1836 Amendments of Philippe DE BACKER
Amendment 18 #
2016/2041(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the development of renewable energy must ensureprovides opportunities for tackling climate change, improving air quality increasing energy sovereignecurity, eliminateing energy poverty and fostering economic development in the EU;
Amendment 37 #
2016/2041(INI)
Motion for a resolution
Recital D
Recital D
D. whereas public participation and supervision, clear policy guidelines at regional, national and European level and the engagement of citizens, businesses, consumer organisations, civil society and social partners are key to the successful development of renewable energy;
Amendment 61 #
2016/2041(INI)
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Welcomes the European Commission's commitment to making the EU "the world number one in renewables" and urges the Commission to ensure full implementation of the 2020 renewable energy directive and to put forward an ambitious post-2020 legislative framework;
Amendment 85 #
2016/2041(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Highlights the fact that the national regulation of electricityimportance of an EU legislative proposal on energy market rules, as a more integrated markets is a key factor inor the dieverging advancelopment of renewables, differentand for reducing energy costs for families and for industry and different levels of energy dependency;
Amendment 115 #
2016/2041(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 147 #
2016/2041(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 169 #
2016/2041(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Stresses that the targets already agreed for 2020 must be taken as the baseline when revising the Renewables Energy Directive after that date; underlines that the EU 2030 renewable energy target requires collective achievement; stresses that Member States should develop their national plans timely and that the Commission needs enhanced oversight capacities;
Amendment 191 #
2016/2041(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses the importance of public consultation and participation in the planning of new energy infrastructure projects, in particular as regards new interconnections;
Amendment 215 #
2016/2041(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Highlights the need for a differential treatmentimportance of taking into account the differences between micro, small and large producers; stresses the importance of ensuring financial and administrative facilities for ‘prosumers’ (households, micro and small businesses, cooperatives, public administrations and non-commercial entities that engage in energy production);
Amendment 239 #
2016/2041(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Stresses that renewable electricity production should be better integrated with the electric distribution and transmission systems, considering the changes towards a more flexible and decentralised model for energy;
Amendment 249 #
2016/2041(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes the Commission’'s strategy to increase demand-response mechanisms; stresses that this should not create an additional financial burden fordemand-response mechanisms could provide an opportunity for energy costs reductions for businesses and citizens;
Amendment 262 #
2016/2041(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Highlights that stability in energy prices isenergy price signals are necessary to induce the adequate demand responses from consumers;
Amendment 270 #
2016/2041(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that certain consumers (such as energy-poor households) have rigid consumption patterns and may be negatively affected by enhanced price- based efficiency mechanisms; stresses in this regard the importance of energy efficiency policies in Member States focused on consumers in a vulnerable situation;
Amendment 298 #
2016/2041(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Stresses the need to facilitate a transition towards renewable heating devices, while ensuring adequate financial support for energy-poor citizensproportionate and technology neutral market-based support instruments for as a market push for technologies that haven't reached market maturity yet;
Amendment 317 #
2016/2041(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Notes the failure of theimportance of sustainability criteria for the use of biofuel-based renewable strategy forenergy in transport;
Amendment 338 #
2016/2041(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Stresses the need for a shift from liberalisation to sustainable mobility regulationpolicies, including sustainable logistic systems and sustainable urban policies that minimise overall energy consumption in transport;
Amendment 60 #
2016/2032(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that a diversified financial services sector offering a wide range of cost-efficient tailor-made funding options serves the actual funding needs of SMEs best; notes in this respect the need to ensure equal focus on improving access to finance for microenterprises and sole traders;
Amendment 66 #
2016/2032(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Encourages SMEs to consider the whole EU as their home market and to use the potential of the single market for their financing needs; welcomes the Commission’s initiatives supporting SMEs and start-ups in an upgraded Single Market; underlines, in this context, the importance of convergence of rules and procedure across the Union and the implementation of the Small Business Act; calls on the Commission for a follow-up to the Small Business Act;
Amendment 75 #
2016/2032(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that start-ups in particular find it difficult to obtain appropriate funding and to identify and meet regulatory financial requirements; encourages therefore the EIB and Member States in their efforts to create one-stop shops as hubs for all financing options and regulatory requirements for entrepreneurs; welcomes the Commission’s plan to launch a European Pact for starts-ups to address these issues;
Amendment 86 #
2016/2032(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Stresses that there is no one-size-fits- all mode of finance and calls on the Commission to support the development of a broad range of tailored programmes, instruments and initiatives, ranging across equity (such as business angels, crowd funding and multilateral trading facilities), quasi-equity (such as mezzanine finance) and debt instruments (such as small-ticket company bonds, guarantee facilities and platforms), in partnerships between banks and other operators involved in SME financing (accountancy professionals, business or SME associations or chambers of commerce), in order to support businesses in their start-up, growth and transfer phases, taking into account their size, turnover and financing needs;
