calculated in accordance with annex v that it places on the market does not exceed the quota allocated to it pursuant to article 14 or transferred to it pursuant to article 16 . ### the commission shall ensure that the quantity of hydrofluorocarbons as listed in annexes i and ii that producers and importers of hydrofluorocarbons or products containing hydrofluorocarbons are entitled to place on the market in the union each year does not exceed the maximum quantity for the year in question calculated in accordance with annex v . each producer and importer of hydrofluorocarbons or products containing hydrofluorocarbons shall ensure that the quantity of hydrofluorocarbons calculated in accordance with annex v that it places on the market does not exceed the quota allocated to it pursuant to article 14 or transferred to it pursuant to article 16 .


### the commission shall ensure that the quantity of hydrofluorocarbons that producers and importers are entitled to place on the market in the union each year does not exceed the maximum quantity for the year in question calculated in accordance with annex v . each producer and importer shall ensure that the quantity of hydrofluorocarbons calculated in accordance with annex v that it places on the market does not exceed the quota allocated to it pursuant to article 14 or transferred to it pursuant to article 16 . ### the commission shall ensure , where alternatives which are reliable and technically and economically viable and are designed to operate in the different climatic conditions of the member states are available , that the quantity of hydrofluorocarbons that producers and importers are entitled to place on the market in the union each year does not exceed the maximum quantity for the year in question calculated in accordance with annex v . each producer and importer shall ensure that the quantity of hydrofluorocarbons calculated in accordance with annex v that it places on the market does not exceed the quota allocated to it pursuant to article 14 or transferred to it pursuant to article 16 .


### by 31 october 2014 the commission shall determine , by means of implementing decisions , for each producer or importer having reported data under article 6 of regulation no 842 / 2006 a reference value based on the annual average of the quantities of hydrofluorocarbons the producer or importer reported to have produced or imported from 2008 to 2011 . for the purposes of determining the reference value , no account shall be taken of quantities reported in excess of the quota . the reference values shall be calculated in accordance with annex v to this regulation . ### by 31 october 2014 the commission shall determine , by means of implementing decisions , for each producer or importer having reported data under article 6 of regulation no 842 / 2006 a reference value based on the annual average of the quantities of hydrofluorocarbons the producer or importer reported to have placed on the eu market from 2008 to 2011 . for the purposes of determining the reference value , no account shall be taken of quantities reported in excess of the quota . the reference values shall be calculated in accordance with annex v to this regulation .


### by 31 march 2014 and every year after that , each producer , importer and exporter that produced , imported or exported more than one metric tonne or 1&#160 ; 000 tonnes of co2 equivalent of fluorinated greenhouse gases and gases listed in annex ii during the preceding calendar year shall report to the commission the data specified in annex vii on each of those substances for that calendar year . ### by 31 march 2014 and every year after that , each undertaking that produced , imported or exported more than 1&#160 ; 000 tonnes of co2 equivalent of fluorinated greenhouse gases during the preceding calendar year shall report to the commission the data specified in annex vii on each of those substances for that calendar year .


### sanctions in the preventive part of the stability and growth pact ### incentives and sanctions in the preventive part of the stability and growth pact


### if the council addresses to a member state a recommendation in accordance with article 121 of the treaty to take the necessary adjustment measures in the event of persisting or particularly serious and significant deviations from prudent fiscal policy - making as laid down in article 6 of regulation no 1466 / 97 , the lodging of an interest bearing deposit shall be imposed by the council , acting on a proposal from the commission . the decision shall be deemed to be adopted by the council unless it decides by qualified majority to reject the proposal within ten days of the commission adopting it . the council may amend the proposal in accordance with article 293 of the treaty . ### if the council addresses to a member state a recommendation in accordance with article 121 of the treaty to take the necessary adjustment measures in the event of persisting or particularly serious and significant deviations from prudent fiscal policy - making as laid down in article 6 of regulation no 1466 / 97 , the lodging of an interest bearing deposit shall be imposed by the commission .


### if the council decides in accordance with article 126 of the treaty that an excessive deficit exists in a member state , the lodging of a non - interest - bearing deposit shall be imposed by the council , acting on a proposal from the commission . the decision shall be deemed adopted by the council unless it decides by qualified majority to reject the proposal within ten days of the commission adopting it . the council may amend the proposal in accordance with article 293 of the treaty . ### if the council decides in accordance with article 126 of the treaty that an excessive deficit exists in a member state , the lodging of a non - interest - bearing deposit shall be imposed by the commission .


