### eib activity in neighbourhood countries should take place in the framework of the european neighbourhood policy , under which the eu aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness , founded on the values of the eu and characterised by close and peaceful relations based on co - operation . to achieve these objectives the eu and its partners implement jointly agreed bilateral action plans defining a set of priorities including on political and security issues , trade and economic matters , environmental concerns and integration of transport and energy networks . the union for the mediterranean , the eastern partnership , and the black sea synergy are multilateral and regional initiatives complementary to the european neighbourhood policy aimed at fostering co - operation between the eu and the respective group of neighbouring partner countries facing common challenges and / or sharing a common geographical environment . the union for the mediterranean supports improved socio - economic , solidarity , regional integration , sustainable development and knowledge building , underlining the need to increase financial co - operation to support regional and trans - national projects . the eastern partnership aims to create the necessary conditions to accelerate political association and further economic integration between the eu and eastern partner countries . the russian federation and the eu have a wide - ranging strategic partnership , distinct from the european neighbourhood policy and expressed through the common spaces and roadmaps . this is complemented at multilateral level by the northern dimension which provides a framework for co - operation between the eu , russia , norway and iceland . ### eib activity in neighbourhood countries should take place in the framework of the european neighbourhood policy , under which the eu aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness , founded on the values of the eu , such as democracy , the rule of law , good governance and respect for human rights , and characterised by close and peaceful relations based on co - operation . to achieve these objectives the eu and its partners implement jointly agreed bilateral action plans defining a set of priorities including on political and security issues , trade and economic matters , environmental concerns and integration of transport and energy networks . the union for the mediterranean , the eastern partnership , and the black sea synergy are multilateral and regional initiatives complementary to the european neighbourhood policy aimed at fostering co - operation between the eu and the respective group of neighbouring partner countries facing common challenges and / or sharing a common geographical environment . the union for the mediterranean supports improved socio - economic , solidarity , regional integration , sustainable development and knowledge building , underlining the need to increase financial co - operation to support regional and trans - national projects . the eastern partnership aims to create the necessary conditions to accelerate political association and further economic integration between the eu and eastern partner countries . the russian federation and the eu have a wide - ranging strategic partnership , distinct from the european neighbourhood policy and expressed through the common spaces and roadmaps . this is complemented at multilateral level by the northern dimension which provides a framework for co - operation between the eu , russia , norway and iceland .


### eib activity in neighbourhood countries should take place in the framework of the european neighbourhood policy , under which the eu aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness , founded on the values of the eu and characterised by close and peaceful relations based on co - operation . to achieve these objectives the eu and its partners implement jointly agreed bilateral action plans defining a set of priorities including on political and security issues , trade and economic matters , environmental concerns and integration of transport and energy networks . the union for the mediterranean , the eastern partnership , and the black sea synergy are multilateral and regional initiatives complementary to the european neighbourhood policy aimed at fostering co - operation between the eu and the respective group of neighbouring partner countries facing common challenges and / or sharing a common geographical environment . the union for the mediterranean supports improved socio - economic , solidarity , regional integration , sustainable development and knowledge building , underlining the need to increase financial co - operation to support regional and trans - national projects . the eastern partnership aims to create the necessary conditions to accelerate political association and further economic integration between the eu and eastern partner countries . the russian federation and the eu have a wide - ranging strategic partnership , distinct from the european neighbourhood policy and expressed through the common spaces and roadmaps . this is complemented at multilateral level by the northern dimension which provides a framework for co - operation between the eu , russia , norway and iceland . ### eib activity in neighbourhood countries should take place in the framework of the european neighbourhood policy , under which the eu aims to develop a special relationship with neighbouring countries with a view to establishing an area of prosperity and good neighbourliness , founded on the values of the eu and characterised by close and peaceful relations based on co - operation . to achieve these objectives the eu and its partners implement jointly agreed bilateral action plans defining a set of priorities including on political and security issues , trade and economic matters , environmental concerns and integration of transport and energy networks . the union for the mediterranean , the eastern partnership , and the black sea synergy are multilateral and regional initiatives which integrate the european neighbourhood policy aimed at fostering co - operation between the eu and the respective group of neighbouring partner countries facing common challenges and / or sharing a common geographical environment . the union for the mediterranean aims to relaunch the euro - mediterranean integration process by supporting mutual economic , social and environmental development on both sides of the mediterranean , underlining the need to increase financial co - operation to support regional and trans - national projects . the union for the mediterranean supports , in particular , the creation of maritime and land highways , the de - pollution of the mediterranean , the mediterranean solar energy plan , the mediterranean business development initiative , civil protection initiatives and the euro - mediterranean university . the eastern partnership aims to create the necessary conditions to accelerate political association and further economic integration between the eu and eastern partner countries . the russian federation and the eu have a wide - ranging strategic partnership , distinct from the european neighbourhood policy and expressed through the common spaces and roadmaps . this is complemented at multilateral level by the northern dimension which provides a framework for co - operation between the eu , russia , norway and iceland .


### with a view to enhancing the coherence of overall eu support in the regions concerned , opportunities should be sought to combine eib financing with eu budgetary resources when and as appropriate , in the form e . g . of guarantees , risk capital and interest rate subsidies , investment co - financing , alongside technical assistance for project preparation and implementation , through the ipa , the enpi , the instrument for stability , the eidhr and the dci . ### with a view to enhancing the coherence of overall eu support in the regions concerned , opportunities should be found to combine eib financing with eu budgetary resources when and as appropriate , in the form e . g . of guarantees , risk capital and interest rate subsidies , investment co - financing , alongside technical assistance for project preparation and implementation , through the ipa , the enpi , the instrument for stability , the eidhr and the dci .


### at all levels , from upstream strategic planning to downstream project development , it should be ensured that eib external financing operations comply with and support eu external policies and the high - level objectives set out in this decision . with a view to increasing the coherence of eu external actions , dialogue on policy and strategy should be further strengthened between the commission , the eeas and the eib . to the same end , there should be enhanced cooperation and early mutual exchange of information between the eib the commission at operational level . it is of particular importance to have an early exchange of views between the eib , the commission and the eeas , as appropriate , in the process of preparing programming documents in order to maximise synergies between eib activities and those implemented by the commission . ### at all levels , from upstream strategic planning to downstream project development , it should be ensured that eib external financing operations comply with and support eu external policies and the high - level objectives set out in this decision . with a view to increasing the coherence of eu external actions , dialogue on policy and strategy should be further strengthened between the commission , the eeas and the eib . in particular , the commission should have longer to examine the compliance of projects proposed by the eib with the requirements of the current mandate . to the same end , there should be enhanced cooperation and early mutual exchange of information between the eib and the commission at operational level . eib offices outside the eu should , where appropriate , be located within eu delegations in order to improve this cooperation and share operating costs . it is of particular importance to have an early exchange of views between the eib , the commission and the eeas , as appropriate , in the process of preparing programming documents in order to maximise synergies between the activities of the eib , the eeas and the commission .


### the commission should study the development of an ' eu platform for cooperation and development ' with a view to optimising the functioning of mechanisms for the blending of grants and loans in the external regions . in its reflections the commission should consult the eib as well as the other european multilateral and bilateral finance institutions . such a platform would continue to promote mutual reliance arrangements , based on the comparative advantage of the different institutions while respecting the role and prerogatives of the eu institutions in the implementation of the eu budget and of eib loans . ### the commission should study the development of an ' eu platform for cooperation and development ' with a view to optimising and rationalising the functioning of mechanisms for increased blending of grants and loans in the external regions . in its reflections the commission should consult the eib as well as the other european multilateral and bilateral finance institutions . such a platform should promote , under the direction of the commission , synergies , concerted programming and mutual reliance arrangements , based on the comparative advantage of the different institutions while respecting the role and prerogatives of the eu institutions in the implementation of the eu budget and of eib loans . the platform should also give consideration to the necessary changes in the european institutional architecture for development financing by 2014 .


