EU Directives.

Dáil Éireann Debate, Tuesday - 14 November 2006

Tuesday, 14 November 2006

Questions (185)

Bernard Allen

Question:

249 Mr. Allen asked the Minister for Finance the number of EU directives awaiting transposition in his Department; the date by which these directives are to be, or were to be, transposed into Irish law; the number of such EU directives which are overdue for transposition; when he expects that overdue directives will be transposed; and if he will make a statement on the matter. [37866/06]

Written answers

Minister for Finance (Mr. Cowen)

There are 9 EU directives which have not yet been transposed into law. The deadline for transposition has passed in respect of two of the nine directives. The other seven directives are expected to be transposed by the due dates.

Transposition

Directive Ref. No.	Title	Deadline for Transposition of Directive	Expected date	Method	Purpose of Directive & Current Position
2004/17/EC	Revised Utilities Sector Procurement Directive	30 January 2006	November 2006	Statutory Instrument (SI)	Directive co-ordinates the procurement procedures of entities operating in the water, energy, transport and postal services sector. Draft SI transposing this Directive being finalised by the Parliamentary Counsel’s Office. They should be completed in the next few weeks. Letter of formal notice of infringement has been received and will be dealt with when transposition process is completed.
2005/51/EC	Internal Market & Services Commission Directive	31 January 2006	Partly transposed 22 June 2006 by SI No 329 of 2006. Remainder: Nov 2006	SI	This Directive is linked to Directives 2004/17/EC and 2004/18/EC and has been partly transposed under SI No 329 of 2006. It will be completed with the transposition of Directive 2004/17/EC.
2005/81/EC	Commission Directive	19 Dec 2006	19 Dec 2006	SI	This Directive is a minor update of Directive 80/723/EEC (as amended by Directive 2005/81/EC) which was transposed under the European Communities (Financial Transparency) Regulations 2004. A draft SI has been drawn up by the Office of the Parliamentary Counsel and is expected to be submitted for signature shortly.
2006/48/EC 2006/49/EC	Capital Requirements Directive	1 January 2007	December 2006	SI and Central Bank Notices	(Directives formally adopted on 14th June 2006) Heads of SI have gone to Parliamentary Counsel for drafting. Directive becomes effective on a phased basis: 1 Jan. 2007 — for implementation of Standardised Methods 1 Jan. 2008 — for implementation of Advanced Methods

Directive Ref. No.	Title	Deadline for Transposition of Directive	Expected date	Method	Purpose of Directive & Current Position
2004/39/EC 2006/73/EC	Markets in Financial Instruments Directive Commission Directive implementing Directive 2004/39/EC as regards organisational requirements and operating conditions.	31 January 2007 31 January 2007	Early 2007	SI & Primary legislation	This co-decision Directive allows investment firms to provide their services across the EU on the basis of their home country authorisation, that is, it will give them an effective “single passport”. This Directive and the associated Commission Directive. All must be transposed by 31/1/07 and be implemented by industry from 1/11/07. The two Directives are mainly being transposed by SI and this is expected to be made by the required deadline of 31 January 2007. In addition there are some technical provisions, mainly relating to penalties for non-compliance with the Directive’s provisions, which require primary legislation. These provisions are expected to be enacted in advance of the Directive coming into operation at industry level on 1 November 2007. Heads of Bill have gone to Parliamentary Counsel for drafting; publication by early 2007.
2005/60/EC	3rd Money Laundering Directive	December 2007	December 2007	Primary Legislation	The purpose of the Directive is to strengthen the legal measures to prevent of the use of the financial system for money laundering and terrorist financing. My Department, together with the Department of Justice Equality and Law Reform has conducted an extensive consultation with interested parties. It is intended that transposition will be effected by means of a Criminal Justice Bill to amend or replace the relevant provisions of the Criminal Justice Act 1994.
2005/68/EC	Reinsurance Directive	December 2007	Bulk of Directive transposed w.e.f. 15thJuly 2006 by SI 380 of 2006	SI	The purpose of Reinsurance Directive is to put in place a regulatory regime for reinsurance companies. Regulations partially transposing this Directive were signed on 14th July 2006. Work on transposing the remaining Articles 57-60 is continuing and should be completed shortly.

Every effort is being made by my Department, in conjunction with the Office of the Attorney General and Parliamentary Counsel to the Government, to ensure that directives are implemented where possible within their deadlines. Information relating to directives already transposed and those awaiting transposition is regularly updated on the EU legislation page of the Department of Finance website.