JOHN CARLOS I

KING OF SPAIN

To all who present it and understand,

Sabed: That the General Courts have approved and I come to sanction the following law.

PREAMBLE

Directive 2009 /44/EC of the European Parliament and of the Council of 6 May 2009 amending Directive 98 /26/EC on the finality of settlement in payment and securities settlement systems and the Directive 2002 /47/EC on financial collateral arrangements, with regard to connected systems and credit rights, updates these two directives in order to adapt them to the recent development of financial markets.

As explained in the exhibition part of Directive 2009 /44/EC, one of the main changes since the drafting of Directive 98 /26/EC, is the growth of connections between payment and settlement systems. values. It is therefore necessary to provide for the so-called interoperable systems to lay down common rules on the timing of orders and which are coordinated in order to eliminate any legal uncertainty in the event of a failure of one of its participants.

On the other hand, the Community legal framework for the cross-border use of financial guarantees should be extended and strengthened. Given that the European Central Bank has since 1 January 2007 admitted credit claims as eligible collateral in the Eurosystem ' s credit operations, nothing should prevent a more general use of credit claims in the field of credit. financial.

By this Law the transposition of Directive 2009 /44/EC is carried out. Thus, the article first amends Law 41/1999 of 12 November on payment systems and securities settlement to give recognition to the so-called interoperable systems and to extend the rules on the firmness of settlement transfer orders to be cured through such systems.

On the other hand, Article 2 amends Royal Decree-Law 5/2005 of 11 March 2005 on urgent reforms to boost productivity and improve public procurement to include credit claims as part of the the guarantees that may be used in the field of financial transactions. In addition, a revision of the text is carried out to correct and clarify other aspects not related to the transposition of the directive, thus solving some problems of legal uncertainty.

Likewise, the Second Final Disposition amends Law 22/2007, of July 11, of distance marketing of financial services intended for consumers.

Finally, it should be noted that the entry into force of the standard is postponed until 1 July 2011, in compliance with the provisions of Article 3 of Directive 2009 /44/EC, except as regards the final provisions second and fourth, which shall enter into force on the day following that of their publication in the Official Gazette of the State.

Article first. Amendment of Law 41/1999 of 12 November on payment systems and securities settlement.

Law 41/1999 of 12 November on payment and securities settlement systems is amended as follows:

One. -Article 2 is worded as follows:

" This Law will apply to:

(a) Payment and clearing systems and securities settlement (hereinafter 'systems'), with the understanding of 'securities' means the financial instruments referred to in Article 2 of the Law 24/1988 of 28 July 1988 on the Values.

(b) Monetary policy operations executed by the central banks of the Member States or by the European Central Bank as central banks, or associated with the settlement of a system.

(c) The participants in a system and the contractors of the operations referred to in point (b).

For these purposes, participants shall be understood to be credit institutions as defined in Article 4 (1) (a) of Directive 2006 /48/EC and investment firms as defined in the definition under heading 1 of the Article 4 (1) of Directive 2004 /39/EC, authorised to operate in the European Economic Area, the Public Treasury and the equivalent bodies of the Autonomous Communities, and the public sector entities listed in the Article 3 of Regulation (EC) No 3603/93 of 13 December 1993 laying down definitions for the application of the prohibitions referred to in Article 104 and Article 104b (1) of the Treaty and any undertaking whose main administration is finds outside the European Union and whose functions correspond to those of credit institutions or investment firms of the European Union, which are accepted as members of the system, in accordance with the regulatory rules of the system and are responsible for taking on financial obligations arising from its operation.

The European Central Bank, the Banco de España and the other Central Banks of the Member States of the European Union, as well as the international financial organizations of which the European Central Bank is a member of the European Central Bank, will also be participants. Spain is a member.

They may also be participants in a system, provided they are accepted by the system according to its regulatory standards:

1. Other Systems Manager. The entity or entities legally responsible for the operation of the system are considered to be the manager of a system. The manager of a system may also act as a settlement agent, a central counterparty or a clearing house, as defined below.

