(a)in paragraph 9, the second sentence shall be replaced by the following:‘Every two years the Commission shall issue a report on such cases.’;
(b)in paragraph 10, the second sentence shall be replaced by the following:‘Every two years the Commission shall issue a report on such cases.’;
2.in Article 14(6), the second subparagraph shall be deleted;
3.in Article 21(4), the third sentence shall be replaced by the following:‘Such information shall be the subject of exchanges of views within the European Securities Committee.’;
4.in the third subparagraph of Article 22(4), the fourth sentence shall be replaced by the following:‘Such communications may be the subject of exchanges of views within the European Securities Committee.’;
5.the title of Section X shall be replaced by the following:‘European Securities Committee’;
6.Article 53 shall be deleted;
7.Article 53a shall be replaced by the following:‘Article 53aThe technical amendments to be made to this Directive in the following areas shall be adopted in accordance with the procedure referred to in Article 53b(2):
(a)clarification of the definitions in order to ensure uniform application of this Directive throughout the Community;
(b)alignment of terminology and the framing of definitions in accordance with subsequent acts on UCITS and related matters.’;
8.the following Article shall be inserted:‘Article 53b1.The Commission shall be assisted by the European Securities Committee instituted by Commission Decision 2001/528/ECnote, hereinafter “the Committee”.2.Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/ECnote shall apply, having regard to the provisions of Article 8 thereof.The period laid down in Article 5(6) of Decision 1999/468/EC shall be set at three months.3.The Committee shall adopt its rules of procedure.