CELEX: E2013J0012
Language: en
Date: 2014-02-11 00:00:00
Title: Judgment of the Court of 11 February 2014 in Case E-12/13 — EFTA Surveillance Authority v Iceland (Failure by a Contracting Party to fulfil its obligations — Directive 2009/111/EC — Failure to implement — Failure to notify)

12.2.2015   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 49/14
            
         JUDGMENT OF THE COURT
   of 11 February 2014
   in Case E-12/13
   EFTA Surveillance Authority v Iceland
   (Failure by a Contracting Party to fulfil its obligations — Directive 2009/111/EC — Failure to implement — Failure to notify)
   (2015/C 49/07)
   In Case E-12/13, EFTA Surveillance Authority v Iceland – APPLICATION for a declaration that by failing to implement correctly Article 1 paragraphs 15 to 18, 19(a), 21, 22(a), 23 to 29, 36, 37, 39 to 42 and Article 2(5) and (6) of the Act referred to at points 14, 16e and 31 of Annex IX to the Agreement on the European Economic Area (Directive 2009/111/EC of the European Parliament and of the Council of 16 September 2009 as regards banks affiliated to central institutions, certain own funds items, large exposures, supervisory arrangements and crisis management), as adapted to the EEA Agreement by Protocol 1 thereto, and by failing to notify the Authority of the text of such measures, Iceland has failed to fulfil its obligations arising under that Act and under Article 7 of the EEA Agreement, the Court, composed of Carl Baudenbacher, President and Judge-Rapporteur, Per Christiansen and Páll Hreinsson, Judges, gave judgment on 11 February 2014, the operative part of which is as follows:
   The Court hereby:
   
               1.
            
            
               Declares that by failing to implement correctly Article 1 paragraphs 15 to 18, 19(a), 21, 22(a), 23 to 28, 36, 37, 39 to 42 and Article 2 paragraphs 5 and 6 of the Act referred to at points 14, 16e and 31 of Annex IX to the Agreement on the European Economic Area (Directive 2009/111/EC of the European Parliament and of the Council of 16 September 2009 as regards banks affiliated to central institutions, certain own funds items, large exposures, supervisory arrangements and crisis management), as adapted to the EEA Agreement by way of Protocol 1 thereto, within the time prescribed, and by failing to inform the Authority of the text of such measures, Iceland has failed to fulfil its obligations under the Act and under Article 7 of the EEA Agreement.
            
         
               2.
            
            
               Orders Iceland to bear the costs of the proceedings.