Proposal for a Directive of the European Parliament and of the Council amending Directive 92/49/EEC on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance, as regards the implementing powers conferred on the Commission
Date: 2006-12-22
Institutions: European Commission
Subjects: European Commission, insurance company, insurance law, powers of the institutions (EU), right of establishment

COMMISSION OF THE EUROPEAN COMMUNITIES 

Brussels, 22.12.2006 
COM(2006) 924 final 

2006/0289 (COD) 

Proposal for a  

DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL 

amending 

Directive 92/49/EEC on the coordination of laws, regulations and administrative 
provisions relating to direct insurance other than life assurance, as regards the 
implementing powers conferred on the Commission 

(presented by the Commission) 

EN 

   EN 

 
 
 
  
 
2006/0289 (COD) 

Proposal for a  

DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL 

amending 

Directive 92/49/EEC on the coordination of laws, regulations and administrative 
provisions relating to direct insurance other than life assurance, as regards the 
implementing powers conferred on the Commission 

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, 

Having regard to the Treaty establishing the European Community, and in particular Article 
47(2) and 55 thereof, 

Having regard to the proposal from the Commission1, 

Having regard to the opinion of the European Economic and Social Committee2, 

Acting in accordance with the procedure laid down in Article 251 of the Treaty3, 

Whereas: 

(1) 

(2) 

1 
2 
3 
4 

5 

Directive 92/49/EEC of the European Parliament and of the Council of 18 June 1992 
on the coordination of laws, regulations and administrative provisions relating to direct 
insurance  other  than  life  assurance  and  amending  Directives  73/239/EEC  and 
88/357/EEC4  provides  that  certain  measures  are  to  be  adopted  in  accordance  with 
Council  Decision  1999/468/EC  of  28  June  1999  laying  down  the  procedures  for  the 
exercise of implementing powers conferred on the Commission5. 

Decision 1999/468/EC has been amended by Decision 2006/512/EC, which introduced 
a regulatory procedure with scrutiny for measures of general scope designed to amend 
non-essential elements of a basic instrument adopted in accordance with the procedure 
referred to in Article 251 of the Treaty, including by deleting some of those elements 
or by supplementing the instrument by the addition of new non-essential elements. 

OJ C […], […], p. […]. 
OJ C […], […], p. […]. 
OJ C […], […], p. […]. 
OJ L 228, 11.8.1992, p. 1. Directive as last amended by Directive 2005/68/EC (OJ L 323, 9.12.2005, p. 
1). 
OJ  L  184,  17.7.1999,  p.  23.  Decision  as  amended  by  Decision  2006/512/EC  (OJ  L  200,  22.7.2006, 
p.11). 

EN 

2 

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(3) 

(4) 

In accordance with the joint statement of the European Parliament, the Council and the 
Commission6 on Decision 2006/512/EC, instruments which are already in force must 
be  adjusted  in  accordance  with  the  applicable  procedures.  That  statement  indicates  a 
list  of  instruments  which  should  be  adjusted  as  a  matter  of  urgency,  including 
Directive 2005/1/EC. To align this Directive, Directive 92/49/EC should be amended. 

In  particular  power  should  be  conferred  on  the  Commission  to  adopt  the  measures 
necessary for the implementation of Directive 92/49/EEC in order to take account of 
technical developments in the insurance sector or on financial markets and to ensure 
uniform application of that Directive. More particularly, those measures are designed 
to  extend  the  list  of  legal  forms,  amend  the  list  of  classes  of  insurance  or  adapt  the 
terminology used in that list, clarify the items constituting the solvency margin, alter 
the minimum guarantee fund, amend the list of assets acceptable as cover for technical 
provisions and the rules on the spreading of investments, change the relaxations in the 
matching rules and clarify definitions. Since those measures are of general scope and 
are designed to amend  non-essential  elements of  Directive 92/49/EC, they should be 
adopted  in  accordance  with  the  regulatory  procedure  with  scrutiny  provided  for  in 
Article 5a of Decision 1999/468/EC. 

(5) 

Directive 92/49/EEC should therefore be amended accordingly. 

(6) 

Since  the  amendments  to  be  made  to  Directive  92/49/EEC  by  this  Directive  are 
adjustments of a technical nature which only concern the committee procedure they do 
not  need  to  be  transposed  by  the  Member  States.  It  is  therefore  not  necessary  to  lay 
down provisions to that effect. 

HAVE ADOPTED THIS DIRECTIVE: 

Article 1 

In  Article  51  of  Directive  92/49/EC  the  introductory  phrase  is  replaced  by  the 
following: 

"The  following  technical  adjustments  designed  to  amend  non-essential  elements  of 
Directives  73/239/EEC  and  88/357/EEC  and 
including  by 
supplementing  them,  shall  be  adopted  in  accordance  with  the  regulatory  procedure 
with  scrutiny  referred  to  in  Article  2(1)  second  subparagraph  of  Directive 
91/675/EEC" 

this  Directive, 

This  Directive  shall  enter  into  force  on  the  [..]  day  following  that  of  its  publication  in  the 
Official Journal of the European Union. 

Article 2 

6 

OJ C 255, 21.10.2006, p. 1. 

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3 

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Article 3 

This Directive is addressed to the Member States. 

Done at Brussels,  

For the European Parliament 
The President 

For the Council 
The President 

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