Amendment 89 #
2016/2032(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Reiterates that revised public procurement and concession contract rules should not hamper SMEs' and micro-enterprises' access to the procurement market;
Amendment 92 #
2016/2032(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Stresses that the Commission should emphasise the important role that the stock market can play in improving access to liquidity for both SMEs and investors at different stages; recalls that stock markets designed specifically for SMEs are already in place in the euro area and that they were designed in response to specific market and financing requirements;
Amendment 104 #
2016/2032(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Reiterates that it is pralso impordialtant to enhance the SME lending capacity of banks; points out that financing by capital marketbanks alone will not succeed in providing sufficient funding and appropriate financing solutions for SMEs which is why we also require alternative sources of financing for SME's;
Amendment 156 #
2016/2032(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Calls on the Commission to consider shortening and simplification of bankruptcy procedures across the EU in order to minimise burden and increase flexibility;
Amendment 157 #
2016/2032(INI)
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18b. Calls on the Commission to consider proportionality around the early repayment of loans across the EU, such as a cap to limit costs for SME's and more transparency in contracts for SME's;
Amendment 164 #
2016/2032(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States to enhance the financial literacy and access to financial skills and knowledge of SMEs;
Amendment 175 #
2016/2032(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Points out that the ongoing development of the CMU must be accompanied by recurring efforts to converge EU processes and procedures and to evaluate the existing financial regulatory framework, in particular with regard to its effects on SMEs; calls on the Commission to provide an appropriate, tailored regulatory framework for issuers of funding to SMEs that does not prove burdensome for them and also wins investors' confidence (under the European legislation on accounting standards, the Prospectus Directive, the Transparency Directive, the Market Abuse Directive and the MIFID);
Amendment 196 #
2016/2032(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Emphasises the importance of the transparency, standardisation and public availability of SME financing information for investors, supervisors and other stakeholders in order to understand the risk profile and take informed decisions; welcomes the Commission’s SME information strategy; requests the Commission to consider a single SME identification number to build on a single database for SME's;
Amendment 200 #
2016/2032(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Underlines the potential of new innovative financial technology (FinTech) for the better matching of SMEs with potential investors; calls on the Commission to explore potential and Member States to allow FinTech to flourisksh and the need for an appropriate harmonised EU regulatory frameworkmarkets to function freely without interference except where a harmonised EU framework is necessary to provide transparency and confidence in the market;
Amendment 211 #
2016/2032(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses that alternative funding sources like crowdfunding, micro-credits or peer-to- peer lending offer solutions for start-ups and innovative SMEs in particular; welcomes the Commission’s assessment of the existing framework for crowdfunding; calls on the Commission to explore the need for, and potential of, a harmonised EU framework;
Amendment 241 #
2016/2032(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Calls for the Commission to deliver an annual report to the European Parliament, outlining the status of implementation initiatives and its impact on the improvement of access to financing for SME's in Europe; calls on the Commission to include its own assessment of the strategic direction and recommended changes where applicable;
Amendment 86 #
2016/2019(BUD)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Considers that the structural and organisational reforms aimed at achieving greater efficiency, environmental sustainability, and effectiveness should continue through the thorough examination of possible synergies and savings; recalls the substantial savings that could be made by having only one place of work instead of three (Brussels, Strasbourg, Luxembourg); underlines that this process should be lead without endangering Parliament's legislative excellence, its budgetary powers and powers of scrutiny, or the quality of working conditions for Members, assistants, and staff;
Amendment 11 #
2015/2353(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Points out that the implementation of Horizon 2020 and COSME has led to very high absorption rates and that this has led to a very low success rate in Horizon 2020 which deters potential applicants from putting forward their projects;
Amendment 18 #
2015/2353(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Believes that new political priorities should not be proposed at the expense of the agreed programmes of the current MFF, in particular H2020, CEF, COSME, Galileo and Copernicus, and pre-allocated national envelopes; Stresses that any new funds should be alimented with new funding, and should not go to the detriment of existing programmes;
Amendment 29 #
2015/2353(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls on the budgetary authorities to establish the maximum possible flexibility to direct unused annual appropriations towards the programmes under Heading 1a, such as Horizon 2020, COSME and the Connecting Europe Facility;
Amendment 32 #
2015/2353(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Notes that Union programmes have significantly contributed to ensuring access to finance for SMEs; calls for further consideration to be given to ways of extending the programme to even more SMEs and meeting the various needs of SMEs more adequately; Stresses that access to finance remains a challenge for many SME's, with a particular focus on risk-financing;
Amendment 41 #
2015/2353(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Calls for the mid-term evaluation of the MFF programmes on the basis of their performance against stipulated targets and objectives, absorption capacity and EU added value, taking into account the still existing payment backlog and the late implementation of the current framework.
