OPINION OF THE EUROPEAN CENTRAL BANK

of 15 February 2007

at the request of the Council of the European Union on eight proposals amending Directives 2006/49/EC, 2006/48/EC, 2005/60/EC, 2004/109/EC, 2004/39/EC, 2003/71/EC, 2003/6/EC and 2002/87/EC, as regards the implementing powers conferred on the Commission

(CON/2007/4)

(2007/C 39/01)

Introduction and legal basis

On 29 and 31 January 2007 the European Central Bank (ECB) received requests from the Council of the European Union for an opinion on eight proposals for directives (1) in the financial field (hereinafter ‘the proposals’) whose main objectives are to amend the comitology provisions of eight existing directives to incorporate provisions on a new comitology procedure (the ‘regulatory procedure with scrutiny’), following the adoption of Council Decision 2006/512/EC of 17 July 2006 amending Decision 1999/468/EC laying down the procedures for the exercise of implementing powers conferred on the Commission (2), and to repeal the provisions of the eight existing directives that provide for a time limit for the delegation of implementing powers to the Commission (the so-called ‘sunset clauses’). The ECB's competence to deliver an opinion is based on Article 105(4) of the Treaty establishing the European Community. In accordance with the first sentence of Article 17(5) of the Rules of Procedure of the European Central Bank, the Governing Council has adopted this opinion.

1.   Observations

(1)  (1) Proposal for a Directive of the European Parliament and of the Council amending Directive 2006/49/EC on the capital adequacy of investment firms and credit institutions, as regards the implementing powers conferred on the Commission (COM(2006) 90l final); (2) Proposal for a Directive of the European Parliament and of the Council amending Directive 2006/48/EC relating to the taking up and pursuit of the business of credit institutions, as regards the implementing powers conferred to the Commission (COM(2006) 902 final); (3) Proposal for a Directive of the European Parliament and of the Council amending Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, as regards the implementing powers conferred on the Commission (COM(2006) 906 final); (4) Proposal for a Directive of the European Parliament and of the Council amending Directive 2004/109/EC relating to the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market as regards the implementing powers conferred on the Commission (COM(2006) 909 final); (5) Proposal for a Directive of the European Parliament and of the Council amending Directive 2004/39/EC relating to markets in financial instruments as regards the implementing powers conferred on the Commission (COM(2006) 910 final); (6) Proposal for a Directive of the European Parliament and of the Council amending Directive 2003/71/EC relating to the prospectus to be published when securities are offered to the public or admitted to trading, as regards the implementing powers conferred on the Commission (COM(2006) 911 final); (7) Proposal for a Directive of the European Parliament and of the Council amending Directive 2003/6/EC on insider dealing and market manipulation (market abuse), as regards the implementing powers conferred on the Commission (COM(2006) 913 final); (8) Proposal for a Directive of the European Parliament and of the Council amending Directive 2002/87/EC relating to the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate as regards the implementing powers conferred on the Commission (COM(2006) 916 final).

(2)  OJ L 200, 22.7.2006, p. 11.

(3)  Statement by the European Parliament, the Council and the Commission concerning the Council Decision of 17 July 2006 amending Decision 1999/468/EC laying down the procedures for the exercise of implementing powers conferred on the Commission (2006/512/EC), (OJ C 255, 21.10.2006, p. 1).

(4)  ECB Opinion CON/2006/57 of 12 December 2006 on a draft Commission Directive implementing Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards the clarification of certain definitions.

(5)  Under the Lamfalussy framework the implementing acts are referred as ‘Level 2 acts’.

(6)  The lack of consultation between Community institutions has been the subject of several judgments by the Court of Justice. On the obligation to consult the European Parliament, see Case 138/79 Roquette Frères [1980] ECR 3333 and Case C-21/94 Parliament v Council [1995] ECR I-1827, paragraph 17. On the obligation of the High Authority to consult the Council and the Consultative Committee under the ECSC Treaty, see Case 1/54 France v High Authority [1954-56] ECR 1, at p 15 and Case 2/54 Italy v High Authority [1954-56] ECR 37, at p 52, which was confirmed by Case 6/54 Netherlands v High Authority [1954-56] ECR 103, at p 112. As far as Article 105(4) of the Treaty is concerned, in Case C-11/00 Commission v European Central Bank [2003] ECR I-7147, Advocate General Jacobs emphasised that: ‘Consultation of the ECB on proposed measures in its field of competence is a procedural step, required by a provision of the Treaty, which is clearly capable of affecting the content of the measures adopted. Failure to comply with such requirement must, in my view, be capable of leading to the annulment of the measures adopted’, Opinion of Advocate General Jacobs given on 3 October 2002, paragraph 131.