2. Other Systems Settlement Agent. This agent shall be a Central Bank or other body or entity which provides to the participants in the system accounts in which the transfer orders accepted by that system are settled or used for the deposit of funds. of values.

3. Central Counterparty. An entity that is interposed between the participants in a system that exercises its exclusive counterpart in relation to its transfer orders; and

4. Chamber of compensation. Organization responsible for calculating the net positions of participants in a system.

You will have the status of indirect participant that entity, central counterparty, settlement agent, clearing house or system manager having a contractual relationship with a participant under which the You can first cursing transfer orders through the system, as long as the system manager knows the indirect participant.

The existence of an indirect participant shall not limit the liability of the participant through which the participant transmits the transfer orders to the system.

(d) the guarantees which are constituted in the framework of a system and of the operations referred to in point (b)

For these purposes, any realisable asset, including money, which has been the subject of a deposit, pledge, security or withholding right, the financial guarantees referred to in Article 7 of the Royal, shall be understood as collateral. Decree-law 5/2005 of 11 March 2005, purchases with repurchase agreements, or any other legal business that is intended to guarantee the rights and obligations that may arise in connection with a system, or contributed to the central banks of the Member States or the European Central Bank. "

Two. Article 3 (b) is worded as follows:

" (b) Having the participation of at least three entities which are credit institutions or investment firms, as defined in Article 4 (1) of Directive 2006 /48/EC respectively; of the European Parliament and of the Council of 14 June 2006 on the taking up and pursuit of the business of credit institutions, including the entities listed in Article 2 of that Directive, and Article 1 (1) of that Directive Article 4 of Directive 2004 /39/EC of the European Parliament and of the Council of 21 April 2004 on the markets for financial instruments, excluding the entities listed in Article 2 (1) of that Directive, as well as the system manager, a possible settlement agent, a possible central counterparty, a possible (a) a clearing house or a possible indirect participant, provided that they are Spanish entities or authorised to operate in Spain, and, in addition, at least one of them has its central administration in Spain. "

Three. -Two new paragraphs are added at the end of Article 3 with the following wording:

" For the purposes of this Act, two or more systems whose managers have concluded an agreement involving the intersystem execution of the transfer orders are considered to be interoperable systems.

Agreements between interoperable systems will not constitute a system. "

Four.-Article 5 is worded as follows:

" Article 5. Discipline regime.

The systems recognised in accordance with Article 4 shall be subject, as the Bank of Spain or the National Securities Market Commission is the authority responsible for the supervision of its managing body, to the intervention and sanctioning established in Law 26/1988, of July 29, of Discipline and Intervention of the Credit Entities, or to that established in Law 24/1988, of July 28, of the Market of Securities, without prejudice to the competences of supervision, inspection and sanction corresponding to the Autonomous Communities in relation to the systems clearing and settlement of securities created in official secondary markets of the autonomous region or in markets or trading systems of the same scope that do not have such a condition ".

Five. -Article 10 is worded as follows:

" Article 10. Transfer orders.

For the purposes of this Act, you will have the transfer order consideration:

(a) any instruction by a participant to make a quantity of money available to a recipient in the accounts of a credit institution, a central bank, a central counterparty, or an agent of a credit institution. settlement, or any instruction resulting in the assumption or cancellation of a payment obligation as defined in the system rules; or,

(b) an instruction of a participant to transmit the property or any other right corresponding to one or more securities by means of an annotation on a record or otherwise to credit the transmission, understanding by securities the financial instruments referred to in Article 2 of Law 24/1988 of 28 July of the Stock Market. '

Six. The second subparagraph of Article 11 (1) is amended as follows:

