63 Amendments of Siegfried MUREŞAN related to 2021/0191(COD)
Amendment 12 #
Proposal for a regulation
Recital 1
Recital 1
(1) The transition to a low-carbon, more sustainable, energy and resource-efficient, circular and fair economy is key to ensuring the long-term competitiveness of the economy of the Union and the well- being of its peoples. In 2016, the Union concluded the Paris Agreement31 . Article 2(1), point (c), of the Paris Agreement sets out the objective of strengthening the response to climate change by, among other means, making finance flows consistent with a pathway towards low greenhouse gas emissions and climate- resilient development. __________________ 31 Council Decision (EU) 2016/1841 of 5 October 2016 on the conclusion, on behalf of the European Union, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (OJ L 282, 19.10.2016, p. 4).
Amendment 17 #
Proposal for a regulation
Recital 3
Recital 3
(3) Environmentally sustainable bonds are one of the maian instruments for financing investments related to low- carbon technologies, energy and resource efficiency as well as sustainable transport infrastructure and research infrastructure. Financial or non-financial undertakings or sovereigns can issue such bonds. Various existing initiatives for environmentally sustainable bonds do not ensure common definitions of environmentally sustainable economic activities. This prevents investors from easily identifying bonds the proceeds of which are aligned with, or are contributing to environmental objectives as laid down in the Paris Agreement. A transparent, credible and effective process of defining and labeling these bonds, based on technical, scientific and knowledge-based criteria is, therefore, important to provide the market and the investors with solid information that aims to facilitate financial flows and investments.
Amendment 21 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) In relation to the European Green Bond Standard, the designation ‘sustainability’" should only refer to the environmental dimension of sustainability.
Amendment 26 #
Proposal for a regulation
Recital 7
Recital 7
(7) A uniform set of specificset of harmonized requirements should therefore be laid down for bonds issued by financial or non- financial undertakings or sovereigns that voluntarily wish to use the designation ‘European green bond’ or ‘EuGB’ for such bonds. Specifying quality requirements for European green bonds in the form of a Regulation should ensure that there are uniform conditions for the issuance of such bonds by preventing diverging national requirements that could result from a transposition of a Directive, and should also ensure that those conditions are directly applicable to issuers of such bonds. Issuers that voluntarily use the designation ‘European green bond’ or ‘EuGB’ should follow the same rules based on the requirements for environmentally sustainable economic activities as outlined in Article 3 of Regulation (EU) 2020/852 regarding taxonomy across the Union, to increase market efficiency by reducing discrepancies and thereby also reducing the costs of assessing those bonds for investors. The requirements laid down in this regulation should only apply to bonds designated as ‘European green bond’ or ‘EuGB’. Other sustainable bonds that do not carry this designation should not be affected by this regulation.
Amendment 28 #
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7a) In order to achieve the objective of becoming the international ‘gold standard’ for green bonds, the regulation should remain voluntary, to maintain and promote its attractiveness for both domestic and international market participants.
Amendment 29 #
Proposal for a regulation
Recital 8
Recital 8
(8) In accordance with Article 4 of Regulation (EU) 2020/852, and in order to provide investors with clear, quantitative, detailed and common definitions, the requirements set out in Article 3 of that Regulation should be used to determine whether an economic activity qualifies as environmentally sustainable. Proceeds ofFor a bonds that useo carry the designation ‘European green bond’ or ‘EuGB’ should exclusively, at least 70% of its proceeds should be used to fund economic activities that either are environmentally sustainable and are thus aligned with the environmental objectives set out in Article 9 of Regulation (EU) 2020/852, or contribute to the transformation of activities to become environmentally sustainable. Those bonds can however be used both to finance such environmentally sustainable activities directly through the financing of assets and expenditures that relate to economic activities that meet the requirements set out in Article 3 of Regulation (EU) 2020/852, or indirectly through financial assets that finance economic activities that meet those requirements. It is therefore necessary to specify the categories of expenditures and assets that can be financed with the proceeds of bonds that use the designation ‘European green bond’ or ‘EuGB’.
