Legal provisions of COM(2017)165 - Signing and provisional application of the Bilateral Agreement with the USA on prudential measures regarding insurance and reinsurance

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dossier COM(2017)165 - Signing and provisional application of the Bilateral Agreement with the USA on prudential measures regarding insurance and ...
document COM(2017)165 EN
date May 29, 2017

Contents

Article 1

The signing on behalf of the Union of the Bilateral Agreement between the European Union and the United States of America on prudential measures regarding insurance and reinsurance is hereby authorised, subject to the conclusion of the said Agreement.

The text of the Agreement is attached to this Decision.

Article 2

The President of the Council is hereby authorised to designate the person(s) empowered to sign the Agreement on behalf of the Union.

Article 3

Articles 4 and 7 of the Agreement shall be applied on a provisional basis in accordance with Articles 9 and 10 of the Agreement (1), pending the completion of the procedures necessary for the conclusion of the Agreement.

Article 4

The Commission shall represent the Union within the Joint Committee provided for in Article 7 of the Agreement, after having heard the views of the Council working party on financial services, and shall inform that working party, whenever appropriate and at least on a yearly basis, of the progress made in the implementation of the Agreement.

Article 5

Any positions to be expressed on behalf of the Union shall be adopted in accordance with the Treaties and thus by the Council as provided in Article 16(1) of the Treaty on European Union or Article 218(9) of the Treaty on the Functioning of the European Union.

Article 6

This Decision shall enter into force on the date of its adoption.