Written answers
Tuesday, 14 November 2006
Department of Finance
EU Directives
9:00 am
Bernard Allen (Cork North Central, Fine Gael)
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Question 249: To ask the Minister for Finance the number of EU directives awaiting transposition in his Department; the date by which these directives are to be, or were to be, transposed into Irish law; the number of such EU directives which are overdue for transposition; when he expects that overdue directives will be transposed; and if he will make a statement on the matter. [37866/06]
Brian Cowen (Laois-Offaly, Fianna Fail)
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There are 9 EU directives which have not yet been transposed into law. The deadline for transposition has passed in respect of two of the nine directives. The other seven directives are expected to be transposed by the due dates.
| Transposition | |||||
| Directive Ref. No. | Title | Deadline for Transposition of Directive | Expected date | Method | Purpose of Directive & Current Position |
| 2004/17/EC | Revised Utilities Sector Procurement Directive | 30 January 2006 | November 2006 | Statutory Instrument (SI) | Directive co-ordinates the procurement procedures of entities operating in the water, energy, transport and postal services sector. |
| 2005/51/EC | Internal Market & Services Commission Directive | 31 January 2006 | Partly transposed 22 June 2006 by SI No 329 of 2006. Remainder: Nov 2006 | SI | This Directive is linked to Directives 2004/17/EC and 2004/18/EC and has been partly transposed under SI No 329 of 2006. It will be completed with the transposition of Directive 2004/17/EC. |
| 2005/81/EC | Commission Directive | 19 Dec 2006 | 19 Dec 2006 | SI | This Directive is a minor update of Directive 80/723/EEC (as amended by Directive 2005/81/EC) which was transposed under the European Communities (Financial Transparency) Regulations 2004. |
| 2006/48/EC 2006/49/EC | Capital Requirements Directive | 1 January 2007 | December 2006 | SI and Central Bank Notices | (Directives formally adopted on 14th June 2006) Heads of SI have gone to Parliamentary Counsel for drafting. Directive becomes effective on a phased basis: |
| Directive Ref. No. | Title | Deadline for Transposition of Directive | Expected date | Method | Purpose of Directive & Current Position |
| 2004/39/EC | Markets in Financial Instruments Directive | 31 January 2007 | Early 2007 | SI & Primary legislation | This co-decision Directive allows investment firms to provide their services across the EU on the basis of their home country authorisation, that is, it will give them an effective "single passport". This Directive and the associated Commission Directive. All must be transposed by 31/1/07 and be implemented by industry from 1/11/07. |
| 2005/60/EC | 3rd Money Laundering Directive | December 2007 | December 2007 | Primary Legislation | The purpose of the Directive is to strengthen the legal measures to prevent of the use of the financial system for money laundering and terrorist financing. My Department, together with the Department of Justice Equality and Law Reform has conducted an extensive consultation with interested parties. It is intended that transposition will be effected by means of a Criminal Justice Bill to amend or replace the relevant provisions of the Criminal Justice Act 1994. |
| 2005/68/EC | Reinsurance Directive | December 2007 | Bulk of Directive transposed w.e.f. 15thJuly 2006 by SI 380 of 2006 | SI | The purpose of Reinsurance Directive is to put in place a regulatory regime for reinsurance companies. Regulations partially transposing this Directive were signed on 14th July 2006. Work on transposing the remaining Articles 57-60 is continuing and should be completed shortly. |
Every effort is being made by my Department, in conjunction with the Office of the Attorney General and Parliamentary Counsel to the Government, to ensure that directives are implemented where possible within their deadlines. Information relating to directives already transposed and those awaiting transposition is regularly updated on the EU legislation page of the Department of Finance website.
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