Incorrect . The parliment votes on laws , the commission proposes laws and the council which is made up of the heads of state from each nation , set the agenda and direction of the EU
http://europa.eu/eu-law/decision-making/procedures/index_en.htm
National parliaments can formally express their reservations if they feel that it would be better to deal with an issue at national rather than EU level.
thats basically all you have done , publicly and formally expressed your disagreement .
however unless the council and parliament agree on amendments or to block it (wont happen ) you have no power to stop it going to parliament and being voted in .
it is also a directive which means you HAVE to comply , within 3 years of it being passed
Member States officially must enact Directives into national law, in a way that satisfies the objectives of the Directive
if you fail to do this your country would be fined , if you still fail to make it national law , the EU will simply make it a regulation in which case , they overrule your parliament completely and it becomes a direct law