Amendment 42 #
2015/2353(INI)
Draft opinion
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Considers that all EU budgetary instruments which support investment and innovation should be maintained and further developed, and that there is no need to favour one or more of these instruments to the detriment of the others; notes the essential role of the EU budget in providing an incentive for future spending and in supporting cohesion and effective implementation of policies within the EU.
Amendment 1 #
2015/2323(INI)
Motion for a resolution
Citation 2 a (new)
Citation 2 a (new)
- having regard to the Commission Communication entitled "An EU Strategy on Heating and Cooling" (COM(2016)51),
Amendment 13 #
2015/2323(INI)
2. Highlights that the ongoing energy transition is resulting in a move away from a centralised, inflexible, fossil fuel-based energy system to one which is more decentralised, flexible and renewables- based;
Amendment 52 #
2015/2323(INI)
Motion for a resolution
Paragraph 3 – point d
Paragraph 3 – point d
d. protect consumers from abusive, uncompetitive and unfair practices by suppliers and enable them to fully exercise their rights;
Amendment 71 #
2015/2323(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that, as a general principle, the energy transition should result in a more decentralised and democraticinclusive energy system which benefits society as a whole, increases the involvement of citizens and local, local and regional actors and communities, and empowers them to own or share in the ownership of the production, distribution and storage of energy, while at the same time protecting the most vulnerable;
Amendment 95 #
2015/2323(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Considers that the aim of the Third Energy Package to provide a truly competitive and consumer-friendly retail energy market has not yet been fully realised, as for example evidenced by low levels of consumer switching and satisfaction across the EUin many Member States, persistent high levels of market concentration, and the failure to reflect falling wholesale costs in retail prices also due to a rising share of fixed elements like taxes and levies in energy bills;
Amendment 104 #
2015/2323(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Believes that a fully functioning internal energy market with open and transparent competition between many different market players is still the best way to empower consumers and prevent energy poverty
Amendment 119 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point a
Paragraph 6 – point a
a. Recommends improving the frequency of energy bills and their transparency and clarity of bills, which should include information on the final price, with an explanation of the different taxes, levies and tariffs, together with information on the different energy sources and complaint handling, clear indication of contact points, and information on switching and energy efficiency measures; insists that clear language must be used, with technical terms either avoided or clearly explained; requests the Commission to identify minimum standardcommends to enhance the exchange of best practices in this respect;
Amendment 140 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point b
Paragraph 6 – point b
b. Recommends that consideration be given to requiring energy bills to include comparisons of offers in order to enable all consumers, even those without internet access or skills, to see whether they could save money by switchingalso consumers lacking internet access or skills receive all necessary information to be able to make informed decisions, such as comparisons of offers; believes that peer-based comparisons should also be included in billsare an important tool to help reduce energy use;
Amendment 152 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point c
Paragraph 6 – point c
c. Recommends developing rulEU-guidelines for price comparison tools to ensure that consumers can access independent, up-to- date and understandable comparison tools; believes Member States should develop accreditation schemes covering all price comparison tools, in line with CEER guidelines;
Amendment 161 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point d
Paragraph 6 – point d
d. Recommends that there should be a limited range of standardised tariffs, in order to facilitate comparison between different suppliers and tariffs and avoid a confusing array of different tariffs for the same product;eleted
Amendment 194 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point f
Paragraph 6 – point f
f. Recommends measures to enable retail prices to better reflect wholesale prices and thus reverse the trend of an increasing proportion of fixed elements in energy bills, in particular network charges, taxes and levies and in some cases network charges, which are often regressive elements; recommends that such elements be applied progressively or, where, possible funded from alternative sources;
Amendment 231 #
2015/2323(INI)
Motion for a resolution
Subheading 2
Subheading 2
Amendment 240 #
2015/2323(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Believes that local authorities, communities and individuals should form the backbone of the energy transition and should be actively supported to help them become energy producers and suppliersencouraged to become active players in the energy market on an equal footing with other players;
Amendment 264 #
2015/2323(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Considers that access to capital, high upfront investment costs and long repayment periods represent barriers to the take-up of self-generation and energy efficiency measures; calls, therefore, for the development of new business models and innovative financial instruments to incentivise self-generation, consumption and energy efficiency for all consumers; suggests that this should become a priority for the EIB, EFSI and therecommends in this regard that Member States and other market actors make full usage of funds available, such as EIB, EFSI, Horizon 2020 and Structural Funds;
Amendment 300 #
2015/2323(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recommends reducing to an absolute minimum the administrative barriers to new self-generation capacity, and suggests replacing lengthysimplifying authorisation procedures with a simple notification requirement; suggests that the revision of the renewable energy directive could include specific provisions to remove barriers and promote community/cooperative energy schemes;
Amendment 325 #