### the eib should be encouraged to increase its operations outside the eu without recourse to the eu guarantee in order to support eu external policy objectives , particularly in pre - accession countries and neighbourhood countries and in investment grade countries in other regions , but also in sub - investment grade countries when the eib has the appropriate third party guarantees . in consultation with the commission , the eib should develop a policy for deciding between the allocation of projects to either the mandate under eu guarantee or to eib own risk financing . such a policy would notably take into account the creditworthiness of the countries and projects concerned . ### the eib should be encouraged to increase its operations outside the eu without recourse to the eu guarantee so that use of the guarantee can be reserved for countries and projects with the poorest access to the market and where the guarantee therefore provides higher added value . consequently , and always with the aim of supporting the objectives of the eu ' s external relations policy , the eib should increase the amounts loaned at its own risk , particularly in pre - accession countries and neighbourhood countries and in investment grade countries in other regions , but also in sub - investment grade countries when the eib has the appropriate third party guarantees . in agreement with the commission , the eib should develop a policy for deciding between the allocation of projects to either the mandate under eu guarantee or to eib own risk financing . such a policy would notably take into account the creditworthiness of the countries and projects concerned . when the external mandate is renewed for the 2014 - 2020 period , this policy should be reviewed and the list of countries eligible under the guarantee re - examined .


### in order to ensure that the bank meets the requirements of the mandate across regions and sub - regions , sufficient human and financial resources will need to be devoted to the eib ' s external activities . this would notably include having sufficient capacity to support eu development cooperation objectives , to increase focus on ex ante appraisal of the environmental , social and development aspects of its activities , and to effectively monitor projects during implementation . ### in order to ensure that the bank meets the requirements of the mandate across regions and sub - regions , it must devote sufficient human and financial resources , within reasonable time limits , to its external activities , particularly in the intervention countries . this would notably include having sufficient capacity to support eu development cooperation objectives , to increase focus on ex ante appraisal of the environmental , social and development aspects of its activities , and to effectively and directly monitor projects during implementation .


### in its financing operations outside the eu that fall within the scope of this decision , the eib should endeavour to further enhance coordination and cooperation with ifis and ebfis where relevant , including , where appropriate , cooperation on sector conditionality and mutual reliance on procedures , use of joint co - financing and participation in global initiatives , such as those promoting aid coordination and effectiveness . the above efforts are to be based on reciprocity between eib and other institutions and require an equivalent effort by the eib and other financial institutions to be implemented effectively . in particular , the modalities for the implementation of eib financing in the eastern neighbourhood and partnership countries , central asia and turkey are set out in tripartite memoranda of understanding between the commission , the eib and the european bank for reconstruction and development . ### in its financing operations outside the eu that fall within the scope of this decision , the eib should endeavour to further enhance coordination and cooperation with ifis and ebfis , including , where appropriate , cooperation on sector conditionality and mutual reliance on procedures , use of joint co - financing and participation in global initiatives , such as those promoting aid coordination and effectiveness . the above efforts are to be based on reciprocity between eib and other institutions and require an equivalent effort by the eib and other financial institutions to be implemented effectively .


### the reporting and transmission of information by the eib to the commission should be strengthened in order to allow the commission to enhance its annual report to the european parliament and the council on the eib financing operations carried out under this decision . the report should in particular assess the compliance of eib financing operations with this decision , taking into account the operational guidelines , and include sections on added value in line with eu policies and sections on cooperation with the commission , other ifis and bilateral donors , including co - financing . where necessary , the report should include references to significant changes in circumstances that would justify further amendments to the mandate before the end of the period . ### the reporting and transmission of information by the eib to the commission should be strengthened in order to allow the commission to enhance its annual report to the european parliament and the council on the eib financing operations carried out under this decision . the report should in particular assess the compliance of eib financing operations with this decision , taking into account the operational guidelines , and include sections on added value in line with eu policies and sections on cooperation with the commission , other ifis and bilateral donors , including co - financing . the report should also assess the extent to which the eib has taken into account economic , financial , environmental and social sustainability in the design and monitoring of the projects financed . it should also contain a specific section devoted to a detailed evaluation of the measures taken by the eib to comply with the provisions of the current mandate , excluding from the scope of the guarantee all operations which would allow , or contribute directly or indirectly to , any form of tax evasion , and paying particular attention to eib operations using financial vehicles situated in offshore financial centres . where necessary , the report should include references to significant changes in circumstances that would justify further amendments to the mandate before the end of the period .


### eligible for eu guarantee shall be eib loans and loan guarantees for investment projects carried out in countries covered by this decision , granted in accordance with the eib’s own rules and procedures in support of the relevant external policy objectives of the eu , where the eib financing has been granted according to a signed agreement which has neither expired nor been cancelled . ### eligible for eu guarantee shall be eib loans and loan guarantees for investment projects carried out in countries covered by this decision , granted in accordance with the eib’s own rules and procedures in support of the relevant external policy objectives of the eu , where the eib financing has been granted according to a signed agreement which has neither expired nor been cancelled and on condition that they do not directly or indirectly use any financial vehicle which would allow , or contribute to , any form of tax evasion .


### the maximum ceiling of the eib financing operations under eu guarantee throughout the period 2007 - 2013 , less amounts cancelled , shall not exceed eur 27 800 000 000 , broken down into two parts : a general mandate of eur 25&#160 ; 800&#160 ; 000&#160 ; 000 a climate change mandate of eur 2 000 000 000 ### the maximum ceiling of the eib financing operations under eu guarantee throughout the period 2007 - 2013 , less amounts cancelled , shall not exceed eur 29&#160 ; 481&#160 ; 000&#160 ; 000 , broken down into two parts : a general mandate of eur 26&#160 ; 981&#160 ; 000&#160 ; 000 a climate change mandate of eur 2 000 000 000 a microcredit financing mandate of eur 500 000 000


### the eib shall progressively increase its activity in social sectors , such as health and education . ### the eib shall progressively increase its activity in social sectors , such as health and education , particularly as regards vocational training .


### the commission shall develop , together with the eib , regional operational guidelines for eib financing under this decision . in drawing up these guidelines the commission and the eib will consult with the european external action service on policy issues , as appropriate . the operational guidelines aim to ensure that eib financing supports eu policies , and shall take as a starting point the wider eu regional policy framework set by the commission and the eeas , as appropriate . notably , the operational guidelines will ensure that eib financing is complementary to corresponding eu assistance policies , programmes and instruments in the different regions , taking into account european parliament resolutions and council decisions and conclusions . the commission will inform the european parliament and the council of the guidelines established . within the framework set out by the operational guidelines , the eib shall define corresponding financing strategies and ensure their implementation . ### the commission shall develop , together with the eib , regional operational guidelines for eib financing under this decision . in drawing up these guidelines the commission and the eib will consult with the european external action service on policy issues , as appropriate . the operational guidelines aim to ensure that eib financing supports eu policies , and shall take as a starting point the wider eu regional policy framework set by the commission and the eeas , as appropriate . notably , the operational guidelines will ensure that eib financing is complementary to corresponding eu assistance policies , programmes and instruments in the different regions , taking into account european parliament resolutions and council decisions and conclusions . the commission will inform the european parliament and the council in advance of the guidelines that are being established . within the framework set out by the operational guidelines , the eib shall define corresponding financing strategies and ensure their implementation .


### the consistency of eib external actions with the external policy objectives of the eu shall be strengthened , with a view to maximising synergies between eib financing and eu budgetary resources , in particular through the establishment of the operational guidelines referred to in article 5 as well as through regular and systematic dialogue and early exchange of information on : ### the consistency of eib external actions with the external policy objectives of the eu shall be strengthened , with a view to maximising synergies between eib financing and eu budgetary resources , in particular through the establishment of the operational guidelines referred to in article 5 , of which the european parliament shall be informed in advance , as well as through regular and systematic dialogue and early exchange of information on :


### eib financing operations shall increasingly be carried out , where appropriate , in cooperation with other international financial institutions or european bilateral finance institutions , in order to maximize synergies , cooperation and efficiency and to ensure reasonable sharing of risks and coherent project and sector conditionality . ### eib financing operations shall increasingly be carried out in cooperation with other international financial institutions or european bilateral finance institutions , in order to maximize synergies , cooperation and efficiency and to ensure reasonable sharing of risks and coherent project and sector conditionality .


