### in order to ensure efficient and effective supervision and a balanced consideration of the positions of the competent authorities in different member states , the authority should be able to settle disagreements between those competent authorities with binding effect , including within colleges of supervisors . a conciliation phase should be provided for , during which the competent authorities may reach an agreement . the authority ' s competence should cover disagreements on procedural obligations in the cooperation process as well as on the interpretation and application of community law in supervisory decisions . existing conciliation mechanisms provided for in sectoral legislation have to be respected . in the event of inaction by the national supervisory authorities concerned , the authority should be empowered to adopt , as a last resort , decisions directly addressed to financial market participants in areas of community law directly applicable to them . ### in order to ensure efficient and effective supervision and a balanced consideration of the positions of the competent authorities in different member states , the authority should be able to settle disagreements between those competent authorities with binding effect , including within colleges of supervisors . a conciliation phase should be provided for , during which the competent authorities may reach an agreement . the authority ' s competence should cover disagreements on procedural obligations in the cooperation process as well as on the interpretation and application of union law in supervisory decisions . existing conciliation mechanisms provided for in sectoral legislation have to be respected . in the event of inaction by the national supervisory authorities concerned , the authority should be empowered to adopt , as a last resort , decisions directly addressed to financial market participants in areas of union law directly applicable to them . this also applies to disagreements within a college of supervisors .


### the securities and markets stakeholder group shall adopt its rules of procedure . ### the securities and markets stakeholder group shall adopt its rules of procedure on the basis of the agreement of a two - thirds majority of members .


### the securities and markets stakeholder group may submit opinions and advice to the authority on any issue related to the tasks of the authority specified in articles 7 and 8 . ### the securities and markets stakeholder group may submit opinions and advice to the authority on any issue related to the tasks of the authority specified in articles 7 to 19 .


### where the authority maintains its decision , the council , acting by qualified majority as defined in article 205 of the treaty , shall , within two months , decide whether the authority ' s decision is maintained or revoked . ### where the authority maintains its decision , the council shall take a decision by a majority of the votes cast , at one of its meetings at the latest two months after the authority has informed the member state as set out in the previous subparagraph , as to , decide whether the authority ' s decision is maintained .


### in order to ensure cross - sectoral consistency in the activities of the european supervisory authorities , those authorities should coordinate closely in a joint committee of european supervisory authorities and reach common positions where appropriate . the joint committee of european supervisory authorities should assume all of the functions of the joint committee on financial conglomerates . where relevant , acts also falling within the area of competence of the european insurance and occupational pensions authority or the european banking authority should be adopted in parallel by the european supervisory authorities concerned . ### in order to ensure cross - sectoral consistency in the activities of the european supervisory authorities , those authorities should coordinate closely through the european supervisory authorities joint committee and reach common positions where appropriate . the joint committee should coordinate the functions of the three european supervisory authorities in relation to financial conglomerates . where relevant , acts also falling within the area of competence of the european supervisory authority or the european supervisory authority should be adopted in parallel by the european supervisory authorities concerned . the joint committee should be chaired for a 12 - month term on a rotating basis by the chairpersons of the three european supervisory authorities . the chairperson of the joint committee should be a vice - chair of the esrb . the joint committee should have a permanent secretariat , staffed on secondment from the three european supervisory authorities , to allow for informal information - sharing and the development of a common cultural approach across the three european supervisory authorities .


### the board of appeal designates its president . ### the president , appointed jointly by the council , commission and european parliament , should be a professional lawyer .


### where the authority maintains its decision , the council , acting by qualified majority as defined in article 205 of the treaty , shall , within two months , decide whether the authority ' s decision is maintained or revoked . ### where the authority maintains its decision , the council shall take a decision whether the authority ' s decision is maintained or revoked on the basis of a qualified majority of its members , as defined in article 16 of the treaty on european union and in article 3 of the protocol on transitional provisions annexed to the treaty on european union and to the treaty on the functioning of the european union , at a meeting no later than two months after the authority has informed the member state as set out in subparagraph 4 .


### a full time chairperson , selected by the board of supervisors through an open competition , should represent the authority . the management of the authority should be entrusted to an executive director , who should have the right to participate in meetings of the board of supervisors and the management board without the right to vote . ### a full time chairperson , selected by the european parliament from a short list drawn up by the board of supervisors should 195represent the authority . the management of the authority should be entrusted to an executive director , who should have the right to participate in meetings of the board of supervisors and the management board without the right to vote .


### on the basis of the peer review the authority may issue recommendations to the competent authorities concerned . ### on the basis of the peer review the authority may issue recommendations or adopt other appropriated measures to the competent authorities concerned


### upon request from one or more competent authorities , from the commission or on its own initiative and after having informed the competent authority concerned , the authority may investigate the alleged incorrect application of community law . ### upon request from one or more competent authorities , from the european parliament , the commission , the council or a member of the securities and markets stakeholder group or on its own initiative and after having informed the competent authority concerned , the authority may investigate the alleged incorrect application of union law .


### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by community law , with the elaboration of draft technical standards , which do not involve policy choices . the commission should endorse those draft technical standards in accordance with community law in order to give them binding legal effect . the draft technical standards have to be adopted by the commission . they would be subject to amendment if , for example , the draft technical standards were incompatible with community law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of community financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement . ### the commission should endorse those draft technical standards in accordance with union law in order to give them binding legal effect . it can choose to reject them in part or in whole if , for example , the draft technical standards were incompatible with european union law , do not respect the principle of proportionality or run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of european union financial services legislation . to ensure a smooth and expeditious adoption process for those standards , the commission should be subject to a time limit when deciding when to endorse , partially endorse or reject them . the process for the development of technical standards in this regulation is without prejudice to the commission ' s powers to adopt delegated acts in accordance with article 290 of the treaty on the functioning of the european union . the matters concerned by the technical standards do not involve policy decisions , and their content is framed by the union acts adopted at level 1 . development of the draft standards by the authority ensures that they fully benefit from the specialised expertise of national supervisory authorities .


### the board of appeal shall be composed of six members and six alternates , who shall be individuals with relevant knowledge and experience , excluding current staff of the competent authorities or other national or community institutions involved in the activities of the authority . ### the board of appeal shall be composed of six members and six alternates . it shall comprise of individuals of high repute with a proven record of relevant knowledge and professional expertise , including supervisory experience at a sufficiently high level in the fields of banking , insurance and occupational pensions , securities markets or other financial services , and at least two members with sufficient legal expertise to provide expert legal advice on the authority ' s exercise of its powers .


### member states have a core responsibility in preserving financial stability in crisis management , in particular with regard to stabilising and resolving individual ailing financial market participants . measures by the authority in emergency or settlement situations affecting the stability of a financial market participant should not impinge on the fiscal responsibilities of member states . a mechanism should be established whereby member states may invoke this safeguard and ultimately bring the matter before the council for decision . it is appropriate to confer on the council a role in this matter given the particular responsibilities of the member states in this respect . ### member states have a core responsibility in preserving financial stability in crisis management , in particular with regard to stabilising and resolving individual ailing financial market participants . measures by the authority in emergency situations affecting the stability of a financial market participant should not impinge on the fiscal responsibilities of member states . a mechanism should be established whereby member states may invoke this safeguard .


### the authority and the competent authorities shall provide the commission with all necessary information . ### the competent authorities shall provide the authority with all necessary information .


### for that purpose , the authority shall have appropriate powers of investigation and enforcement as specified in the relevant legislation , as well as the possibility of charging fees . ### for that purpose , the authority shall have appropriate european powers of investigation and enforcement as specified in the relevant legislation , as well as the possibility of charging fees .


### the commission shall take such a decision no later than three months from the adoption of the recommendation . the commission may extend this period by one month . ### the authority shall take such a decision no later than one month from the adoption of the recommendation .


### in the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the community , the commission , upon its own initiative or following a request by the authority , the council , or the esrb , may adopt a decision addressed to the authority , determining the existence of an emergency situation for the purposes of this regulation . ### in the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the european union , the esrb , upon its own initiative or following a request by the authority , the european parliament or a member state may adopt a decision addressed to the authority , determining the existence of an emergency situation for the purposes of this regulation .