" The orders referred to in the preceding paragraph, the compensation which, where appropriate, takes place between them, the obligations resulting from such compensation, and those which are intended to liquidate any other commitments provided by the system to ensure the good end of the accepted transfer orders or of the compensation made, shall be firm, binding and legally enforceable for the participant obliged to comply with and oppose third parties, may be challenged or nullified by any cause. "

Seven. -One last paragraph is added to Article 11 (1) with this wording:

" Each system shall determine in its own rules the time of irrevocability and firmness of the transfer orders, and in the case of interoperable systems, the rules of each of them shall ensure, as far as possible coordination with the rules of the other affected systems as regards the determination of such moments. However, unless the rules of all interoperable systems are expressly laid down by each other, the rules of each of them relating to the time of the irrevocability and the firmness shall not be affected by the rules of the others. '

Eight. Article 12 is worded as follows:

" Article 12. Insolvency proceedings.

For the purposes of this Law, it is considered insolvency proceedings, as well as any measure of a universal nature, provided for by Spanish or other State legislation, for the liquidation of an entity or for its reorganization, which seeks to have the suspension of the transfer orders, or of the payments that the participant may or must make, or the imposition of limitations on them. "

Nine. -Article 13 is worded as follows:

" Article 13. Effects on transfer orders and compensation.

In addition to the provisions of Article 11, the opening of a procedure for the insolvency of a participant in a system, including interoperable, or a system operator, will not have an effect on rights and obligations of such participant or of such manager:

(a) arising from the transfer orders received and accepted by the system prior to the time when the said opening was communicated to the system or which, exceptionally, had been submitted after the the opening of the insolvency proceedings and the clearing or settlement of the insolvency proceedings on the same business day, provided that the system operators or an interoperable system which is not a participant can prove that, at the time when such orders became They have not been informed and should not have had the opportunity to initiate the procedure.

(b) resulting from the compensation which, where appropriate, is carried out between those orders on the same business day on which the communication was received.

(c) The purpose of which is to liquidate on that business day any other commitments provided by the system to ensure the good end of the accepted transfer orders or the compensation made.

These obligations shall be settled, in accordance with the rules of the system, from the funds or securities available in the settlement account of that participant to meet the obligations of the participant in the system, including interoperable, as well as with guarantees and other assets and commitments established for these purposes by the same.

For the purposes set out in this Article, the working days shall be delimited for each system by its own rules, and shall cover the settlements carried out both in the daytime and in the night, as well as all events that occur during the activity cycle of each system. "

Ten. -Article 14 (1) and (2) are worded as follows:

" 1. The rights of a system manager or a participant in respect of guarantees formed in his favour in a system or in any interoperable system shall not be affected, having an absolute right of separation, by means of insolvency opened against:

a) the participant in the system in question or in an interoperable system,

b) a system manager of an interoperable system that is not a participant,

(c) a counterparty of the central banks of the Member States or of the European Central Bank

or

(d) any third party that has constituted the guarantees.

Such guarantees may be executed to satisfy the above rights.

2. This separation right shall also assist the Banco de España in respect of guarantees provided in its favour by any entity which is its counterpart or guarantor in monetary policy operations, or associated with the liquidation of the systems, even interoperable. "

Once. -Article 14 (4) is worded as follows:

" 4. In particular, neither the constitution or acceptance of the guarantees referred to in the preceding paragraphs, nor the balance of the accounts or records in which they are materialized, shall be impugable by the reasons for reintegration provided for in Law 22/2003, 9 July, Bankruptcy. The guarantees shall also not be subject to vindication in the terms provided for in Article 324 of the Trade Code for the securities. "

Twelve.-Article 15 (2) is worded as follows:

" 2. The Spanish legislation will be applicable, as regards its actual legal effects, to the legally registered guarantees in a register based in Spain in favour of a Spanish or foreign system, its participants, its manager or the Banco de España, of the European Central Bank or other Central Banks of the Member States of the European Union, linked to their monetary policy operations or associated with the liquidation of those systems.