### the cooperation referred to in paragraph 1 shall be facilitated by coordination , carried out notably in the context of memoranda of understanding or other eu regional cooperation frameworks , where appropriate , between the commission , the eib and the main international financial institutions and european bilateral finance institutions operating in the different regions . ### the cooperation referred to in paragraph 1 shall be facilitated by coordination , carried out notably in the context of memoranda of understanding or other eu regional cooperation frameworks , where appropriate , between the commission , the eib and the main international financial institutions and european bilateral finance institutions operating in the different regions , whilst taking into account the competences of the eeas .


### the eib shall , in consultation with the commission , develop a clear and transparent allocation policy for deciding upon the source of financing of operations which are eligible both for coverage by the eu guarantee and for eib own risk financing . ### the eib shall , in agreement with the commission , develop a clear and transparent allocation policy for deciding upon the source of financing of operations which are eligible both for coverage by the eu guarantee and for eib own risk financing .


### the commission shall report annually to the european parliament and the council on eib financing operations carried out under this decision . the report shall include an assessment of eib financing operations at project , sector , country and regional level as well as the contribution of the eib financing operations to the fulfilment of the external policy and strategic objectives of the eu . the report shall in particular assess the compliance of eib financing operations with this decision , taking into account the operational guidelines referred to in article 5 , and shall include sections on added value for the achievement of eu policy objectives as well as on cooperation with the commission and other international financial institutions and bilateral institutions , including co - financing . ### the commission shall report annually to the european parliament and the council on eib financing operations carried out under this decision . the report shall include an assessment of eib financing operations at project , sector , country and regional level as well as the contribution of the eib financing operations to the fulfilment of the external policy and strategic objectives of the eu . the report shall in particular assess the compliance of eib financing operations with this decision , taking into account the operational guidelines referred to in article 5 , and shall include sections on added value for the achievement of eu policy objectives and the extent to which to which the eib has taken into account environmental and social sustainability in the design and monitoring of the projects financed , as well as on cooperation with the commission and other international financial institutions and bilateral institutions , including co - financing . the report shall also contain an assessment of the eib ' s human and material resources policy relating to its activities outside the eu . finally , it shall contain a specific section devoted to a detailed evaluation of the measures taken by the eib to comply with the provisions of article 1 of the current mandate , excluding from the scope of the guarantee all operations which would allow , or contribute directly or indirectly to , any form of tax evasion , and paying particular attention to eib operations using financial vehicles situated in offshore financial centres .


### the eib and the commission shall enter into a guarantee agreement laying down the detailed provisions and procedures relating to the eu guarantee . ### the eib and the commission shall enter into a guarantee agreement laying down the detailed provisions and procedures relating to the eu guarantee and shall inform the european parliament thereof .


### pre - accession countries : eur 8 700 000 000 ; b . neighbourhood and partnership countries : eur 12 400 000 000 ; broken down into the following indicative sub - ceilings : mediterranean countries : eur 8 700 000 000 ; eastern europe , southern caucasus and russia : eur 3 700 000 000 ; c . asia and latin america : eur 3 800 000 000 ; broken down into the following indicative sub - ceilings : latin america : eur 2&#160 ; 800&#160 ; 000&#160 ; 000 ; asia : eur 1 000 000 000 ; d . republic of south africa : eur 900 000 000 . within the regional ceilings of the general mandate , the governing bodies of the eib may decide to reallocate an amount of up to 10 % of the regional ceiling between the indicative sub - regional ceilings . ### pre - accession countries : eur&#160 ; 9&#160 ; 166&#160 ; 000&#160 ; 000 ; b . neighbourhood and partnership countries : eur 12 400 000 000 ; broken down into the following indicative sub - ceilings : mediterranean countries : eur&#160 ; 9&#160 ; 114&#160 ; 000&#160 ; 000 ; eastern europe , southern caucasus and russia : eur 3 964 000 000 ; c . asia and latin america : eur 3 800 000 000 ; broken down into the following indicative sub - ceilings : latin america : eur 2&#160 ; 800&#160 ; 000&#160 ; 000 ; asia : eur 1 037 000 000 ; d . republic of south africa : eur 900 000 000 . within the regional ceilings of the general mandate , the governing bodies of the eib may decide to reallocate an amount of up to 10 % of the regional ceiling between the indicative sub - regional ceilings .


### croatia , turkey , the former yugoslav republic of macedonia . ### croatia , turkey , the former yugoslav republic of macedonia , iceland .


### albania , bosnia and herzegovina , montenegro , serbia , kosovo under united nations security council resolution 1244 , iceland . ### albania , bosnia and herzegovina , montenegro , serbia , kosovo under united nations security council resolution 1244 .


### provisions should be established to ensure that only high - quality non - promotional information about the benefits and the risks of medicinal products subject to medical prescription may be disseminated . the information should take into account patients needs and expectations in order to empower patients , allow informed choices and enhance the rational use of medicinal products . therefore , any information to the general public on prescription - only medicinal products should comply with a set of quality criteria . ### provisions should be established to ensure that only high - quality non - promotional information about the benefits and the risks of authorised medicinal products subject to medical prescription may be made available . the information should take into account patients’ needs and expectations in order to empower patients , allow informed choices and enhance the rational use of medicinal products . therefore , any information to the general public on prescription - only medicinal products should comply with a set of quality criteria .


### written answers to requests for information of a member of the general public . ### answers to requests for information from a member of the general public . verbal questions must be recorded .


### massive flows of dirty money can damage the stability and reputation of the financial sector and threaten the single market , and terrorism shakes the very foundations of our society . in addition to the criminal law approach , a preventive effort via the financial system can produce results . ### massive flows of dirty money can damage the stability and reputation of the financial sector and threaten the single market , and terrorism shakes the very foundations of our society . in addition to further developing the criminal law approach at eu level , prevention via the financial system is indispensable and complementary .


### the soundness , integrity and stability of credit and financial institutions and confidence in the financial system as a whole could be seriously jeopardised by the efforts of criminals and their associates either to disguise the origin of criminal proceeds or to channel lawful or unlawful money for terrorist purposes . in order to facilitate their criminal activities , money launderers and terrorist financers could try to take advantage of the freedom of capital movements and the freedom to supply financial services which the integrated financial area entails , if certain coordinating measures are not adopted at union level . ### the soundness , integrity and stability of credit and financial institutions and confidence in the financial system as a whole could be seriously jeopardised by the efforts of criminals and their associates either to disguise the origin of criminal proceeds or to channel lawful or unlawful money for terrorist purposes . in order to facilitate their criminal activities , money launderers and terrorist financers could try to take advantage of the freedom of capital movements and the freedom to supply financial services which the integrated financial area entails . therefore , certain coordinating measures are necessary at union level .


### in order to better understand and mitigate risks at european union level , member states should share the results of their risk assessments with each other , the commission and eba , eiopa and esma , where appropriate . ### in order to better understand and mitigate risks at european union level , a supranational risk analysis should be carried out , so the risks of money laundering and terrorist financing to which the internal market is exposed can be identified effectively . the commission should require the member states to deal with scenarios considered to be high - risk in an effective way . furthermore , member states should share the results of their risk assessments with each other , the commission and eba , eiopa and esma , where appropriate .


### in the case of agency or outsourcing relationships on a contractual basis between obliged entities and external natural or legal persons not covered by this directive , any anti money laundering and anti - terrorist financing obligations for those agents or outsourcing service providers as part of the obliged entities , may only arise from contract and not from this directive . the responsibility for complying with this directive should remain with the obliged entity covered hereby . ### in the case of agency or outsourcing relationships on a contractual basis between obliged entities and external natural or legal persons not covered by this directive , any anti money laundering and anti - terrorist financing obligations for those agents or outsourcing service providers as part of the obliged entities , may only arise from contract and not from this directive . the responsibility for complying with this directive should remain with the obliged entity primarily . in addition , member states should ensure that any such third parties may be held liable for breaches of national provisions adopted pursuant to this directive .


### the fight against money - laundering and terrorist financing is recognised as an important public interest ground by all member states . ### the fight against money - laundering and terrorist financing is recognised as an important public interest ground by all member states . the eradication of such phenomena requires a resolute political will and cooperation at all levels .


