natgillin/translations-raw huggingface dataset:
By way of derogation from Article 193 of Directive 2006/112/EC, Poland is authorised to designate the recipient as the person liable to pay VAT in the case of supplies of hard drives such as solid-state drives and hard disk drives.
Odobrenje bi trebalo biti vremenski ograničeno do 31. prosinca 2020.
Article 2
Mjerama koje Poljska poduzima trebalo bi se do isteka odstupanja spriječiti daljnje širenje prijevara u vezi s PDV-om u sektoru tvrdih diskova te stoga Poljskoj više nećebiti potrebno odstupanje od članka 193.
This Decision shall take effect on the date of its notification.
Direktive 2006/112/EZ u odnosu na te isporuke.
This Decision shall apply from 1 January 2018 and shall expire on 31 December 2020.
Poljska stoga ne bi trebala tražiti obnavljanje odstupanja.
Article 3
Odstupanje ne utječe na vlastita sredstva Unije koja proizlaze iz PDV-a,
This Decision is addressed to the Republic of Poland.
DONIJELO JE OVU ODLUKU:
For the Council
Odstupajući od članka 193.
The President
Direktive 2006/112/EZ, Poljskoj se odobrava određenje primatelja kao osobe koja je dužna platiti PDV u slučaju isporuka tvrdih diskova kao što su jedinice za pohranu bez pokretnih dijelova i unutarnji tvrdi diskovi.
OJ L 347, 11.12.2006, p. 1.
Članak 2.
on the recognition of the legal, supervisory and enforcement arrangements of the United States of America for derivatives transactions supervised by the Commodity Futures Trading Commission as equivalent to certain requirements of Article 11 of Regulation (EU) No 648/2012 of the European Parliament and Council on OTC derivatives, central counterparties and trade repositories
o priznavanju istovrijednosti pravnih, nadzornih i izvršnih aranžmana Sjedinjenih Američkih Država za transakcije izvedenicama koje nadzire Komisija za trgovanje robnim ročnicama u odnosu na određene zahtjeve iz članka 11.
(Text with EEA relevance)
Uredbe (EU) br. 648/2012 Europskog parlamenta i Vijeća o OTC izvedenicama, središnjoj drugoj ugovornoj strani i trgovinskom repozitoriju
Having regard to Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories [1], and in particular Article 13(2) thereof,
uzimajući u obzir Ugovor o funkcioniranju Europske unije,
Whereas:
uzimajući u obzir Uredbu (EU) br. 648/2012 Europskog parlamenta i Vijeća od 4. srpnja 2012. o OTC izvedenicama, središnjoj drugoj ugovornoj strani i trgovinskom repozitoriju [1], a posebno njezin članak 13. stavak 2.,
Article 13 of Regulation (EU) No 648/2012 provides for a mechanism intended to establish solutions that ensure consistency between the legal requirements established by the Union and those of third countries in the field covered by that Regulation.
budući da:
Amongst those solutions, the Commission is empowered to adopt decisions declaring that the legal, supervisory and enforcement arrangements of a third country are equivalent to the requirements laid down in Articles 4, 9, 10 and 11 of Regulation (EU) No 648/2012 so that counterparties entering into a transaction within the scope of that Regulation, where at least one of the counterparties is established in that third country, are deemed to have fulfilled those requirements by complying with the requirements set out in that third country's legal regime.
Člankom 13.
That declaration of equivalence allows avoiding the application of duplicative or conflicting rules and therefore contributes to the achievement of the overarching aim of Regulation (EU) No 648/2012 to reduce systemic risk and increase the transparency of derivatives markets by ensuring an internationally consistent application of the principles agreed with the Union's international partners and laid down in that Regulation.
Uredbe (EU) br. 648/2012 predviđa se mehanizam čija je svrha utvrditi rješenja za osiguranje usklađenosti pravnih zahtjeva koje je utvrdila Unija i pravnih zahtjeva trećih zemalja u području obuhvaćenom tom uredbom.
