Date: 2019-03-11Category: Not ApplicableState: Union GovernmentCountry: Europe
Council Decision (EU) 2019/380 of 4 March 2019 on the position to be adopted, on behalf of the European Union, within the EEA Joint Committee concerning the amendment of Annex IX (Financial services) and Annex XIX (Consumer protection) to the EEA Agreement (Text with EEA relevance.)
**Executive Summary:**
This Council Decision outlines the European Union's position within the EEA Joint Committee regarding amendments to Annex IX (Financial services) and Annex XIX (Consumer protection) of the EEA Agreement. The amendments incorporate Directive 2014/17/EU on credit agreements for consumers relating to residential immovable property into the EEA Agreement. The decision enters into force on the date of its adoption, 4 March 2019.
**Key Points / Main Content:**
* **Amendment of Annex IX (Financial Services):**
* Directive 2014/17/EU is added to point 31g regarding Regulation (EU) No 1093/2010.
* Directive 2014/17/EU is inserted after point 31i regarding Regulation (EU) No 1095/2010.
* Specific adaptations are made regarding the terms "Member States" and "competent authorities," EFTA Surveillance Authority, and dates related to implementation and statistical monitoring, with exemptions for Liechtenstein.
* **Amendment of Annex XIX (Consumer Protection):**
* Directive 2014/17/EU is added to point 7h regarding Directive 2008/48/EC.
* **Authentic Texts:**
* The text of Directive 2014/17/EU in Icelandic and Norwegian will be published in the EEA Supplement to the Official Journal of the European Union and shall be authentic.
* **Entry into Force:**
* The Decision enters into force once all notifications under Article 103(1) of the EEA Agreement have been made.
* **Publication:**
* The Decision will be published in the EEA Section of, and the EEA Supplement to, the Official Journal of the European Union.
**Impact Analysis:**
* **EEA Joint Committee:**
* *Impact:* Must adopt the draft decision to amend Annex IX and Annex XIX of the EEA Agreement.
* *Action Required:* Formal adoption of the decision.
* **European Union:**
* *Impact:* The EU's position within the EEA Joint Committee regarding the amendments is defined.
* *Action Required:* Ensure representation and advocacy for the defined position within the EEA Joint Committee.
* **EFTA States (Iceland, Liechtenstein, Norway):**
* *Impact:* Incorporation of Directive 2014/17/EU into their national laws and regulations with specific adaptations.
* *Action Required:* Implement the Directive, considering the specified adaptations, and ensure compliance.
* **European Supervisory Authority (EBA):**
* *Impact:* Shared supervisory powers with the EFTA Surveillance Authority in certain instances.
* *Action Required:* Coordinate with the EFTA Surveillance Authority as necessary.
* **EFTA Surveillance Authority:**
* *Impact:* Granted supervisory powers equivalent to the EBA in certain instances.
* *Action Required:* Exercise supervisory powers as defined in the adapted Directive.
* **Consumers and Credit Providers within the EEA:**
* *Impact:* Directive 2014/17/EU, concerning credit agreements for consumers relating to residential immovable property, will apply.
* *Action Required:* Adhere to the requirements and provisions of Directive 2014/17/EU as implemented in national laws.
Key Entities Referenced
European Union: A political and economic union of member states located primarily in Europe.
EEA Joint Committee: The joint committee responsible for amending the EEA Agreement.
EEA Agreement: The Agreement on the European Economic Area, governing trade and economic relations between the EU member states and certain other countries.
Annex IX Financial services: One of the annexes to the EEA Agreement, specifically addressing financial services regulations.
Annex XIX Consumer protection: One of the annexes to the EEA Agreement, specifically addressing consumer protection regulations.
Directive 2014/17/EU: Directive of the European Parliament and of the Council on credit agreements for consumers relating to residential immovable property.
European Parliament: The parliamentary body of the European Union.
Brussels: The de facto capital city of the European Union, located in Belgium, where the decision was made.
11.3.2019 EN Official Journal of the European Union L 69/43
DECISIONS
COUNCIL DECISION (EU) 2019/380
of 4 March 2019
on the position to be adopted, on behalf of the European Union, within the EEA Joint Committee
concerning the amendment of Annex IX (Financial services) and Annex XIX (Consumer
protection) to the EEA Agreement
(Text with EEA relevance)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 114 in conjunction
with Article 218(9) thereof,
Having regard to Council Regulation (EC) No 2894/94 of 28 November 1994 concerning arrangements for
implementing the Agreement on the European Economic Area (1), and in particular Article 1(3) thereof,
Having regard to the proposal from the European Commission,
Whereas:
(1) The Agreement on the European Economic Area (2) (‘the EEA Agreement’) entered into force on 1 January 1994.
(2) Pursuant to Article 98 of the EEA Agreement, the EEA Joint Committee may decide to amend, inter alia,
Annex IX (Financial services) and Annex XIX (Consumer protection) to that Agreement.
(3) Directive 2014/17/EU of the European Parliament and of the Council (3) is to be incorporated into the EEA
Agreement.
(4) Annexes IX and XIX to the EEA Agreement should therefore be amended accordingly.