### feedback should , where practicable , be made available to obliged entities on the usefulness and follow - up of the suspicious transactions reports they present . to make this possible , and to be able to review the effectiveness of their systems to combat money laundering and terrorist financing member states should keep and improve the relevant statistics . to further enhance the quality and consistency of the statistical data collected at union level , the commission should keep track of the eu - wide situation with respect to the fight against money laundering and terrorist financing and publish regular overviews . ### feedback should , whenever possible , be made available to obliged entities on the usefulness and follow - up of the suspicious transactions reports they present . to make this possible , and to be able to review the effectiveness of their systems to combat money laundering and terrorist financing member states should keep and improve the relevant statistics . to further enhance the quality and consistency of the statistical data collected at union level , the commission should keep track of the eu - wide situation with respect to the fight against money laundering and terrorist financing and publish regular overviews .


### all offences , including tax crimes related to direct taxes and indirect taxes , which are punishable by deprivation of liberty or a detention order for a maximum of more than one year or , as regards those states which have a minimum threshold for offences in their legal system , all offences punishable by deprivation of liberty or a detention order for a minimum of more than six months ; ### all offences , including tax crimes related to direct taxes and indirect taxes , which are punishable by deprivation of liberty or a detention order for a maximum of one year or more or , as regards those states which have a minimum threshold for offences in their legal system , all offences punishable by deprivation of liberty or a detention order for a minimum of six months ;


### ' domestic politically exposed persons ' means natural persons who are or who have been entrusted by a member state with prominent public functions ; ### ‘ domestic exposed persons’ means natural persons who are or who have been entrusted by a member state with prominent political , commercial or administrative functions ;


### members of the administrative , management or supervisory bodies of state owned enterprises . ### members of the administrative , management or supervisory bodies of state - owned and private enterprises and all types of foundations and other religious and secular associations and establishments .


### the european banking authority , european insurance and occupational pensions authority and european securities and markets authority shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market . ### the commission shall take all appropriate measures to identify , understand and assess the risks of money laundering and terrorist financing affecting the internal market , with particular reference to cross - border activities , in cooperation with europol , the committee of european financial intelligence units , the european banking authority , european insurance and occupational pensions authority and european securities and markets authority and any other competent authority . 2 . the commission shall : - ensure that risk assessments are updated - make the results of these assessments available to the member states , europol , the committee of european financial intelligence units , eba , eiopa , esma and any other competent authority , in accordance with paragraph 1 ; - make the results of these assessments accessible to those working in occupations liable to use electronic money so they can carry out and administer their own assessment of the money laundering and terrorist financing risks affecting the internal market . 3 . in order to respond to the risks identified and to determine the appropriate diligence measures to be implemented , the commission shall adopt the acts needed , in accordance with the procedure laid down in regulation no 182 / 2011 . 4 . the commission shall be assisted by the committee on the prevention of money laundering and terrorist financing . the committee shall be heard in accordance with the provisions of regulation no 182 / 2011 . 5 . member states may implement more stringent measures than those provided for in paragraph 4 .


### the european banking authority , european insurance and occupational pensions authority and european securities and markets authority shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market . ### the commission shall submit a report on the money laundering and terrorist financing risks affecting the internal market to the european parliament and the council within 18 months from the date of entry into force of this directive . the commission ' s report shall cover at least the following aspects : identification of the areas of the internal market at greater risk of money laundering and terrorist financing ; money laundering and terrorist financing risks outside the financial sector ; the role of eur 500 notes in criminal activities and money laundering and the impact of a possible discontinuation of the issuing of eur 500 notes in the eurozone ; risks related to gambling services . for the purposes of subparagraph 1 , the european banking authority , european insurance and occupational pensions authority and european securities and markets authority shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market within one year from the date of entry into force of this directive .


### in carrying out the assessments referred to in paragraph 1 , member states may make use of the opinion referred to in article 6 . ### in carrying out the assessments referred to in paragraph 1 , member states shall take account of the report and the opinions referred to in article 6 and shall inform the commission , where appropriate , of any variations noticed when carrying out the assessments referred to in paragraph 1 .


### make appropriate information available to obliged entities to carry out their own money laundering and terrorist financing risk assessments . ### make the required information available to obliged entities to carry out their own money laundering and terrorist financing risk assessments and develop appropriate policies , controls and procedures to mitigate and manage risks .


### member states shall prohibit their credit and financial institutions from keeping anonymous accounts or anonymous passbooks . member states shall in all cases require that the owners and beneficiaries of existing anonymous accounts or anonymous passbooks be made the subject of customer due diligence measures as soon as possible and in any event before such accounts or passbooks are used in any way . ### member states shall prohibit their credit and financial institutions from keeping anonymous accounts , anonymous passbooks or issuing anonymous payment cards . member states shall in all cases require that the owners and beneficiaries of existing anonymous accounts , anonymous passbooks or anonymous payment cards be made the subject of customer due diligence measures as soon as possible and in any event before such accounts or passbooks are used in any way .


### identifying the beneficial owner and taking reasonable measures to verify his identity so that the institution or person covered by this directive is satisfied that it knows who the beneficial owner is , including , as regards legal persons , trusts and similar legal arrangements , taking reasonable measures to understand the ownership and control structure of the customer ; ### identifying the beneficial owner and taking the necessary measures to verify his identity so that the institution or person covered by this directive is satisfied that it knows who the beneficial owner is , including , as regards legal persons , trusts and similar legal arrangements , taking reasonable measures to understand the ownership and control structure of the customer ;


### conducting ongoing monitoring of the business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the institution ' s or person ' s knowledge of the customer , the business and risk profile , including , where necessary , the source of funds and ensuring that the documents , data or information held are kept up - to - date . ### conducting monitoring of the business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the institution ' s or person ' s knowledge of the customer , the business and risk profile , including , where necessary , the source of funds and ensuring that the documents , data or information held are kept up - to - date .


### member states shall ensure that obliged entities carry out sufficient monitoring of the transaction or business relationship to enable the detection of unusual or suspicious transactions . ### member states shall ensure that obliged entities carry out sufficient monitoring of the transactions or business relationships to enable the detection of unusual or suspicious transactions .


### obliged entities shall take reasonable measures to determine whether the beneficiaries of a life or other investment related insurance policy and / or , where required , the beneficial owner of the beneficiary are politically exposed persons . those measures shall be taken at the latest at the time of the payout or at the time of the assignment , in whole or in part , of the policy . where there are higher risks identified , in addition to taking normal customer due diligence measures , member states shall require obliged entities to : ### obliged entities shall take reasonable measures to determine whether the beneficiaries of a life or other investment related insurance policy and / or , where required , the beneficial owner of the beneficiary are exposed persons . those measures shall be taken at the latest at the time of the payout or at the time of the assignment , in whole or in part , of the policy . where there are higher risks identified , in addition to taking normal customer due diligence measures , member states shall require obliged entities to :


### the measures referred to in articles 18 , 19 and 20 shall also apply to family members or persons known to be close associates of such politically exposed persons . ### the measures referred to in articles 18 , 19 and 20 shall also apply to family members or persons known to be close associates of such exposed persons .


### where a person referred to in articles 18 , 19 and 20 has ceased to be entrusted with a prominent public function by a member state or a third country or with a prominent function by an international organisation , obliged entities shall be required to consider the continuing risk posed by that person and to apply such appropriate and risk - sensitive measures until such time as that person is deemed to pose no further risk . this period of time shall not be less than 18 months . ### where a person referred to in articles 18 , 19 and 20 has ceased to be entrusted with a prominent function by a member state or a third country or with a prominent function by an international organisation , obliged entities shall be required to consider the continuing risk posed by that person and to apply such appropriate and risk - sensitive measures until such time as that person is deemed to pose no further risk . this period of time shall not be less than 18 months .


### member states may permit the obliged entities to rely on third parties to meet the requirements laid down in article 11 , and . however , the ultimate responsibility for meeting those requirements shall remain with the obliged entity which relies on the third party . ### member states may permit the obliged entities to rely on third parties to meet the requirements laid down in article 11 , and . however , the ultimate responsibility for meeting those requirements shall remain with the obliged entity which relies on the third party . in addition , member states shall ensure that any such third parties may also be held liable for breaches of national provisions adopted pursuant to this directive .


