Examples of First Directive in a sentence
First, Directive 2003/55/EC introduced general monitoring obligations for the Member States.
Consequently, the 1998 Dutch Electricity Act went already much further than the First Directive demanded; in fact, most of therequirements of the second Electricity Directive (2003/54/EC), to be implemented by July 2004, were already met by that Act.On August 1, 1998, the same day on which the first articles of that Act became operational, SEP, the owner of the national grid, established TenneT as independent operator for that grid.
Each country will require a different set of data to meet this general requirement in the First Directive.
Article 2 of the First Directive sets forth a minimum set of information that an enterprise should provide to the registry and the circumstances and time period in which the information must be updated.
Privacy laws related to personal data are generally not applicable to entities registering with a business enterprise registry.46 However, Article 2.1(d) of the First Directive requires information regarding the managers and directors of the enterprise to be made available to the public.
For the insurance industry, the movement toward this freedom began when the First Directive for Non-life Insurance passed on July 24, 1973 and the First Directive for Life Insurance passed on March 5, 1979.
This fact was already recognised in the framework of the 2003 revision of the First Directive.
The First Directive established minimum requirements for authorizing credit institutions; it introduced (but did not implement) the concept of ‘national treatment’ by which a foreign branch would be subject to the banking restrictions of its home country rather than the host country; it forbade host countries from denying entry of a foreign bank on the basis of ‘economic need’; and it began the process of unifying prudential regulations across the Member States.
Indeed, the resource related to the ultra vires principle in this legislation is the First Directive of the EEC concerning companies 68/151.8 These directives en- vision the removal of the ultra vires rule from the laws of the member states.9 In the directive, it is intended to protect third parties who deal with the company’s representatives and trust that these transactions would bind the company.
One of the most important elements, or possibly the dominant element of EC corporate law, is its extensive regime of disclosure.97 The First Directive provides for the disclosure of a variety of corporate data, but most of all about the corporation’s annual accounts and consolidated accounts.98 The preambles to both the Fourth Directive and the Seventh Directive99 refer to the interests of third parties (obviously including creditors) to justify mandatory disclosure of accounting informa- tion.