CELEX: 51988PC0664
Language: en
Date: 1988-11-16
Title: REEXAMINED PROPOSAL FOR A COUNCIL DIRECTIVE ON THE OBLIGATIONS OF BRANCHES ESTABLISHED IN A MEMBER STATE BY CREDIT INSTITUTIONS AND FINANCIAL INSTITUTIONS HAVING THEIR HEAD OFFICES OUTSIDE THAT MEMBER STATE REGARDING THE PUBLICATION OF ANNUAL ACCOUNTING DOCUMENTS

N o C 321/8                                Official Journal of the European Communities                                             14. 12. 88
              Re-examined proposal for a Council Directive on the obligations of branches established
              Member State by credit institutions and financial institutions having their head offices outside
                     that Member State regarding the publication of annual accounting documents (')
                                                       COM(88) 664 final — SYN 62
              (Submitted by the Commission pursuant to Article 149 (2) (d) of the EEC Treaty on 24 November
                                                                             1988)
                                                                    (88/C 321/12)
              (') OJ No C 143, 1. 6. 1988, p. 9.
              COMMON POSITION OF THE COUNCIL                                                 REEXAMINED PROPOSAL OF THE COMMISSION
                                                          First r e c i t a l u n c h a n g e d
                                                                 Second recital
Whereas, as a part of a further instrument of coordi-                              Whereas, as a part of a further instrument of coordi-
nation of the disclosure requirements in respect of                                nation of the disclosure requirements in respect of
branches, provision is made for certain documents and                              branches, provision is made for certain documents and
particulars relating to branches established in a Member                           particulars relating to branches established in a Member
State which certain types of companies, governed by the                            State which certain types of companies, including banks
law of another Member State have to publish; whereas,                              and other financial institutions, governed by the law of
as regards disclosure of accounting documents, reference                           another Member State have to publish; (remainder
is made to specific provisions to be laid down for banks                           unchanged)
and other financial institutions;
                          R e m a i n i n g r e c i t a l s , A r t i c l e s 1, 2, 3 , 4, 5 and 6 u n c h a n g e d
                                                                          Article 7
Five years after the date referred to in Article 6 (2), the                        Five years after the date referred to in Article 6 (2), the
Council, acting on a proposal from the Commission,                                 Council, acting on a proposal from the Commission and
shall examine and, if need be, revise Article 2 (4), in the                        in cooperation with the European Parliament, shall
light of the experience acquired in applying this Directive                        examine (remainder unchanged)
and of the aim of eliminating the additional information
referred to in Article 2 (4), taking account of the
progress made in striving towards the harmonization of
the accounts of banks and other financial institutions.