[ParlTrack]

Proposal for a regulation
Recital 12

(12) It is appropriate to set a single end dates by when all credit transfers and direct debit transactions should comply with those technical requirements, while leaving the market open for further development and innovation.

2011/06/07
Committee: IMCO

Olle SCHMIDT

Proposal for a regulation
Recital 13

(13) Separate migration dates should be set in order to take into account the differences between credit transfers and direct debits. Union-wide credit transfers and direct debits do not have the same level of maturity, since a direct debit is a more complex instrument than a credit transfer and, consequently, migration to Union-wide direct debits requires significantly more resources than migration to Union-wide credit transfers.deleted

2011/06/07
Committee: IMCO

Olle SCHMIDT

Proposal for a regulation
Recital 23

(23) Since payment service providers from Member States outside the euro area would need to undertake more preparatory work, such payment service providers should be allowed to defer the application of these technical requirements for a certain period. Member States outside the euro area should however comply with the technical requirements swiftly to create a true European payment area, which will strengthen the internal market.

2011/06/07
Committee: IMCO

Olle SCHMIDT

Proposal for a regulation
Article 5 – paragraph 1

1. By [insert concrete date 124 months after entry into force of this Regulation] at the latest, credit transfers shall be carried out in accordance with the technical requirements set out in points 1 and 2 of the Annex.

2011/06/07
Committee: IMCO

Jürgen CREUTZMANN, Olle SCHMIDT

Proposal for a regulation
Article 5 – paragraph 3 a (new)

3a. Direct debits issued by payers in accordance with national provisions prior to the date referred to in Article 5(2) shall be migrated as of this date by payment service providers to SEPA direct debits free of charge and automatically, unless the payer objects to migration within four weeks.

2011/06/07
Committee: IMCO

Jürgen CREUTZMANN, Olle SCHMIDT

Proposal for a regulation
Article 5 – paragraph 3 b (new)

3b. Standing orders issued by payers in accordance with national provisions prior to the date referred to in Article 5(1) shall be migrated as of this date by payment service providers to the SEPA system free of charge and automatically, unless the payer objects to migration within four weeks.

2011/06/07
Committee: IMCO

Olle SCHMIDT

Proposal for a regulation
Article 7

1. Member States may allow their competent authorities to waive all or some of the requirements set out in paragraphs 1, 2 and 3 of Article 5 until [insert concrete date 36 months after entry into force of this Regulation] for those credit transfer or direct debit transactions with a cumulative market share, based on the official payment statistics published annually by the European Central Bank, of less than 10 % of the total number of credit transfer or direct debit transactions respectively, in that Member State. 2. Member States may allow their competent authorities to waive all or some of the requirements set out in paragraphs 1, 2 and 3 of Article 5 until [insert concrete date) 60 months after entry into force of this Regulation] for those payment transactions initiated through a payment card at the point of sale which result in direct debit from a payment account identified by BBAN or IBAN. 3. Where a Member State allows its competent authorities to apply the waiver provided for in paragraphs 1 and 2, it shall notify the Commission accordingly by [insert concrete date 6 months after entry into force of this Regulation]. The Member State shall notify the Commission forthwith of any subsequent change.Article 7 deleted Waiver

2011/06/07
Committee: IMCO

Olle SCHMIDT

Proposal for a regulation
Article 9 – paragraph 1 – subparagraph 1a (new)

In order to ensure that the technical requirements set out in this Regulation find acceptance among union citizens and businesses, these public authorities shall carry out information campaigns in order to raise public awareness.

2011/06/07
Committee: IMCO

Olle SCHMIDT

Proposal for a regulation
Article 17 – paragraph 1

1. Payment service providers located in a Member State which does not have the euro as its currency shall comply with Article 3 by ~~31 October 2014~~[insert concrete date 36 months after entry into force of this regulation]. If, however, the euro is introduced as the currency of any such Member State ~~before 1 November 2013~~, the payment service provider located in that Member State shall comply with Article 3 within ~~one year of the date on which~~the same time limit as for the Member State ~~concerned joined~~already within the euro area.

2011/06/07
Committee: IMCO

Olle SCHMIDT

Proposal for a regulation
Article 17 – paragraph 2

2. Payment service providers located in a Member State which does not have the euro as its currency shall comply with the requirements set out in Article 4 and in points 1 and 2 of the Annex for credit transfers denominated in euros and with the requirements set out in Article 4 and in points 1 and 3 of the Annex for direct debit transactions denominated in euros by [insert concrete date 36 month~~) 4 year~~s after entry into force of this Regulation]. If, however, the euro is introduced as the currency of any such Member State ~~before [insert concrete date 3 years after entry into force of this Regulation]~~, the payment service provider located in that Member State shall ~~meet those requirements within one year of the date on which~~comply with Article 4 within the same time limit as for the Member State ~~concerned joined~~already within the euro area.

2011/06/07
Committee: IMCO

Activities of Olle SCHMIDT related to 2010/0373(COD)

Shadow opinions (1)

Amendments (10)

ParlTrack - 2011-2024