The securities legally incorporated and registered in a register based in another Member State in favour of a Spanish system, its participants, its manager or the Banco de España linked to monetary policy operations or associated with the settlement of the systems, shall be governed by the law of the relevant Member State, as far as their actual legal effects are concerned. '

Thirteen. Article 16 (1) (a) is worded as follows:

"(a) In accordance with Spanish law, order declaration of the contest, or."

Article 2. Amendment of Royal Decree-Law 5/2005 of 11 March 2005 on urgent reforms to boost productivity and improve public procurement.

Royal Decree-Law 5/2005 of 11 March 2005 on urgent reforms to boost productivity and improve public procurement is amended as follows:

One. -One last paragraph is added to the second article, with the following wording:

"The provisions of this Chapter shall be without prejudice to the rules applicable to consumer credit."

Two.-Article 4 (1) (c) is worded as follows:

" (c) Credit institutions; investment firms; insurance institutions; institutions for collective investment in transferable securities and their management companies; mortgage-backed securities; asset-securitisation funds and the management companies of securitisation funds; pension funds and other financial institutions as defined in Article 4 (5) of Directive 2006/48 of the European Parliament and of the Council; of 14 June 2006 on access to the business of credit institutions and their exercise. "

Three.-Article 5 (2) (c) is worded as follows:

" (c) Financial transactions carried out on financial instruments as provided for in the second-to-eighth paragraphs of Article 2 of Law 24/1988 of 28 July of the Securities Market, including the purchase of In the case of cash, derivative instruments on all types of raw materials, including precious metals, and derivative instruments on the allowances regulated in Law 1/2005 of 9 March, governing the scheme of the trade in greenhouse gas emission allowances, as well as any combination of the above; either liquidable by difference or by physical delivery of the underlying. "

Four.-Paragraph 1 and the first subparagraph of Article 6 (2) are worded as follows:

" 1. Financial collateral operations may be carried out by means of the transfer of ownership of the credit or credit claim given as collateral or by the payment of the right or right.

2. A financial collateral arrangement with a change of ownership is the one by which the guarantor transmits the full ownership of a good or right subject to a financial guarantee to a beneficiary for the purpose of ensuring or giving other cover to the main financial obligations. '

Five. -Article 6 (3) is worded as follows:

" 3. For the purposes of this Law, a guarantee agreement shall be understood to mean that by virtue of which the guarantor provides a financial guarantee in the form of a legal title to a beneficiary or in his favour, retaining the ownership of the right or property of credit object of guarantee. "

Six.-A new point (c) is added to the seventh article with the following wording:

" (c) Credit rights, in the understanding of such pecuniary rights arising from an arrangement under which a credit institution grants a credit in the form of a loan or credit agreement.

However, the credit rights in which the debtor is a consumer, a small business or a micro-enterprise, as defined in the rules in force, may not be the subject of a financial guarantee, except where the the beneficiary or the provider of the guarantee is one of the entities listed in Article 4 (1) (b) of this Royal Decree-Law. '

Seven. -The eighth article is worded as follows:

" Article Eighth. Formalities.

1. The financial collateral arrangements provided for in this Chapter must be entered in writing or in a legally equivalent manner, without any other formality being required for their constitution, validity, effectiveness vis-à-vis third parties, enforceability or eligibility as a test.

2. In addition to the agreement referred to in the previous paragraph, the lodging of the right of guarantee shall require the contribution of the asset covered by the guarantee and a record or legally equivalent form. For these purposes:

(a) A security shall be deemed to have been validly provided where the object of the security has been delivered, transmitted, registered or otherwise accredited in such a way as to be in power or under control of the beneficiary or the person acting on his behalf. The rights to replace or withdraw the surplus from financial collateral in favour of the guarantor or, in the case of credit claims, the rights of the product's perception of the product until further notice shall be without prejudice to the financial security which has been provided to the beneficiary in accordance with the provisions of this Article. In the case of securities represented by means of account, it shall be understood that the security has been constituted and contributed from the entry in the accounting record of the new ownership or of the collateral.

