Written Answers. - EU Directives.
Frances Fitzgerald
Ceist:
131
Ms F. Fitzgerald
asked the
Minister for Finance
the EU Directives coming wholly or partly under the auspices of his Department that were not fully implemented as of 1 January 1996; the reference number and subject matter of each Directive; the deadline for implementation set out in the Directive; whether it is proposed to implement the Directive by means of a Bill or by Statutory Instrument; and when it is proposed to implement the Directive.
[19470/96]
There are three EU Directives for which my Department has responsibility which have not yet been fully implemented.
1. "The BCCI Directive"— Directive 95/26/EC of the European Parliament and of the Council of 29 June, 1995.
This Directive amends Directives 77/780/EEC and 89/646/EEC in the field of credit institutions, Directives 73/239/EEC and 92/49/EEC in the field of life assurance, Directive 93/22/EEC in the field of investment firms and Directive 85/611/EEC in the field of undertakings for collective investment in transferable securities (UCITS), with a view to reinforcing prudential supervision.
The deadline for implementation is 18 July 1996.
In so far as the provision of the Directive come under the auspices of my Department, it is proposed to implement the Directive by means of Statutory Instrument by the deadline laid down.
2. Technical Amendment to the Solvency Ratio Directive — Commission Directive 95/67/EC of 15 December 1995.
This Directive will make a technical amendment to Council Directive 89/647/EEC on a solvency ratio for credit institutions as regards the definition of "multilateral development banks".
The deadline for implementation is 1 July 1996.
It is proposed to implement the Directive by means of an Implementation Notice to be issued by the Central Bank of Ireland to credit institutions, amending its Licensing and Supervision Requirements and Standards, by the end of January.
3. Directive 94/74/EC.
This Directive amends Directive 92/12/EEC on the general arrangements for products subject to excise duty, Directive 92/81/EEC on the harmonisation of the structures of excise duties on mineral oils and Directive 92/82/EEC on the approximation of the rates of excise duties on mineral oils.
The implementation date in the Directive is 1 July 1995.
Implementation of the Directive is expected shortly.
