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New version applies from 01/07/2011 — introduced by Directive 2006/48/EC (CRD), Undertakings for Collective Investment in Transferable Securities Directive (UCITS). 15 provisions change. Article 12 changes in this version: compare with the current text.

Article 12 - Implementing measures

Article 12
Implementing measures

1. The implementing measures adopted in accordance with the procedure referred to in Articles 5 and 7 of Decision 1999/468/EC having regard to the provisions of Article 8 thereof must not modify the essential provisions of the Directives.

2. The period laid down in Article 5(6) of Decision 1999/468/EC shall be set at three months.

3. Should the conditions established under the Treaty governing the exercise of implementing powers conferred on the Commission be modified, the Commission shall review this Directive and, if appropriate, propose amendments. Such a review shall in any case be carried out by 31 December 2007 at the latest.

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