(b) The written record of the contribution of the financial guarantee shall permit the identification of its object. To this end, it is sufficient to prove that the purpose of the financial guarantee, represented by annotation, has been paid or constitutes a credit in the account referred to in Article 17 (1) and that, in the event of the object of the security is provided in cash, the guarantee has been paid or constitutes a credit in the account designated for that purpose.

As far as credit rights are concerned, their inclusion in a list of claims submitted to the beneficiary of the guarantee in writing or in a legally equivalent manner shall be sufficient to identify the right of credit and to demonstrate the contribution of this credit as a financial guarantee between the parties and against the debtor or third parties.

However, the debtor who pays before being notified of the contribution of the credit claim under guarantee will be released.

3. The registration or annotation by electronic means and on any durable medium shall be legally equivalent to the written record.

4. The lodging of guarantees for the benefit of the entities referred to in Article 4 (1) (d) may be effected by unilateral manifestation of the person appearing as the holder of the subject-matter of the guarantee in the accounting register, in such a way as to determine their rules of organisation and discipline, and without such rules being able to result in the need for a formal act that conditions the constitution, validity or effectiveness of the guarantee.

5. The debtor of the credit rights may validly resign, in writing or by any other means legally equivalent to:

(a) their rights of compensation vis-à-vis the creditor and against persons in favour of whom the creditor has transferred, pledged or otherwise mobilised the right of credit as a guarantee, and

(b) rights under the banking secrecy rules and which otherwise prevent the creditor from providing information on the debtor or restrict his ability to do so, in order to use the right of the creditor credit as collateral. "

Eight. -Paragraphs 1, 3 and 5 of the ninth article are worded as follows:

Article 9 (1), which is worded as follows:

" 1. Where the financial collateral arrangement provides for and in the terms that it establishes, the guarantor may exercise, not later than the date of fulfilment of the principal financial obligations covered by the guarantee agreement, a right of substitution of the object of that, consisting in being able to make use of the object of such financial guarantee, against the simultaneous contribution of an object that substantially has the same value to replace the initial one. "

Article 9 (3) is worded as follows:

" 3. For the purposes of the preceding paragraph, it is considered as the object of equivalent value:

When the object consists of cash, the payment of an identical amount and in the same currency.

When the object consists of marketable securities or other financial instruments: the contribution of other marketable securities or other financial instruments of the same issuer or debtor, which are part of the same or class and of the same nominal amount, currency and description; or the contribution of other assets where there has been a fact affecting marketable securities or other financial instruments initially provided, if such a possibility is provided for in the warranty agreement. "

A paragraph 5 is added to the ninth article, with the following wording:

" 5. The provisions of this Article shall not apply in respect of the right of provision where the purpose of the guarantee is a right of credit, or the right to replace it in the case of a right of credit. infuse. "

Nine. -Article 10 is worded as follows:

" Article 10. Additional guarantees.

The parties may agree that, in the event of changes in the price of the guarantee or the amount of the principal financial obligations initially agreed, they shall be provided and, where appropriate, and when agreed upon, to be returned, new securities or cash, to restore the balance between the value of the guaranteed obligation and the value of the securities lodged to secure it. In such a case, such securities or cash shall be treated as an integral part of the initial guarantee and shall be treated as if they were simultaneously contributed to the contribution of the initial object of the financial guarantee. '

Ten. -Paragraphs 1, 3 and 4 of Article 11 are amended as follows:

The first subparagraph of paragraph 1 is worded as follows:

" 1. A breach of obligations or any act agreed between the parties which, in the event of a result, allows the collateral beneficiary under the guarantee or law agreement to be carried out or appropriate, is considered to be of course of execution. the purpose of such a guarantee; or which produces the application of a clearing settlement clause due in advance if such a clause is provided for by the guarantee agreement. '

A point (c) is added to Article 11 (2) with the following wording:

"(c) If this is a credit claim, by way of sale or appropriation and by way of compensation of its value or application to the fulfilment of the principal financial obligations."