(5) The position of the Union within the EEA Joint Committee should therefore be based on the attached draft
decision,
HAS ADOPTED THIS DECISION:
Article 1
The position to be adopted, on behalf of the Union, within the EEA Joint Committee on the proposed amendment of
Annex IX (Financial services) and Annex XIX (Consumer protection) to the EEA Agreement, shall be based on the draft
decision of the EEA Joint Committee attached to this Decision.
Article 2
This Decision shall enter into force on the date of its adoption.
Done at Brussels, 4 March 2019.
For the Council
The President
A. ANTON
(1) OJ L 305, 30.11.1994, p. 6.
(2) OJ L 1, 3.1.1994, p. 3.
(3) Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to
residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (OJ L 60,
28.2.2014, p. 34).L 69/44 EN Official Journal of the European Union 11.3.2019
DRAFT
DECISION OF THE EEA JOINT COMMITTEE No …/2019
of …
amending Annex IX (Financial services) and Annex XIX (Consumer protection) to the EEA
Agreement
THE EEA JOINT COMMITTEE,
Having regard to the Agreement on the European Economic Area (‘the EEA Agreement’), and in particular Article 98
thereof,
Whereas:
(1) Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements
for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU
and Regulation (EU) No 1093/2010 (1), as corrected by OJ L 246, 23.9.2015, p. 11, is to be incorporated into
the EEA Agreement.
(2) Annexes IX and XIX to the EEA Agreement should therefore be amended accordingly,
HAS ADOPTED THIS DECISION:
Article 1
Annex IX to the EEA Agreement shall be amended as follows:
1. The following indent is added in point 31g (Regulation (EU) No 1093/2010 of the European Parliament and of the
Council):
‘— 32014 L 0017: Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014
(OJ L 60, 28.2.2014, p. 34), as corrected by OJ L 246, 23.9.2015, p. 11.’
2. The following point is inserted after point 31i (Regulation (EU) No 1095/2010 of the European Parliament and of
the Council):
‘31j. 32014 L 0017: Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on
credit agreements for consumers relating to residential immovable property and amending Directives
2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (OJ L 60, 28.2.2014, p. 34), as corrected by
OJ L 246, 23.9.2015, p. 11.
The provisions of the Directive shall, for the purposes of this Agreement, be read with the following
adaptations:
(a) Notwithstanding the provisions of Protocol 1 to this Agreement, and unless otherwise provided for in this
Agreement, the terms ‘Member State(s)’ and ‘competent authorities’ shall be understood to include, in
addition to their meaning in the Directive, the EFTA States and their competent authorities, respectively.
(b) In point (b) of Article 5(3), the words ‘or, as the case may be, the EFTA Surveillance Authority’ shall be
inserted after the words ‘the European Supervisory Authority (European Banking Authority) (EBA)’.
(c) In Articles 12(3) and 27(3), as regards the EFTA States, the words ‘20 March 2014’ shall read ‘the date of
entry into force of Decision of the EEA Joint Committee No …/… of … [this decision]’.
(d) In Article 14(5), as regards the EFTA States, the words ‘20 March 2014’ shall read ‘the date of entry into
force of Decision of the EEA Joint Committee No …/… of … [this decision]’ and the words ‘until 21 March
2019’ shall read ‘for five years thereafter’.
(1) OJ L 60, 28.2.2014, p. 34.11.3.2019 EN Official Journal of the European Union L 69/45
(e) In Article 26(2), the following subparagraph is added:
‘Liechtenstein is exempted from the statistical monitoring required by paragraph 2 of Article 26.’
(f) In the fifth subparagraph of paragraph 2, and in point (b) of paragraph 4 of Article 34, the words ‘EBA
may act’ shall be replaced by the words ‘EBA or, as the case may be, the EFTA Surveillance Authority may
act’.
(g) In Article 37, the words ‘EBA may act in accordance with the powers conferred on it by that Article and
any binding decision made by EBA’ shall be replaced by the words ‘EBA or, as the case may be, the EFTA
Surveillance Authority may act in accordance with the powers conferred on it by that Article and any
binding decision made by EBA or, as the case may be, the EFTA Surveillance Authority’.
(h) In Article 43, as regards the EFTA States, the words ‘21 March 2016’ and ‘20 March 2014’ shall read ‘the
date of entry into force of Decision of the EEA Joint Committee No …/… of … [this decision]’ and the
words ‘21 March 2017’ shall read ‘one year after the date of entry into force of Decision of the EEA Joint
Committee No …/… of … [this decision]’.’
Article 2
The following indent is added in point 7h (Directive 2008/48/EC of the European Parliament and of the Council) of
Annex XIX to the EEA Agreement:
‘— 32014 L 0017: Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014
(OJ L 60, 28.2.2014, p. 34), as corrected by OJ L 246, 23.9.2015, p. 11.’
Article 3
The text of Directive 2014/17/EU, as corrected by OJ L 246, 23.9.2015, p. 11, in the Icelandic and Norwegian
languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.
Article 4
This Decision shall enter into force on […], provided that all the notifications under Article 103(1) of the EEA
Agreement have been made (*).
Article 5
This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European
Union.
Done at Brussels,
For the EEA Joint Committee
The President The Secretaries to the EEA Joint Committee
(*) [No constitutional requirements indicated.] [Constitutional requirements indicated.]