The EC requests Romania to remove restrictions on the installation of LPG filling stations, asks for implementation of Settlement Finality new rules

6

The Commission decided on Thursday to send a reasoned opinion to Romania requesting it to take action that would allow the installation of LPG filling stations for motor vehicles and domestic gas cylinders. Currently, Romanian law imposes requirements for the installation of new LPG stations, including those lawfully manufactured and marketed in another Member State, a release from the European Commission reads.

Romania has also failed to adopt the technical regulations and rules on fire safety certificates required to install new LPG stations. The Commission is sending the reasoned opinion on the grounds that this situation de facto prohibits the creation and cross-border selling of LPG filling stations which runs against the Treaty provisions on free movement of goods (Articles 34-36). Romania now has two months to notify the Commission of measures taken to remedy the situation. Otherwise, the Commission may decide to refer Romania to the Court of Justice of the EU, the release concludes.

Romania and Spain asked to implement new rules on Settlement Finality

In the wake of the financial crisis, rules on the central clearing of derivatives were introduced in 2012 as part of global efforts to mitigate systemic risks to financial stability. To that end, the EU also amended its financial rules to further minimise risks linked to the insolvency of transaction participants set out in the Settlement Finality Directive (Directive 98/26/EC), a release from the European Commission reads.

Specifically, the amended (in the Regulation (EU) No 648/2012) Settlement Finality Directive protected system operators that provided collateral security to another system operator and was to promote financial stability of the financial markets, further facilitating cross-border business and competiveness. Romania and Spain have not notified the Commission of the measures they are taking to apply this specific amendment although these rules should have been implemented by all Member States by 17 August 2014. Having missed this original deadline, letters of formal notice were sent to Romania and Spain in September 2016. This is why the Commission is issuing now reasoned opinions to Romania and Spain, requesting them to bring their legislation in line with EU law. If they fail to act within two months, the case may be referred to the Court of Justice of the EU, the release reads.

 

- Advertisement -

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More