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Article 1 - Decision 2001/527/EC is amended as follows:

Article 1
Decision 2001/527/EC is amended as follows:

1.Article 2 is replaced by the following: "Article 2 The role of the Committee shall be to advise the Commission, either at the Commission's request, within a time limit which the Commission may lay down according to the urgency of the matter, or on the Committee's own initiative, in particular for the preparation of draft implementing measures in the field of securities, including those relating to undertakings for collective investment in transferable securities (UCITS)."

2.In Article 3, the first sentence of the first paragraph is replaced by the following:"The Committee shall be composed of high-level representatives from the national public authorities competent in the field of securities, including UCITS."

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