2015/2323(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Believes that consumers should have easy and timely access to their consumption data in both volume and monetary termand related costs, to help them make informed decisions; notes that only 16 Member States have committed to a large-scale roll-out of smart meters by 2020; believes that where smart meters are rolled out there should be a solid legal framework to ensure an end to back-billing and a rollout that is efficient and affordable for all consumers and is free of charge forincluding energy-poor consumers; insists that efficiency savings from smart meters should be shared on a fair basis between grid operators and users; stresses that compliance with the Commission’s recommendations on consumer-oriented functionalities of smart meters as well as attention to interoperability is needed in order for consumers to enjoy full benefits;
Amendment 340 #
2015/2323(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Emphasises that the development of smart technologies plays a key role in the energy transition and can help customers reduce their energy costs and improve energy efficiency; calls therefore for the rapid deployment of ICT, including mobile applications, online platforms and online billing; stresses, however, that this development must not leave the most vulnerable or less engaged consumers behind, nor see bills rise;
Amendment 367 #
2015/2323(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that the processing and storage of citizens’ energy-related data should be managed by neutral entities, which have to ensure non-discriminatory access to meter data and should comply with the existing EU legislation, which lays down that the ownership of all data lies with the citizen and that data should only be provided to third parties by explicit consent; considers that, in addition, citizens should be able to exercise their rights to correct and erase information;
Amendment 402 #
2015/2323(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Considers that the Energy Union governance framework should include objectives and reporting from Member States for energy poverty, and that key indicators for energy poverty should be developed;
Amendment 423 #
2015/2323(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 21 #
2015/2322(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Commission’s planned transformation ofs with regard to the electricity market must lead to real market transformation and contribute to efficiency and security of supply;
Amendment 48 #
2015/2322(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas other positive experiences of common power markets as for example the Nordic electricity market between Norway, Sweden, Finland and Denmark or market coupling within the Central/Eastern Europe (4M, CZ-SK-HU- RO) should be taken into account;
Amendment 80 #
2015/2322(INI)
Motion for a resolution
Recital G
Recital G
G. whereas national duties, high taxation costs, fixed prices, subsidies, feed-in priorities and lack of interconnectors prevent a functioning internal market in electricity and thus delay the full market integration of largely CO2- free energy sources;
Amendment 97 #
2015/2322(INI)
Motion for a resolution
Recital H
Recital H
H. whereas, subject to the findings of impact assessments, a medium-term increase in interconnection between the Member States to 15% or more could improve security of supply;
Amendment 112 #
2015/2322(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission communication on the transformation of the energy market and endorses the view that the transformed electricity market and thorough implementation of existing legislation should enhance regional cooperation on security of energy supply and should focus on more market and less regulation;
Amendment 145 #
2015/2322(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Believes that the best way towards integrated EU-wide electricity market is to strategically determine the necessary level of integration which should be achieved, restore confidence among the market players and especially ensure proper implementation of existing legislation;
Amendment 181 #
2015/2322(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Believes that a European internal market in electricity is possible on the basis of stronger price incentives; is aware, however, of the risks of unpredictable price surges and calls for meaningful pilot projects to be carried out before introducing prices that reflect the actual scarcity of supplies;
Amendment 261 #
2015/2322(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that network expansionefficient use of interconnections as well as national networks and their further expansion and development in particular is indispensable with a view to completing the internal market in electricity with a growing share of renewables; regrets that there are still large gaps in the interconnections between Member States, leading to network bottlenecks and significantly impairing operational security and cross-border energy trading; calls for the electricity interconnection objectives to be differentiated by region and aligned with the ENTSO-E ten-year network plan;
Amendment 288 #
2015/2322(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Is sceptical of capacity mechanisms on the grounds of high cost for end consumer and the risk of market distortions, and stresses that national capacity markets are subject to the EU rules on competition and state aid;
Amendment 304 #
2015/2322(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls for national capacity mechanisms only to be authorised as a last resort, where a detailed adequacy analysis of the production and supply situation at regional level has been carried out in advance and a bottleneckmade public and a bottleneck, given by specific geographical and network conditions, has been identified and which cannot be eliminated by less stringent measures such as a strategic reserve or covered by already existing sources;
Amendment 327 #
2015/2322(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Insists that national capacity markets should be open to cross-border participation, technology-neutral (open to generation, demand response and energy storage), open to new and existing plants, market- based and should only creatensure the capacity strictly necessary for security of supply;
Amendment 339 #
2015/2322(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Stresses the need to promote the deployment of energy storage systems and to create a level playing field on which energy storage can compete with other flexibility options, based on technology- neutral design of the energy market;
Amendment 393 #