### the member states shall consider information available on the level of geographical risk when deciding if a third country meets the conditions laid down in paragraph 1 and shall inform each other , the commission and eba , eiopa and esma to the extent relevant for the purposes of this directive and in accordance with the relevant provisions of regulation no 1093 / 2010 , of regulation no 1094 / 2010 , and of regulation no 1095 / 2010 , of cases where they consider that a third country meets such conditions . ### the commission shall consider information available on the level of geographical risk when deciding if a third country meets the conditions laid down in paragraph 1 and shall inform the member states , the obliged entities and eba , eiopa and esma to the extent relevant for the purposes of this directive and in accordance with the relevant provisions of regulation no 1093 / 2010 , of regulation no 1094 / 2010 , and of regulation no 1095 / 2010 , of cases where they consider that a third country meets such conditions .


### proposal for a regulation of the european parliament and of the council amending council regulation no 1083 / 2006 as regards certain provisions relating to financial management for certain member states experiencing or threatened with serious difficulties with respect to their financial stability and to the decommitment rules for certain member states ### proposal for a regulation of the european parliament and of the council amending council regulation no 1083 / 2006 as regards certain provisions relating to financial management for certain member states experiencing or threatened with serious difficulties with respect to their financial stability and to the decommitment rules


### the unprecedented global financial crisis and economic downturn have seriously damaged economic growth and financial stability and provoked a strong deterioration in financial and economic conditions in several member states . in particular , certain member states are experiencing serious difficulties or are threatened with such difficulties , notably with problems in their economic growth and financial stability and with a deterioration in their deficit and debt position , also as a result of the international economic and financial environment . ### the unprecedented long - lasting global financial crisis and economic downturn have seriously damaged economic growth and financial stability and provoked a strong deterioration in financial , economic and social conditions in the member states . in particular , certain member states are experiencing serious difficulties or are threatened with such difficulties , notably with problems in their economic growth and financial stability and with a deterioration in their deficit and debt position , also as a result of the international economic and financial environment .


### whilst important actions to counterbalance the negative effects of the crisis have already been taken , including amendments of the legislative framework , the impact of the financial crisis on the real economy , the labour market and citizens is being widely felt . pressure on national financial resources is increasing and further steps should be taken to alleviate that pressure through the maximum and optimal use of the funding from the structural funds and the cohesion fund . in view of the persisting financial difficulties , it is necessary to extend the application of the measures adopted by amending regulation no 1311 / 2011 of the european parliament and of the council . these measures were adopted pursuant to articles 122 , 136 and 143 of the treaty on the functioning of the european union . ### whilst important actions to counterbalance the negative effects of the crisis have already been taken , including amendments of the legislative framework , the impact of the financial crisis on the real economy , the labour market and citizens is being widely felt . pressure on national financial resources is increasing and further steps should be taken urgently to alleviate that pressure through the maximum and optimal use of the funding from the structural funds and the cohesion fund . in view of the persisting financial difficulties , it is necessary to extend the application of the measures adopted by amending regulation no 1311 / 2011 of the european parliament and of the council . these measures were adopted pursuant to articles 122 , 136 and 143 of the treaty on the functioning of the european union .


### the deadline for the calculation of the automatic decommitment of the annual budget commitments for years 2011 and 2012 should be extended by one year , but the 2012 budget commitment , which will still be open on 31 december 2015 is to be justified by 31 december 2015 . this should help to improve the absorption of funding committed for operational programmes in member states that are affected by the capping of their future cohesion policy allocations at 110% of their level in real terms for the 2007 - 2013 period . such flexibility is necessary in order to address a slower than expected implementation of programmes affecting in particular those member states . ### the deadline for the calculation of the automatic decommitment of the annual budget commitments for years 2011 , 2012 and 2013 should be extended by one year . this should help to improve the absorption of funding committed for operational programmes in member states for the 2007 - 2013 period . such flexibility is necessary in order to address a slower than expected implementation of programmes affecting the member states .


### by way of derogation from the first subparagraph of paragraph 1 and from paragraph 2 , for member states whose cohesion policy allocations in the 2014 - 2020 programming period are capped at 110% of their level in real terms for the 2007 - 2013 period , the deadline referred to in paragraph 1 shall be 31 december of the third year following the year of the annual budget commitment from 2007 to 2012 under their operational programmes . ### by way of derogation from the first subparagraph of paragraph 1 and from paragraph 2 , the deadline referred to in paragraph 1 shall be 31 december of the third year following the year of the annual budget commitment from 2011 to 2013 under their operational programmes .


### 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 , gender and employment matters , including social dialogue and respect of trade unions ' rights , and respect for human rights , anti - corruption and bribery matters . such statement should include a description of the policies , results , significant incidents which have occurred during the reporting period and the risks related to those matters .


### the obligation to disclose their diversity policies for their administrative , management and supervisory bodies with regard to aspects such as age , gender , geographical diversity , educational and professional background should only apply to large listed companies . therefore small and medium - sized companies that may be exempted from certain accounting obligations under article 27 of directive 78 / 660 / eec should not be covered to by this obligation . disclosure of the diversity policy should be part of the corporate governance statement , as laid down by article 46a of directive 78 / 660 / eec . companies not having a such a diversity policy should not be obliged to put one in place , but they should clearly explain why this is the case . ### the obligation to disclose their diversity policies for their administrative , management and supervisory bodies with regard to gender and other aspects such as age , geographical diversity , disability , educational and professional background should only apply to large listed companies . therefore small and medium - sized companies that may be exempted from certain accounting obligations under article 27 of directive 78 / 660 / eec should not be covered to by this obligation . disclosure of the diversity policy should be part of the corporate governance statement , as laid down by article 46a of directive 78 / 660 / eec . companies not having a such a diversity policy should not be obliged to put one in place , but they should clearly explain why this is the case .


### ' 1 . the annual report shall include a fair review of the development and performance of the company ' s business and of its position , together with a description of the principal risks and uncertainties that it faces . ### ' 1 . the annual report shall include a fair review of the development and performance of the company ' s business and of its position , together with a description of the management of the principal risks and uncertainties that it faces .


### 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 250 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 regarding companies’ activity impact on society relating to at least environmental , social , gender and employment matters , including social dialogue and respect of trade unions ' rights , and respect for human rights , anti - corruption and bribery matters , including :


### the risks related to these matters and how the company manages those risks . ### the risks for company and society related to these matters and how the company manages those risks .


### the risks related to these matters and how the company manages those risks . ### the risks for the company and for society related to these matters and how the company manages those risks .


### ' 1 . 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 . ### ' 1 . 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 management of the principal risks and uncertainties that they face .


### 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 250 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 regarding the impact of the company’s activity on society , relating to at least environmental , social , gender and employment matters , including social dialogue and respect of trade unions ' rights , and respect for human rights , anti - corruption and bribery matters , including the following :


### in providing such information the consolidated annual report 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 shall rely on the guidelines for the application of the measures of this directive relating to the non - financial statement , as from one year after their adoption . before that time , the consolidated annual report shall rely as minimum on the guiding principles on business and human rights implementing the united nations ‘ protect , respect and remedy’ framework and the organisation for economic co - operation and development guidelines for multinational enterprises . the consolidated annual report may additionally rely also on national , eu - based or international frameworks and , if so , shall specify which frameworks it has relied upon .


### the fourth railway package proposes important changes to improve the functioning of the single european railway area through amendments by way of recast to directive 2004 / 49 / ec and directive 2008 / 57 / ec , both directly linked to the tasks of the agency . those directives , together with this regulation , provide in particular for performing tasks related to issuing vehicle authorisations and safety certificates at the union level . it implies a greater role of the agency . ### the fourth railway package proposes important changes to improve the functioning of the single european railway area through amendments by way of recast to directive 2004 / 49 / ec and directive 2008 / 57 / ec , both directly linked to the tasks of the agency . those directives , together with this regulation , provide in particular for performing tasks related to issuing vehicle authorisations and safety certificates at the member state level .