Paragraphs 1, 2 and 3 of Article 11 of Regulation (EU) No 648/2012, as specified by the technical standards adopted pursuant to Article 11(14)(a) and (b) and Article 11(15) of that Regulation, establish the Union's legal requirements concerning the timely confirmation, portfolio compression and reconciliation applicable to OTC derivative contracts not cleared by a CCP, the valuation and dispute resolution obligations applicable to those contracts (‘operational risk mitigation techniques’) as well as the obligations on the exchange of collateral (‘margins’) between counterparties.
Jedno je od tih rješenja Komisijino ovlaštenje da donosi odluke kojima se utvrđuje istovrijednost pravnih, nadzornih i izvršnih aranžmana treće zemlje u odnosu na aranžmane utvrđene člancima 4., 9., 10. i 11.
In order for a third country legal regime to be considered equivalent to the legal regime of the Union in respect of operational risk mitigation techniques and margins requirements, the substantive outcome of the applicable legal, supervisory and enforcement arrangements should be equivalent to Union requirements in respect of the regulatory objectives they achieve.
Uredbe (EU) br. 648/2012, tako što se smatra da su druge ugovorne strane koje sklapaju transakciju u okviru područja primjene te uredbe, pri čemu barem jedna od drugih ugovornih strana ima poslovni nastan u toj trećoj zemlji, ispunile navedene zahtjeve ispunjavanjem zahtjeva utvrđenih pravnim sustavom te treće zemlje.
The purpose of this equivalence assessment is therefore to verify that the legal, supervisory and enforcement arrangements of the United States of America (USA) ensure that OTC derivative contracts not cleared by a CCP and entered into by at least one counterparty established in that third country do not expose financial markets in the Union to a higher level of risk than those markets could be exposed to by that type of derivative contracts entered into by counterparties established in the Union and, consequently, do not pose unacceptable levels of systemic risk in the Union.
Utvrđivanjem istovrijednosti izbjegava se primjena dvostrukih ili proturječnih pravila te time doprinosi ostvarenju općeg cilja Uredbe (EU) br. 648/2012, odnosno smanjenju sistemskog rizika i povećanju transparentnosti tržišta izvedenica osiguranjem međunarodno dosljedne primjene načela dogovorenih s Unijinim međunarodnim partnerima i utvrđenih tom uredbom.
On 1 September 2013, the Commission received the technical advice of the European Markets Supervisory Authority (ESMA) on the legal, supervisory and enforcement arrangements in the USA [2] regarding, among others, the operational risk mitigation techniques applicable to OTC derivative contracts not cleared by a CCP.
Člankom 11. stavcima 1., 2. i 3.
In its technical advice, ESMA found that the legally binding requirements on timely confirmation, portfolio reconciliation and portfolio compression in the USA were equivalent to the legally binding requirements applicable under Regulation (EU) No 648/2012.
Uredbe (EU) br. 648/2012, kako je pobliže određeno tehničkim standardima donesenima na temelju članka 11. stavka 14. točaka (a) i (b) i članka 11. stavka 5. te uredbe, utvrđuju se pravni zahtjevi Unije u pogledu pravovremene potvrde, kompresije i usklađivanja portfelja koji se primjenjuju na ugovore o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje druge ugovorne strane, obveze u pogledu vrednovanja i rješavanja sporova koje se primjenjuju na te ugovore („tehnike smanjenja operativnog rizika”) te obveze u pogledu razmjene kolaterala („iznosi nadoknade”) među drugim ugovornim stranama.
ESMA considered that at the moment of its assessment, however, the USA regime for dispute resolution was not equivalent with that of Article 11(1) of Regulation (EU) No 648/2012.
