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Case C-271/09: Judgment of the Court (Third Chamber) of 21 December 2011 — European Commission v Republic of Poland (Failure of a Member State to fulfil obligations — Free movement of capital — Scope — Open pension funds — Limitation on the investment of capital assets outside the Member State concerned — Proportionality)
ECLI:EU:UNKNOWN:62009CA0271
62009CA0271
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18.2.2012
Official Journal of the European Union
C 49/3
(Case C-271/09)(Failure of a Member State to fulfil obligations - Free movement of capital - Scope - Open pension funds - Limitation on the investment of capital assets outside the Member State concerned - Proportionality)
2012/C 49/04
Language of the case: Polish
Parties
Applicant: European Commission (represented by: E. Montaguti and K. Herrmann, Agents)
Defendant: Republic of Poland (represented by: M. Dowgielewicz, M. Szpunar, M. Jarosz and P. Kucharski, Agents)
Re:
Failure of a Member State to fulfil obligations — Breach of Article 56 EC — Pension funds forming part of a national system of compulsory affiliation and based on the capitalisation system — National rules limiting and discouraging the investment by such funds of capital assets outside Poland
Operative part of the judgment
The Court (Third Chamber):
1.Declares that, by maintaining in force Articles 143, 136(3) and 136a(2) of the Law of 28 August 1997 on the organisation and operation of pension funds (Ustawa o organizacji i funkcjonowaniu funduszy emerytalnych), as amended, in that they limit investments by Polish open pension funds in the other Member States, the Republic of Poland has failed to fulfil its obligations under Article 56 EC;
2.Orders the Republic of Poland to pay the costs.
*
Language of the case: Polish.
ECLI:EU:C:2012:140