2015/2322(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Notes that the expectation of future price surges can create incentives for producers and investors to invest in production capacity, particularly in high- efficiency modern gas-fired power stations (both gas engines and turbines), urges politicians not to intervene in the market even in the event of large price surges and calls, in the medium term, for the complete abolition of regulated final consumer prices;
Amendment 438 #
2015/2322(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Notes that the Member States must meet specific quantitative objectives for the share of renewables in energy consumption, irrespective of the market situation, and therefore stresses the importance of promoting renewables in a way that focuses on competition and cost efficiency; therefore regards the EU-ETS as the most effective tool, and promotion of investment as more compatible with the market than current feed-in priorities and fixed prices;
Amendment 476 #
2015/2322(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls for operators of renewable power plants to be held strictly responsible for balancing within their areas as that could create a level playing field and stresses that, in the event of departure from the schedule announced by the operator, an appropriate compensatory energy price should be charged;
Amendment 479 #
2015/2322(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Calls, with the subsidiarity principle in mind, for coordinated action by Member States at regional level in connection with the further expansion of renewables, in order to boost the economic efficiency of the energy market; Unilateral decision of a Member State with a substantial impact on neighbouring states shouldn´t be taken without broader discussion at a regional or EU level;
Amendment 512 #
2015/2322(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Takes the view that, for a medium- term transitional period, national responsibility for the energy mix cannot be questioned and therefore that both nuclear power, which is largely CO2-neutral, and the use of national energy reserves together with high-efficiency gas-fired power stations and coal-fired electricity generation using the latest technology, can make vital contributions to the integration of renewables;
Amendment 577 #
2015/2322(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Takes the view that the transfer of responsibility for system security to supranational bodies would involve considerable regulatory effort which is not reflected in any worthwhile efficiency gain for the transmission and distribution system operators, and that the necessary legal framework would require several years to put in place;
Amendment 7 #
2015/2276(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Highlights the dual-use capacity of Galileo and Copernicus, in the form of the Public Regulated Service and the Copernicus security service; believes this capacity should be fully developed in the next generations, noting especially the need for very high resolution earth observation data (Copernicus) and better precision, and encryptionuthentication, encryption, continuity and integrity (Galileo); calls for sufficient provision in the mid-term review for all satellite systems’ future development;
Amendment 29 #
2015/2276(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Points to the development of SST as a step towards security in space; considers that SST should become an EU programme with its own limited budget; invites the Commission to assess the need to take account of space weather and near-Earth objects and to come up with the next steps for SST in order to prepare industry; emphasises that the private sector should be enabled to play an important role in further developing and maintaining the non-sensitive part of the SST system, for which the two-sided governance structure of Galileo could serve as an example;
Amendment 45 #
2015/2276(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Stresses the strategic importance of stimulating space innovation and research for security and defence; acknowledges the large potential of critical space technologies such as the European Data Relay System, which enables real-time and persistent earth observation, the deployment of mega- constellations of nanosats and, lastly, building up a responsive space capacity; underlines the need for innovative big data technologies to make use of the full potential of space data for security and defence; invites the Commission to incorporate these technologies in its Space Strategy for Europe;
Amendment 46 #
2015/2276(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Calls on the Commission to provide sufficiently for critical space technologies for security and defence during the mid- term review of Horizon 2020;
Amendment 47 #
2015/2276(INI)
Draft opinion
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Identifies the dangers of cyber warfare for European space programmes, taking into account that spoofing or jamming can disturb military missions or have far- reaching implications for daily life on earth; believes that cyber security requires a joint approach by EU, Member States, business and internet specialists; calls on the Commission, therefore, to include space communication in its cyber security programmes;
Amendment 54 #
2015/2276(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses the need for better coordination of EU space capacities, with the necessary system architectures and procedures to ensure a proportionate level of security, including data security; considers that EU space capacities dedicated to security and defence could be managed by a specific operational service coordination centre., which should be incorporated in a cost- efficient manner into one of the existing EU bodies, such as the European GNSS Agency, the EU Satellite Centre or the European Defence Agency, taking into account the capabilities already offered by those agencies;
Amendment 30 #
2015/2233(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas trade is an important tool to stimulate growth and jobs without government investments;
Amendment 32 #
2015/2233(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the European Union's economy is highly dependent on trade and therefore has a vital interest in strengthening rules-based trade across the globe;
Amendment 34 #
2015/2233(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas the EU's services sector is already the most open in the world, while many other important markets are still partly closed to European companies and do not offer opportunities for fair competition;
Amendment 59 #
2015/2233(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the globalisation, and increasing servicification and digitalisation both of our economies and of international trade urgently call for policy action to enhance international rules, to globally strengthen the EU's position;
