CELEX: 51996PC0027
Language: en
Date: 1996-01-29
Title: Amended proposal for a EUROPEAN PARLIAMENT AND COUNCIL DIRECTIVE AMENDING DIRECTIVE 89/647/EEC AS REGARDS THE RECOGNITION OF CONTRACTUAL NETTING BY THE COMPETENT AUTHORITIES

COMMISSION OF THE EUROPEAN COMMUNITIES
                                          Brussels,29.01.l996
                                          COM(96) 11 final
                                          94/0099 (COD)
                OPINION OF THE COMMISSION
        pursuant to Article 189 b (2) (d) of the EC Treaty,
             on the European Parliament's amendment
         to the Council's common position regarding the
                           proposal for a
     EUROPEAN PARLIAMENT AND COUNCIL DIRECTIVE
             AMENDING DIRECTIVE 89/647/EEC
AS REGARDS THE RECOGNITION OF CONTRACTUAL NETTING
            BY THE COMPETENT AUTHORITIES
      AMENDING THE PROPOSAL OF THE COMMISSION
          pursuant to Article 189 a (2) of the EC Treaty
 ---pagebreak---  ---pagebreak---                             OPINION OF THE COMMISSION
                      pursuant to Article 189b(2)(d) of the EC Treaty
                          on the European Parliament's amendment
                       to the Council Common Position regarding the
                                       proposal for a
            EUROPEAN PARLIAMENT AND COUNCIL DIRECTIVE
                          AMENDING DIRECTIVE 89/647/EEC
      AS REGARDS THE RECOGNITION OF CONTRACTUAL NETTING
                        BY THE COMPETENT AUTHORITIES
I.     STAGE REACHED IN THE PROCEDURE
(a) On 27 April 1994 the Commission adopted its original proposal for a Directive1. The
    proposal was sent to the Council by letter of the same date.
     The Council immediately sent copies of the proposal to the Parliament and the
     Economic and Social Committee.
(b) On 14 September 1994 at its 318th Plenary Session in Brussels the Economic and
    Social Committee unanimously adopted an opinion2 on the Commission proposal. It
    approved the Commission proposal in principle but requested certain amendments.
1
    OJNrC 231, 20.8.1994, p. 20
2
    OJ NrC 393, 31.12.1994, p. 30
 ---pagebreak--- (c) By letter of 16 January 1995 the European Monetary Institute submitted its opinion
    endorsing the Commission proposal in principle.
(d) At its sitting of 16 February 1995 the European Parliament unanimously adopted the
    legislative resolution embodying its opinion3 on the Commission proposal.
    Parliament suggested 9 amendments to the proposal.
(e) On 10 May 1995 the Commission adopted and transmitted to the Council an amended
    proposal4. It took account of the consultations of Parliament, the Economic and
    Social Committee and the European Monetary Institute and introduced at least in
    substance the 9 amendments proposed by Parliament.
(1) On 5 September 1995 the Council adopted the common position5. It introduced a
    number of amendments to the Commission's amended proposal; in particular it
    rejected 6 out of the 9 Parliament amendments inserted in the amended proposal.
(g) In the plenary session of 21 September 1995 the President of the Parliament
    announced receipt of the Common Position.
(h) on 14 December 1995 the European Parliament adopted unanimously one amendment
    to the Common Position6.
    In accordance with the procedure described in Article 189b(2)(d) of the Treaty, the
    Commission has to deliver an opinion on this amendment.
3
    OJNrC56, 6.3.1995, p. 79
4
    OJNrC 165, 1.7.1995, p. 1
 5
    OJNrC 288, 30.10.1995, p. 30
h
    Text not yet published m the OlYkMl Journal
                                                2
 ---pagebreak--- 2. POSITION TAKEN BY THE COMMISSION REPRESENTATIVE AT THE
    PLENARY SITTING
The European Parliament proposed one amendment to the text of the Common Position
of the Council. The Commission representative accepted this amendment in the plenary
session because it is rather likely to be approved by the Council thereby avoiding the
conciliation procedure and promoting expedient adoption of the Directive.
3. THE COMMISSION OPINION ON THE AMENDMENT VOTED BY THE
    EUROPEAN PARLIAMENT
The amendment aims to render the transposition of the Directive compulsory for the
Member States. The Commission has reliable indication that the Council is also willing
to accept this amendment.
The Commission accepts this amendment.
 ---pagebreak---                         Amended proposal for a
      EUROPEAN PARLIAMENT AND COUNCIL DIRECTIVE
                 AMENDING DIRECTIVE 89/647/EEC
AS REGARDS THE RECOGNITION OF CONTRACTUAL NETTING
                BY THE COMPETENT AUTHORITIES
(presented by the Commission pursuant to Article 189a(2) of the EC Treaty)
 ---pagebreak---                             EXPLANATORY STATEMENT
The amendment aims to render the transposition of the Directive compulsory for the
Member States. This is in line with Article 189 of the EC Treaty stating that a "...
directive shall be binding, as to the result to be achieved, upon each Member State to
which it is addressed ...".
Therefore, the Commission accepts this amendment.
 ---pagebreak---     Common Position of the Council                     Amendments by Parliament
                                        (Amendment 1)
                                          Article 3(1)
 1. Ihosc Member States which decide to          1. Member States shall bring into force
exercise the option provided for in this        the laws, regulations and administrative
Directive shall bring into force the laws,      provisions necessary for them to comply
regulations and administrative provisions       with this Directive after its entry into
necessary for them to comply with this          force and no later than 30 June 1996.
Directive after its entry into force. They      They shall forthwith inform the
shall forthwith inform the Commission           Commission thereof,
thereof.
 ---pagebreak---  ---pagebreak---                                                                   ISSN 0254-1475
                                                             COM(96) 27 final
                                              DOCUMENTS
EN                                                                       09 10
                                     Catalogue number : CB-CO-96-026-EN-C
                                                             ISBN 92-77-99726-5
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