Amendment 30 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) Issuers of Green Bonds should be allowed to deduct a reasonable amount of the issuance proceeds to cover administrative and issuance costs such as for underwriting, prospectus approval, assurance etc. before calculating the share of proceeds being taxonomy- compliant.
Amendment 32 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9a) This Regulation aims to create a gold standard for sustainable bonds and should therefore be fully aligned with the taxonomy rules for sustainable investments.
Amendment 33 #
Proposal for a regulation
Recital 10
Recital 10
(10) Sovereigns are frequent issuers of environmentally sustainable bonds and should therefore also be allowed to issue ‘European green bonds’, provided that the proceeds of such bonds are used to finance either assets or expenditure that meet the taxonomy, or assets or expenditure that will meet those requirements within a reasonably short period from the issuance of the bond concerned, which can be extended however where duly justified by the specific features of the economic activities and investments concerned. For financial stability reasons, European green bonds should not enjoy any beneficial prudential treatment or beneficial treatment under the stability and growth pact.
Amendment 35 #
Proposal for a regulation
Recital 11
Recital 11
(11) Article 4 of Regulation (EU) 2020/852 requires Member States and the Union to apply the criteria set out in Article 3 of that Regulation to determine whether an economic activity qualifies as environmentally sustainable for the purposes of any measure setting out requirements for financial market participants or issuers in respect of financial products or corporate bonds that are made available as environmentally sustainable. It is therefore logical that the technical screening criteria referred to in Article 3, point (d), of Regulation (EU) 2020/852 should determine which fixed assets, expenditures and financial assets can be financed by the proceeds of European green bonds. In view of the expected technological progress in the field of environmental sustainability, the delegated acts adopted pursuant to Articles 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2) of Regulation (EU) 2020/852 are likely to be reviewed and amended over time. Regardless of such changes, in order to provide legal certainty to issuers and investors and prevent amendments to the technical screening criteria from having a negative impact on the price of European green bonds that have already been issued, issuers should be able to apply the technical screening criteria applicable at the moment the European green bond was issued when allocating the proceeds of such bonds to eligible fixed assets or expenditures, until maturity of the bond. To ensure legal certainty for European green bonds whose proceeds are allocated to financial assets, it is necessary to clarify that the underlying economic activities funded by those financial assets should comply with the technical screening criteria applicable at the moment the financial assets were created. Where the relevant delegated acts are amended, the issuer should allocate proceeds by applying the amended delegated acts within fiveten years.
Amendment 37 #
Proposal for a regulation
Recital 12
Recital 12
(12) The time needed to transform an asset to align the economic activity to which it relates with the taxonomy requirements should reasonably not exceed fiveeight years, except in certain circumstances where it may take up to twelven years. For that reason, eligible capital expenditure should relate to economic activities that meet or will meet the taxonomy requirements within fiveeight years from the issuance of the bond, unless a longer period of up to twelven years is justified by the specific features of the economic activities and investments concerned.
Amendment 38 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) While this regulation introduces clear criteria for the use of the proceeds generated by a green bond issuance, it should not introduce any additional entity-level requirements for the issuer.
Amendment 39 #
Proposal for a regulation
Recital 13
Recital 13
(13) Investors should be provided with all information necessary to evaluate the environmental impact of European green bonds, and to compare such bonds with each other. For that purpose, specific and standardised disclosure requirements need to be set out which provide transparency about how the issuer intends to allocate the bond proceeds to eligible fixed assets, expenditures and financial assets and how those proceeds have actually been allocated. This information should be based on science based harmonised, comparable and uniform indicators and be consistent with the harmonised life cycle assessment. Such transparency can best be achieved by means of European green bond factsheets and annual allocation reports. To strengthen the comparability of European green bonds and to facilitate the localisation of relevant information, it is necessary to lay down templates for the disclosure of such information.
Amendment 41 #
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13a) Disclosure requirements should guarantee high standards of investor protection, transparency and comparability. However, these requirements should not represent an excessive administrative and bureaucratic burden to issuers. Therefore, both the requirements and the templates should be legally certain, accessible and safeguard simple and effective processes to guarantee full compliance.
