...
1.
...
Without
...
prejudice
...
to
...
the
...
decisions
...
of
...
the
...
Supervisory
...
Body
...
under
...
Article
...
20,
...
the
...
transmission
...
system
...
operator
...
shall
...
have:
...
(a)
...
effective
...
decision-making
...
rights,
...
independent
...
from
...
the
...
ver?
...
tically
...
integrated
...
undertaking,
...
with
...
respect
...
to
...
assets
...
neces?
...
sary
...
to
...
operate,
...
maintain
...
or
...
develop
...
the
...
transmission
...
system;
...
and
...
(b)
...
the
...
power
...
to
...
raise
...
money
...
on
...
the
...
capital
...
market
...
in
...
particular
...
through
...
borrowing
...
and
...
capital
...
increase.
...
2.
...
The
...
transmission
...
system
...
operator
...
shall
...
at
...
all
...
times
...
act
...
so
...
as
...
to
...
ensure
...
it
...
has
...
the
...
resources
...
it
...
needs
...
in
...
order
...
to
...
carry
...
out
...
the
...
activity
...
of
...
transmission
...
properly
...
and
...
efficiently
...
and
...
develop
...
and
...
maintain
...
an
...
efficient,
...
secure
...
and
...
economic
...
transmission
...
system.
...
3.
...
Subsidiaries
...
of
...
the
...
vertically
...
integrated
...
undertaking
...
per?
...
forming
...
functions
...
of
...
production
...
or
...
supply
...
shall
...
not
...
have
...
any
...
direct
...
or
...
indirect
...
shareholding
...
in
...
the
...
transmission
...
system
...
opera?
...
tor.
...
The
...
transmission
...
system
...
operator
...
shall
...
neither
...
have
...
any
...
direct
...
or
...
indirect
...
shareholding
...
in
...
any
...
subsidiary
...
of
...
the
...
vertically
...
integrated
...
undertaking
...
performing
...
functions
...
of
...
production
...
or
...
supply,
...
nor
...
receive
...
dividends
...
or
...
any
...
other
...
financial
...
benefit
...
from
...
that
...
subsidiary.
...
4.
...
The
...
overall
...
management
...
structure
...
and
...
the
...
corporate
...
stat?
...
utes
...
of
...
the
...
transmission
...
system
...
operator
...
shall
...
ensure
...
effective
...
independence
...
of
...
the
...
transmission
...
system
...
operator
...
in
...
compliance
...
with
...
this
...
Chapter.
...
The
...
vertically
...
integrated
...
undertaking
...
shall
...
not
...
determine,
...
directly
...
or
...
indirectly,
...
the
...
competitive
...
behaviour
...
of
...
the
...
transmission
...
system
...
operator
...
in
...
relation
...
to
...
the
...
day
...
to
...
day
...
activi?
...
ties
...
of
...
the
...
transmission
...
system
...
operator
...
and
...
management
...
of
...
the
...
network,
...
or
...
in
...
relation
...
to
...
activities
...
necessary
...
for
...
the
...
preparation
...
of
...
the
...
ten-year
...
network
...
development
...
plan
...
developed
...
pursuant
...
to
...
Article
...
22.
...
5.
...
In
...
fulfilling
...
their
...
tasks
...
in
...
Article
...
13
...
and
...
Article
...
17(2)
...
of
...
this
...
Directive,
...
and
...
in
...
complying
...
with
...
Article
...
13(1),
...
Article
...
14(1)(a),
...
Article
...
16(2),
...
(3)
...
and
...
(5),
...
Article
...
18(6)
...
and
...
Article
...
21(1)
...
of
...
Regu?
...
lation
...
(EC)
...
No
...
715/2009,
...
transmission
...
system
...
operators
...
shall
...
not
...
discriminate
...
against
...
different
...
persons
...
or
...
entities
...
and
...
shall
...
not
...
restrict,
...
distort
...
or
...
prevent
...
competition
...
in
...
production
...
or
...
supply.
...
6.
...
Any
...
commercial
...
and
...
financial
...
relations
...
between
...
the
...
verti?
...
cally
...
integrated
...
undertaking
...
and
...
the
...
transmission
...
system
...
opera?
...
tor,
...
including
...
loans
...
from
...
the
...
transmission
...
system
...
operator
...
to
...
the
...
vertically
...
integrated
...
undertaking,
...
shall
...
comply
...
with
...
market
...
con?
...
ditions.
...
The
...
transmission
...
system
...
operator
...
shall
...
keep
...
detailed
...
records
...
of
...
such
...
commercial
...
and
...
financial
...
relations
...
and
...
make
...
them
...
available
...
to
...
the
...
regulatory
...
authority
...
upon
...
request.
...
7.
...
The
...
transmission
...
system
...
operator
...
shall
...
submit
...
for
...
approval
...
by
...
the
...
regulatory
...
authority
...
all
...
commercial
...
and
...
financial
...
agree?
...
ments
...
with
...
the
...
vertically
...
integrated
...
undertaking.
...
8.
...
The
...
transmission
...
system
...
operator
...
shall
...
inform
...
the
...
regula?
...
tory
...
authority
...
of
...
the
...
financial
...
resources,
...
referred
...
to
...
in
...
Article
...
17(1)(d),
...
available
...
for
...
future
...
investment
...
projects
...
and/or
...
for
...
the
...
replacement
...
of
...
existing
...
assets.
...
9.
...
The
...
vertically
...
integrated
...
undertaking
...
shall
...
refrain
...
from
...
any
...
action
...
impeding
...
or
...
prejudicing
...
the
...
transmission
...
system
...
operator
...
from
...
complying
...
with
...
its
...
obligations
...
in
...
this
...
Chapter
...
and
...
shall
...
not
...
require
...
the
...
transmission
...
system
...
operator
...
to
...
seek
...
permission
...
from
...
the
...
vertically
...
integrated
...
undertaking
...
in
...
fulfilling
...
those
...
obligations.
...
10.
...
An
...
undertaking
...
which
...
has
...
been
...
certified
...
by
...
the
...
regulatory
...
authority
...
as
...
being
...
in
...
compliance
...
with
...
the
...
requirements
...
of
...
this
...
Chapter
...
shall
...
be
...
approved
...
and
...
designated
...
as
...
a
...
transmission
...
sys?
...
tem
...
operator
...
by
...
the
...
Member
...
State
...
concerned.
...
The
...
certification
...
procedure
...
in
...
either
...
Article
...
10
...
of
...
this
...
Directive
...
and
...
Article
...
3
...
of
...
Regulation
...
(EC)
...
No
...
715/2009
...
or
...
in
...
Article
...
11
...
of
...
this
...
Directive
...
shall
...
apply.
...
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[DIRECTIVE 2009|http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2009:211:0094:0136:EN:PDF]\\
Date 2009 |
