5 Amendments of Sajjad KARIM related to 2009/0142(COD)
Amendment 16 #
Proposal for a regulation
Recital 20
Recital 20
(20) To overcome exceptional situations of persistent inaction by the competent authority concerned, the Authority should be empowered, as a last resort and only in urgent situations, to adopt decisions addressed to individual financial institutions. This power should be limited to exceptional circumstances in which a competent authority does not comply with the decisions addressed to it and in which CommunityUnion law is directly applicable to financial institutions by virtue of existing or future EU Regulations.
Amendment 23 #
Proposal for a regulation
Article 9 – paragraph 6 – introductory part
Article 9 – paragraph 6 – introductory part
6. Without prejudice to the powers of the Commission under Article 226 of the Treaty, where a competent authority does not comply with the decision referred to in paragraph 4 of this Article within the period of time specified therein, and where it is urgent and necessary to remedy in a timely manner the non compliance by the competent authority in order to maintain or restore neutral conditions of competition in the market or ensureensure financial stability, the orderly functioning and integrity of the financial system in the internal market, the Authority may, where the relevant requirements of the legislation referred to in Article 1(2) are directly applicable to financial institutions, adopt an individual decision addressed to a financial institution requiring the necessary action to comply with its obligations under CommunityUnion law including the cessation of any practice.
Amendment 25 #
Proposal for a regulation
Article 10 – paragraph 3
Article 10 – paragraph 3
Amendment 26 #
Proposal for a regulation
Article 10 – paragraph 4 – subparagraph 1
Article 10 – paragraph 4 – subparagraph 1
Amendment 27 #
Proposal for a regulation
Article 10 – paragraph 4 – subparagraph 2
Article 10 – paragraph 4 – subparagraph 2