### for the purposes of article 11 , the board of supervisors shall convoke a panel to facilitate the settlement of the disagreement , consisting of the chairperson and two of its members , who are not representatives of the competent authorities which are parties to the disagreement . ### for the purposes of article 11 , the board of supervisors shall convoke an independent panel to facilitate an impartial settlement of the disagreement , consisting of the chairperson and two of its members , who are not representatives of the competent authorities which are parties to the disagreement and who shall not have any interest in the conflict .


### a member of the board of appeal , who was appointed by the management board of the authority , may not be removed during his term of office , unless he has been found guilty of serious misconduct , and the management board takes a decision to that effect after consulting the board of supervisors . ### a member of the board of appeal may not be removed during his term of office , unless he has been found guilty of serious misconduct , and the institution who appointed him / her takes a decision to that effect after consulting the board of supervisors .


### the authority may develop technical standards in the areas specifically set out in the legislation referred to in article 1 . the authority shall submit its draft standards to the commission for endorsement . ### the authority may develop technical standards in the areas specifically set out in the legislation referred to in article 1 and 1 . the authority shall submit its draft standards to the commission for endorsement .


### the authority shall ensure adequate secretarial support for the securities and markets stakeholder group . ### the authority shall ensure adequate secretarial support for the securities and markets stakeholder group and adequate reimbursement of travel and subsistence expenses , as well as an allowance for participation in the activities for those members for whom the absence of reimbursement would be prohibitive for being able to participate . the european budget should as well provide for proper funding for an expertise center where professional experts in financial services regulation and supervision can give technical advise exclusively to the buy side investors - , sme - and consumers organisations to underpin their input in the stakeholder advisory groups .


### the authority shall act within the scope of directive 97 / 9 / ec , directive 98 / 26 / ec , directive 2001 / 34 / ec , directive 2002 / 47 / ec , directive 2002 / 87 / ec , directive 2003 / 6 / ec , directive 2003 / 71 / ec , directive 2004 / 25 / ec , directive 2004 / 39 / ec , directive 2004 / 109 / ec , directive 2005 / 60 / ec , directive 2009 / 65 / ec , directive 2002 / 65 / ec , directive 2006 / 49 / ec , directive … [ future aifm directive ] , and regulation … [ future cra regulation ] , including all directives , regulations , and decisions based on these acts , and of any further community act which confers tasks on the authority . ### the authority shall act within the scope of directive 97 / 9 / ec , directive 98 / 26 / ec , directive 2001 / 34 / ec , directive 2002 / 47 / ec , directive 2002 / 87 / ec , directive 2003 / 6 / ec , directive 2003 / 71 / ec , directive 2004 / 39 / ec , directive 2004 / 109 / ec , directive 2009 / 65 / ec , directive 2002 / 65 / ec , directive 2007 / 36 / ec and directive 2006 / 49 / ec , , directive [ aifm ] , and regulation no 1060 / 2009 [ cra ] and within the relevant parts of directive 2005 / 60 / ec and 2002 / 65 / ec , to the extent that these apply to firms providing investment services or to collective investment undertakings marketing their units or shares , including all directives , regulations , and decisions based on these acts , and of any further union act which confers tasks on the authority .


### joint committee of european supervisory authorities ### european supervisory authority


### for the purposes of article 11 , the board of supervisors shall convoke a panel to facilitate the settlement of the disagreement , consisting of the chairperson and two of its members , who are not representatives of the competent authorities which are parties to the disagreement . ### for the purposes of article 11 , the board of supervisors shall convoke an independent panel to facilitate the settlement of the disagreement , consisting of the chairperson and four members of the board of supervisors . the chairperson shall select the members of the panel drawn from the board of supervisors . no member of the panel from the board of supervisors shall be drawn from a national supervisory authority party to the disagreement , nor shall they have any interest in the conflict .


### in the case of non - contractual liability , the authority shall , in accordance with the general principles common to the laws of the member states , make good any damage caused by it or by its staff in the performance of their duties . the court of justice shall have jurisdiction in any dispute over the remedying of such damage . ### in the case of non - contractual liability , the authority shall , in accordance with the general principles common to the laws of the member states , make good any unjustifiable damage caused by it or by its staff in the performance of their duties . the court of justice shall have jurisdiction in any dispute over the remedying of such damage .


### any action by the competent authorities in relation to facts which are subject to a decision pursuant to paragraph 4 or 6 shall be compatible with those decisions . ### when taking action in relation to issues which are subject to a formal opinion pursuant to paragraph 4 or 6 competent authorities shall comply with the formal opinion or the decision , as the case may be .


### the decisions of the board of appeal shall be adopted on the basis of a majority of at least four of its six members . ### the decisions of the board of appeal shall be adopted on the basis of a simple majority vote , with a casting vote for the president .


### two members of the board of appeal and two alternates shall be appointed by the management board of the authority from a short - list proposed by the commission , following a public call for expression of interest published in the official journal of the european union , and after consultation of the board of supervisors . ### members of the board of appeal and two alternates shall be appointed , after consultation with the authorities ' management boards , as follows : – two members and two alternates by the council ; – two members and two alternates by the commission ; – two members and two alternates by the european parliament .


### the securities and markets stakeholder group may submit opinions and advice to the authority on any issue related to the tasks of the authority specified in articles 7 and 8 . ### the securities and markets stakeholder group may submit opinions and advice to the authority on any issue related to the tasks of the authority including in relation to reaching joint positions with the european supervisory authority and the european supervisory authority as set out in article 42 , with particular focus on the tasks set out in articles 7 and 8 .


### the authority shall contribute to promote the efficient and consistent functioning of colleges of supervisors and foster the coherence of the application of community legislation across colleges . ### the authority shall contribute to promote and monitor the efficient , effective and consistent functioning of colleges of supervisors referred to in directives 2006 / 49 / ec and 2009 / 111 / ec and foster the coherence of the application of union legislation across colleges .


### contribute to a consistent application of community legislation , in particular by contributing to a common supervisory culture , ensuring consistent , efficient and effective application of the legislation referred to in article 1 , preventing regulatory arbitrage , mediating and settling disagreements between competent authorities , promoting a coherent functioning of colleges of supervisors and taking actions in emergency situations ; ### contribute to a consistent application of union law , in particular by contributing to a common supervisory culture , ensuring consistent , efficient and effective application of the legislation referred to in article 1 , preventing regulatory arbitrage , mediating and settling disagreements between competent authorities , ensuring a coherent functioning of colleges of supervisors and taking actions , inter alia , in emergency situations ;


### before taking the decisions provided for in article 9 , article 10 and and article 11 and , the authority shall inform the addressee of its intention to adopt the decision , setting a time limit within which the addressee may express its views on the matter , taking full account of the urgency of the matter . ### before taking the decisions provided for in this regulation , the authority shall inform the addressee of its intention to adopt the decision , setting a time limit within which the addressee may express its views on the matter , taking full account of the urgency of the matter .


### the joint committee shall be composed of the chairperson and the chairpersons of the european insurance and occupational pensions authority and the european banking authority , and , where applicable , the chairperson of a sub - committee established under article 43 . ### the joint committee shall be composed of each of the chairpersons of the european supervisory authorities , and , where applicable , the chairperson of a sub - committee established under article&#160 ; 43 .


### in order to ensure cross - sectoral consistency in the activities of the european supervisory authorities , those authorities should coordinate closely in a joint committee of european supervisory authorities and reach common positions where appropriate . the joint committee of european supervisory authorities should assume all of the functions of the joint committee on financial conglomerates . where relevant , acts also falling within the area of competence of the european insurance and occupational pensions authority or the european banking authority should be adopted in parallel by the european supervisory authorities concerned . ### in order to ensure cross - sectoral consistency in the activities of the european supervisory authorities , those authorities should coordinate closely through the european supervisory authorities joint committee and reach common positions where appropriate . the joint committee should coordinate the functions of the three european supervisory authorities in relation to financial conglomerates . where relevant , acts also falling within the area of competence of the european supervisory authority or the european supervisory authority should be adopted in parallel by the european supervisory authorities concerned . the joint committee should be chaired for a 12 - month term on a rotating basis by the chairpersons of the three european supervisory authorities . the chairperson of the joint committee should be a vice - chair of the esrb . the joint committee should have a permanent secretariat , staffed on secondment from the three european supervisory authorities , to allow for informal information - sharing and the development of a common cultural approach across the three european supervisory authorities .


