Legal provisions of COM(2006)918 - Amendment of Regulation (EC) No 1606/2002 on the application of international accounting standards as regards the implementing powers conferred on the Commission

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dossier COM(2006)918 - Amendment of Regulation (EC) No 1606/2002 on the application of international accounting standards as regards the ...
document COM(2006)918 EN
date March 11, 2008


Article 1

Amendments

Regulation (EC) No 1606/2002 is hereby amended as follows:

1.Article 3(1) shall be replaced by the following:

‘1.   The Commission shall decide on the applicability within the Community of international accounting standards. Those measures, designed to amend non-essential elements of this Regulation by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 6(2).’;

2.Article 6 shall be amended as follows:

(a)paragraph 2 shall be replaced by the following:

‘2.   Where reference is made to this paragraph, Article 5a(1) to (4) and Article 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof.’;

(b)paragraph 3 shall be deleted.

Article 2

Entry into force

This Regulation shall enter into force on the day following its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.