Article 11 (3) is worded as follows:

" 3. Appropriation will be possible when:

a) The parties to the financial collateral arrangement have been provided for, and

(b) The parties have provided for the arrangements for the valuation of marketable securities or other financial instruments and credit claims in the guarantee agreement.

The execution of a guarantee shall be made in accordance with the provisions of the corresponding financial collateral arrangement, without, however, the conditions agreed in the financial collateral arrangement, may be subject to any the requirement for prior notification, or for approval by a court, a public official or other person, or to be effected by public auction or otherwise in a standard manner, or which must be subject to compliance with any additional time. "

Article 11 (4) is worded as follows:

" 4. In the case of the provision of the guarantee covered by Article 9, where an alleged execution occurs while an obligation to provide the equivalent object is pending, that obligation may be extinguished by means of a its inclusion in a clearing settlement clause that is due in advance. "

Once. -Article 11 (5) is deleted.

Twelve.-Article 15 (5) is worded as follows:

" 5. Agreements on financial guarantees or the provision of financial guarantees, formalised or provided, prior to the opening of a bankruptcy or administrative settlement procedure may be terminated or contested only in accordance with the provisions of the Article 71 of Law 22/2003, of July 9, Bankruptcy, by the insolvency administration, which will have to prove that they have been made in fraud of creditors. "

Thirteen. -The 16th article is worded as follows:

" Article 16. Early settlement.

1. The statement of the anticipated maturity, resolution, termination, execution or equivalent effect of the contractual netting agreement or of the financial transactions carried out in or in connection with the contract may not be limited, restricted or affected in any way by the opening of a bankruptcy or administrative settlement procedure. In the case of the exercise of the action to resolve the compensation provided for in Article 61.2 of Law 22/2003 of 9 July, the insolvency proceedings shall be calculated in accordance with the rules laid down in that agreement.

2. In cases where one of the parties to the contractual netting agreement is in one of the situations referred to in the preceding paragraph, the amount shall be included as credit or debt incurred by the party in such situations only net of the operation or financial operations covered by the agreement, calculated in accordance with the rules laid down in the agreement.

In the event of a contest, as long as the contractual compensation agreement is maintained, the provisions of the first paragraph of Article 61.2 of Law 22/2003, of July 9, Bankruptcy, shall apply. In accordance with Article 62.4 of the said law, if the agreement is settled after the declaration of competition and the case or the failure to comply with the prior agreement is alleged to be a cause of resolution statement, the net amount calculated in accordance with the rules laid down in the contractual netting agreement shall be included in the tender as a bankruptcy credit. If the agreement is settled after the declaration of competition and shall be alleged as a reason for any other non-compliance with the post referred to in that declaration, the net amount calculated in accordance with the rules laid down in the Contractual compensation agreement shall be met by the mass.

3. The financial operations or the compensation agreement that regulates them may not be the subject of the reintegration measures provided for in Article 71 of Law 22/2003, of 9 July, in the case of insolvency, except through action exercised by the administration. Court of law, where the court of law is concerned. '

Fourteen.-A new paragraph 3 is added to Article seventeen with the following wording:

" 3. Where the guarantee object is a credit claim, the law applicable to the effectiveness of the debtor or third party of the assignment or the pledge shall be that which governs the loan given or pledged. "

Additional disposition. System recognition.

Systems recognized prior to the entry into force of this Act will continue to have such recognition.

Transitional disposition. Arrangements for the orders for transfers entered and not settled.

The orders for transfers entered before the entry into force of this Law but subsequently cleared shall apply to them the legal regime provided for in this Act.

Final disposition first. Incorporation of European Union law.

