[ParlTrack]

Lambert van NISTELROOIJ, Jan OLBRYCHT, Andrey NOVAKOV, Tamás DEUTSCH

Proposal for a regulation
Article 265 – paragraph 1 – point 13

Regulation (EU) No 1303/2013
Article 39a – paragraph 1

1. Member States may use ESI Funds to provide a contribution to financial instruments referred to in point (c) of Article 38(1) provided it has the aim to attract additional private sector investment and continues to contribute to ESI Funds objectives and the Union strategy for smart, sustainable and inclusive growth.

2017/03/13
Committee: REGI

Lambert van NISTELROOIJ, Jan OLBRYCHT, Andrey NOVAKOV, Tamás DEUTSCH

Proposal for a regulation
Article 265 – paragraph 1 – point 13

Regulation (EU) No 1303/2013
Article 39a – paragraph 1 a (new)

1a. When a Member State decides to provide such a contribution to financial instruments, the leverage and profitable effects of the financial instrument shall be in the territory of the respective Member State and its regions;

2017/03/13
Committee: REGI

Lambert van NISTELROOIJ, Jan OLBRYCHT, Andrey NOVAKOV, Tamás DEUTSCH

Proposal for a regulation
Article 265 – paragraph 1 – point 13

Regulation (EU) No 1303/2013
Article 39a – paragraph 6

6. When implementing financial instruments under point (c) of Article 38(1), the bodies referred to in paragraph 2 of this article shall ~~ensure compliance~~comply with applicable law, including rules covering the ESI Funds, State aid, public procurement and relevant standards and applicable legislation on the prevention of money laundering, the fight against terrorism, tax fraud and tax evasion. Those bodies shall not make use of or engage in tax avoidance structures, in particular aggressive tax planning schemes or practices not complying with tax good governance criteria as set out in EU legislation including Commission recommendations and communications or any formal notice by the latter. They shall not be established and, in relation to the implementation of the financial operations shall not maintain business relations with entities incorporated in jurisdictions that do not co- operate with the Union in relation to the application of the internationally agreed tax standards on transparency and exchange of information. Those bodies may, under their responsibility, conclude agreements with financial intermediaries for the implementation of financial operations. They shall transpose requirements referred to in this paragraph in their contracts with the financial intermediaries selected to participate in the execution of financial operations under such agreements.

2017/03/13
Committee: REGI

Lambert van NISTELROOIJ, Jan OLBRYCHT, Andrey NOVAKOV, Tamás DEUTSCH

Proposal for a regulation
Article 265 – paragraph 1 – point 13

Regulation (EU) No 1303/2013
Article 39a – paragraph 12

12. In case of financial instruments referred to in point (c) of Article 38(1) which take the form of a guarantee instrument, Member States may decide that ESI Funds may contribute to junior and/or mezzanine tranches of portfolios of loans covered also under the EFSI’s Union guarantee. Leverage and returns resulting from such contributions shall be used in accordance with the objectives of the respective ESI Funds to support actions and final recipients consistent with the programme(s) from which such contributions are made.

2017/03/13
Committee: REGI

Tamás DEUTSCH

Proposal for a regulation
Article 12 – paragraph 3 – point a

(a) amounts corresponding to commitment and payment appropriations for the Emergency Aid Reserve and ~~for the European Union Crisis Reserve and~~ to commitment appropriations for the European Union Solidarity Fund;