JUDGMENT OF THE COURT

of 14 June 2018

in Case E-14/17

EFTA Surveillance Authority v Iceland

(Failure by an EFTA State to fulfil its obligations — Failure to implement — Regulation (EU) No 447/2013)

(2018/C 414/11)

In Case E-14/17, EFTA Surveillance Authority v Iceland – APPLICATION for a declaration that Iceland has failed to fulfil its obligations under Article 7 of the Agreement on the European Economic Area by failing to make the Act referred to at point 31bbb of Annex IX to that Agreement (Commission Implementing Regulation (EU) No 447/2013 of 15 May 2013 establishing the procedure for AIFMs which choose to opt in under Directive 2011/61/EU of the European Parliament and of the Council), as adapted by Protocol 1 to the Agreement, part of its internal legal order, the Court, composed of Páll Hreinsson, President, Per Christiansen and Bernd Hammermann (Judge-Rapporteur), Judges, gave judgment on 14 June 2018, the operative part of which is as follows:

The Court hereby:

1.

Declares that Iceland has failed to fulfil its obligations under Article 7 of the Agreement on the European Economic Area by failing to make the Act referred to at point 31bbb of Annex IX to that Agreement (Commission Implementing Regulation (EU) No 447/2013 of 15 May 2013 establishing the procedure for AIFMs which choose to opt in under Directive 2011/61/EU of the European Parliament and of the Council), as adapted to the Agreement under its Protocol 1, part of its internal legal order.

2.	Orders Iceland to bear the costs of the proceedings.