### the agency should contribute to the creation and effective functioning of a single european railway area without frontiers and guaranteeing a high level of safety while improving the competitive position of the railway sector . that should be attained by contributing , on technical matters , to the implementation of european union legislation by enhancing the level of interoperability of railway systems and to developing a common approach to safety on the european railway system . the agency should also perform the role of european authority responsible for issuing authorisations for placing on the market for railway vehicles and for types of vehicles , safety certificates for railway undertakings and authorisations for placing in service of trackside control - command and signalling sub - systems . moreover , it should monitor national railway rules and the performance of national authorities acting in the railway interoperability and safety fields . ### the agency should contribute to the creation and effective functioning of a single european railway area without frontiers and guaranteeing a high level of safety while improving the competitive position of the railway sector . that should be attained by contributing , on technical matters , to the implementation of european union legislation by enhancing the level of interoperability of railway systems . the agency should monitor national railway rules and the performance of national authorities acting in the railway interoperability and safety fields .


### the agency , while performing its tasks , and particularly in relation to drafting recommendations , should take upmost account of external railway expertise . this expertise should predominantly consist of professionals from the railway sector and the relevant national authorities . they should form competent and representative working parties of the agency . ### the agency , while performing its tasks , and particularly in relation to drafting recommendations , should take utmost account of external railway expertise . this expertise should predominantly consist of professionals from the railway sector and the relevant national authorities .


### railway undertakings have been faced with various problems when applying for safety certificates to competent national authorities , ranging from protracting procedures and excessive costs to unfair treatment , especially of new entrants . the certificates issued in one member state have not been unconditionally recognised in other member states , with a detriment to the single european rail area . in order to make the procedures for issuing safety certificates to railway undertakings more efficient and impartial , it is essential to migrate towards a single safety certificate valid throughout the union and issued by the agency . the revised directive … [ railway safety directive ] provides a basis for this . ### railway undertakings have been faced with various problems when applying for safety certificates to competent national authorities , ranging from protracting procedures and excessive costs to unfair treatment , especially of new entrants . the certificates issued in one member state have not been unconditionally recognised in other member states , with a detriment to the single european rail area . in order to make the procedures for issuing safety certificates to railway undertakings more efficient and impartial , it is essential to migrate towards a single safety certificate valid throughout the union and issued by a national authority .


### in order to further pursue the development of single european rail area , in particular with relation to providing appropriate information to freight customers and passengers , and taking into account current involvement of the agency , it is necessary to give it a strengthened role in the field of telematics applications . this would ensure their consistent development and swift deployment . ### in order to further pursue the development of single european rail area , in particular with relation to providing appropriate information to freight customers and passengers , and taking into account current involvement of the agency , it is necessary to give it a strengthened role in the field of telematics applications . this would ensure their consistent development and swift deployment . as the commercial freedom of operators must be protected , such a role should not apply to the commercial part of telematics applications .


### in order to further pursue the development of single european rail area , in particular with relation to providing appropriate information to freight customers and passengers , and taking into account current involvement of the agency , it is necessary to give it a strengthened role in the field of telematics applications . this would ensure their consistent development and swift deployment . ### in order to further pursue the development of single european rail area , in particular with relation to providing appropriate information to freight customers and passengers , and taking into account current involvement of the agency , it could be given a strengthened role in the field of telematics applications . this would ensure their consistent development and swift deployment .


### given the importance of the european rail traffic management system for the smooth development of the single european railway area and its safety , and taking into account its fragmented development to date , it is necessary to strengthen its s overall coordination at the union level . therefore the agency , as the most competent union body , should be given a more prominent role in this field to ensure consistent development of the ertms , to contribute to ensuring that ertms equipment complies with the specifications in force and to ensure that ertms - related european research programmes are coordinated with the development of ertms technical specifications . moreover , in order to make the procedures for issuing authorisations for placing in service of trackside control - command and signalling sub - systems more efficient and impartial , it is essential to migrate towards a single authorisation valid in the union and issued by the agency . the revised directive … [ railway interoperability directive ] provides a basis for this . ### given the importance of the european rail traffic management system for the smooth development of the single european railway area and its safety , and taking into account its fragmented development to date , it is necessary to strengthen its s overall coordination at the union level . therefore the agency , together with national authorities , should be given a more prominent role in this field to ensure consistent development of the ertms , to contribute to ensuring that ertms equipment complies with the specifications in force and to ensure that ertms - related european research programmes are coordinated with the development of ertms technical specifications .


### the interoperability of the trans - european network should be enhanced and the new investment projects chosen for support by the union should be in line with the objective of interoperability set in decision no 1692 / 96 / ec of the european parliament and of the council of 23 july 1996 on community guidelines for the development of the trans - european transport network . the agency is the right institution to contribute to these objectives . ### the interoperability of the trans - european network should be enhanced and the new investment projects chosen for support by the union should be in line with the objective of interoperability set in decision no 1692 / 96 / ec of the european parliament and of the council of 23 july 1996 on community guidelines for the development of the trans - european transport network .


### railway interoperability and safety legislation , implementation guides or recommendations of the agency may sometimes pose interpretation and other problems to the stakeholders . proper and uniform understanding of those acts is a precondition for effective implementation of the railway acquis and the functioning of the railway market . therefore , the agency should actively engage in training and explanatory activities in that regard . ### railway interoperability and safety legislation , or recommendations of the agency , may sometimes pose interpretation and other problems to the stakeholders . proper and uniform understanding of those acts is a precondition for effective implementation of the railway acquis and the functioning of the railway market . therefore , the agency should actively engage in training and explanatory activities in that regard .


### over the past years , as more decentralised agencies have been created , the budgetary authority has looked to improve transparency and control over the management of the union funding allocated to them , in particular concerning the budgetisation of fees , financial control , power of discharge , pension scheme contributions and the internal budgetary procedure . in a similar way , regulation no 1073 / 1999 of the european parliament and of the council of 25 may 1999 concerning investigations conducted by the european anti - fraud office 5 should apply without restriction to the agency , which should accede to the interinstitutional agreement of 25 may 1999 between the european parliament , the council of the european union and the commission of the european communities concerning internal investigations by the european anti - fraud office . ### regulation no 1073 / 1999 of the european parliament and of the council of 25 may 1999 concerning investigations conducted by the european anti - fraud office 5 should apply without restriction to the agency , which should accede to the interinstitutional agreement of 25 may 1999 between the european parliament , the council of the european union and the commission of the european communities concerning internal investigations by the european anti - fraud office .


### the agency shall set up a limited number of working parties for drawing up recommendations , in particular related to technical specifications for interoperability , common safety targets and common safety methods . ### the agency shall set up a limited number of working parties for drawing up recommendations , in particular related to technical specifications for interoperability , safety targets and safety methods .


### the agency shall appoint to the working parties professionals from the railway sector from the list referred to in paragraph 3 . it shall ensure adequate representation of those sectors of the industry and of those users which could be affected by measures the commission may propose on the basis of the recommendations addressed to it by the agency . ### the agency shall appoint to the working parties professionals from the railway sector from the list referred to in paragraph 3 . it shall ensure adequate representation of all the member states , of those sectors of the industry and of those users which could be affected by measures the commission may propose on the basis of the recommendations addressed to it by the agency .


### whenever the work of such working parties has a direct impact on the working conditions , health and safety of workers in the industry , representatives from the workers’ organisations shall participate in the relevant working parties as full members . ### whenever the work of such working parties has a direct impact on the working conditions , health and safety of workers in the industry , representatives from the workers’ organisations from all the member states shall participate in the relevant working parties as full members .


### these consultations shall be held before the agency submits its recommendations to the commission . the agency shall take due account of these consultations , and shall , at all times , be available to expound on its recommendations . the opinions expressed by the sectoral dialogue committee shall be forwarded by the agency to the commission and by the commission to the committee referred to in article 75 . ### these consultations shall be held before the agency submits its recommendations to the commission . the agency shall take due account of these consultations , and shall , at all times , be available to expound on its recommendations . the opinions expressed by the sectoral dialogue committee shall be forwarded by the agency within three months to the commission and by the commission to the committee referred to in article 75 .


### the agency shall conduct an impact assessment of its recommendations and opinions . the management board shall adopt impact assessment methodology based on the methodology of the commission . the agency shall liaise with the commission to ensure that relevant work at the commission is duly taken into account . ### the agency shall conduct an impact assessment of its recommendations and opinions . the management board shall adopt impact assessment methodology based on the methodology of the commission , taking into account the requirements laid down in directive . . / . . / eu [ the railway safety directive ] . the agency shall liaise with the commission to ensure that relevant work at the commission is duly taken into account . the assumptions used as the basis for the impact assessment and the data sources used must be clearly identified in the report accompanying each recommendation .