Kako bi se pravni sustav treće zemlje smatrao istovrijednim pravnom sustavu Unije u pogledu tehnika smanjenja operativnog rizika i zahtjeva u pogledu iznosa nadoknade, ishod primjenjivih pravnih, nadzornih i izvršnih aranžmana trebao bi u bitnome biti istovrijedan zahtjevima Unije u pogledu regulatornih ciljeva koji se njima ostvaruju.
ESMA also observed that the equivalence between regimes for bilateral margins could not be assessed at the time, as the technical standards specifying the rules on bilateral margins in the Union had not yet been developed.
Stoga je svrha procjene istovrijednosti utvrditi osigurava li se pravnim, nadzornim i izvršnim aranžmanima Sjedinjenih Američkih Država (SAD) da se ugovorima o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje druge ugovorne strane i koje sklapa barem jedna druga ugovorna strana s poslovnim nastanom u toj trećoj zemlji financijska tržišta u Uniji ne izlažu razini rizika višoj od one kojoj bi bila izložena da tu vrstu ugovora o izvedenicama sklapaju druge ugovorne strane s poslovnim nastanom u Uniji te da stoga ne predstavljaju neprihvatljive razine sistemskog rizika u Uniji.
The Commission has considered ESMA's advice in carrying out its assessment, together with the regulatory developments that have taken place since then.
Komisija je 1. rujna 2013. primila tehnički savjet od Europskog nadzornog tijela za vrijednosne papire i tržišta kapitala (ESMA) o pravnim, nadzornim i izvršnim aranžmanima u SAD-u [2] u pogledu, među ostalim, tehnika smanjenja operativnog rizika koje se primjenjuju na ugovore o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje druge ugovorne strane.
This Decision is not only based, however, on a comparative analysis of the legal, supervisory and enforcement requirements applicable in the USA, but also on an assessment of the outcome of those requirements, and their adequacy to mitigate the risks arising from those contracts in a manner considered equivalent to the outcome of the requirements laid down in Regulation (EU) No 648/2012.
ESMA je u svojem tehničkom savjetu utvrdila da su pravno obvezujući zahtjevi u pogledu pravovremene potvrde te usklađivanja i kompresije portfelja u SAD-u istovrijedni pravno obvezujućim zahtjevima primjenjivima na temelju Uredbe (EU) br. 648/2012.
The legal, supervisory and enforcement arrangements applicable in the USA for OTC derivative contracts are laid down in title VII of the Dodd Frank Wall Street Reform and Consumer Protection Act (‘Dodd-Frank Act’) and in the specific implementing rules adopted by the Commodity Futures Trading Commission (‘CFTC Regulations’).
Međutim, ESMA je smatrala da u trenutku procjene sustav SAD-a za rješavanje sporova nije bio istovrijedan sustavu iz članka 11. stavka 1.
The Dodd-Frank Act, which entered into force in July 2010, established a new regulatory framework for certain OTC derivatives defined as swaps in section 1a(47) of the Commodity Exchange Act (‘CEA’), aiming at reducing systemic risk, increasing transparency and promoting market integrity within the financial system.
Uredbe (EU) br. 648/2012.
The CFTC has jurisdiction over swaps and most of the operative provisions of title VII of the Dodd-Frank Act became applicable in 2011.
ESMA je napomenula i da se u tom trenutku nije mogla procijeniti istovrijednost režima za bilateralne iznose nadoknade jer još nisu bili izrađeni tehnički standardi kojima se određuju pravila o bilateralnim iznosima nadoknade u Uniji.
The operational risk mitigation techniques for OTC derivative contracts not cleared by a CCP, as added in a new section 4s(i) to the CEA by section 731 of the Dodd-Frank Act, apply to swap dealers and major swap participants, as defined in the CEA.
Komisija je pri provedbi procjene uzela u obzir ESMA-in savjet te regulatorne promjene do kojih je u međuvremenu došlo.
This Decision should therefore cover the legal, supervisory and enforcement arrangements regarding timely confirmation, portfolio compression and reconciliation, valuation and dispute resolution obligations, as well as margin requirements applicable to swap dealers and major swap participants established in the USA that are authorised and supervised in accordance with the CFTC Regulations.
