(Consultation procedure)

The European Parliament,

–   having regard to the Commission proposal to the Council (COM(2002) 719)(1),

–   having regard to Article 202 of the EC Treaty, pursuant to which the Council consulted Parliament (C5&nbhy;0002/2003),

–   having regard to Rule 67 of its Rules of Procedure,

–   having regard to the report of the Committee on Constitutional Affairs and the opinion of the Committee on Economic and Monetary Affairs (A5&nbhy;0128/2003),

–   having regard to the second report of the Committee on Constitutional Affairs (A5&nbhy;0266/2003),

1.  Approves the Commission proposal as amended;

2.  Calls on the Commission to refer the matter to Parliament again if it intends to amend the proposal substantially or replace it with another text;

3.  Instructs its President to forward its position to the Council and Commission.

Text proposed by the Commission   Amendments by Parliament Amendment 1 RECITAL 2 (2)  Current developments in Community legislation show that it is increasingly common for legislative instruments to require additional measures to be adopted, whose technical principles and details must be established on the basis of sound analysis and expert opinion within suitable periods of time. Whenever this prompts the legislature to delegate wider powers to the Commission, it must have a say in the measures which the Commission plans to adopt. (2)  Current developments in Community legislation show that it is increasingly common for legislative instruments to require additional measures to be adopted, whose technical principles and details must be established on the basis of sound analysis and expert opinion within suitable periods of time. Whenever this prompts the legislature to delegate wider powers to the Commission, it must have all information about the measures which the Commission plans to adopt, as provided for in the Agreement1 between the European Parliament and the Commission on procedures for implementing Decision 1999/468/EC, and a right to have a say. __________________ 1 OJ L 256, 10.10.2000, p. 19. Amendment 2 RECITAL 6 (6)  In these cases, the regulatory procedure must allow the Commission to assume full responsibility for adopting executive measures, after having solicited the opinion of the Committee of Representatives of the Member States, whilst enabling the European Parliament and the Council to oversee the executive role. This means that, in the event of a disagreement between the Commission and the legislature, the Commission must be able, depending on the case, to either present a proposal under Article 251 of the Treaty or adopt its draft of initial measures, possibly with amendments. (6)  In these cases, the regulatory procedure must allow the Commission to assume full responsibility for adopting executive measures, after having solicited the opinion of the Committee of Representatives of the Member States, whilst enabling the European Parliament and the Council to oversee the executive role. This means that, in the event of a disagreement between the Commission and the legislature, the Commission must be able, depending on the case and taking account of the positions of the European Parliament and the Council, to either present a proposal for an instrument in accordance with the procedure laid down in Article 251 of the Treaty, or adopt the proposed draft of measures accompanied by an appropriate statement, or modify it, or withdraw its draft altogether. Amendment 3 RECITAL 9a (new) (9a) The application of this decision shall be without prejudice to any of the undertakings made by the Commission in the field of securities legislation, in particular the solemn declaration made before Parliament on 5 February 2002 by the Commission, and the letter of 2 October 2001 addressed by the Internal Market Commissioner to the chairman of the European Parliament's Committee on Economic and Monetary Affairs. Amendment 4 ARTICLE 1, POINT 2 Article 4, paragraph 3 (Decision 1999/468/EC) 2.  In Article 4(3) the words "without prejudice to Article 8" are deleted. 2.  In Article 4(3) and in Article 5(3) the words "without prejudice to Article 8" are deleted. Amendment 5 ARTICLE 1, POINT 3A (NEW) Article 5, paragraph 6, subparagraph 1 (Decision 1999/468/EC) 3a. Article 5(6), subparagraph 1 is replaced by the following: "(6) The Council may act by qualified majority on the proposal, within a period to be laid down in each basic instrument but which shall in no case exceed three months from the date of referral to the Council." Amendment 6 ARTICLE 1, POINT 4 Article 5a, paragraph 5 (Decision 1999/468/EC) 5.  If the European Parliament, by an absolute majority of its members, or the Council, by the majority provided for by Article 205(2) of the Treaty, express any objections to the final draft of the executive measures presented by the Commission within one month, which may be extended by another month, of its being forwarded, the Commission must either withdraw its draft and present a proposal for an instrument in accordance with the procedure in Article 251 of the EC Treaty, or adopt the proposed measure, possibly amending its draft to take account of the objections. 5.  If the European Parliament, by an absolute majority of its members, or the Council, by the majority provided for by Article 205(2) of the Treaty, express any objections to the final draft of the executive measures presented by the Commission within a period of one month, which may be extended by another month, of its being forwarded, taking account of the positions of the European Parliament and the Council, the Commission must either present a proposal for an instrument in accordance with the procedure in Article 251 of the Treaty, or adopt the proposed draft of measures accompanied by an appropriate statement, or modify it, or withdraw its draft altogether. Amendment 7 ARTICLE 1, POINT 4 Article 5a, paragraph 6 (Decision 1999/468/EC) 6.  If, on imperative grounds of urgency, the time limits for the regulatory procedure cannot be abided by, the Commission may adopt the executive measures after having obtained the opinion of the regulatory committee in accordance with paragraph 2. It shall notify the European Parliament, the Council and the Member States of these without delay. Within one month of notification, the European Parliament, by an absolute majority of its members, or the Council, by the majority provided for by Article 205(2), may raise objections. In this case, the Commission may either withdraw the adopted measure and present a proposal for an instrument in accordance with the procedure under Article 251 of the Treaty or uphold the measure, possibly with amendments to take account of the objections expressed. 6.  If, on imperative grounds of urgency, the time limits for the regulatory procedure cannot be abided by, the Commission may adopt the executive measures after having obtained the opinion of the regulatory committee in accordance with paragraph 2. It shall notify the European Parliament, the Council and the Member States of these without delay. Within a period of one month of notification, which may be extended by another month if the Council or the European Parliament so request, the European Parliament, by an absolute majority of its members, or the Council, by the majority provided for by Article 205(2), may raise objections. In this case, taking account of the positions of the European Parliament and the Council, the Commission must either present a proposal for an instrument in accordance with the procedure in Article 251 of the Treaty while provisionally maintaining or withdrawing the adopted measures, or uphold the measures accompanied by an appropriate statement, or modify them, or withdraw them altogether. Amendment 8 ARTICLE 1, POINT 4A (NEW) Article 6, point (a) (Decision 1999/468/EC) 4a. Article 6(a) is amended as follows: "(a) the Commission shall notify the European Parliament, the Council and the Member States of any decision regarding safeguard measures. It may be stipulated that before adopting its decision, the Commission shall consult the Member States in accordance with procedures to be determined in each case;" Amendment 9 ARTICLE 1, POINT 5, POINT C Article 7, paragraph 5 (Decision 1999/468/EC) 5.   The references of all documents sent to the European Parliament pursuant to paragraph 3 shall be made public in a register to be set up to this end by the Commission. 5.  All documents sent to the European Parliament pursuant to paragraph 3 shall be listed in a register to be set up to this end by the Commission in 2003, which shall be available on the Internet.

(1) Not yet published in OJ.