Article 521

1. This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.

2. This Regulation shall apply from 1 January 2014, with the exception of:

(a) Article 8(3), Article 21 and Article 451(1), which shall apply from 1 January 2015;

(b) Article 413(1), which shall apply from 1 January 2016;

(c) the provisions of this Regulation that require the ESAs to submit to the Commission draft technical standards and the provisions of this Regulation that empower the Commission to adopt delegated acts or implementing acts, which shall apply from 28 June 2013.

This Regulation shall be binding in its entirety and directly applicable in all Member States.