Amendment 42 #
Proposal for a regulation
Recital 14
Recital 14
(14) Investors should benefit from cost- effective access to reliable and reasonably detailed information about the European green bonds. Issuers of European Green Bonds should therefore contract external reviewers to provide a pre-issuance review of the European green bond factsheet, and post-issuance reviews of European green bond annual allocation reports.
Amendment 43 #
Proposal for a regulation
Recital 15
Recital 15
(15) Issuers of European green bonds should abide by their commitments to investors and allocate the proceeds of their bonds within a reasonably short time after issuance. At the same time, issuers should not be penalised for allocating bond proceeds to economic activities that do not yet meet the taxonomy requirements, but will do so within the fiveeight year period (or extended twelven year period). Issuers should in any case allocate all proceeds of their European green bonds before the maturity of each bond.
Amendment 47 #
Proposal for a regulation
Recital 18
Recital 18
(18) To improve transparency, issuers should also disclose the environmental impact of their bonds by means of the publication of impact reports, which should be published at least once during the lifetime of the bondevery five years until maturity. In order to provide investors with all information relevant to assess the environmental impact of European green bonds, impact reports should clearly specify the metrics, methodologies and assumptions applied in the assessment of the environmental impacts. To strengthen the comparability of European green bonds and to facilitate the localisation of relevant information, it is necessary to lay down templates for the disclosure of such information. The impact reports should be subject to scrutiny by external reviewers.
Amendment 49 #
Proposal for a regulation
Recital 20
Recital 20
(20) To ensure the efficiency of the market for European green bonds, issuers should publish on their websites details about the European green bonds they issue. To ensure the reliability of information and investor confidence, they shall also publish the pre-issuance review as well as any post-issuance reviews. To ensure high standards of transparency, accessibility and investor protection, these publications should be available in an accessible way within the website, with adequate timelines that allow the user to identify the substantial changes from one review to another.
Amendment 51 #
Proposal for a regulation
Recital 24
Recital 24
(24) To ensure the independence of external reviewers and safeguard high standards of transparency and ethical conduct, external reviewers should avoid situations of actual or potential conflict of interest and manage those conflicts adequately when they are unavoidable. External reviewers should therefore disclose any conflicts of interest in a transparent and timely manner. They should also keep records of all significant threats to their independence, to that of their employees and to that of other persons involved in the external review process. They should also keep records of the safeguards applied to mitigate those threats.
Amendment 53 #
Proposal for a regulation
Recital 26 a (new)
Recital 26 a (new)
(26a) In order to support ESMA´s activity in the exercise of its general competence for the registration and ongoing supervision of registered external reviewers in the Union, the national competent authorities should cooperate, with ESMA in a loyal and effective way, with exchange of information mechanisms that guarantee a transparent, credible and effective process of registration and supervision. To that end, ESMA should be provided with sufficient resources.
Amendment 54 #
Proposal for a regulation
Recital 31
Recital 31
(31) In accordance with Article 290 TFEU, power should be delegated to the Commission to specify the procedure for the exercise of the power to impose fines or periodic penalty payments, including provisions on rights of defence, temporal provisions, the collection of fines or periodic penalty payments, and detailed rules on the limitation periods for the imposition and enforcement of penalties and the type of fees, the matters for which fees are due, the amount of the fees, and the manner in which those fees are to be paid. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert and national competent authorities level , and that those consultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making35 . In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council should receive all documents at the same time as Member States’ experts, and their experts should systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. __________________ 35 OJ L 123, 12.5.2016, p. 1.
Amendment 56 #
Proposal for a regulation
Recital 32
Recital 32
(32) As a body with highly specialised expertise, it would be efficient and appropriate to entrust ESMA with the development of draft regulatory and implementing technical standards that do not involve policy choices for submission to the Commission. The European Parliament and the Commission should be properly and timely informed of those draft standards in order to safeguard proper democratic scrutiny.
Amendment 61 #
Proposal for a regulation
Recital 37 a (new)
Recital 37 a (new)
(37a) The EU Green Bond Standard should remain a voluntary tool and should not be made mandatory at a further stage.
Amendment 63 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation lays down uniform requirements for issuers of bonds that wish to use the designation ‘European green bond’ or ‘EuGB’ for their environmentally sustainable bonds made available to investors in the Union, and establishes a registration system and supervisory framework for external reviewers of European green bonds. This Regulation shall not apply to other bonds marketed as sustainable in the Union.
