CELEX: 51996PC0154
Language: en
Date: 1996-04-11
Title: Proposal for a COUNCIL DECISION concerning the conclusion on behalf of the European Community, as regards matters within its competence, of the results of the WTO negotiations on financial services and on movement of natural persons

Avis juridique important

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51996PC0154

Proposal for a COUNCIL DECISION concerning the conclusion on behalf of the European Community, as regards matters within its competence, of the results of the WTO negotiations on financial services and on movement of natural persons  /* COM/96/0154 FINAL - CNS 96/0105 */  

Official Journal C 194 , 05/07/1996 P. 0012

Proposal for a Council Decision concerning the conclusion on behalf of the European  Community, as regards matters within its competence, of the results of the WTO negotiations on  financial services and on movement of natural persons(96/C  194/09)COM(96) 154 final -  96/0105(CNS)(Submitted by the Commission on 12 April 1996)THE COUNCIL OF THE  EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Articles 54, 57,  63, 66, 73c (2), 100, 100A and 113, in conjunction with the second sentence of Article 228 (2) and  the first sub-paragraph of Article 228 (3) thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the Economic and Social Committee, Having regard to the opinion of the European Parliament, Whereas the Marrakesh Agreement establishing the World Trade Organization and its related  agreements as well as the Ministerial Decisions and Declarations and the Understanding on  Commitments in Financial Services were approved by a Council Decision of 22  December  1994  (1); Whereas the overall commitments on financial services negotiated by the Commission, on behalf of  the European Community and its Member States, constitutes a satisfactory and balanced outcome for  the interim period concerned; Whereas some commitments were negotiated by the Commission on behalf of the European Community and  its Member States on movement of natural persons for the purpose of supplying services; Whereas on 26 July 1995 the Council authorized the Commission to agree, on behalf of the European  Community and its Member States, to the Decision of the Committee on Trade in Financial Services  adopting the Second Protocol to the General Agreement on Trade in Services, the Decision of the  Council for Trade in Services on Commitments on Financial Services and the Second Decision of the  Council for Trade in Services on Financial services as well as the Decision of the Council for  Trade in Services on movement of natural persons commitments; Whereas the competence of the Community to conclude international agreements does not derive only  from explicit conferral by the Treaty but may also derive from other provisions of the Treaty and  from Acts adopted pursuant to those provisions by Community institutions; Whereas where Community rules have been adopted in order to achieve the aims of the Treaty, Member  States may not, outside the framework of the common institutions, enter into commitments liable to  affect those rules or alter their scope; Whereas some commitments on financial services fall within the competence of the Community under  Article 113 of the Treaty, whereas, furthermore, other commitments on financial services as well as  the commitments on movement of natural persons affect Community rules adopted on the basis of  Articles 54, 57, 63, 66, 100 and 100A, and may therefore only be entered into by the Community  alone; Whereas, the use of Article 73c (2) of the Treaty as a legal basis for this Decision is required  since the results of the WTO negotiations on financial services and on movement of natural persons  impose certain obligations on the Community regarding the movement of capital and payments between  the Community and third countries Members of the WTO; Whereas, by its nature, the Agreement establishing the World Trade Organization and the Protocols  to the General Agreement on Trade in Services, are not susceptible to being directly invoked in  Community or Member States courts, HAS DECIDED AS FOLLOWS: Article 1 1.  The Second Protocol to the General Agreement on Trade in Services  concerning financial services is hereby approved on behalf of the European Community with regard to  that portion of it which falls within the competence of the European Community. 2.  The text of the Second Protocol as well as the following decisions are attached to this  Decision: - the Decision of the Committee on Trade in Financial Services adopting the Second Protocol to the  General Agreement on Trade in Services, - the Decision of the Council for Trade in Services on Commitments on Financial Services, - the Second Decision of the Council for Trade in Services on Financial services. 3.  The President of the Council is hereby authorized to designate the person empowered to sign the  Second Protocol to the General Agreement on Trade in Services in order to bind the European  Community with regard to that portion of the Protocol falling within its competence. Article 2 1.  