EN Official Journal of the European Communities L 314/24

COUNCIL DIRECTIVE

of 27 November 1984

concerning the reciprocal obligations of export credit insurance organizations of the Member States acting on behalf of the State or with its support, or of public departments acting in place of such organizations, in the case of joint guarantees for a contract involving one or more subcontracts in one or more Member States of the European Communities

(84/568/EEC)

THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community, and in particular Articles 100 and 113 thereof,

Having regard to the proposal from the Commission,

Whereas insurance and finance for export influence international trade flows and as such constitute a powerful instrument of commercial policy;

Whereas the increasing interdependence of the Member States' economies results in a trend towards the growth of export operations undertaken on a cooperative basis by a number of undertakings in different Member States;

Whereas such cooperation is a major, or even decisive, factor in the competitiveness of Community exports on third-country markets;

Whereas, accordingly, such cooperation should be encouraged, particularly in the field of subcontracting;

Whereas differences between the export guarantee and finance systems at present in force in the Member States may give rise to difficulties in the carrying out of such export operations;

Whereas joint insurance is a form of cooperation between credit insurers of different Member States which allows undertakings in those Member States to cooperate in export operations;

Whereas in consequence it is important to establish and extend the smooth operation of this form of cooperation between credit insurers;

Whereas, finally, the guarantee and finance systems in force in Member States have a direct effect on the working of the common market, and it would appear useful also to apply this form of cooperation in the field of intra-Community trade; whereas implementation of the present Directive does not however involve any modification of Member States' legislative provisions, and consultation of the European Parliament is therefore not compulsory,

HAS ADOPTED THIS DIRECTIVE:

Article 1

1. Member States shall ensure that their export credit insurance organizations acting on behalf of the State or with its support, or the public departments acting in place of such organizations, comply with the provisions of the specimen agreement annexed hereto as regards their reciprocal obligations if deciding to grant, jointly with an organization or public department of another Member State, guarantees relating to a contract involving one or more subcontracts in one or more Member States.

2. The annexed provisions shall not preclude the adoption by the organizations or departments referred t6 in paragraph 1 of additional provisions not affecting the scope of the provisions annexed hereto, when applying the latter to any specific operation.

Article 2

The Commission shall, two years after implementation of this Directive, submit a report on the experience gained from the application of the provisions annexed hereto.

The Commission may at any time submit proposals to modify these provisions.

Article 3

Member States shall table the measure necessary to ensure compliance with the provisions of the Annex within six months of notification (1) of this Directive.

They shall inform the Commission of these measures.

Article 4

This Directive is addressed to the Member States.

Done at Brussels, 27 November 1984. For the Council The President P. BARRY

(1) This Directive was notified to the Member States on 3 December 1984.