### a subsidy from the community , entered in the general budget of the european union ; ### a subsidy from the union , entered in the general budget of the european union , subject to an agreement by the budgetary authority as provided for by point 47 of the iia ;


### member states shall in compliance with state aid rules take the necessary measures to ensure effective and non - discriminatory access to suitable rolling stock for public passenger transport by rail for operators wishing to provide public passenger transport services by rail under public service contract . ### the competent authorities shall take the necessary measures to allow effective and non - discriminatory access to suitable rolling stock for public passenger transport by rail for operators wishing to provide public passenger transport services by rail under public service contracts within their jurisdiction .


### when competent authorities organise their public passenger transport services they need to ensure that public service obligations and the geographical scope of public service contracts are appropriate , necessary and proportionate to achieve the objectives of the public passenger transport policy in their territory . this policy should be set out in public transport plans leaving scope for market based transport solutions . the process of defining public transport plans and public service obligations should be made transparent to relevant stakeholders including potential market entrants . ### under the treaty provisions on services of general economic interest , it is for the competent authorities to define public service obligations . only where the relevant judicial authorities find that there has been a manifest error of assessment may their scope for action be limited . in particular , the competent authorities may organise their public passenger transport services in a way that encourages network effects so as to achieve transport solutions that reflect the needs of users . they should be able to present the main features of their public transport policies in indicative public transport plans which are transparent to relevant stakeholders including potential market entrants .


### compliance of the assessment and of the procedure set out in this article shall be ensured by the regulatory body referred to in art 55 of directive 2012 / 34 / eu including on its own initiative . ### compliance of the assessment and of the procedure set out in this article shall be ensured by the regulatory body referred to in art 55 of directive 2012 / 34 / eu upon request by any relevant stakeholder as referred to in article 2a last paragraph or on its own initiative .


### where competent authorities , in accordance with national law , require public service operators to comply with certain quality and social standards or establish social and qualitative criteria , these standards and criteria shall be included in the tender documents and in the public service contracts . ### the competent authorities shall , without prejudice to national law and union law , including collective agreements concluded between social partners , lay down the quality , social and environmental standards applicable , determine appropriate social and qualitative criteria and include these standards and criteria in the tender documents and in the public service contracts , regardless of the award procedure , unless at a national , regional or local level a law , a regulation or a binding sector - wide collective agreement , including binding social standards and compulsory transfer of staff in case of change of operator , exists for the staff concerned .


### ' the scope of public service obligations shall exclude all public transport services that go beyond of what is necessary to reap local , regional or sub - national network effects . ### ' the scope of public service obligations may include public transport services that have the potential to reap local , regional or sub - national network effects .


### public transport plans and public service obligations ### socially , environmentally and economically sustainable public transport plans and public service obligations


### the specifications of public service obligations and the related compensation of the net financial effect of public service obligations shall : achieve the objectives of the public transport plan in the most cost - effective manner ; financially sustain the provision of public passenger transport in accordance to the requirements laid down in the public transport plan in the long term . ### the specifications of public service obligations and the related compensation of the net financial effect of public service obligations shall be designed to achieve the objectives of the public transport plan in a cost - effective manner and financially sustain the provision of public passenger transport in the long term .


### in the cases referred to in points and , the competent authority shall have the right to require the public service operator to transfer the rolling stock after the expiry of the public service contract to the new operator to whom a contract is awarded . the competent authority may oblige the new public transport operator to take the rolling stock over . the transfer shall be done at market rates . ### where the competent authority decides to bear the residual value risk of the rolling stock , it shall have the right to require the public service operator to transfer the rolling stock after the expiry of the public service contract to the new operator to whom a contract is awarded . the competent authority may oblige the new public transport operator to take the rolling stock over . the financial terms for the takeover of the rolling stock by the new operator shall be laid down in the public service contract pursuant to article 4 , article 6 , and , if applicable , the annex .


### ' where competent authorities , in accordance with national law , require public service operators to comply with certain quality and social standards or establish social and qualitative criteria , these standards and criteria shall be included in the tender documents and in the public service contracts . ' ### the competent authorities shall , in accordance with national law , set the quality and social standards , determine appropriate social and qualitative criteria with a view to adopting a collective agreement at national level before 3 december 2019 and , irrespective of the award procedure , include these standards and criteria in the tender documents and in the public service contracts .


### the scope of public service obligations shall exclude all public transport services that go beyond of what is necessary to reap local , regional or sub - national network effects . ### the scope of public service obligations may in particular cover services which the competent authorities regard as necessary to reap local , regional or sub - national network effects ; in that connection the authorities shall bear in mind that services which do and do not break even may be combined .


### the competent authority shall in an appropriate manner consult relevant stakeholders such as a minimum , transport operators , infrastructure managers if appropriate and representative passenger and employee organisations on these specifications and take their positions into consideration . ### the competent authority shall consult relevant stakeholders such as a minimum , transport operators , infrastructure managers and representative passenger and employee organisations on these specifications and take their positions into consideration .


### the competent authority shall in an appropriate manner consult relevant stakeholders such as a minimum , transport operators , infrastructure managers if appropriate and representative passenger and employee organisations on these specifications and take their positions into consideration . ### the competent authority shall in an appropriate manner consult relevant stakeholders such as a minimum , transport operators , infrastructure managers and passenger and employee organisations and organisations representing people with disabilities and elderly people on these specifications and take their positions into consideration .


### where they concern the annual provision of less than 300 000 kilometres of public passenger transport services or less than 150 000 kilometres in the case of a public service contract including public transport by rail . ### where they concern the annual provision of less than 300 000 vehicle - kilometres of public passenger transport services or less than 500 000 vehicle - kilometres in the case of a public service contract including public transport by rail .


### if the rolling stock is transferred to a new public transport operator the competent authority shall make available in the tender documents detailed information about the cost of maintenance of the rolling stock and about its physical condition . ### if the rolling stock is transferred to a new public transport operator the competent authority shall make available in the tender documents information about the cost of maintenance of the rolling stock and about its physical condition .


### when competent authorities organise their public passenger transport services they need to ensure that public service obligations and the geographical scope of public service contracts are appropriate , necessary and proportionate to achieve the objectives of the public passenger transport policy in their territory . this policy should be set out in public transport plans leaving scope for market based transport solutions . the process of defining public transport plans and public service obligations should be made transparent to relevant stakeholders including potential market entrants . ### when competent authorities organise their public passenger transport services they need to ensure that public service obligations and the geographical scope of public service contracts are appropriate , necessary and proportionate to achieve the objectives of the public passenger transport policy in their territory , and that the social objectives of the teu , the charter of fundamental rights of the european union , the protocol no 26 as well as the united nations convention on the rights of people with disabilities are respected . this policy should be set out in all plans for sustainable public transport leaving scope for transport solutions based on the needs of users , including families , elderly and disabled people . the process of defining such multimodal public transport plans and public service obligations should integrate an economic , social and ecological dimension and be made transparent to relevant stakeholders including potential market entrants .


### ' ' competent local authority ' means any competent authority whose geographical area of competence is not national and which covers the transport needs of an urban agglomeration or a rural district ; ' ### ' competent local authority ' means any competent authority whose geographical area of competence is not national ;


### in view of creating framework conditions for enabling society to fully reap the benefits of effective opening of the market for domestic passenger transport services by rail it is important that member states ensure an adequate level of social protection for the staff of public service operators . ### in view of creating framework conditions for enabling all members of society to fully reap the benefits from a high - quality offer for domestic passenger transport services by rail that are in line with the social objectives set out in the teu and the objectives regarding services of general interest as set out in the protocol no 26 , it is important that member states ensure in any case good working conditions and a high level of social protection for the staff of public service operators against social dumping on a national , regional or local level , respecting collective agreements in the sector . the adequate level should be guaranteed at the latest at the opening of the domestic railway market by national law and / or sector - wide collective agreements by setting social standards and requiring the transfer of staff for the relevant sector . by establishing national collective agreements for the rail sector , but also by ensuring that staff is taken over under contract award procedures , the competent authorities will enable a high - quality social framework to be put in place .