The Third Protocol to the General Agreement on Trade in Services concerning  movement of natural persons is hereby approved on behalf of the European Community with regard to  that portion of it which falls within the competence of the European Community. 2.  The text of the Third Protocol as well as the Decision of the Council for Trade in Services on  movement of natural persons commitments are attached to this Decision. 3.  The President of the Council is hereby authorized to designate the person empowered to sign the  Third Protocol to the General Agreement on Trade in Services in order to bind the European  Community with regard to that portion of the Protocol falling within its competence. (1)  OJ No L 336, 23. 12. 1994, p. 1.   Third protocol to the general agreement on trade in services Members of the World  Trade Organization whose Schedules of Specific Commitments to the General Agreement on Trade in  Services relating to movement of natural persons are annexed to this Protocol, Having carried out negotiations under the terms of the Ministerial Decision on Negotiations on  Movement of Natural Persons adopted at Marrakesh on 15 April 1994, Having regard to the results of such negotiations, Having reard to the Decision on the Movement of Natural Persons adopted by the Council for Trade in  Services on 30 June 1995, Agree as follows: 1.  The commitments on Movement of Natural Persons annexed to this Protocol  relating to a Member shall, upon the entry into force of this Protocol for that Member, replace or  supplement the relevant entries on movement of natural persons in the Schedule of Specific  Commitments of that Member. 2.  This Protocol shall be open for acceptance, by signature or otherwise, by Members concerned  until 30 June 1996. 3.  This Protocol shall enter into force on the 30th day after 1 January 1996 for those Members  which have accepted it by that date, and for those accepting it after that date, which date shall  not be beyond 30 June 1996, it shall enter into force on the 30th day following the date of each  acceptance. If a Member whose schedule is annexed to this Protocol does not accept it by that date,  the matter shall be referred to the Council for Trade in Services for consideration and appropriate  action. 4.  This Protocol shall be deposited with the Director-General of the World Trade Organization. The  Director-General shall promptly furnish to each Member a certified copy of this Protocol and  notifications of acceptances thereof pursuant to paragraph 3. 5.  This Protocol shall be registered in accordance with the provisions of Article 102 of the  Charter of the United Nations. Done at Geneva this .  .  . day of [month] one thousand nine hundred and  ninety-five, in a single copy in English, French and Spanish languages, each text being authentic,  except as otherwise provided for in respect of the Schedules annexed hereto. Decision on movement of natural persons commitments Adopted by the Council for Trade in  Services on 21 July 1995The Council for Trade in Services, Having regard to the results of the negotiations conducted under the terms of the Decision on  Movement of Natural Persons adopted at Marrakesh on 15 April 1994, Having regard to the Decision on the Movement of Natural Persons adopted by the Council for Trade  in Services on 30 June 1995, Decides as follows: 1.  To adopt the text of the 'Third Protocol to the General Agreement on Trade in  Services`. 2.  Commencing immediately and continuing until the date of entry into force of the Third Protocol  to the General Agreement on Trade in Services, Members concerned shall, to the fullest extent  consistent with their existing legislation, not take measures which would be inconsistent with  their undertakings resulting from these negotiations. 3.  The Council for Trade in Services shall monitor the acceptance of the Protocol by Members  concerned and shall, at the request of a Member, examine any concerns raised regarding the  application of paragraph 2 above. Second Protocol to the General Agreement on Trade in Services Members of the  World Trade Organization (hereinafter referred to as the 'WTO`) whose Schedules of Specific  Commitments and Lists of Exemptions from Article II of the General Agreement on Trade in Services  concerning financial services are annexed to this Protocol (hereinafter referred to as 'Members  concerned`), Having carried out negotiations under the terms of the Ministerial Decision on Financial Services  adopted at Marrakesh on 15 April 1994, Having regard to the Second Annex on Financial Services, and to the Decision on the application of  that Annex adopted by the Council for Trade in Services on 30 June 1995, Agree as follows: 1.  A Schedule of Specific Commitments and a List of Exemptions from Article II  concerning financial services annexed to this Protocol relating to a Member shall, upon the entry  into force of this Protocol for that Member, replace the financial services sections of the  Schedule of Specific Commitments and the List of Article II Exemptions of that Member. 2.  