Judgment of the Court (Seventh Chamber) of 25 September 2008.#Commission of the European Communities v Czech Republic.#Failure of a Member State to fulfil obligations - Directive 2006/73/EC - Measures implementing Directive 2004/39/EC - Organisational requirements and operating conditions for investment firms - Failure to adopt within the prescribed period.#Case C-87/08.

Subject of the case

Re:

Failure of a Member State to fulfil obligations – Failure to transpose Commission Directive 2006/73/EC of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that directive (OJ 2006 L 241, p. 26).

Operative part

Operative part

The Court:

1. Declares that, by failing to adopt all such laws, regulations and administrative provisions necessary to comply with Commission Directive 2006/73/EC of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that directive, the Czech Republic has failed to fulfil its obligations under Article 53(1) of that directive;

2. Orders the Czech Republic to pay the costs.