Protocol concerning the conditions and arrangements for admission of the Republic of Bulgaria and Romania to the European Union - Annex VI:List referred to in Article 20 of the Protocol: transitional measures, Bulgaria - 2.Freedom to provide services


Published: 2005-04-25

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2. FREEDOM TO PROVIDE SERVICES
31997 L 0009: Directive 97/9/EC of the European Parliament and of the Council of 3 March 1997 on investor-compensation schemes (OJ L 84, 26.3.1997, p. 22).
By way of derogation from Article 4(1) of Directive 97/9/EC, the minimum level of compensation shall not apply in Bulgaria until 31 December 2009. Bulgaria shall ensure that its investor–compensation scheme provides for cover of not less than EUR 12000 from 1 January 2007 until 31 December 2007 and of not less than EUR 15000 from 1 January 2008 until 31 December 2009.
During the transitional period the other Member States will retain the right to prevent a branch of a Bulgarian investment firm established on their territories from operating unless and until such a branch has joined an officially recognised investor-compensation scheme within the territory of the Member State concerned in order to cover the difference between the Bulgarian level of compensation and the minimum level referred to in Article 4(1) of Directive 97/9/EC.
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