### “competent local authority” means any competent authority whose geographical area of competence is not national and which covers the transport needs of an urban agglomeration or a rural district ; ### ' competent local authority ' means any competent authority whose geographical area of competence is not national and which covers the transport needs of an urban agglomeration and / or a rural district or area ;


### ' ' competent local authority ' means any competent authority whose geographical area of competence is not national and which covers the transport needs of an urban agglomeration or a rural district ; ' ### “ ' competent local authority ' means any competent authority whose geographical area of competence does not cover the whole of a member state or which covers the transport needs of an urban agglomeration or a rural district , including at cross - border level ; ”


### where competent authorities , in accordance with national law , require public service operators to comply with certain quality and social standards or establish social and qualitative criteria , these standards and criteria shall be included in the tender documents and in the public service contracts . ### competent authorities , in accordance with national law , shall require public service operators to comply with quality and social standards and shall establish social and qualitative criteria , including the obligation of public service operators to comply with the applicable representative collective agreements and decent employment and working conditions , also in the context of a transfer of staff in accordance with paragraph 5 . these standards and criteria shall be included in the public service contracts and , if applicable , in the tender documents .


### ' the scope of public service obligations shall exclude all public transport services that go beyond of what is necessary to reap local , regional or sub - national network effects . ### the scope of public service obligations may include all public transport services that permit the benefits of economic , technical or geographical network effects to be reaped at local , regional or national level .


### member states shall in compliance with state aid rules take the necessary measures to ensure effective and non - discriminatory access to suitable rolling stock for public passenger transport by rail for operators wishing to provide public passenger transport services by rail under public service contract . ### member states may in compliance with state aid rules take the necessary measures to ensure effective and non - discriminatory access to suitable rolling stock for public passenger transport by rail for operators wishing to provide public passenger transport services by rail under public service contract .


### the competent authorities shall adopt the public transport plans after consultation of relevant stakeholders and publish them . for the purpose of this regulation , relevant stakeholders to be taken into consideration are at least transport operators , infrastructure managers if appropriate , and representative passenger and employee organisations . ### the competent authorities shall adopt the public transport plans after consultation of relevant stakeholders and publish them . for the purpose of this regulation , relevant stakeholders to be taken into consideration are at least transport operators , infrastructure managers , representatives of passengers and employee organisations .


### to ensure sound financing to meet the objectives of public transport plans , competent authorities need to design public service obligations to attain public transport objectives in a cost - effective manner taking account of the compensation for the net financial effect of those obligations and they need to ensure long - term financial sustainability of public transport provided under public service contracts . ### to ensure sound financing to meet the objectives of public transport plans , competent authorities need to design public service obligations to attain public transport objectives in a cost - effective manner taking account of the compensation for the net financial effect of those obligations and they need to ensure long - term financial sustainability of public transport provided under public service contracts . that includes avoiding both over - and under - compensation caused by the substance of the public service obligations or the failure of the competent authority to meet its financial commitments . public service obligations may include networks in which some services can be operated with a fair profit without financial compensation ; the inclusion of such services should not result in compensation payments exceeding the amount necessary for providing the whole range of services .


### when competent authorities organise their public passenger transport services they need to ensure that public service obligations and the geographical scope of public service contracts are appropriate , necessary and proportionate to achieve the objectives of the public passenger transport policy in their territory . this policy should be set out in public transport plans leaving scope for market based transport solutions . the process of defining public transport plans and public service obligations should be made transparent to relevant stakeholders including potential market entrants . ### under the treaty provisions on services of general economic interest , it is for the competent authorities to define public service obligations . only where the relevant judicial authorities find that there has been a manifest error of assessment may their scope for action be limited . in particular , the competent authorities may organise their public passenger transport services in a way that encourages network effects so as to achieve transport solutions that reflect the needs of users . they should be able to present the main features of their public transport policies in indicative public transport plans which are transparent to relevant stakeholders including potential market entrants .


### where competent authorities , in accordance with national law , require public service operators to comply with certain quality and social standards or establish social and qualitative criteria , these standards and criteria shall be included in the tender documents and in the public service contracts . ### the competent authorities shall , without prejudice to national law and union law , including collective agreements concluded between social partners , lay down the quality , social and environmental standards applicable , determine appropriate social and qualitative criteria and include these standards and criteria in the tender documents and in the public service contracts , regardless of the award procedure , unless at a national , regional or local level a law , a regulation or a binding sector - wide collective agreement , including binding social standards and compulsory transfer of staff in case of change of operator , exists for the staff concerned .


### where they concern the annual provision of less than 300 000 kilometres of public passenger transport services or less than 150 000 kilometres in the case of a public service contract including public transport by rail . ### where they concern the annual provision of less than 5 000 000 kilometres of public passenger transport services or less than 5 000 000 kilometres in the case of a public service contract including public transport by rail , or


### ' where competent authorities , in accordance with national law , require public service operators to comply with certain quality and social standards or establish social and qualitative criteria , these standards and criteria shall be included in the tender documents and in the public service contracts . ' ### the competent authorities shall , in accordance with national law , set the quality and social standards , determine appropriate social and qualitative criteria with a view to adopting a collective agreement at national level before 3 december 2019 and , irrespective of the award procedure , include these standards and criteria in the tender documents and in the public service contracts .


### ' 2 . without prejudice to paragraph 3 , the award of public service contracts by rail with the exception of other track - based modes such as metro or tramways shall comply with article 5 as from 3 december 2019 . all public service contracts by other track - based modes and by road must have been awarded in compliance with article 5 by 3 december 2019 at the latest . during the transitional period running until 3 december 2019 , member states shall take measures to gradually comply with article 5 in order to avoid serious structural problems in particular relating to transport capacity . ' ### without prejudice to paragraph 3 , the award of public service contracts for transport by road and other track - based modes such as metro or tramways shall comply with article 5 as from 3 december 2019 . public service contracts concerning passenger transport by rail shall be awarded as from 3 december 2029 in compliance with article 5 . during the transitional periods , member states shall take measures to gradually comply with article 5 in order to avoid serious structural problems in particular relating to transport capacity . '


### where an agreement referred to in point does not exist and the third country maintains restrictive procurement measures leading to a lack of substantial reciprocity in market opening between the union and the third country concerned . ### where an agreement referred to in point does not exist and the third country maintains restrictive procurement measures leading to a lack of substantial reciprocity in market opening between the union and the third country concerned , notably where those restrictive measures are detrimental to the eu economic interest , such as its industry .


### articles 58 and 59 of directive 2004 / 17 / ec shall be repealed with effect from the entry into force of this regulation . ### from the entry into force of this regulation and according to its article 15 , the commission reserves the right to repeal article 58 and 59 of directive 2004 / 17 / ec by delegated acts .


### the commission shall not adopt restriction measures on a new psychoactive substance if , based on existing evidence , it poses , overall , low health , social and safety risks , in particular : ### the commission shall not adopt restriction measures on a new psychoactive substance if , based on the existing evidence and on the following criteria , it poses low health , social and safety risks :


### the commission shall , by means of a decision , without undue delay , prohibit the making available on the market to consumers of the new psychoactive substance if , based on existing evidence , it poses , overall , moderate health , social and safety risks , in particular : ### the commission shall , by means of a decision , without undue delay , prohibit the making available on the market to consumers of the new psychoactive substance if , based on the existing evidence and on the following criteria , it poses moderate health , social and safety risks :


### no restriction measures should be introduced at union level on new psychoactive substances which pose low health , social and safety risks . ### on the basis of existing evidence and on predefined criteria , no restriction measures should be introduced at union level on new psychoactive substances which pose low health , social and safety risks .


### documents drawn up or received in the course of procedures for the adoption of&#160 ; eu legislative&#160 ; acts or non - legislative acts of general application shall , subject to articles 4 and 9 , be made directly accessible&#160 ; to the public . ### the institutions , bodies , offices and agencies shall make documents directly accessible to the public in electronic form or through registers , particularly those drawn up or received in the course of procedures for the adoption of union legislative acts or non - legislative acts of general application .