Ova se Odluka, međutim, ne temelji samo na komparativnoj analizi pravnih, nadzornih i izvršnih zahtjeva koji se primjenjuju u SAD-u, nego i na procjeni ishoda tih zahtjeva te njihovoj primjerenosti za smanjenje rizika koji proizlaze iz tih ugovora na način koji se smatra istovrijednim ishodu zahtjeva utvrđenih u Uredbi (EU) br. 648/2012.
This Decision should however not cover USA legal, supervisory and enforcement arrangements applicable to persons that are registered with the Securities and Exchange Commission as a security-based swap dealer or a major security-based swap participant pursuant to the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
Pravni, nadzorni i izvršni aranžmani koji se primjenjuju u SAD-u za ugovore o OTC izvedenicama utvrđeni su u glavi VII.
CFTC Regulations on operational risk mitigation techniques for OTC derivative contracts not cleared by a CCP contain similar obligations to those provided for in paragraphs 1 and 2 of Article 11 of Regulation (EU) No 648/2012.
Dodd-Frankova zakona o reformi Wall Streeta i zaštiti potrošača („Dodd-Frankov zakon”) i u posebnim provedbenim pravilima koja je donijela Komisija za trgovanje robnim ročnicama („propisi CFTC-a”).
In particular, Subpart I of Part 23 of the CFTC Regulations contains specific detailed requirements regarding timely confirmation, portfolio compression, portfolio reconciliation, transaction valuation and dispute resolution applicable to OTC derivative contracts not cleared by a CCP.
Dodd-Frankovim zakonom, koji je stupio na snagu u srpnju 2010., utvrđen je novi regulatorni okvir za određene OTC izvedenice koje se definiraju kao ugovori o razmjeni u odjeljku 1.a točki 47.
In all following respects, the requirements set out in the CFTC Regulations are equivalent to the relevant requirements of Regulation (EU) No 648/2012: (i) the frequency and thresholds for portfolio reconciliation match; (ii) the deadlines for timely confirmation match; (iii) requirements for portfolio compression on a ‘comply or explain’ basis; (iv) requirements for daily valuation of non-cleared transactions.
Zakona o burzama roba („CEA”), čiji je cilj smanjenje sistemskog rizika, povećanje transparentnosti i promicanje cjelovitosti tržišta u okviru financijskog sustava.
Taking into account the limited impact due to the difference in scope of the requirements for agreements on how disputes are resolved, those requirements should also be considered equivalent to the requirements of Regulation (EU) No 648/2012 on dispute resolution.
Za ugovore o razmjeni nadležan je CFTC i većina operativnih odredbi glave VII.
On the basis of the above, in relation to swaps that are under the jurisdiction of the CFTC, as defined in section 1a(47) of the CEA, the CFTC's legal, supervisory and enforcement arrangements applicable to swap dealers and major swap participants should be considered as equivalent to the requirements set out in Regulation (EU) No 648/2012 in respect of the timely confirmation, portfolio compression and reconciliation, valuation and dispute resolution obligations applicable to OTC derivative contracts not cleared by a CCP, as laid down in Article 11(1) and Article 11(2) of that Regulation.
Dodd-Frankova zakona počela se primjenjivati 2011.
Concerning the margins for OTC derivative contracts not cleared by a CCP, the legally binding requirements of the CFTC consist of the Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants published in January 2016 (‘final margin rule’) and the Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants — Cross Border Application of the Margin Requirements (‘cross-border margin rule’) published in August 2016.
Tehnike smanjenja operativnog rizika za ugovore o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje druge ugovorne strane, kako su odjeljkom 731.
While the CFTC Regulations on operational risk mitigation techniques for OTC derivative contracts not cleared by a CCP apply to all swap dealers and major swap participants, the CFTC Regulations on margins for those OTC derivative contracts only apply to swap dealers and major swap participants that are not subject to a prudential regulator.