Amendment 70 #
Proposal for a regulation
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
As of the entry in force of this regulation and at least for ten years thereafter, the use of the designation "European Green Bonds" or "EuGB" shall remain voluntary for all issuers.
Amendment 81 #
Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
1. The use of proceeds referred to in Article 4 shall relate to economic activities that meet the taxonomy requirements, or that will meet the taxonomy requirements within a defined period of time as set out in a taxonomy-alignment plan. Costs related to cases where the environmental objectives set out in Article 9 of Regulation (EU) 2020/852 are not directly applicable as a result of factors such as the innovative nature, the complexity, and/or the location of the activity and the costs related to the issuance costs of the bond shall also be covered by the bond proceeds.
Amendment 85 #
Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 3
Article 6 – paragraph 1 – subparagraph 3
The period referred to in the first and second subparagraph shall not exceed fiveeight years from bond issuance, unless a longer period of up to ten12 years is justified by the specific features of the economic activities concerned as documented in a taxonomy- alignment plan. The Commission shall adopt delegated acts in accordance with Article 60 in order to supplement this Regulation by outlining the list of economic activities that qualify for the application of the extended period of up to 12 years.
Amendment 90 #
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6a Use of Proceeds in Case of Securitisation In case a European Green Bond is used for securitisation purposes, the requirements of Article 6shall apply to the entity from which the issuance economically originates.
Amendment 102 #
Proposal for a regulation
Article 8 – paragraph 1 – point b
Article 8 – paragraph 1 – point b
(b) ensure that the completed European green factsheet has been subject to a pre- issuance review with a positive opinion by an external reviewer, duly registered with ESMA pursuant to this Regulation.
Amendment 107 #
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
3. Issuers of European green bonds shall obtain a post-issuance review by an external reviewer of the allocation report drawn up after the full allocation of the proceeds of the European green bond in accordance with Articles 4 to 7. That external reviewer shall be registered with ESMA.
Amendment 109 #
Proposal for a regulation
Article 9 – paragraph 4
Article 9 – paragraph 4
4. Where, following the publication of the allocation report in accordance with Article 13(1), point (c), the allocation of proceeds is corrected, issuers of the European green bonds concerned shall amend the allocation report and obtain a post-issuance review by an external reviewer of that amended allocation report. That external reviewer shall be registered with ESMA.
Amendment 110 #
Proposal for a regulation
Article 9 – paragraph 5
Article 9 – paragraph 5
5. By way of derogation from paragraph 3, every allocation report from issuers that are financial undertakings that allocate proceeds from a portfolio of several European green bonds to a portfolio of financial assets as referred to in Article 5 shall be subject to a post-issuance review by an external reviewer. The external reviewer, duly registered with ESMA, shall pay particular attention to those financial assets that were not included in any previously published allocation report.
Amendment 112 #
Proposal for a regulation
Article 9 – paragraph 6
Article 9 – paragraph 6
6. Issuers of European green bonds shall provide the allocation reports referred to in paragraph 3, 4, and 5 to an external reviewer within 30 days following the end of the year to which the allocation reports refer. Tand shall make the post-issuance review must be made public within 9120 days following the receiptend of the year to which the allocation reports refer.
Amendment 113 #
Proposal for a regulation
Article 9 – paragraph 7 – point a
Article 9 – paragraph 7 – point a
(a) an assessment of whether the issuer has allocated the proceeds of the bond in compliancealignment with Articles 4 to 7 based on the information provided to the external reviewer;
Amendment 114 #
Proposal for a regulation
Article 9 – paragraph 7 – point b
Article 9 – paragraph 7 – point b
(b) an assessment of whether the issuer has complialigned with the intended use of proceeds set out in the green bond factsheet based on the information provided to the external reviewer;
Amendment 116 #
Proposal for a regulation
Article 9 – paragraph 8
Article 9 – paragraph 8
8. Where bond proceeds are allocated to tax relief as referred to in Article 4(2), point (c) or subsidies as referred to in Article 4(2), point (d), the post-issuance review shall only assess compliancethe extent to which the issuer has aligned with Articles 4 to 7 of the terms and conditions under which those expenditures or transfers have been disbursed, based on the information provided to the external reviewer.
