Article 4Amendments to Directive 2003/41/EC
Directive 2003/41/EC is hereby amended as follows:
- (1)
Article 9 is amended as follows:
- (a)
in paragraph 1, point (a) is replaced by the following:
‘(a)
the institution is registered in a national register by the competent authority or authorised; in the case of cross-border activities referred to in Article 20, the register shall also indicate the Member States in which the institution is operating; that information shall be communicated to the European Supervisory Authority (European Insurance and Occupational Pensions Authority (hereinafter “EIOPA”), established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council25 which shall publish it on its website;’; - (b)
paragraph 5 is replaced by the following:
‘5.
In the case of cross-border activity as referred to in Article 20, the conditions of operation of the institution shall be subject to a prior authorisation by the competent authorities of the home Member State. When giving such authorisation, Member States shall immediately inform EIOPA.’.
- (a)
- (2)
Article 13 is amended as follows:
- (a)
the existing text is numbered as paragraph 1;
- (b)
the following paragraph is added:
‘2.
EIOPA may develop draft implementing technical standards on the forms and formats for the documents listed in paragraph 1(c)(i) to (vi).
Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1094/2010.’.
- (a)
- (3)
In Article 14(4), the second subparagraph is replaced by the following:
‘Any decision to prohibit the activities of an institution shall contain detailed reasons and be notified to the institution in question. It shall also be notified to EIOPA.’.
- (4)
In Article 15(6), the first subparagraph is replaced by the following:
‘6.
With a view to further harmonisation of the rules regarding the calculation of technical provisions which may be justified – in particular the interest rates and other assumptions influencing the level of technical provisions – the Commission, drawing on advice from EIOPA, shall, every 2 years or at the request of a Member State, issue a report on the situation concerning the development in cross-border activities.’.
- (5)
In Article 20, the following paragraph is added:
‘11.
Member States shall report to EIOPA their national provisions of prudential nature relevant to the field of occupational pension schemes, which are not covered by the reference to national social and labour law in paragraph 1.
Member States shall update that information on a regular basis and at least every 2 years and EIOPA shall make that information available on its website.
In order to ensure uniform conditions of application of this paragraph, EIOPA shall develop draft implementing technical standards on the procedures to be followed and formats and templates to be used by the competent authorities when transmitting and updating the relevant information to EIOPA. EIOPA shall submit those draft implementing technical standards to the Commission by 1 January 2014.
Power is conferred on the Commission to adopt the implementing technical standards referred to in the third subparagraph in accordance with Article 15 of Regulation (EU) No 1094/2010.’.
- (6)
Article 21 is amended as follows:
- (a)
the title is replaced by the following:
‘Cooperation between Member States, EIOPA and the Commission’;
- (b)
the following paragraph is inserted:
‘2a.
The competent authorities shall cooperate with EIOPA for the purposes of this Directive, in accordance with Regulation (EU) No 1094/2010.
The competent authorities shall without delay provide EIOPA with all information necessary to carry out its duties under this Directive and under Regulation (EU) No 1094/2010, in accordance with Article 35 of that Regulation.’;
- (c)
paragraph 3 is replaced by the following:
‘3.
Each Member State shall inform the Commission and EIOPA of any major difficulties to which the application of this Directive gives rise.
The Commission, EIOPA and the competent authorities of the Member States concerned shall examine such difficulties as quickly as possible in order to find an appropriate solution.’.
- (a)