Anyways the current state of play is shown by these documents on the Directive and the Amended Regulation . If you want to see the full text before the Parliamentary changes it is simplest to consider the 20 February 2014 compromise position documents which are conveniently made available by the UK IPO here
Its now plotted as a European UNION Trade Mark and OHIM is to be a European Union Intellectual Property Agency (patents are not that important and anyways maybe OHIM can take over the Unified Patent functions of the EPO).
The proposal as it currently stands suggests (Amendment 29) that you cannot enforce your registration against use that "is made for the purposes of parody, artistic expression, criticism or comment". Our
The OHIM representative speaking at the McCarthy Institute event at the British Library on Thursday March 13 seemed pretty happy with where they were going so one imagines they have control over the editorial process.