Amendment 75 #
2015/2233(INI)
Motion for a resolution
Recital F
Recital F
F. whereas trade in services is an crucial engine for jobs and growth in the EU, which can be strengthened by an ambitious TiSA;
Amendment 111 #
2015/2233(INI)
Motion for a resolution
Recital J
Recital J
J. whereas citizens’' trust in EU’'s trade policy is a must, which can only be restomust be ensured by ensurattaining the highest level of transparency and engagement, by maintaining constant dialogue with civil society, and by setting clear guidelines in the negotiations;
Amendment 152 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point a – point i a (new)
Paragraph 1 – point a – point i a (new)
ia. to aim for an ambitious TiSA which builds on the GATS and sets a new global standard, strengthening the rules-based international trading system, opening markets to European companies, benefitting European citizens and protecting and enforcing European values and standards;
Amendment 177 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point a – point iii
Paragraph 1 – point a – point iii
iii. to push for multilateralisation by crafting GATS-compatible provisions and by accepting new parties conditional on their acceptance of the agreed rules and level of ambitions; to incentivise wider participation in the talks by granting interested parties observer status; to note that both the highest barriers and the highest growth potential regarding trade in services are to be found in the BRICS and the MINT countries; to recognise the importance of those countries for the EU, as export destinations with a rising middle class, as sources of intermediate inputs and as key hubs in global value chains; to open the way for the participation of China;
Amendment 180 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point a – point iii a (new)
Paragraph 1 – point a – point iii a (new)
iiia. to reiterate its support for broadening the negotiations to include other countries, including BRIC countries, especially China; to continue to try to convince other negotiating partners of the value of broadening the process now, instead of presenting third countries with a fait accompli at the end;
Amendment 192 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point a – point vi
Paragraph 1 – point a – point vi
vi. to ensure synergies between bilateral, plurilateral and multilateral agreements currently being negotiated, as well as with single market developments, especially with regard to the digital single market;
Amendment 207 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point a – point viii
Paragraph 1 – point a – point viii
viii. to publish a sustainability impact assessment and, once the negotiations are finalised, to update it accordingly, taking specific account of its impact on citizens and workers; to request Parliament’s research services to publish a comprehensive and informative study of the scope and potential impact of the TiSA negotiations;
Amendment 231 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point b – point i
Paragraph 1 – point b – point i
i. to exclude public services and culturaudio- visual services from the scope of the negotiations, and to seek the further opening of foreign markets in telecommunications, transport and professional services;
Amendment 247 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point b – point iii
Paragraph 1 – point b – point iii
iii. to excluderetain the ability to prevent the provision of new services from the EU’s commitmentnot classified in the relevant classification system by foreign service suppliers;
Amendment 267 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point b – point v
Paragraph 1 – point b – point v
v. to undertake limited commitments in Mode 1 so aswhile being careful to avoid regulatory arbitrage and social dumping; to ensure that European rules are fully respected when a company provides a service from abroad to European consumers;
Amendment 282 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point b – point vii
Paragraph 1 – point b – point vii
vii. to take a cautious approach in Mode 4, while bearing in mind that the EU has an key offensive interest in Mode 4, the inward and outward movement of highly-skilled labour; to acknowledge that the labour clause maintains the legal obligation of foreign service providers to comply with EU and Member State social and labour legislation, as well as with collective agreements; to enter into ambitious commitments for those cases which underpin Mode 3 commitments;
Amendment 306 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point b – point x
Paragraph 1 – point b – point x
x. to consider the introducetion of an unequivocal ‘'gold standard’' clause, which could be included in all trade agreements and would clarify that the public utilities clause applies to all modes of supply and to any services considered as public services by European, national or regional authorities;
Amendment 316 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point b – point xi
Paragraph 1 – point b – point xi
xi. to ensure, in line with Article 167(4) TFEU and with the UNESCO Convention on the protection and promotion of the diversity of cultural expressions, that the parties preserve their right to adopt or maintain any measure with respect to the protection or promotion of cultural and linguistic diversity; to explicitly exclude audiovisual services, media and publishing from the scope of the agreement, irrespective of the technology or distribution platform used;
Amendment 331 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point c – point i
Paragraph 1 – point c – point i
i. to ensure cross-border data flows, which are a crucial driver of the services economy and an essential element of the global value chain of traditional manufacturing companies, in compliance with the universal right to privacy;
Amendment 334 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point c – point i a (new)
Paragraph 1 – point c – point i a (new)
ia. to acknowledge that a high level of trust is essential to develop a data-driven economy, which includes open data, anonymous data and non-personal data that are generated as a by-product by machines/sensors;
Amendment 356 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point c – point iv
Paragraph 1 – point c – point iv
iv. to ensure that national security clauses are grounded in appropriate necessity criteria; to firmly reject, therefore, any extension of the scope of the national security exemption enshrined in GATS Article XIVa , including elements of forced data localisation and backdoors in technologies that could be used to allow access to users personal data and which increase complexity and uncertainty for SMEs;
