Directive 85/611/EEC is hereby amended as follows:
1. Article 6c shall be amended as follows:
(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 53a
The 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 53b
1. The Commission shall be assisted by the European Securities Committee instituted by Commission Decision 2001/528/EC (*6), hereinafter "the Committee".
Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC (*7) 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."