Amendment 117 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Issuers of European green bonds shall, after the full allocation of the proceeds of such bonds and at least once during the lifetimeevery five years until the maturity of the bond, draw up a European green bond impact report on the environmental impact of the use of the bond proceeds by using the template laid down in Annex III. That report shall be subject to scrutiny by external reviewers.
Amendment 124 #
Proposal for a regulation
Article 13 – paragraph 1 – introductory part
Article 13 – paragraph 1 – introductory part
1. Issuers of European green bonds shall publish on their website, in a distinct and accessible section titled ‘European green bonds’ and make available free of charge until at least the maturity of the bonds concerned, all of the following:
Amendment 125 #
Proposal for a regulation
Article 13 – paragraph 1 – point c
Article 13 – paragraph 1 – point c
(c) the European green bond annual allocation reports referred to in Article 9, every year until the full allocation of the proceeds of the European green bond concerned, no later than three months following the end of the year it refers to;without undue delay
Amendment 127 #
Proposal for a regulation
Article 13 – paragraph 4
Article 13 – paragraph 4
4. Issuers of European green bonds shall notify the National Competent Authority referred to in Article 36 of the publication of all the documents referred to in paragraph 1 without undue delin 30 days.
Amendment 131 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. External reviewers for European green bonds shall, before taking up their activities, register with ESMAa recognised registration authority.
Amendment 132 #
Proposal for a regulation
Article 14 – paragraph 1 a (new)
Article 14 – paragraph 1 a (new)
1a. The recognised registration authority referred to in paragraph 1 shall be the national competent authority of the Member State of the registered office of the external reviewer. Notwithstanding the first subparagraph, in the case of external reviewers that are already subject to the supervision of ESMA in accordance with Union law, the recognised registration authority referred to in paragraph 1 shall be ESMA. For the purpose of the first subparagraph, the national competent authority shall be an authority designated by national law as having responsibility for the supervision of financial market participants or auditors. National competent authorities shall notify ESMA of the information required for the establishment of the publicly accessible register referred to in Article 59 with regard to the external reviewers that have registered with them.
Amendment 133 #
Proposal for a regulation
Article 14 – paragraph 2
Article 14 – paragraph 2
2. External reviewers registered with ESMAa recognised registration authority shall meet the conditions for registration laid down in Article 15(2) at all times.
Amendment 135 #
Proposal for a regulation
Article 15 – paragraph 1 – point h
Article 15 – paragraph 1 – point h
(h) the policies or procedures implemented by the applicant to identify, and eliminate or manage and disclose anyin a transparent manner any actual or potential conflicts of interests as referred to in Article 27;
Amendment 137 #
Proposal for a regulation
Article 15 – paragraph 1 – point i
Article 15 – paragraph 1 – point i
(i) where applicable, documents and information related to any existing or planned outsourcing arrangements for activities of the external reviewer covered by this Regulation, including information on entities assuming outsourcing functions;
Amendment 139 #
Proposal for a regulation
Article 15 – paragraph 2 – point a – point iv
Article 15 – paragraph 2 – point a – point iv
(iv) is experienced in either quality assurance, quality control, the performance of pre- and post-issuance reviews and, the provision of second party alignment opinions, or financial services;
Amendment 140 #
Proposal for a regulation
Article 15 – paragraph 3 – subparagraph 1
Article 15 – paragraph 3 – subparagraph 1
3. ESMA shall assess whether the application is complete within 2015 working days after its receipt.
Amendment 141 #
Proposal for a regulation
Article 15 – paragraph 3 – subparagraph 2
Article 15 – paragraph 3 – subparagraph 2
Where the application is not complete, ESMA shall notify the applicant thereof and set a deadline by which the applicant is to provide additional information, without undue delay.
Amendment 142 #
Proposal for a regulation
Article 15 – paragraph 3 – subparagraph 3
Article 15 – paragraph 3 – subparagraph 3
Where the application is complete, ESMA shall notify the applicant thereof, without undue delay.