### for the purpose of this regulation : ' document ' means any content whatever its medium drawn - up by an institution and formally transmitted to one or more recipients or otherwise registered , or received by an institution ; data contained in electronic storage , processing and retrieval systems are documents if they can be extracted in the form of a printout or electronic - format copy using the available tools for the exploitation of the system ; ' third party ' means any natural or legal person , or any entity outside the institution concerned , including the member states , other community or non - community institutions and bodies and third countries . ### for the purpose of this regulation : ' document ' shall mean any content whatever its medium concerning a matter relating to the policies , activities and decisions falling within the sphere of responsibility of a union institution , body , office or agency ; data contained in electronic storage , processing and retrieval systems constitute a document if they can be extracted using any reasonably available tools for the exploitation of the system concerned . an institution , body , office or agency that intends to create a new electronic storage system , or to substantially change an existing system , shall evaluate the likely impact on the right of access guaranteed by this regulation and act so as to promote the objective of transparency . the functions for the retrieval of information stored in electronic storage systems shall be adapted in order to satisfy repeated requests from the public which cannot be satisfied using the tools currently available for the exploitation of those systems ; ' classified documents ' shall mean documents which have been totally or partially classified in accordance with article 3a of this regulation ; ' legislative act ' shall for the purposes of this regulation include documents drawn up or received in the course of legislative procedures for the adoption of legislative acts , including measures of general application under delegated and implementing powers , and acts of general application which are legally binding in or on the member states ; ' administrative task ' shall mean measures dealing with organisational , administrative or budgetary matters which are internal to the institution , body , office or agency concerned ; ' archive system ' shall mean a tool or a procedure of the institutions , bodies , offices and agencies for managing in a structured way the filing of all their documents referring to an ongoing or recently concluded procedure ; ' historical archives ' shall mean that part of the archives of the institutions , bodies , offices or agencies which has been selected , on the terms laid down in point , for permanent preservation ; a detailed list of all the categories of acts covered by the definitions in points to shall be published in the official journal of the european union and on the internet sites of the institutions , bodies , offices and agencies , which shall also agree and publish their common criteria for archiving . ' third party ' shall mean any natural or legal person , or any entity outside the institution , body , office or agency concerned , including the member states , other union or non - union institutions and bodies and third countries .


### the exceptions as laid down in this article shall only apply for the period during which protection is justified on the basis of the content of the document . the exceptions may apply for a maximum period of 30 years . in the case of documents covered by the exceptions relating to the protection of personal data or commercial interests and in the case of sensitive documents , the exceptions may , if necessary , continue to apply after this period . ### the exceptions as laid down in this article shall in principle not apply to documents transmitted in the framework of procedures leading to a legislative act or delegated or implementing act of general application . the exceptions shall only apply for the period during which protection is justified on the basis of the content of the document . the exceptions may apply for a maximum period of 30 years .


### with regard to the disclosure of personal data , a clear relationship should be established between this regulation and regulation no 45 / 2001 on the protection of individuals with regard to the processing of personal data by the community institutions and bodies and on the free movement of such data . ### union institutions , bodies , offices and agencies should treat personal data in compliance with the rights of data subjects as defined by article 16 tfeu as well as by article 8 of the charter , by relevant union legislation and by the case - law of the court of justice of the european union .


### the exceptions under paragraphs and shall apply unless there is an overriding public interest in disclosure . as regards paragraph 2 an overriding public interest in disclosure shall be deemed to exist where the information requested relates to emissions into the environment . ### the exceptions under paragraph to shall apply unless there is an overriding public interest in disclosure . when balancing the public interest in disclosure , special weight shall be given to the fact that the requested documents relate to the protection of fundamental rights or the right to live in a healthy environment . an institution , body , office or agency invoking one of these exceptions has to show that the risk to the interest protected is foreseeable and not purely hypothetical , and define how access to the document could specifically and effectively undermine the interest protected .


### consultations as regards third - party documents , the institution shall consult the third party with a view to assessing whether an exception referred to&#160 ; in article 4 is applicable , unless it is clear that the document shall or shall not be disclosed . 2 . where an application concerns a document originating from a member state , other than documents transmitted in the framework of procedures leading to a legislative act or a non - legislative act of general application , the authorities of that member state shall be consulted . the institution holding the document shall disclose it unless the member state gives reasons for withholding it , based on the exceptions referred to in article 4 or on specific provisions in its own legislation preventing disclosure of the document concerned . the institution shall appreciate the adequacy of reasons given by the member state insofar as they are based on exceptions laid down in this regulation . 3 . where a member state receives a request for a document in its possession , which originates from an institution , unless it is clear that the document shall or shall not be disclosed , the member state shall consult with the institution concerned in order to take a decision that does not jeopardise the objectives of this regulation . the member state may instead refer the request to the institution . ### consultation of third parties as regards third - party documents , the institution , bodies , offices and agencies , shall consult the third party with a view to assessing whether an exception referred to&#160 ; in article 4 is applicable , unless it is clear that the document shall or shall not be disclosed . documents provided to institutions , bodies , offices or agencies for the purpose of influencing policy - making by lobbyists and other interested parties should be made public . 2 . where an application concerns a document originating from a member state , other than documents transmitted in the framework of procedures leading to a legislative act or a delegated or implementing act of general application the authorities of that member state shall be consulted . the institution holding the document shall disclose it unless the member state gives reasons for withholding it , based on the exceptions referred to in article 4 or on specific provisions in its own legislation preventing disclosure of the document concerned . the institution shall appreciate the adequacy of reasons given by the member state insofar as they are based on exceptions laid down in this regulation . 3 . where a member state receives a request for a document in its possession , which originates from an institution , body , office or agency , unless it is clear that the document shall or shall not be disclosed , the member state shall consult with the institution concerned in order to take a decision that does not jeopardise the objectives of this regulation . the member state may instead refer the request to the institution .


### names , titles and functions of public office holders , civil servants and interest representatives in relation with their professional activities shall be disclosed unless , given the particular circumstances , disclosure would adversely affect the persons concerned . other personal data shall be disclosed in accordance with the conditions regarding lawful processing of such data laid down in ec legislation on the protection of individuals with regard to the processing of personal data . ### personal data shall not be disclosed if such disclosure would harm the privacy or the integrity of the person concerned . such harm shall not be deemed to be caused : - if the data relate solely to the professional activities of the person concerned unless , given the particular circumstances , there is reason to assume that disclosure would adversely affect that person ; - if the data relate solely to a public person unless , given the particular circumstances , there is reason to assume that disclosure would adversely affect that person or other persons connected with him or her ; - if the data have already been published with the consent of the person concerned . personal data shall nevertheless be disclosed if an overriding public interest requires disclosure . in such a case , the institution , body , office or agency concerned shall be required to specify the public interest . it shall give reasons why , in the specific case , the public interest outweighs the interests of the person concerned . where an institution , body , office or agency refuses access to a document on the basis of this paragraph , it shall consider whether it is possible to grant partial access to that document .


### beneficiaries and scope any natural or legal person shall have a right of access to documents of the institutions , subject to the principles , conditions and limits defined in this regulation . 2 . this regulation shall apply to all documents held by an institution , namely , documents drawn up or received by it and in its possession concerning a matter relating to the policies , activities and decisions falling within its sphere of responsibility , in all areas of activity of the european union . 3 . without prejudice to articles 4 and 9 , documents shall be made accessible to the public either following a written application or directly in electronic form or through a register . in particular , documents drawn up or received in the course of a legislative procedure shall be made directly accessible in accordance with article 12 . 4 . sensitive documents as defined in article 9 shall be subject to special treatment in accordance with that article . 5 . this regulation shall not apply to documents submitted to courts by parties other than the institutions . 6 . without prejudice to specific rights of access for interested parties established by ec law , documents forming part of the administrative file of an investigation or of proceedings concerning an act of individual scope shall not be accessible to the public until the investigation has been closed or the act has become definitive . documents containing information gathered or obtained from natural or legal persons by an institution in the framework of such investigations shall not be accessible to the public . 7 . this regulation shall be without prejudice to rights of public access to documents held by the institutions which might follow from instruments of international law or acts of the institutions implementing them . ### beneficiaries any natural or legal person or any association of legal or natural persons shall have a right of access to documents of the institutions , bodies , offices and agencies , subject to the principles , conditions and limits defined in this regulation . 2 . persons who are eu representatives , such as members of the european parliament , of the council presidency , or the high representative for foreign affairs and security policy , or persons who work for a union institution , body , office or agency should use when acting in their official capacity the internal means available to them when looking for a document , unless they are acting as citizens rather than in connection with their professional duties .


