-At the presentation of his report, von Wogau stressed that the Parliament does not want to delay or block the process of the Financial Services Action Plan. He concentrated on three main topics:
The Parliament demands 'equivalent' rights to the Council, stressing that this need not be the same rights.
It also demands an interim solution on the so-called ‘sunset clause’ in the form of a declaration in plenary before the adoption of the first legislative text that lays down the procedure up to 2004 and a revision of the Treaty in 2004.
Parliament also demands an extension of the ‘4-week clause’ to at least 3 months.
In his report von Wogau takes a view on the ‘sunset clause’ that the legislator must be able to revise the scope of the powers conferred on the Commission by limiting it in time and suspending the ‘four-year-clause’. Instead, Parliament and Council ‘may renew the provisions concerned by means of a joint decision and, to that end, they shall review them prior to the expiry of the period referred to above'.
The report should be adopted in Parliament in February 2002.
See full draft report and the related working document
A draft opinion of the Legal Affairs Committee by Ms Hautala states “it is difficult from a legal point of view to 'expand' the rights and guarantees given to the EP by the Council Decision and the Treaty. To seek to modify the Council Decision on Comitology by amending a basic instrument is very likely to be regarded as being contrary to Article 202, third indent of the Treaty.”
The report also points out the different choices the Parliament has, namely:
rejecting the proposed Directive or the part of it that refers to comitology;
better definition or clarification of the limited powers of execution by imposing criteria, conditions, etc.
negotiating enhanced scrutiny mechanisms with the Commission
See full draft opinion
See also a second draft opinion from Pervenche Berès of the EMAC Committee will be published on Tuesday.
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