### member states shall provide the agency with the data necessary for the impact assessment . ### the agency shall search for the data necessary for the impact assessment in consultation with the member states and the other major stakeholders .


### the agency shall issue opinions at request of the national regulatory bodies referred to in article 55 of directive 2012 / 34 / eu [ directive establishing a single european rail area ] concerning safety - related and interoperability - related aspects of matters drawn to their attention . ### the agency shall issue opinions at request either of the national regulatory bodies referred to in article 55 of directive 2012 / 34 / eu [ directive establishing a single european rail area ] , or of a member of the network of representative bodies from the railway sector referred to in article 34of this regulation , concerning safety - related and interoperability - related aspects of matters drawn to their attention .


### the agency shall issue recommendations to the commission on the common safety methods and the common safety targets provided for in articles 6 and 7 of directive &#8230 ; [ the railway safety directive ] . the agency shall also issue recommendations on periodic revision of csms and csts&#160 ; to the commission . ### the agency shall issue recommendations to the commission on the common safety methods , the common safety targets and the common safety indicators provided for in articles 6 and 7 of directive &#8230 ; [ the railway safety directive ] . the agency shall also issue recommendations on periodic revision of csms and csts&#160 ; to the commission .


### the agency shall issue single safety certificates in accordance with articles 10 and 11 of directive … [ the safety directive ] . ### the agency shall issue , renew , suspend , amend or revoke single safety certificates in accordance with articles 10 and 11 of directive … [ the railway safety directive ] .


### for drafting recommendations referred to in paragraph 1 , points and , the agency shall : ### for drafting recommendations referred to in paragraph 1 , points , and , the agency shall :


### where after the examination referred to paragraph 1 the agency considers that national rules enable the essential requirements for interoperability to be fulfilled , csms to be respected and the csts to be achieved , and that they would not result in arbitrary discrimination or a disguised restriction on rail transport operation between member states , the agency shall inform the commission and the member state concerned about its positive assessment . the commission may validate the rule in the it system referred to in article 23 . ### where after the examination referred to paragraph 1 the agency considers , in particular on the basis of explanations provided by the member states and where it judges necessary , after consultation with the stakeholders , that the national rule in question : falls under the cases listed in article 14 of directive . . / . . / eu [ the interoperability directive ] and article 8 of directive . . / . . / eu [ the railway safety directive ] ; makes it possible to fulfil essential requirements for interoperability , comply with csms and achieve csts ; has not been adopted solely for discriminatory purposes or in order to create disguised restrictions on rail transport operation ; shall inform the commission and the member state concerned of its favourable opinion within two months of the notification of the proposed rule by the member state . if no opinion is forthcoming within two months of the notification it shall be deemed to have been approved . the commission shall validate the rule in the it system referred to in article 23 within five days of notification by the agency of a favourable opinion or , in the case of implicit approval in accordance with point of the first sub - paragraph , following the expiry of the two - month period after notification of the proposed rule by the member state .


### the procedure described in paragraphs 2 and 3 shall apply , mutatis mutandis , in cases where the agency becomes aware of any national rule , notified or not , being redundant or in conflict with the csms , csts , tsis or any other union legislation in the railway field . ### where the agency becomes aware of , or is informed about , any national rule as referred to in paragraph 1 , notified or not , which : might no longer come within the scope of article 14 of directive . . / . . / eu [ interoperability directive ] or article 8 of directive . . / . . / eu [ railway safety directive ] ; would no longer make it possible to meet essential interoperability requirements , abide by csms or achieve csts ; might have been adopted solely for discriminatory purposes or in order to create disguised restrictions on rail transport operation , it shall commence its examination of the rule in question within two months after becoming aware that the rule may be non - compliant , and shall inform the member state concerned about the procedure .


### the agency shall set up and manage a dedicated it system containing national rules referred to in articles 21 and 22 and make it accessible to stakeholders and the public . ### the agency shall set up and manage a dedicated it system containing national rules referred to in articles 21 and 22 and national acceptable means of compliance referred to in article 2 of directive . . / . . eu [ interoperability directive ] . the agency shall make it accessible to stakeholders and the public .


### member states shall notify national rules referred to in articles 21 and 22 to the agency and to the commission through the it system referred to in paragraph 1 . the agency shall publish the rules in this system and use it for informing the commission in accordance with articles 21 and 22 . ### member states shall notify national rules referred to in articles 21 and 22 to the agency and to the commission through the it system referred to in paragraph 1 . the agency shall publish the rules in this system and use it for informing the commission in accordance with articles 21 and 22 . the agency shall use the system to inform the commission about any negative recommendation forwarded to a member state pursuant to article 21 , fifth indent , and article 22 .


### where the agency finds that there is a risk of a lack of technical and operational compatibility between networks and vehicles fitted with ertms equipment in the context of specific ertms projects , it may request the appropriate actors , in particular manufacturers , notified conformity assessment bodies , railway undertakings , infrastructure managers and national safety authorities , to provide any information relevant to the procedures applied for ' ec ' verification and placing in service , and to operational conditions . the agency shall inform the commission about such a risk and , if necessary , recommend appropriate measures to the commission . ### where the agency finds that there is a risk of a lack of technical and operational compatibility between networks and vehicles fitted with ertms equipment , it may request the appropriate actors , in particular manufacturers , notified conformity assessment bodies , railway undertakings , keepers , infrastructure managers and national safety authorities , to provide any information relevant to the procedures applied for ' ec ' verification and placing in service , and to operational conditions . the agency shall immediately inform the commission about such a risk and , if necessary , recommend appropriate measures to the commission .


### the agency shall support harmonised accreditation of notified conformity assessment bodies , in particular by giving appropriate guidance on evaluation criteria and procedures to assess whether notified bodies meet the requirements referred to in art . 27 of directive … [ interoperability directive ] to the accreditation bodies , via the european accreditation infrastructure recognised by art . 14 of regulation no . 765 / 2008 of the european parliament and of the council setting out the requirements for accreditation and market surveillance relating to the marketing of products and repealing regulation no . 339 / 93 . ### the agency shall support harmonised accreditation of notified conformity assessment bodies , in particular by giving appropriate guidance on evaluation criteria and procedures to assess whether notified bodies meet the requirements referred to in chapter 6 of directive . . / . . / eu [ interoperability directive ] to the accreditation bodies , via the european accreditation infrastructure recognised by article 14 of regulation no 765 / 2008 of the european parliament and of the council setting out the requirements for accreditation and market surveillance relating to the marketing of products and repealing regulation no 339 / 93 .


### the agency shall issue audit reports covering the activities referred to in paragraph 3 and send them to the notified conformity assessment body concerned and to the commission . each audit report shall include , in particular , any deficiencies identified by the agency and recommendations for improvement . if the agency considers that these deficiencies prevent the notified body concerned from effectively performing its tasks in relation to railway safety and interoperability , the agency shall adopt a recommendation requesting the member state in which that notified body is established to take appropriate steps within a time limit . ### the agency shall issue audit reports covering the activities referred to in paragraph 3 and send them to the notified conformity assessment body concerned , to the commission and to the competent notification authorities . each audit report shall include , in particular , any deficiencies identified by the agency and recommendations for improvement . if the agency considers that these deficiencies prevent the notified body concerned from effectively performing its tasks in relation to railway safety and interoperability , the agency shall : immediately inform the national safety authorities about all deficiencies which may have an impact on authorisations based on certifications issued by the notified body ; adopt a recommendation requesting the competent notification authorities to take appropriate steps within a limited period , and it shall inform the commission accordingly .


### the agency shall monitor progress on the interoperability and safety of the railway systems . every two years it shall present to the commission and publish a report on progress on interoperability and safety in the single european railway area . ### the agency shall monitor and assess progress on the interoperability and safety of the railway systems and the related costs and benefits . every two years it shall present to the commission and publish a report on progress on interoperability and safety in the single european railway area .


