THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community, and in particular the third sentence of Article 57(2) thereof,

Having regard to the proposal from the Commission [OJ No C 230, 15. 9. 1990, p. 5],

In cooperation with the European Parliament [OJ No C 240, 16. 9. 1991, p. 117 and OJ No C 305, 25. 11. 1991],

Having regard to the opinion of the Economic and Social Committee [OJ No C 102, 18. 4. 1991, p. 11],

Whereas the Council shall confer on the Commission powers for the implementation of the rules which the Council lays down;

Whereas implementing measures are necessary for the application of Council directives on non-life insurance and life assurance; whereas, in particular, technical adaptations may from time to time be necessary to take account of developments in the insurance sector; whereas it is appropriate that these measures shall be taken in accordance with the procedure laid down in Article 2, procedure III, variant (b), of Council Decision 87/373/EEC of 13 July 1987 laying down the procedures for the exercise of implementing powers conferred on the Commission [OJ No L 197, 18. 7. 1987, p. 33];

Whereas it is necessary for this purpose to set up an Insurance Committee;

Whereas the establishment of an Insurance Committee does not rule out other forms of cooperation between authorities which supervise the taking up and pursuit of the business of insurance undertakings, and in particular cooperation within the Conference on Insurance Supervisory Authorities, which is in particular competent for the drafting of protocols implementing Community directives; whereas close cooperation between the Committee and the Conference would be particularly useful;