### if the council decides in accordance with article 126 of the treaty that an excessive deficit exists in a member state , the lodging of a non - interest - bearing deposit shall be imposed by the council , acting on a proposal from the commission . the decision shall be deemed adopted by the council unless it decides by qualified majority to reject the proposal within ten days of the commission adopting it . the council may amend the proposal in accordance with article 293 of the treaty . ### if the council decides in accordance with article 126 tfeu that an excessive deficit or excessive government debt exist in a member state , the lodging of a non - interest - bearing deposit shall be imposed by the council , acting on a proposal from the commission and after consulting the european parliament . the decision shall be deemed adopted by the council unless it decides by qualified majority to reject the proposal within ten days of the commission adopting it . the council may amend the proposal in accordance with article 293 tfeu .


### if the council decides in accordance with article 126 of the treaty that the member state has not taken effective action in response to a council recommendation within the period laid down , the council , acting on a proposal from the commission , shall decide that the member state shall pay a fine . the decision shall be deemed adopted by the council unless it decides by qualified majority to reject the proposal within ten days of the commission adopting it . the council may amend the proposal in accordance with article 293 of the treaty . ### if the council decides in accordance with article 126 tfeu that the member state has not taken effective action in response to a council recommendation within the period laid down , the council , acting on a proposal from the commission and after consulting the european parliament , while taking due account of article 9 tfeu , in particular with regard to the promotion of a high level of employment , the guarantee of adequate social protection and the fight against social exclusion and of the union ' s growth and jobs objectives , shall decide that the member state shall pay a fine . the decision shall be deemed adopted by the council unless it decides by qualified majority to reject the proposal within ten days of the commission adopting it . the council may amend the proposal in accordance with article 293 tfeu .


### the esf should improve employment opportunities , promote education and life - long learning and develop active inclusion policies in accordance with the tasks entrusted to the esf by article 162 of the treaty , and thereby contribute to economic , social and territorial cohesion in accordance with article 174 of the treaty . in accordance with article 9 of the treaty , the esf should take into account requirements linked to the promotion of a high level of employment , the guarantee of adequate social protection , the fight against social exclusion , and a high level of education , training and protection of human health . ### the esf should improve employment opportunities and workers’ geographical and professional mobility , as well as facilitate their adaptation to industrial change and changes in production systems , in particular through vocational training and retraining , in accordance with the tasks entrusted to the esf by article 162 of the treaty , and furthermore thereby contribute to economic , social and territorial cohesion in accordance with that set out in article 174 of the tfeu . it shall pay special attention to the outermost regions , as set out in article 349 of the tfeu , also taking into account that these regions are those most affected by the crisis , in terms of employment . in accordance with article 9 of the tfeu , the union should take into account in the drafting and execution of its policies and actions the requirements linked to the promotion of a high level of employment , the guarantee of adequate social protection , the fight against social exclusion , and a high level of education , training and protection of human health .


### the esf should improve employment opportunities , promote education and life - long learning and develop active inclusion policies in accordance with the tasks entrusted to the esf by article 162 of the treaty , and thereby contribute to economic , social and territorial cohesion in accordance with article 174 of the treaty . in accordance with article 9 of the treaty , the esf should take into account requirements linked to the promotion of a high level of employment , the guarantee of adequate social protection , the fight against social exclusion , and a high level of education , training and protection of human health . ### the esf should improve employment opportunities , support integration in the labour market , stimulate increased european labour mobility , encourage a culture of entrepreneurship , promote education and life - long learning and develop active inclusion policies in accordance with the tasks entrusted to the esf by article 162 of the treaty , and thereby contribute to economic , social and territorial cohesion in accordance with article 174 of the treaty and minimise obstacles arising from factors mentioned in article 349 of the treaty . in accordance with article 9 of the treaty , the esf should take into account requirements linked to the promotion of a high level of employment , the guarantee of adequate social protection , the fight against social exclusion , and a high level of education , training and protection of human health .


### the european union is confronted with structural challenges arising from economic globalisation , technological change and an increasingly ageing workforce and growing skills and labour shortages in some sectors and regions . they have been compounded by the recent economic and financial crisis , which has resulted in increased levels of unemployment , hitting in particular young people and other vulnerable groups , such as migrants . the esf should aim to promote employment and support labour mobility , invest in education , skills and life - long learning , promote social inclusion and combat poverty . in promoting the better functioning of labour markets by enhancing the transnational geographical mobility of workers , the esf should , in particular , support european employment services in relation to recruitment and the related information , advice and guidance services at national and cross - border level . ### the european union is confronted with structural challenges arising from economic globalisation , technological change and an increasingly ageing workforce and growing skills and labour shortages in some sectors and regions . they have been compounded by the recent economic and financial crisis , which has resulted in increased levels of unemployment , hitting in particular young people and other vulnerable groups , such as women and migrants . the esf should aim to promote employment and support labour mobility , invest in education , research , skills and life - long learning , promote social inclusion and combat poverty and homelessness . in promoting the better functioning of labour markets by enhancing the transnational geographical mobility of workers , the esf should , in particular , support european employment services in relation to recruitment and the related information , advice and guidance services at national and cross - border level .