Non-opposition to a notified concentration

(Case COMP/M.4445 — voestalpine/Stamptec)

(Text with EEA relevance)

(2007/C 39/02)

On 6 February 2007, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

Non-opposition to a notified concentration

(Case COMP/M.4431 — BG Group/Serene)

(Text with EEA relevance)

(2007/C 39/03)

On 1 February 2007, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

Non-opposition to a notified concentration

(Case COMP/M.4510 — L Capital 2/Calligaris)

(Text with EEA relevance)

(2007/C 39/04)

On 12 February 2007, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

Non-opposition to a notified concentration

(Case COMP/M.4319 — Mondi/Schleipen & Erkens)

(Text with EEA relevance)

(2007/C 39/05)

On 24 October 2006, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

Non-opposition to a notified concentration

(Case COMP/M.4314 — Johnson & Johnson/Pfizer Consumer Healthcare)

(Text with EEA relevance)

(2007/C 39/06)

On 11 December 2006, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(2) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

Non-opposition to a notified concentration

(Case COMP/M.4526 — PAI/Lafarge)

(Text with EEA relevance)

(2007/C 39/07)

On 15 February 2007, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

Euro exchange rates (1)

22 February 2007

(2007/C 39/08)

1 euro=

(1)  

Source: reference exchange rate published by the ECB.

Summary of Community decisions on marketing authorizations in respect of medicinal products from 1 January 2007 to 31 January 2007

(Published pursuant to Article 13 or Article 38 of Regulation (EC) No 726/2004 of the European Parliament and of the Council (1) )

(2007/C 39/09)

—   Issuing of a marketing authorization (Article 13 of Regulation (EC) No 726/2004 of the European Parliament and of the Council): Accepted

—   Issuing of a marketing authorization (Article 13 of Regulation (EC) No 726/2004 of the European Parliament and of the Council): Rejected

—   Modification of a marketing authorization (Article 13 of Regulation (EC) No 726/2004 of the European Parliament and of the Council): Accepted

—   Issuing of a marketing authorization (Article 38 of Regulation (EC) No 726/2004 of the European Parliament and of the Council): Accepted

—   Modification of a marketing authorization (Article 38 of Regulation (EC) No 726/2004 of the European Parliament and of the Council): Accepted

Anyone wishing to consult the public assessment report on the medicinal products in question and the decisions relating thereto is invited to contact:

(1)  OJ L 136, 30.4.2004, p. 1.

Summary of Community decisions on marketing authorizations in respect of medicinal products from 1 January 2007 to 31 January 2007

(Decisions taken pursuant to Article 34 of Directive 2001/83/EC (1) or Article 38 of Directive 2001/82/EC (2))

(2007/C 39/10)

—   Issuing, maintenance or modification of a national marketing authorisation

(1)  OJ L 311, 28.11.2001, p. 67.

(2)  OJ L 311, 28.11.2001, p. 1.

Publication of decisions by Member States to grant or revoke operating licenses pursuant to Article 13(4) of Council Regulation (EEC) No 2407/92 on licensing of air carriers (1)  (2)

(Text with EEA relevance)

(2007/C 39/11)

GERMANY

Operating licences granted

Category B:   Operating licences including the restriction of Article 5(7)(a) of Regulation (EEC) No 2407/92

Operating licences revoked

Category A:   Operating licences without the restriction of Article 5(7)(a) of Regulation (EEC) No 2407/92

Category B:   Operating licences including the restriction of Article 5(7)(a) of Regulation (EEC) No 2407/92

(1)  OJ L 240, 24.8.1992, p.1.

(2)  Communicated to the European Commission before 31.8.2005.

Notice of initiation of a partial interim review of the antidumping measures applicable to imports of grain oriented flat-rolled products of silicon-electrical steel (GOES) originating in Russia

(2007/C 39/12)

The Commission has decided on its own initiative to initiate a partial interim review pursuant to Article 11(3) of Council Regulation (EC) No 384/96 on protection against dumped imports from countries not members of the European Community (‘the basic Regulation’) (1). The review is limited to the examination of the level of dumping for two Russian exporting producers, Novolipetsk Iron & Steel Corporation (NLMK) and Viz Stal.

1.   Product

The product under review is grain oriented flat-rolled products of silicon-electrical steel originating in Russia (‘the product concerned’), currently classifiable within CN codes 7225 11 00 and 7226 11 00. These CN codes are given only for information.

2.   Existing measures

The measures currently in force are a definitive anti-dumping duty imposed by Council Regulation (EC) No 1371/2005 (2) on imports of grain oriented flat-rolled products of silicon-electrical steel originating in Russia. By Decision No 2005/622/EC of 5 August 2005 (3), the Commission accepted an undertaking offered by Novolipetsk Iron & Steel Corporation. As a result, imports of the product concerned from this company are not subject to the definitive anti-dumping duty in accordance with Article 2 of Regulation (EC) No 1371/2005.