### legal advice and court , arbitration and dispute settlement proceedings ; ### legal advice relating to court proceedings ;


### failure by the institution to reply within the prescribed time limit shall be considered as a negative reply and shall entitle the applicant to institute court proceedings against the institution and / or make a complaint to the ombudsman , under the relevant provisions of the ec treaty . ### failure by the institution , body , office or agency to reply within the prescribed time limit shall be considered as a definitive negative reply and shall entitle the applicant to institute court proceedings against the institution and / or make a complaint to the ombudsman , under the relevant provisions of the treaties .


### to define the principles , conditions and limits on grounds of public or private interest governing the right of access to european parliament , council and commission documents provided for in article 255 of the ec treaty in such a way as to grant the public the widest possible access to such documents ; ### to define in accordance with article 15 tfeu , the principles , conditions and limits on grounds of public or private interest governing the right of access to documents of union institutions , bodies , offices and agencies , in such a way as to grant the public the widest possible access to such documents ;


### the exceptions under paragraphs and shall apply unless there is an overriding public interest in disclosure . as regards paragraph 2 an overriding public interest in disclosure shall be deemed to exist where the information requested relates to emissions into the environment . ### the exceptions under paragraph shall apply unless there is an overriding public interest in disclosure . when assessing the public interest in disclosure , special weight shall be given to the fact that the requested documents relate to the protection of fundamental rights , environment , or human health .


### in accordance with article 255 of the ec treaty , each institution lays down specific provisions regarding access to its documents in its rules of procedure , ### in accordance with article 15 tfeu and the principles and rules outlined in this regulation , each institution , body , office and agency lays down specific provisions regarding access to its documents in its rules of procedure , as well as to documents relating to its administrative tasks ,


### the purpose of this regulation is to give the fullest possible effect to the right of public access to documents and to lay down the general principles and limits on such access in accordance with article 255 of the ec treaty . ### the purpose of this regulation is to give the fullest possible effect to the right of public access to documents and to lay down the general principles and the limits on grounds of public or private interest which govern such access in accordance with article 15 tfeu and with which all the other union rules should comply , subject to special provisions relating only to the court of justice of the european union , the european central bank and the european investment bank when performing non - administrative tasks . in order to bring about greater openness in the work of the institutions , bodies , offices and agencies , the right of access should also be applied to documents received by them .


### this regulation shall be without prejudice to any existing rules on copyright which may limit a third party ' s right to obtain copies of documents or to reproduce or exploit released documents . ### this regulation shall be without prejudice to any existing rules on copyright which may limit a third party ' s right to reproduce or exploit released documents .


### wider access should be granted to documents in cases where the institutions are acting in their legislative capacity , including under delegated powers , while at the same time preserving the effectiveness of the institutions ' decision - making process . such documents should be made directly accessible to the greatest possible extent . ### in compliance with article 15 tfeu , full access should be granted to documents in cases where , according to the treaties , the institutions are acting in their legislative capacity , including under delegated powers in accordance with article 290 tfeu and implementing powers in accordance with article 291 tfeu when adopting measures of general scope . preparatory legislative documents and all related information on the different stages of the interinstitutional procedure , such as council working group documents , names and positions of member states delegations acting as members of the council and first - reading trilogue documents , should in principle be made immediately and directly accessible to the public on the internet .


### proposal for a regulation of the european parliament and of the council regarding public access to european parliament , council and commission documents ### proposal for a regulation of the european parliament and the council defining the general principles and limits governing the right of access to documents of union institutions , bodies , offices and agencies


### some of the species that are invasive in the union may be native in some of the union’s outermost regions and vice versa . in the communication from the commission on “the outermost regions : an asset for europe”18 it was recognised that the remarkable biodiversity of the outermost regions calls for the development and implementation of measures to prevent and manage invasive alien species in those regions as defined by the treaty on the functioning of the european union taking into account european council decisions 2010 / 718 / eu of 29 october 2010 amending the status with regard to the european union of the island of saint - barthélemy19 and 2012 / 419 / eu of 11 july 2012 amending the status of mayotte with regard to the european union20 . therefore all the provisions of these new rules should apply to the union’s outermost regions except for provisions relating to invasive alien species of union concern which are native to those regions . in addition , to allow for the necessary protection of the biodiversity in such regions , it is necessary that the concerned member states draw up , as a complement to the list of invasive alien species of union concern , specific lists of invasive alien species for their outermost regions to which these new rules should also apply . __________________ 18 com 642 final . 19 oj l 325 , 9 . 12 . 2010 , p . 4 . 20 oj l 204 , 31 . 7 . 2012 , p . 131 . ### some of the species that are invasive in the union may be native in some of the union’s outermost regions and vice versa . in the communication from the commission on “the outermost regions : an asset for europe”18 it was recognised that the remarkable biodiversity of the outermost regions calls for the development and implementation of measures to prevent and manage invasive alien species in those regions as defined by the treaty on the functioning of the european union taking into account european council decisions 2010 / 718 / eu of 29 october 2010 amending the status with regard to the european union of the island of saint - barthélemy19 and 2012 / 419 / eu of 11 july 2012 amending the status of mayotte with regard to the european union20 . therefore all the provisions of these new rules should apply to the union’s outermost regions except for provisions relating to invasive alien species of union concern which are native to those regions . in addition , to allow for the necessary protection of the biodiversity in such regions , it is necessary that the member states concerned draw up , as a complement to the list of invasive alien species of union concern , specific lists of invasive alien species for their outermost regions to which these new rules should also apply . some of the alien species that are invasive in the union may be native to parts of the union and to outermost regions and vice versa . __________________ 18 com 642 final . 19 oj l 325 , 9 . 12 . 2010 , p . 4 . 20 oj l 204 , 31 . 7 . 2012 , p . 131 .


### the minimum set of data sent by the ecall in - vehicle system shall include only the minimum information required for the appropriate handling of emergency calls . ### the minimum set of data sent by the ecall in - vehicle system shall comprise the information required by the standard on ‘ intelligent transport systems - esafety - ecall minimum set of data . no additional data may be sent by the ecall in - vehicle system . the minimum data set shall not be stored for longer than is required for the appropriate handling of emergency calls and data shall be stored in such a way as to make possible its full deletion .


### in order to ensure open choice for customers and fair competition , as well as encourage innovation and boost the competitiveness of the union’s information technology industry on the global market , the ecall in - vehicle system should be accessible free of charge and without discrimination to all independent operators and based on an interoperable and open - access platform for possible future in - vehicle applications or services . ### in order to ensure open choice for customers and fair competition , as well as encourage innovation and boost the competitiveness of the union’s information technology industry on the global market , private or added value ecall in - vehicle systems should be based on the principle of data portability .


### any necessary additional information regarding the processing of personal data in relation to the provision of a private ecall service and / or other added value services . ### any necessary additional information regarding the processing of personal data in relation to the provision of a private ecall service and other added value services . in this context , special reference should be made to the differences between 112 ecall in - vehicle systems and private and other added value ecall services as regards data processing with regard , in particular , to the electronic tracking of the vehicle .


### the commission shall review and report on the implementation and effectiveness of this chapter , in particular as regards the scope of the reporting obligations and the modalities of the reporting on a project basis . the review should also take into account international developments and consider the effects on competitiveness and security of energy supply . it should be completed at the latest five years after the date of entry into force of this directive . the report shall be submitted to the european parliament and the council , together with a legislative proposal , if appropriate . ### the commission shall review and report on the implementation and effectiveness of this chapter , in particular as regards the scope of the reporting obligations and the modalities of the reporting on a project basis . the review should also take into account international developments and consider the effects on competitiveness and security of energy supply . it should be completed at the latest three years after the date of entry into force of this directive . the report shall be submitted to the european parliament and the council , together with a legislative proposal , if appropriate .