Amendment 366 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point c – point v
Paragraph 1 – point c – point v
v. to recognise that digital innovation is a driver of economic growth and productivity in the entire economy; to recognise the need for data flows; to seek, therefore, a comprehensive prohibition of forced data localisation requirements;
Amendment 565 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point i – point i a (new)
Paragraph 1 – point i – point i a (new)
ia. to ensure a high level of citizen and stakeholder engagement, including through organising meetings and events to explain what TiSA is and is not; to stress that Member States, who set out the negotiating directives, have a fundamental role to play in this regard;
Amendment 575 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point i – point iii
Paragraph 1 – point i – point iii
iii. to welcome the substantial push for transparency vis-à-vis the public since the 2014 European elections, including the publication of EU market access offers and the mandate granted by the Council; to further these efforts by providing fact sheets for each part of the agreement and by publishing factual round-by-round feedback reports on the Europa website; to publish more negotiating documents where possible;
Amendment 577 #
2015/2233(INI)
Motion for a resolution
Paragraph 1 – point i – point iii a (new)
Paragraph 1 – point i – point iii a (new)
iiia. to convince negotiating partners to mirror the EU’s step to further transparency, to facilitate a more open process on all sides;
Amendment 12 #
2015/2232(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
– having regard to the Paris Agreement made in December 2015 at the 21st Conference of the Parties (COP21) to the UNFCCC,
Amendment 17 #
2015/2232(INI)
Motion for a resolution
Recital A
Recital A
A. whereas increased energy efficiency and energy saving are key factors for environmental and climate protection and supply security and strengthening economic competitiveness; whereas the Energy Efficiency Directive provides an important basis in this connection;
Amendment 22 #
2015/2232(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the EU is making good progress towards its environmental targets for 2020 according to projections which assume full implementation of all relevant legislation by 2020, (reducing CO2 emissions, increasing the share of renewable energy sources, energy efficiency) and is playing a leading role at world level;
Amendment 44 #
2015/2232(INI)
Motion for a resolution
Subheading 1
Subheading 1
Energy Efficiency Directive only inadequately implemented – savings targets achieved nonethelesprovides framework for delivering energy savings
Amendment 52 #
2015/2232(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that up to now neither the 2012 Energy Efficiency Directive nor the 2010 Buildings Directive have been adequately implemented by the Member States; considers, therefore, that one reason why the energy efficiency targets are being achieved lies in the fact that citizens and undertakings themselves have an interest in low energy consumption and cutting costs;
Amendment 74 #
2015/2232(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that the directive’s flexibility has allowed many Member States to embark on energy efficiency measures; notes that the directive's flexibility has been a factor in the underachievement of its targets; demands that loopholes in the existing Directive, especially in Article 7, should be removed, while keeping flexibility for the Member States to choose among the measures; notes in particular that phasing in and early actions under Article 7.2 are no longer valid and that the 25% flexibility has reduced the effectiveness of the 1.5% p.a. energy savings requirement; insists that alternative measures under Article 7.9 must be better defined;
Amendment 97 #
2015/2232(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that somemany key elements of the Energy Efficiency Directive (including smart meters, cogeneration, renovation plans) need more time in order to givea collective framework beyond 2020 to spur administrations and undertakings an opportunity to launch projects and innovations with a long term perspective;
Amendment 108 #
2015/2232(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Points out that the Energy Efficiency Directive became an Energy Saving Directive aNotes that a clear energy saving targets are vital in achieving our climate goals and result of political decisions; calls for the focus of the directive to be turned more towards energy efficiency consideratducing our dependence on third country energy suppliers; notes that buildings account for 40% of energy use in the EU and that 50% of energy is used for heating and cooling purposes; stresses that improved energy efficiency in buildings is therefore of paramount importance in reducing CO2 emissions;
Amendment 173 #
2015/2232(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Is concerned that European electricity prices for medium-sized industrial and business customers and private consumers are among the highest in the world; points out that the difference in energy prices between EU Member States and our main competitors undermines the competitiveness of European energy intensive industries;
Amendment 215 #
2015/2232(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that a barrier-free internal energy market will optimise the costs of energy production and distribution and significantly improve energy efficiency across Europe; calls therefore on the Member States to fully implement the third energy package to ensure fully functioning competitive and interconnected energy markets;
Amendment 245 #
2015/2232(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Takes the view that more flexibility is needed in order to reach the EU’'s climate protection and efficiency targets; calls for ‘target flexibility’ for Member States; takes the view that rebates should be available for targets relating to energy saving and increasing the share of renewable energy sources (Article 3 of the Energy Efficiency Directive) where for example the CO2 targets have been exceeded must be mutually reinforcing, and that binding requirements for energy efficiency are vital in achieving a maximum degree of ambition and effort in Member States, and to allow sufficient flexibility for the mix of tools and instruments to be tailored at national level;
Amendment 254 #