This Protocol shall be open for acceptance, by signature or otherwise, by the Members concerned  until 30 June 1996. 3.  This Protocol shall enter into force on the 30 day following the date of its acceptance by all  Members concerned. If by 1 July 1996 it has not been accepted by all Members concerned, those  Members which have accepted it before that date may, within a period of 30 days thereafter, decide  on its entry into force. 4.  This Protocol shall be deposited with the Director-General of the WTO. The Director-General of  the WTO shall promptly furnish to each Member of the WTO a certified copy of this Protocol and  notifications of acceptances thereof pursuant to paragraph 3. 5.  This Protocol shall be registered in accordance with the provisions of Article 102 of the  Charter of the United Nations. Done at Geneva this .  .  . day of [month] one thousand nine hundred and  ninety-five, in a single copy in English, French and Spanish languages, each text being authentic,  except as otherwise provided for in respect of the Schedules annexed hereto. Decision adopting the Second Protocol to the General Agreement on Trade in Services  Adopted by the Committee on Trade in Financial Services on 21 July 1995The Committee on  Trade in Financial Services, Having regard to the results of the negotiations conducted under the terms of the Decision on  Financial Services adopted at Marrakesh on 15 April 1994, Having regard to the Second Annex on Financial Services, and to the Decision on the application of  that Annex adopted by the Council for Trade in Services on 30 June 1995, Decides as follows: 1.  To adopt the text of the 'Second Protocol to the General Agreement on Trade  in Services`. 2.  Commencing immediately and continuing until the date of entry into force of the Second Protocol  to the General Agreement on Trade in Services, Members concerned shall, to the fullest extent  consistent with their existing legislation, not take measures which would be inconsistent with  their undertakings resulting from these negotiations. 3.  The Committee on Trade in Financial Services shall monitor the acceptance of the Protocol by  Members concerned and shall, at the request of a Member, examine any concerns raised regarding the  application of paragraph 2 above. Decision on commitments in Financial Services Adopted by the Council for Trade in  Services on 21 July 1995The Council for Trade in Services, Having regard to the Second Annex on Financial Services, and the Second Protocol to the General  Agreement on Trade in Services, Having regard to the Decision on the Application of the Second Annex on Financial Services adopted  by the Council for Trade in Services on 30 June 1995, Noting the results of the negotiations carried out under the terms of the Decision on Financial  Services adopted at Marrakesh on 15 April 1994, Decides as follows: 1.  If the Second Protocol to the General Agreement on Trade in Services (GATS)  does not enter into force in accordance with paragraph 3 therein: (a) Notwithstanding Article XXI of the GATS, a Member may during a period of 60 days beginning on 1  August 1996, modify or withdraw all or part of the Specific Commitments on Financial services  inscribed in its Schedule. (b) Notwithstanding Article II of the GATS and paragraphs 1 and 2 of the Annex on Article II  Exemptions, a Member may, during the same period referred to in paragraph 1, list in that Annex  measures relating to financial services which are inconsistent with paragraph 1 of Article II of  the GATS. 2.  The Committee on Trade in Financial Services shall establish any procedures necessary for the  implementation of paragraph 1. Second decision on financial services Adopted by the Council for Trade in Services on 21  July 1995The Council for Trade in Services, Having regard to the Second Annex on Financial Services, Noting the results of the negotiations carried out under the terms of the Decision on Financial  Services adopted at Marrakesh on 15 April 1994, Having regard to the Decision on the Application of the Second Annex on Financial Services adopted  by the Council for Trade in Services on 30 June 1995, Decides as follows: 1.  Notwithstanding Article XXI of the General Agreement on Trade in Services  (GATS), a Member may during a period of 60 days beginning on 1 November 1997, modify or withdraw  all or part of the Specific Commitments on Financial Services inscribed in its Schedule. 2.  Notwithstanding Article II of the GATS and paragraphs 1 and 2 of the Annex on Article II  Exemptions, a Member may, during the same period referred to in paragraph 1, list in that Annex  measures relating to financial services which are inconsistent with paragraph 1 of Article II of  the GATS. 3.  The Committee on Trade in Financial Services shall oversee any negotiations that may take place  prior to the date specified in paragraph 1. It shall also establish any procedures necessary for  the application of paragraphs 1 and 2. 4.  The application of this Decision shall be contingent upon the entry into force of the Second  Protocol to the General Agreement on Trade in Services. >