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Text applicable on 4 Jan 2011Consolidated version of 4 Jan 2011Earlier versionUpcoming changefrom 9 Dec 2011Unofficial text · authentic on EUR-Lex (opens in a new tab)

FICOD Article 20 — as applicable on 4 Jan 2011 (version of 4 Jan 2011)

Upcoming changeThis provision is amended or removed from 9 Dec 2011.View that version

Article 20

Powers conferred on the Commission

Amendment details· last amended 4 Jan 2011
Versions of this provision:13 Apr 200521 Mar 20084 Jan 20119 Dec 2011

Last amended 4 Jan 2011 by Directive 2010/78/EU of 24 November 2010.

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1.

The Commission shall adopt ————— the technical adaptations to be made to this Directive in the following areas:

(a)

a more precise formulation of the definitions referred to in Article 2 in order to take account of developments in financial markets in the application of this Directive;

(b)

a more precise formulation of the definitions referred to in Article 2 in order to ensure uniform application of this Directive in the Community;

(c)

the alignment of terminology and the framing of definitions in the Directive in accordance with subsequent Community acts on regulated entities and related matters;

(d)

a more precise definition of the calculation methods set out in Annex I in order to take account of developments on financial markets and prudential techniques;

(e)

coordination of the provisions adopted pursuant to Articles 7 and 8 and Annex II with a view to encouraging uniform application within the Community.

Those measures, designed to amend non-essential elements of this Directive, inter alia, by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 21(2).

Those measures shall not include the subject matter of the power delegated and conferred on the Commission with regard to the items listed in Article 21a.

2.

The Commission shall inform the public of any proposal presented in accordance with this Article and will consult interested parties prior to submitting the draft measures to the Financial Conglomerates Committee referred to in Article 21.