Judgment of the Court (Fifth Chamber) of 4 December 2008.#Commission of the European Communities v Kingdom of Spain.#Failure of a Member State to fulfil obligations - Directive 2006/49/EC - Investment firms and credit institutions - Capital adequacy - Failure to transpose within the prescribed period.#Case C-113/08.

Subject of the case

Re:

Failure of a Member State to fulfil obligations – Failure to adopt, within the prescribed period, all the provisions necessary to comply with Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast) (OJ 2006 L 177, p. 201).

Operative part

Operative part

The Court:

1. Declares that, by failing to adopt, within the prescribed period, all the laws, regulations and administrative provisions necessary to comply with Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast) and, in particular, Articles 17, 22 to 25, 30, 33, 35, 40, 41, 43, 44 and 50 and Annexes I, II and VII, the Kingdom of Spain has failed to fulfil its obligations under that directive;

2. Orders the Kingdom of Spain to pay the costs.