51999AP0156(01)

Proposal for a European Parliament and Council Directive amending Directive 77/780/EEC on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (COM(98)0461 - C4-0532/98 - 98/0253(COD))

The proposal was approved with the following amendments:

(Amendment 24)

Recital 4a (new)

>Original text>

>Text following EP vote>

Whereas it is necessary for electronic money to be redeemable to ensure bearer confidence;

(Amendment 25)

Article 1a (new)

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>Text following EP vote>

Article 1a

Article 2a of European Parliament and Council Directive 99/.../EC on the taking up, the pursuit and the prudential supervision of the business of electronic money institutions shall apply to credit institutions.

Legislative resolution embodying Parliament's opinion on the proposal for a European Parliament and Council Directive amending Directive 77/780/EEC on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (COM(98)0461 - C4-0532/98 - 98/0253(COD)) (Codecision procedure: first reading)

The European Parliament,

- having regard to the Commission proposal to Parliament and the Council, COM(98)0461 - 98/0253(COD) ((OJ C 317, 15.10.1998, p. 12.)),

- having regard to Article 189b(2) and 57(2) of the EC Treaty, pursuant to which the Commission submitted the proposal to Parliament (C4-0532/98),

- having regard to Rule 58 of its Rules of Procedure,

- having regard to the report of the Committee on Legal Affairs and Citizens' Rights and the opinion of the Committee on Economic and Monetary Affairs and Industrial Policy (A4-0156/99),

1. Approves the Commission proposal, subject to Parliament's amendments;

2. Calls on the Commission to alter its proposal accordingly, pursuant to Article 189a(2) of the EC Treaty;

3. Calls on the Council to incorporate Parliament's amendments in the common position that it adopts in accordance with Article 189b(2) of the EC Treaty;

4. Points out that the Commission is required to submit to Parliament any modification it may intend to make to its proposal as amended by Parliament;

5. Instructs its President to forward this opinion to the Council and Commission.