This Law incorporates into Spanish law Directive 2009 /44/EC of the European Parliament and of the Council of 6 May 2009 amending Directive 98 /26/EC on the firmness of settlement in the payments and securities settlement, and Directive 2002/47/EC on financial collateral arrangements, with regard to connected systems and credit rights.

Final disposition second. Amendment of Law 22/2007 of 11 July on the distance marketing of financial services for consumers.

Law 22/2007 of 11 July 2007 on the distance marketing of financial services to consumers is amended as follows:

One.-Article 10 (2) (b), with the following wording:

" b) the following insurance contracts:

1. insurance contracts in which the taker assumes the risk of the investment, as well as the contracts in which the guaranteed return is based on investments assigned to them,

2. travel, luggage or similar insurance of a duration less than one month,

3. º those whose effects end before the deadline referred to in paragraph 1,

4. º that comply with a taker's assurance obligation,

5. the insured forecast plans; "

Two.-Article 14 has the following wording:

" Article 14. Unsolicited communications.

1. Prior consent of the consumer will be required for a supplier to be able to use automatic call systems without human intervention or fax messages as a remote communication technique.

Unrequested communications by telephone, fax or electronic means shall be governed by the provisions of Law 32/2003 of 3 November, General of Telecommunications, and Law 34/2002 of 11 of (a) July, for the services of the information society and electronic commerce, as well as, where appropriate, as provided for in their respective development regulations.

It will only be possible for the supplier of other remote communication techniques to allow an individual communication, other than those mentioned in the previous paragraph, with the prior consent of the consumer.

2. The use of the techniques described in the previous paragraph shall not entail any expenditure for the consumer. "

Final disposition third. Amendment of Article 18 of Law 1/2011 of 4 March establishing the State Operational Safety Programme for Civil Aviation and amending Law 21/2003 of 7 July on Air Safety.

Article 18 (1) of Law 1/2011, of 4 March, establishing the State Operational Safety Program for Civil Aviation and amending Law 21/2003 of 7 July on Air Safety, is amended. it is worded as follows:

" Article 18. The reserved character of the information.

1. Data, records, recordings, statements, communications, indicators and reports provided under the State Operational Safety Programme for Civil Aviation by aeronautical professionals and service providers Aeronautical products to the bodies, bodies, entities and entities of the public sector referred to in the first paragraph of Article 11.3 have a reserved character and may only be used for the purposes specified therein.

The reserve duty in relation to the information obtained in the technical investigation of accidents or incidents in civil aviation shall be governed by the provisions of Regulation (EU) No 996/2010 of the European Parliament and of the European Parliament. Council of 20 October 2010.

In any case, the information referred to in the preceding paragraphs is intended solely for the purpose of strengthening operational security and preventing future accidents and incidents, and not for the purpose of determining blame or responsibilities. "

Final disposition fourth. Measures on commercial distribution.

1. Until the entry into force of the Law on Commercial Distribution Contracts, which will be given in accordance with the provisions of the Additional Disposition, 11th of Law 7/1996, of 15 January, of the Ordination of Retail Trade, the additional provision Sixteenth of Law 2/2011, of 4 March, of Sustainable Economy, amending Law 12/1992, of 27 May, on Contract of Agency, will not be applicable and will not produce legal effects.

2. Within six months, the Government shall approve and forward to the General Courts a draft law on commercial distribution contracts.

3. Until the approval and entry into force of the commercial distribution contract law, the Government will present to the main associations of the automotive sector a code of good practice, in which the constitution of a committee of conflict monitoring and resolution.

Final disposition fifth. Entry into force.

This law shall enter into force on 1 July 2011, with the exception of the second final provision and the fourth final provision, which shall enter into force on the day following that of its publication in the Official Gazette of the State.

Therefore,

I command all Spaniards, individuals and authorities, to keep and keep this law.

Madrid, 11 April 2011.

JOHN CARLOS R.

The President of the Government,

JOSE LUIS RODRIGUEZ ZAPATERO