CELEX: 62006CJ0218
Language: en
Date: 2006-12-14 00:00:00
Title: Judgment of the Court (Eighth Chamber) of 14 December 2006. # Commission of the European Communities v Grand Duchy of Luxemburg. # Failure of a Member State to fulfil obligations - Directive 2002/87/EC - Supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate - Failure to implement within the prescribed period. # Case C-218/06.

Judgment of the Court (Eighth Chamber) of 14 December 2006 – Commission v Luxembourg
      (Case C‑218/06)
      Failure of a Member State to fulfil obligations – Directive 2002/87/EC – Supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate
         – Failure to implement within the prescribed period
      
      Actions for failure to fulfil obligations – Examination of merits by the Court – Situation to be taken into consideration – Situation on expiry of the period laid down in the reasoned opinion (Art. 226 EC (see para. 6)
      Re:
      
         
               Failure of a Member State to fulfil obligations – Failure to adopt, within the prescribed period, provisions necessary to
                  comply with Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision
                  of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives
                  73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European
                  Parliament and of the Council (OJ 2003 L 35, p. 1).
               
            Operative part
      The Court:
      
         
                  1.
               
               
                  
               
               
                  By failing to adopt within the prescribed period, the laws, regulations and administrative provisions necessary to comply
                     with Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision
                     of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives
                     73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European
                     Parliament and of the Council, the Grand-Duchy of Luxembourg has failed to fulfil its obligations under that directive;
                  
               
            
         
                  2.
               
               
                  
               
               
                  The Grand-Duchy of Luxembourg is ordered to pay the costs.