Dodd-Frankova zakona dodane u novom odjeljku 4.s točki i.
The CEA definition of ‘prudential regulator’ includes the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Farm Credit Administration and the Federal Housing Finance Agency.
CEA-e, primjenjuju se na posrednike u ugovorima o razmjeni (swap dealers) i na važne sudionike u ugovorima o razmjeni (major swap participants), kako su definirani u CEA-i.
CFTC Regulations applicable to margins for OTC derivative contracts not cleared by a CCP only require the exchange of initial margin with a ‘covered counterparty’ as defined in section 23.151 of the CFTC Regulations.
Ova bi Odluka stoga trebala obuhvatiti pravne, nadzorne i izvršne aranžmane koji se odnose na obveze u pogledu pravovremene potvrde, kompresije i usklađivanja portfelja, vrednovanja i rješavanja sporova te zahtjeva za iznos nadoknade koji se primjenjuju na posrednike u ugovorima o razmjeni i važne sudionike u ugovorima o razmjeni s poslovnim nastanom u SAD-u koji imaju odobrenje za rad te se nad njima provodi nadzor u skladu s propisima CFTC-a.
A covered counterparty is a counterparty that is a financial end user with material swaps exposure or a swap entity that enters into a swap with a covered swap entity.
Međutim ova Odluka ne bi trebala obuhvaćati pravne, nadzorne i izvršne aranžmane SAD-a koji se primjenjuju na osobe koje su pri Komisiji za vrijednosne papire i burzu (Securities and Exchange Commission) registrirane kao posrednici u ugovorima o razmjeni na temelju vrijednosnih papira (security-based swap dealer) ili važni sudionici u ugovorima o razmjeni na temelju vrijednosnih papira (major security-based swap participant) u skladu sa Zakonom o burzi vrijednosnih papira iz 1934.
According to section 23.150 of the CFTC Regulations, the material swaps exposure is an average daily notional value of non-cleared OTC derivatives that exceeds USD 8 billion (8000 million), whereas the analogous threshold set out in Article 28 of Commission Delegated Regulation (EU) 2016/2251 [3] is EUR 8 billion (8000 million).
(15 U.S.C. 78a i dalje).
In the Union, the requirement to exchange variation margin does not have a materiality threshold, and applies to all counterparties subject to Article 11(3) of Regulation (EU) No 648/2012.
(8) Propisi CFTC-a o tehnikama smanjenja operativnog rizika za ugovore o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje ugovorne strane sadržavaju obveze slične onima predviđenima člankom 11. stavcima 1. i 2.
The CFTC Regulations for combined minimum transfer amount of initial and variation margin in the final margin rule is USD 500000, whereas the related requirement set out in Article 25 of Delegated Regulation (EU) 2016/2251 is EUR 500000.
Uredbe (EU) br. 648/2012.
Taking into account the limited impact due to the difference in currencies, these amounts should be considered equivalent.
Konkretno, poddio I. dijela 23. propisa CFTC-a sadržava posebne podrobne zahtjeve u pogledu pravovremene potvrde, kompresije portfelja, usklađivanja portfelja, vrednovanja transakcije i rješavanja sporova koji se primjenjuju na ugovore o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje druge ugovorne strane.
The requirements of the final margin rule apply to swaps, which encompass almost all contracts defined as OTC derivatives in Regulation (EU) No 648/2012 with the exception of foreign exchange forwards and foreign exchange swaps, for which the final margin rule sets no requirements.
U svim sljedećim pogledima zahtjevi utvrđeni u propisima CFTC-a istovrijedni su relevantnim zahtjevima iz Uredbe (EU) br. 648/2012: i. učestalost i pragovi za usklađivanje portfelja; ii. rokovi za pravovremenu potvrdu; iii. zahtjevi za kompresiju portfelja na temelju načela „poštuj ili objasni”; iv. zahtjevi za dnevno vrednovanje neporavnanih transakcija.