### where payments in kind are made to a government , they shall be reported in value or in volume . where they are reported in terms of value , supporting notes shall be provided to explain how their value has been determined . ### where payments in kind are made to a government , they shall be reported in value and in volume . where they are reported in terms of value , supporting notes shall be provided to explain how their value has been determined .


### taxes on profits ; ### taxes on profits and the effective tax rate applied ;


### member states shall require large undertakings and all public interest entities active in the extractive industry or the logging of primary forests to prepare and make public a report on payments made to governments on an annual basis . ### member states shall require all undertakings and public interest entities to prepare , have audited and make public a report on payments made to governments in their annual reports .


### the report shall specify the following when material to the recipient government : ### the report shall specify the following :


### member states shall require large undertakings and all public interest entities active in the extractive industry or the logging of primary forests to prepare and make public a report on payments made to governments on an annual basis . ### member states shall require large undertakings and all public interest entities to prepare and make public a report on payments made to governments on an annual basis . the report shall be attached to the annual financial statement .


### where those payments have been attributed to a specific project the amount per type of payment , including payments in kind , made for each such project within a financial year , and the total amount of payments for each such project . ### for undertakings active in the extractive industry and the logging of primary forests , where those payments have been attributed to a specific project the amount per type of payment , including payments in kind , made for each such project within a financial year , and the total amount of payments for each such project .


### the reports should serve to facilitate governments of resource - rich countries in implementing the eiti principles and criteria and account to their citizens for payments such governments receive from undertakings active in the extractive industry or loggers of primary forests operating within their jurisdiction . the report should incorporate disclosures on a country and project basis , where a project is considered as the lowest level of operational reporting unit at which the undertaking prepares regular internal management reports , such as a concession , geographical basin , etc and where payments have been attributed to such projects . in the light of the overall objective of promoting good governance in these countries , the materiality of payments to be reported should be assessed in relation to the recipient government . various criteria on materiality could be envisaged such as payments of an absolute amount , or a percentage threshold and these can be defined through a delegated act . the reporting regime should be subject to a review and a report by the commission within five years of the entry into force of the directive . the review should consider the effectiveness of the regime and take into account international developments including issues of competitiveness and energy security . the review should also take into account the experience of preparers and users of the payments information and consider whether it would be appropriate to include additional payment information such as effective tax rates and recipient details , such as bank account information . ### the reports should serve to facilitate governments of resource - rich countries in implementing the eiti principles and criteria and account to their citizens for payments such governments receive from undertakings active in the extractive industry or loggers of natural forests operating within their jurisdiction . the report should incorporate disclosures on a country and project basis , where a project is considered as equivalent to a set of activities governed by a specific licence , concession , contract or other legal agreement between the undertaking and a host government , where such agreement gives rise to specific revenue liabilities for the undertaking . in the light of the overall objective of promoting good governance in these countries , the materiality of payments to be reported should be assessed in relation to the recipient government . to promote comparability and ensure a relevant definition of materiality , payments shall be considered material if any one payment or set of payments of the same type amount to more than €15 , 000 . the reporting regime should be subject to a review and a report by the commission within five years of the entry into force of the directive . the review should consider the effectiveness of the regime and take into account international developments including issues of competitiveness and energy security , and the potential utility of promoting tax compliance by expanding the range of financial information required to include , inter alia , effective tax rates , production volumes , sales and profit , as well as extending enhanced reporting requirements to other major economic sectors . the review should also take into account the experience of preparers and users of the payments information and consider whether it would be appropriate to include additional information such as recipients’ bank account information .


### in order to take account of future changes to the laws of the member states and in the legislation of the union concerning company types , the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty in respect of updating the lists of undertakings contained in annexes i and ii . the use of delegated acts is also necessary to adapt the undertaking size criteria , as with the passage of time inflation will erode their real value . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level . in order to ensure a relevant and appropriate level of disclosure of payments to governments by the extractive industry and loggers of primary forests and to ensure uniform application of this directive , the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty in respect of the specification of the concept of materiality of payments . ### in order to take account of future changes to the laws of the member states and in the legislation of the union concerning company types , the commission should be empowered to adopt delegated acts in accordance with article 290 of the treaty in respect of updating the lists of undertakings contained in annexes i and ii . the use of delegated acts is also necessary to adapt the undertaking size criteria , as with the passage of time inflation will erode their real value . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level .


### member states shall require large undertakings and all public interest entities active in the extractive industry or the logging of primary forests to prepare and make public a report on payments made to governments on an annual basis . ### member states shall require large undertakings and all public interest entities to prepare , have audited and make public , as part of their annual financial statements , payments made to governments on an annual basis .


### the reports should serve to facilitate governments of resource - rich countries in implementing the eiti principles and criteria and account to their citizens for payments such governments receive from undertakings active in the extractive industry or loggers of primary forests operating within their jurisdiction . the report should incorporate disclosures on a country and project basis , where a project is considered as the lowest level of operational reporting unit at which the undertaking prepares regular internal management reports , such as a concession , geographical basin , etc and where payments have been attributed to such projects . in the light of the overall objective of promoting good governance in these countries , the materiality of payments to be reported should be assessed in relation to the recipient government . various criteria on materiality could be envisaged such as payments of an absolute amount , or a percentage threshold and these can be defined through a delegated act . the reporting regime should be subject to a review and a report by the commission within five years of the entry into force of the directive . the review should consider the effectiveness of the regime and take into account international developments including issues of competitiveness and energy security . the review should also take into account the experience of preparers and users of the payments information and consider whether it would be appropriate to include additional payment information such as effective tax rates and recipient details , such as bank account information . ### the reports should serve to facilitate governments of resource - rich countries in implementing the eiti principles and criteria and account to their citizens for payments such governments receive from undertakings active in the extractive industry or loggers of primary forests operating within their jurisdiction . the report should incorporate disclosures on a country and project basis , where a project is considered as the lowest level of operational reporting unit at which the undertaking prepares regular internal management reports , such as a concession , geographical basin , etc and where payments have been attributed to such projects . as regards materiality , the report should exclude any payments that do not exceed eur 100 000 or payments that have been attributed to a project with an overall cost of less than eur 25 million . the reporting regime should be subject to a review and a report by the commission within three years of the entry into force of the directive . the review should consider the effectiveness of the regime and take into account international developments including issues of competitiveness and energy security . the review should also take into account the experience of preparers and users of the payments information and consider whether it would be appropriate to include additional payment information such as effective tax rates and recipient details , such as bank account information .


### deposits that fulfil social considerations defined in national law and are linked to particular life events such as marriage , divorce , invalidity or decease of a depositor . the coverage shall not exceed a time period of 12 months after such even . ### deposits that serve social purposes defined in national law and are linked to particular life events such as marriage , divorce , retirement , dismissal , invalidity or decease of a depositor , for up to 12 months after the amount has been credited ;


### member states shall ensure that deposit guarantee schemes do not deviate from the coverage level laid down in paragraph 1 . however , member states may decide that the following deposits are covered provided that the costs for such repayments are not subject to article 9 , 10 and 11 : ### member states shall ensure that deposit guarantee schemes confer an entitlement pursuant to paragraph 1 . in addition , member states shall ensure that the following deposits are fully protected :


### member states shall ensure that deposit guarantee schemes do not deviate from the coverage level laid down in paragraph 1 . however , member states may decide that the following deposits are covered provided that the costs for such repayments are not subject to article 9 , 10 and 11 : ### member states shall ensure that deposit guarantee schemes do not deviate from the coverage level laid down in paragraph 1 . member states shall ensure that the following deposits are fully protected :


### in addition to changing their funding patterns , the ifrs foundation and efrag have undergone governance reforms to ensure that through their structure and processes they accomplish their public interest mission in an independent , efficient , transparent and democratically accountable manner . in relation to the ifrs foundation , the monitoring board was created in 2009 to ensure public accountability and oversight , the effectiveness of the standards advisory council has been enhanced , transparency has been improved and the role of impact assessments has been formalised as part of the due process of the iasb . ### in addition to changing their funding patterns , the ifrs foundation and efrag have undergone governance reforms to ensure that through their structure and processes they accomplish their public interest mission in an independent , efficient , transparent and democratically accountable manner . in relation to the ifrs foundation , the monitoring board was created in 2009 to ensure public accountability and oversight , the effectiveness of the standards advisory council has been enhanced , transparency has been improved and the role of impact assessments has been formalised as part of the due process of the iasb . the same kind of structural governance reforms have to be undertaken on the efrag level .