### the agency shall set up and keep european registers provided for in article 43 , 44 and 45 of directive &#8230 ; [ interoperability directive ] . the agency shall act as the system authority for all registers and databases referred to in the safety , interoperability and train drivers directives . this shall include , in particular : ### the agency shall define european registers provided for in articles 43 , 44 and 45 of directive . . . [ interoperability directive ] in a practical , efficient and user - friendly format to support business and operational needs . the agency shall act as the system authority for all registers and databases referred to in the safety , interoperability and train drivers directives . this shall include , in particular :


### the agency shall set up and keep european registers provided for in article 43 , 44 and 45 of directive &#8230 ; [ interoperability directive ] . the agency shall act as the system authority for all registers and databases referred to in the safety , interoperability and train drivers directives . this shall include , in particular : ### the agency shall define european registers provided for in article 43 , 44 and 45 of directive &#8230 ; [ interoperability directive ] in a practical , efficient and user - friendly format to fully support business and operational needs . the agency shall act as the system authority for all registers and databases referred to in the safety , interoperability and train drivers directives . this shall include , in particular :


### the agency shall set up and keep european registers provided for in article 43 , 44 and 45 of directive &#8230 ; [ interoperability directive ] . the agency shall act as the system authority for all registers and databases referred to in the safety , interoperability and train drivers directives . this shall include , in particular : ### the agency shall establish european registers provided for in article 43 , 44 and 45 of directive &#8230 ; [ interoperability directive ] in a practical , efficient and easy - to - use format so as to meet commercial and operational requirements . the agency shall act as the system authority for all registers and databases referred to in the safety , interoperability and train drivers directives . this shall include , in particular :


### the vehicle registers , including via links to relevant national registers ; ### the european register of authorised vehicles , including via links to relevant national registers ;


### networks of national safety authorities , investigating bodies and representative bodies ### networks of national safety authorities and representative bodies


### the agency shall establish a network of the national safety authorities and a network of the investigating bodies referred to in article 21 of directive… / … [ railway safety directive ] . the agency shall provide them with a secretariat . the tasks of the networks shall , in particular , be : ### the agency shall establish a network of the national safety authorities referred to in article 17 of directive… / … [ railway safety directive ] . the agency shall provide them with a secretariat . the tasks of the networks shall , in particular , be :


### the management board shall be composed of one representative from each member state and four representatives of the commission , all with a right to vote . ### the management board shall be composed of one representative from each member state and two representatives of the commission , all with a right to vote .


### meetings of the management board shall be convened by its chairperson . the executive director of the agency shall participate in the meetings . ### meetings of the management board shall be convened by its chairperson . the executive director of the agency shall participate in the meetings except where the management board is to take a decision relating to article&#160 ; 64 .


### adopt an anti - fraud strategy , which is proportionate to the fraud risks having regard to cost - benefit of the measures to be implemented ; ### adopt an anti - fraud and transparency strategy , which is proportionate to the fraud risks having regard to cost - benefit of the measures to be implemented ;


### adopt rules for the prevention and management of conflicts of interest in respect of members of the management board and of the board of appeal . ### appoint members of the board of appeal , take decisions relating to their recruitment , to the renewal of their contract and to their working conditions , including their remuneration and termination of service , and lastly adopt rules for the prevention and management of conflicts of interest in respect of members of the management board and of the board of appeal .


### adopt rules for the prevention and management of conflicts of interest in respect of members of the management board and of the board of appeal . ### adopt rules for the prevention and management of conflicts of interest in the agency as established in article 68a and in respect of members of the management board and of the board of appeal .


### the management board shall adopt , in accordance with the procedure provided for in article 110 of the staff regulations , a decision based on article 2 of the staff regulations and on article 6 of the conditions of employment of other servants delegating the relevant appointing authority powers to the executive director and defining the conditions under which this delegation of powers can be suspended . the executive director is authorised to sub - delegate these powers . ### the management board shall adopt , in accordance with the procedure provided for in article 110 of the staff regulations , a decision based on article 2 of the staff regulations and on article 6 of the conditions of employment of other servants delegating the relevant appointing authority powers to the executive director and defining the conditions under which this delegation of powers can be suspended . the executive director is authorised to sub - delegate these powers . this shall not affect his or her liability . the executive director shall inform the management board of such delegations and sub - delegations .


### in application of the previous subparagraph , where exceptional circumstances so require , the management board may , by way of a decision , suspend temporarily the delegation of appointing authority powers to the executive director and those sub - delegated by the latter and exercise them itself or delegate them to one of its members or to a staff member other than the executive director . ### in application of the previous subparagraph , where exceptional circumstances so require , the management board may , by way of a decision , suspend temporarily the delegation of appointing authority powers to the executive director and those sub - delegated by the latter and exercise them itself or delegate them to one of its members or to a staff member other than the executive director . the delegatee shall inform the management board of such a delegation .


### the members of a board of appeal shall be independent and may not perform any other duties within the agency . in making their decisions they shall not be bound by any instructions . ### the members of a board of appeal shall be independent of all parties involved in an appeal . they may not perform any other duties within the agency . in making their decisions or delivering their opinions they shall not be bound by any instructions .


### the members of the board of appeal may not take part in any appeal proceedings if they have any personal interest in the proceedings , if they have previously been involved as representatives of one of the parties to the proceedings , or if they participated in the decision under appeal . ### the members of the board of appeal may not take part in any appeal proceedings if they have any personal interest in the proceedings , if they have previously been involved as representatives of one of the parties to the proceedings , or if they participated in the decision under appeal , including , in the case of appeals lodged pursuant to article&#160 ; 54 , in delivering an opinion pursuant to article&#160 ; 54 in respect of the same authorisation or the same certificate .


### members of the board of appeal who consider that they should not take part in any appeal proceeding , for one of the reasons referred to in paragraph 1 or for any other reason , shall inform the board of appeal which decides on the exclusion accordingly . ### members of the board of appeal who consider that they should not take part in any appeal proceeding , for one of the reasons referred to in paragraph 1 or for any other reason , shall inform the board of appeal of their decision not to take part .


### an appeal may be brought before the board of appeal against decisions taken by the agency pursuant to articles 12 , 16 , 17 and 18 . ### an appeal may be brought before the board of appeal against decisions taken by the agency pursuant to articles 12 , 16 , 17 and 18 . an appeal may also be brought where the agency has not taken a decision within the time limits set in those articles .


### any natural or legal person may appeal against a decision addressed to that person by the agency pursuant to articles 12 , 16 , 17 and 18 . ### any natural , legal person or a member of the network of representative bodies may appeal against a decision addressed to that person by the agency pursuant to articles 12 , 16 , 17 and 18 .


### when examining the appeal , the board of appeal shall act expeditiously . it shall , as often as necessary , invite the parties to the appeal proceedings to file , within specified time limits , observations on its notifications or on communications from other parties to the appeal proceedings . parties to the appeal proceedings shall be entitled to make oral presentations . ### when acting in accordance with article&#160 ; 54 and , when examining the appeal , the board of appeal shall act expeditiously . it shall , as often as necessary , invite the parties to the appeal proceedings to file , within specified time limits , observations on its notifications or on communications from other parties to the appeal proceedings . parties to the appeal proceedings shall be entitled to make oral presentations . the board of appeal may consult any relevant expert or advisory body in drawing up its opinion .


### on receipt of the court of auditors’ observations on the agency’s provisional accounts , under article 148 of the general financial regulation , the executive director shall draw up the agency’s final accounts under his own responsibility and submit them to the management board for an opinion . ### based , where necessary , on the court of auditors’ observations on the agency’s provisional accounts , under article 148 of the general financial regulation , the executive director shall draw up the agency’s final accounts under his own responsibility and submit them , together with a statement of assurance , to the management board for approval .


### the agency shall take appropriate administrative measures to organise its services in order to avoid any conflict of interest . ### the agency shall take appropriate administrative measures , inter alia through training and prevention strategies , to organise its services in order to avoid conflicts of interest , including relating to post - employment issues .


### the agency may also make use of seconded national experts or other staff not employed by the agency under the staff regulations and the conditions of employment of other servants . ### the agency may also make use of seconded national experts or other staff not employed by the agency under the staff regulations and the conditions of employment of other servants . the agency shall adopt and implement a policy to evaluate and manage potential conflicts of interest of seconded national experts including prohibiting them from attending working group meetings when their independence and impartiality could be undermined .


### cooperation with national authorities and bodies ### cooperation with national authorities