3.   Grounds for the review

The Commission has been notified that NLMK has acquired 100 % of Viz Stal. In addition, evidence has been provided regarding production, sales and distribution of the product concerned under the new corporate structure. In view of this evidence, the circumstances on the basis of which measures were established appear to have changed in a lasting way.

The evidence at hand also shows that the dumping margin under the new corporate structure would change significantly as compared to the level of the current measures.

On the basis of the foregoing, it appears that the individual duties in force for NLMK (although duties are currently not collected for imports from this company for the reason set out in point 2 above) and Viz Stal are no longer appropriate, and that a review should be initiated ex officio in order to calculate one single measure for the new joint company.

4.   Procedure for the determination of dumping

(a)   General

Having determined, after consulting the Advisory Committee, that sufficient evidence exists to justify the initiation of a partial interim review, the Commission hereby initiates a review in accordance with Article 11 (3) of the basic Regulation.

The investigation will assess the need for the continuation, removal or amendment of the existing measures in respect of NLMK and Viz Stal under the new corporate structure. This assessment will be made on the basis of data collected during the investigation that lead to the imposition of the existing measures.

If it is determined that measures should be removed or amended for the companies concerned by this review under the new corporate structure, it may be necessary to amend the rate of duty currently applicable to imports from other exporting producers of the product concerned as set out in Article 1(2) of Council Regulation (EC) No 1371/2005.

(b)   Collection of information and holding of hearings

All interested parties are hereby invited to make their views known, submit information and to provide supporting evidence. This information and supporting evidence must reach the Commission within the time limit set in point 6(a).

Furthermore, the Commission may hear interested parties, provided that they make a request showing that there are particular reasons why they should be heard. This request must be made within the time limit set in point 6(b).

5.   Time limits

(a)   For parties to make themselves known and to submit any other information

All interested parties, if their representations are to be taken into account during the investigation, must make themselves known by contacting the Commission, present their views and submit any other information within 40 days of the date of publication of this notice in the Official Journal of the European Union, unless otherwise specified. Attention is drawn to the fact that the exercise of most procedural rights set out in the basic Regulation depends on the party's making itself known within the aforementioned period.

(b)   Hearings

All interested parties may also apply to be heard by the Commission within the same 40-day time limit.

6.   Written submissions and correspondence

All submissions and requests made by interested parties must be made in writing (not in electronic format, unless otherwise specified) and must indicate the name, address, e-mail address, telephone and fax numbers of the interested party. All written submissions, including the information requested in this notice and correspondence provided by interested parties on a confidential basis shall be labelled as ‘Limited  (4)’ and, in accordance with Article 19(2) of the basic Regulation, shall be accompanied by a non-confidential version, which will be labelled ‘FOR INSPECTION BY INTERESTED PARTIES’.

Commission address for correspondence:

7.   Non-co-operation

In cases in which any interested party refuses access to or does not provide the necessary information within the time limits, or significantly impedes the investigation, findings, affirmative or negative, may be made in accordance with Article 18 of the basic Regulation, on the basis of the facts available.

Where it is found that any interested party has supplied false or misleading information, the information shall be disregarded and use may be made, in accordance with Article 18 of the basic Regulation, of the facts available. If an interested party does not cooperate or cooperates only partially, and use of facts available is made, the result may be less favourable to that party than if it had cooperated.

8.   Schedule of the investigation

The investigation will be concluded, according to Article 6(9) of the basic Regulation within 15 months of the date of the publication of this notice in the Official Journal of the European Union.

(1)  OJ L 56, 6.3.1996, p. 1. Regulation as last amended by Regulation (EC) No 2117/2005 (OJ L 340, 23.12.2005, p. 17.).

(2)  OJ L 223, 27.8.2005, p. 1.

(3)  OJ L 223, 27.8.2005, p. 42.

(4)  This means that the document is for internal use only. It is protected pursuant to Article 4 of Regulation (EC) No 1049/2001 of the European Parliament and of the Council regarding public access to European Parliament, Council and Commission documents (OJ L 145, 31.5.2001, p. 43). It is a confidential document pursuant to Article 19 of the basic Regulation and Article 6 of the WTO Agreement on Implementation of Article VI of the GATT 1994 (Anti-dumping Agreement).

Prior notification of a concentration

(Case COMP/M.4469 — Scholz/voestalpine/Scholz Austria)

(Text with EEA relevance)

(2007/C 39/13)

(1)  OJ L 24, 29.1.2004, p. 1.

Prior notification of a concentration

(Case COMP/M.4522 — Carrefour/Ahold Polska)

(Text with EEA relevance)

(2007/C 39/14)

(1)  OJ L 24, 29.1.2004, p. 1.

NOTICE

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