Council Directive 96/13/EC of 11 March 1996 amending Article 2 (2) of Directive 77/780/EEC in respect of the list of permanent exclusions of certain credit institutions

• Published date: 16 March 1996
• Subject Matter: Approximation of laws,Internal market - Principles,Freedom of establishment
• Official Gazette Publication: Official Journal of the European Communities, L 66, 16 March 1996

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Council Directive 96/13/EC of 11 March 1996 amending Article 2 (2) of Directive 77/780/EEC in respect of the list of permanent exclusions of certain credit institutions

Official Journal L 066 , 16/03/1996 P. 0015 - 0016

COUNCIL DIRECTIVE 96/13/EC of 11 March 1996 amending Article 2 (2) of Directive 77/780/EEC in respect of the list of permanent exclusions of certain credit institutions

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community,

Having regard to the First Council Directive (77/780/EEC) of 12 December 1977 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (1), and in particular Article 2 (2) and (3) thereof,

Having regard to the proposal from the Commission,

Whereas Article 2 (2) of Directive 77/780/EEC provides that specific credit institutions of some Member States are permanently excluded from the scope of that Directive;

Whereas Article 2 (3) of that Directive provides that the Council, acting on a proposal from the Commission, which, for this purpose, must consult the Banking Advisory Committee, is to decide on any amendments to the list in paragraph 2; whereas certain Member States have asked for the list to be revised;

Whereas adoption of this Directive constitutes the most appropriate means of attaining the desired objectives; whereas this Directive is limited to the minimum necessary to attain these objectives and does not go beyond what is needed for this purpose;

Whereas this Directive concerns the European Economic Area (EEA) and whereas the procedure under Article 99 of the Agreement on the European Economic Area has been complied with;

Whereas adoption of this Directive has been the subject of consultations with the Banking Advisory Committee,

HAS ADOPTED THIS DIRECTIVE:

Article 1

Article 2 (2) of Directive 77/780/EEC shall be replaced by the following:

'2. It shall not apply to:

- the central banks of Member States,

- post office giro institutions,

- in Belgium, the "Institut de Réescompte et de Garantie/Herdiscontering- en Waarborginstituut",

- in Denmark, the "Dansk Eksportfinansieringsfond", the "Danmarks Skibskreditfond" and the "Dansk Landbrugs Realkreditfond",

- in Germany, the "Kreditanstalt für Wiederaufbau", undertakings which are recognized under the...