Committee Reports::Report No. 09 - Proposal for a Second Banking Directive::26 January, 1989::Appendix


Article 20

1.Technical amendments to this Directive in the following areas:

-extension-of the activities on the list mentioned in Article 16 and set out in the Annex;

-the amount of initial capital laid down in Article 3(1);

-the List of categories of institution referred to in Article 3(2);

-the thresholds set in Article 10;

-the fields in which the competent authorities must exchange information, as enumerated in Article 7(1) of Directive 77/780/EEC,

shall be made according to the procedure set out in paragraph 2.

2.The Commission shall be assisted by a committee composed of representatives of the Member States and chaired by a representative of the Commission.

The representative of the Commission shall submit to the committee a draft of the measures to be taken. The committee shall deliver its opinion on the draft within a time limit which the chairman may lay down according to the urgency of the matter. The opinion shall be delivered by the majority laid down in Article 148(2) of the Treaty in the case of decisions which the Council is required to adopt on a proposal from the Commission. The votes of the representatives of the Member States in the committee shall be weighted in the manner set out in that Article. The chairman shall not vote.

The Commission shall adopt the measures envisaged if they are in accordance with the opinion of the committee.

If the measures envisaged are not in accordance with the opinion of the committee, or if no opinion is delivered, the Commission shall, without delay, submit to the Council a proposal relating to the measures to be taken. The Council shall act by a qualified majority.

If, on the expiry of a period to be laid down in each act to be adopted by the Council under this paragraph but which may in no case exceed three months from the day of referral to the Council, the Council has not acted, the proposed measures shall be adopted by the Commission.