In addition, CFTC Regulations do not contain any specific treatment for structured products including covered bonds and securitisations.
Uzimajući u obzir ograničeni učinak razlike u području primjene zahtjeva za dogovore o rješavanju sporova ti bi se zahtjevi također trebali smatrati istovrijednima zahtjevima iz Uredbe (EU) br. 648/2012 u pogledu rješavanja sporova.
In the Union, foreign exchange swaps and foreign exchange forwards are exempted from the initial margins requirements, and derivatives associated with covered bonds for hedging purposes may also be exempted from initial margin requirements.
Na temelju navedenoga, u pogledu ugovora o razmjeni koji su pod nadležnošću CFTC-a, kako su definirani u odjeljku 1.a točki 47.
This Decision should therefore only apply to OTC derivatives that are subject to margins under both the Union law and the CFTC Regulations.
CEA-e, pravni, nadzorni i izvršni aranžmani CFTC-a koji se primjenjuju na posrednike u ugovorima o razmjeni i na važne sudionike u ugovorima o razmjeni trebali bi se smatrati istovrijednima zahtjevima iz Uredbe (EU) br. 648/2012 u pogledu obveza povezanih s pravovremenom potvrdom, kompresijom i usklađivanjem portfelja, vrednovanjem i rješavanjem sporova koje se primjenjuju na ugovore o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje druge ugovorne strane, kako su utvrđene u članku 11. stavcima 1. i 2. te uredbe.
The requirements in the CFTC Regulations for the calculation of initial margin are equivalent to the requirements set out in Regulation (EU) No 648/2012.
U pogledu iznosa nadoknade za ugovore o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje druge ugovorne strane pravno obvezujući zahtjevi CFTC-a utvrđeni su u dokumentu „Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants” (Zahtjevi za iznos nadoknade za neporavnane ugovore o razmjeni za posrednike u ugovorima o razmjeni i važne sudionike u ugovorima o razmjeni) objavljenom u siječnju 2016.
Like Annex IV to Delegated Regulation (EU) 2016/2251, the CFTC Regulations allow the use of a standardised model.
(„konačno pravilo o iznosu nadoknade”) i dokumentu „Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants – Cross Border Application of the Margin Requirements” (Zahtjevi za iznos nadoknade za neporavnane ugovore o razmjeni za posrednike u ugovorima o razmjeni i važne sudionike u ugovorima o razmjeni – prekogranična primjena zahtjeva za iznos nadoknade) („prekogranično pravilo o iznosu nadoknade”) objavljenom u kolovozu 2016.
Alternatively, internal or third party models may be used for that calculation where those models contain certain specific parameters, including minimum confidence intervals and margin periods of risk, and certain historical data, including stressed periods.
Dok se propisi CFTC-a o tehnikama smanjenja operativnog rizika za ugovore o OTC izvedenicama čije se poravnanje ne obavlja posredstvom središnje druge ugovorne strane primjenjuju na sve posrednike u ugovorima o razmjeni i važne sudionike u ugovorima o razmjeni, propisi CFTC-a o iznosima nadoknade za te ugovore o OTC izvedenicama primjenjuju se samo na posrednike u ugovorima o razmjeni i važne sudionike u ugovorima o razmjeni koji nisu pod nadzorom regulatornog tijela za bonitetni nadzor.
Those models must be approved by the CFTC or a registered futures association.
Definicija „regulatornog tijela za bonitetni nadzor” iz CEA-e uključuje Upravni odbor Sustava saveznih rezervi (Board of Governors of the Federal Reserve System), Ured deviznog revizora (Office of the Comptroller of the Currency), Saveznu korporaciju za osiguranje depozita (Federal Deposit Insurance Corporation), Upravu za poljoprivredne kredite (Farm Credit Administration) i Saveznu agenciju za stambeno financiranje (Federal Housing Finance Agency).