(68)It is appropriate to set a time limit for the application of this Regulation in order to ensure that the Authority is adequately prepared to begin operations and a smooth transition from the Committee of European Insurance and Occupational Pensions Supervisors. The Authority should be appropriately financed. At least initially, it should be financed 40 % from Union funds and 60 % through contributions from Member States, made in accordance with the weighting of votes set out in Article 3(3) of the Protocol (No 36) on transitional provisions.
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New version applies from 23/05/2014 — introduced by Directive 2014/51/EU.
137 provisions change.
Later versions: 01/01/2020, 01/07/2025, 10/11/2025.
Recital 68 changes in this version: compare with the current text.