### in addition to changing their funding patterns , the ifrs foundation and efrag have undergone governance reforms to ensure that through their structure and processes they accomplish their public interest mission in an independent , efficient , transparent and democratically accountable manner . in relation to the ifrs foundation , the monitoring board was created in 2009 to ensure public accountability and oversight , the effectiveness of the standards advisory council has been enhanced , transparency has been improved and the role of impact assessments has been formalised as part of the due process of the iasb . ### in addition to changing their funding patterns , the ifrs foundation and efrag have undergone governance reforms to ensure that through their structure and processes they accomplish their public interest mission in an independent , efficient , transparent and democratically accountable manner . efforts to improve the way in which these bodies are governed will continue on the basis of the conclusions of the special adviser to the internal market commissioner . experience shows that it is as vital as ever to bring about a change in these bodies’ governance arrangements . their funding , and the annual renewal thereof , should therefore be conditional on them meeting a number of criteria relating to the principles which govern the substance of the standards , and to the governance of these bodies .


### taking into account efrag ' s key role in supporting internal market law and policy and in representing european interests in the standard - setting process at international level , it is necessary for the union to ensure efrag ' s stable financing and thus contribute to its funding . ### taking into account efrag ' s single role in ensuring that ifrs are compliant with the requirements of union company law and policy , as laid out in the ias regulation 2002 , it is necessary for the union to ensure efrag ' s stable financing and thus contribute to its funding . such financing arrangements should be reassessed in the light of any decision taken to give efrag more responsibilities in terms of influencing the iasb in addition to fulfilling the basic task required by the ias regulation 2002 .


### taking into account efrag ' s key role in supporting internal market law and policy and in representing european interests in the standard - setting process at international level , it is necessary for the union to ensure efrag ' s stable financing and thus contribute to its funding . ### taking into account efrag ' s single role in ensuring that ifrs are compliant with the requirements of union company law and policy , as laid out in the ias regulation 2002 , it is necessary for the union to ensure efrag ' s stable financing and thus contribute to its funding provided its board structure and working rules are reformed and its mission is clarified . such financing arrangements should be further reassessed in the light of any decision taken to give efrag more responsibilities in terms of influencing the iasb in addition to fulfilling the basic task required by the ias regulation 2002 . the european commission is invited to come forward at the latest by beginning 2014 with a legislative proposal taking into account the conclusions of philippe maystadt , whose mission will focus on a review of the governance of eu bodies in the field of financial reporting and accounting and the accounting regulatory committee ) .


### the european financial reporting advisory group was founded in 2001 by european organisations representing issuers , investors and the accountancy profession involved in the financial reporting process . in accordance with regulation no 1606 / 2002 , efrag provides the commission with opinions on whether an accounting standard issued by the iasb or an interpretation issued by the ifrs interpretations committee , which is to be endorsed , complies with the endorsement criteria set out in that regulation . efrag is also taking up the role of the ‘ single european accounting voice’ in the global arena . in that capacity , efrag provides input to the iasb ' s standard - setting process . ### the european financial reporting advisory group was founded in 2001 by european organisations representing issuers , investors and the accountancy profession involved in the financial reporting process . in accordance with regulation no 1606 / 2002 , efrag provides the commission with opinions on whether an accounting standard issued by the iasb or an interpretation issued by the ifrs interpretations committee , which is to be endorsed , complies with the endorsement criteria set out in that regulation .


### the objective of the programme is to improve the conditions for the functioning of the internal market by supporting transparent and independent development of international financial reporting and auditing standards . ### the objective of the programme is to improve the conditions for the functioning of the internal market and to strengthen corporate governance by supporting transparent and independent development of international financial reporting and auditing standards .


### draft legislative resolution ### points out that the financial envelope specified in the legislative proposal constitutes only an indication to the legislative authority and cannot be fixed until agreement is reached on the proposal for a regulation laying down the multiannual financial framework for the years 2014 - 2020 ; stresses the need , therefore , to create close linkage between the financing programme and the objectives of the reform of the recipient bodies , in the interests of the union ;


### the programme covers the activities of developing or providing input to the development of standards , applying , assessing or monitoring standards or overseeing standard - setting processes in support of the implementation of union policies in the field of financial reporting and auditing . ### the actual programme covers the activities of the following organizations : - iascf , which develops high quality accounting standards , - efrag , which assesses whether or not an ifrs is compliant with eu accounting directives as part of the implementation of union policies in the field of financial reporting and auditing , and - piob , which assesses whether or not an isa and ethical standards for auditors are compliant with the public interest of the implementation of union policies in the field of financial reporting and auditing .


### in a global economy , there is a need for a global accounting language . international financial reporting standards developed by the international accounting standards board are adopted and used in many jurisdictions around the world . such international accounting standards need to be developed under a transparent and democratically accountable process . to ensure that the interests of the union are respected and that global standards are of high quality and compatible with union law , it is essential that the interests of the union are adequately taken into account in that international standard - setting process . ### in a global economy , a global accounting language is a legitimate aim . the g20 has repeatedly called for global accounting standards and convergence . international financial reporting standards developed by the international accounting standards board are adopted and used in a number of jurisdictions around the world , often with qualifications or limitations , but are not used by the united states or japan . in any event , such international accounting standards need to be developed under a transparent and democratically accountable process . to ensure that the interests of the union are respected and that global standards are of high quality and compatible with union law , it is essential that the interests of the union are adequately taken into account in that international standard - setting process .


### any beneficiary of funding awarded under the programme shall indicate in a prominent place , such as a website , a publication or an annual report , that it has received funding from the budget of the european union . ### any beneficiary of funding awarded under the programme shall indicate in a prominent place , such as a website , a publication or an annual report , that it has received funding from the budget of the european union as well as a detailed overview of the other funding from alternative sources .


### this regulation should apply to the out - of - court resolution of contractual disputes between consumers and traders that arise from the online sale of goods or provision of services by traders across borders . it should not apply to disputes between consumers and traders that arise from the online sale of goods or provision of services if at least one of them is not established or resident in a member state of the union at the time when the consumer orders such goods or services or the trader and the consumer are established or resident in the same member state . ### this regulation should apply to the out - of - court resolution of contractual disputes between consumers and traders that arise from the sale of goods or provision of services by traders . it should not apply to disputes between consumers and traders that arise from the sale of goods or provision of services if at least one of them is not established or resident in a member state of the union at the time when the consumer orders such goods or services . this regulation should be limited to complaints submitted by consumers against traders .


### the commission shall lay down the modalities of the electronic complaint form by means of implementing acts . those implementing acts shall be adopted in accordance with the advisory procedure referred to in article 15 . ### the commission shall be empowered to adopt delegated acts in accordance with article 16 to lay down the modalities of the electronic complaint form , taking into account technical progress . before adopting such delegated acts , the commission shall consult the european data protection supervisor .


### ‘ alternative dispute resolution procedure’ means a procedure for the out - of - court resolution of a dispute through the intervention of a dispute resolution entity which proposes or imposes a solution or brings the parties together with the aim of facilitating an amicable solution ; ### ' alternative dispute resolution procedure ' means a procedure , as referred to in article 2 of [ office of publications please insert number of directive of the european parliament and of the council on alternative dispute resolution for consumer disputes and amending regulation no 2006 / 2004 and directive 2009 / 22 / ec ] , for the out - of - court resolution of domestic and cross - border contractual disputes through the intervention of a dispute resolution entity which proposes or imposes a solution or brings the parties together with the aim of facilitating an amicable solution and which complies with the quality criteria set out in chapter ii of [ office of publications please insert number of directive of the european parliament and of the council on alternative dispute resolution for consumer disputes and amending regulation no 2006 / 2004 and directive 2009 / 22 / ec ] ; procedures before dispute resolution entities where the natural persons in charge of dispute resolution are employed by or receive any form of remuneration from the trader , direct negotiation between the consumer and the trader , whether represented or not , and attempts made by a judge to settle a dispute in the course of a judicial proceeding concerning that dispute shall not be regarded as adr procedures ;