Amendment 144 #
Proposal for a regulation
Article 15 – paragraph 4 – subparagraph 3
Article 15 – paragraph 4 – subparagraph 3
ESMA shall notify in writing an applicant, without undue delay, of his or her registration as an external reviewer, or of its refusal to register an applicant. The decision to register or the refusal to register shall provide reasons and take effect on the fifth working day following its adoption.
Amendment 145 #
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 1
Article 16 – paragraph 1 – subparagraph 1
1. An external reviewer shall notify ESMA of any material changes in the information provided in accordance with Article 15(1) or in the facts concerning the information referred to in Article 15(1) before such changes are implemented and without undue delay
Amendment 146 #
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 2
Article 16 – paragraph 1 – subparagraph 2
ESMA shall analyse those material changes. Where ESMA objects to such material changes, it shall inform the external reviewer within two month45 working days of the notification of those changes and shall state the reasons for the objection. The changes referred to in the first subparagraph may only be implemented provided that ESMA does not object to those changes within that period.
Amendment 147 #
Proposal for a regulation
Article 19 – paragraph 1 – point c
Article 19 – paragraph 1 – point c
(c) that any actual or potential conflicts of interest are properly identified and eliminated or , managed and disclosed in a transparent manner;
Amendment 153 #
Proposal for a regulation
Article 27 – paragraph 1
Article 27 – paragraph 1
1. External reviewers shall identify, eliminate, or manage and disclose in a transparent manner any actual or potential conflicts of interest, irrespective of whether that conflict of interest concerns their analysts or employees, any person that is contractually related to the external reviewers and that is directly involved in assessment activities, or persons approving pre-issuance reviews and post-issuance reviews.
Amendment 160 #
Proposal for a regulation
Article 30 – paragraph 1 – introductory part
Article 30 – paragraph 1 – introductory part
1. External reviewers shall publish and make available free of charge on their websites and on the relevant trading venue all of the following:
Amendment 162 #
Proposal for a regulation
Article 31 – paragraph 7
Article 31 – paragraph 7
7. Within 20 working days of receipt of the application, ESMA shall assess whether the application is complete. Where the application is not complete, ESMA shall set a deadline, without undue delay, by which the applicant third-country external reviewer is to provide additional information.
Amendment 163 #
Proposal for a regulation
Article 31 – paragraph 9 – subparagraph 1 a (new)
Article 31 – paragraph 9 – subparagraph 1 a (new)
ESMA may extend the period referred to in the first subparagraph by 15 working days where the applicant intends to use outsourcing to perform its activities as an external reviewer.
Amendment 164 #
Proposal for a regulation
Article 34 – paragraph 5 – subparagraph 5
Article 34 – paragraph 5 – subparagraph 5
ESMA shall notify an applicant, without undue delay, of its recognition as a third country external reviewer or of its refusal. The decision to recognise or the refusal to recognise shall provide reasons and take effect on the fifth working day following its adoption.
Amendment 165 #
Proposal for a regulation
Article 35 – paragraph 3 – subparagraph 3
Article 35 – paragraph 3 – subparagraph 3
Where the application is complete, ESMA shall notify the applicant thereof, without undue delay.
Amendment 170 #
Proposal for a regulation
Article 37 – paragraph 3
Article 37 – paragraph 3
3. Member States shall ensure that appropriate measures are in place so that competent authorities have all the supervisory and investigatory powers, as the adequate resources, that are necessary to fulfil their duties.
Amendment 175 #
Proposal for a regulation
Article 44 – paragraph 4
Article 44 – paragraph 4
4. Competent authorities shall ensure that any publication in accordance with this Article shall remain on their official website for a period of at least five years after its publication. Personal data contained in the publication shall be limited to the essential data regarding the specific case and shall be kept on the official website of the competent authority only for the period which is necessary in accordance with the applicable data protection rules.
Amendment 176 #
Proposal for a regulation
Article 47 – paragraph 2 – point d
Article 47 – paragraph 2 – point d
(d) set a reasonable time-limit within which the information is to be provided;
Amendment 180 #
Proposal for a regulation
Article 64 – paragraph 1
Article 64 – paragraph 1
This Regulation shall enter into force on the twentieth daye year following that of its publication in the Official Journal of the European Union.