2015/2232(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls in this connection for the Energy Efficiency Directive to be adapted in line with the EU’'s climate protection targets for 2030 and the COP21 Paris agreement to achieve the goal of limiting global warming to well below 2 degrees and pursue efforts to limit the increase to 1.5°;
Amendment 284 #
2015/2232(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for an exchange of ideasWelcomes the increased professional assistance from the Commission to ensure efficient and timely implementation of the EED; Calls for a further close cooperation among Member States on the saving obligations and, building and renovation plans (Articles 4, 5, 6 and 7) with the aim of applying existing instruments (tax incentives, support programmes, model contracts) more quickly; calls for Commission guidelines for future national planmore rapidly; calls for binding templates for national plans to ensure transparency and comparability, and integration of energy efficiency policies from all levels;
Amendment 289 #
2015/2232(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for an exchange of ideas among Member States on the saving obligations and building and renovation plans (Articles 4, 5, 6 and 7) with the aim of applying existing instruments (tax incentives, support programmes, model contracts) more quickly; calls for Commission guidelines for future national plans; calls on Member States to choose innovative market-based support schemes;
Amendment 65 #
2015/2221(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the establishment of the SSM, which has been successful since its creation both from an operational point of view and in terms of supervisory quality, and considers it a remarkable achievement, taking into account the complexity of the project and the very short time frame available; calls for this high-quality work to continue;
Amendment 140 #
2015/2221(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Believes that the worldwide drive towards more and better quality bank capital is a necessary condition for a sound banking system capable of supporting the economy and for avoiding any repeat of the enormoussignificant bailouts witnessed during the crisis; underlines however that the development of regulatory, supervisory and other financial sector policies at global level (FSB, BCBS, etc.) must have defined aims, and must not be used as a guise to enable unfair competition, nor to negatively target a particular funding model used in one part of the world;
Amendment 163 #
2015/2221(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the development of a common methodology for the 2015 round of the Supervisory Review and Evaluation Process (SREP); takes note that, partly as a consequence of the swift start of the SSM, many aspects of this methodology were finalised while the SREP cycle was already underway, and considers that in order to improve robustness of results and consistency between banks’ risk profiles and capital levels, the process leading to the approval of the common risk assessment may benefit from further refinement; welcomes the SSM's willingness to work on banks' governance and in particular on risk management, risk appetite and cyber risk;
Amendment 169 #
2015/2221(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Believes that the homogenisation of supervisory practices and standards within the euro area is a key objective for the SSM in order to ensure a true level playing field; in this respect, welcomes the agreement on a single implementation of national options and discretion for the euro area; considers that such a single implementation requires a gradual approach and should aim to address all existing barriers and segmentations; stands ready to cooperate at the legislative level to further improve regulatory and supervisory harmonisation; urges the Commission to use regulations, applicable directly and to all throughout the EU, as the legislative tool to ensure harmonised implementation across the EU and the Banking Union rather than directives;
Amendment 214 #
2015/2221(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Welcomes the efficient and open way in which the ECB has so far fulfilled its accountability obligations towards Parliament and calls upon the ECB to continue to fully engage in this regard and to further contribute to improving Parliament’s capacity to assess SSM policies and activities; views favourably the willingness of the ECB President to further cooperate with the European Parliament regarding the ECB's role in banking matters in the framework of global standards setting bodies, in particular the Financial Stability Board; is aware that this would require a renewed effort from the ECON committee to follow these issues;
Amendment 223 #
2015/2221(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Welcomes the credibility of the SSM on the international stage; considers it fundamental that the SSM is properly involved in the design of global regulatory standards, in particular the orientations negotiated within the Financial Stability Board and the Basel Committee on Banking Supervision;
Amendment 344 #
2015/2221(INI)
Motion for a resolution
Paragraph 40
Paragraph 40
40. Welcomes the Commission’s announcement regarding the presentation of a legislative proposal for the first steps towards a European Deposit Insurance Scheme (EDIS) by establishing a reinsurance mechanism at EU level for the national deposit guarantee schemes, considers it vital to agree on a scheme that would not create any distortion between the different banking models; in parallel it is essential to work to reduce risks, including those linked to sovereign debt and banks' governance;
Amendment 355 #
2015/2221(INI)
Motion for a resolution
Paragraph 40 a (new)
Paragraph 40 a (new)
40a. Recalls that the role of the Commission is to guarantee a level playing field across the European Union and that it should avoid any fragmentation within the internal market;
Amendment 69 #
2015/2147(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Considers as a priority the development of a simplified online VAT system to reduce compliance costs for small and innovative companies operating across Europe; Calls in addition on the Commission to facilitate exchange of best practices between tax authorities and stakeholders to develop appropriate solutions for payments of taxes in the sharing economy.
Amendment 96 #
2015/2147(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Believes that digital payment services are crucial to the economy; calls on the Commission to remove any barriers to paying online in the Union and to ensure that all commercial EU websites that accept payment services such as online banking and credit cards do not discriminate on the basis of the Member State of registration of these payment services;
Amendment 200 #
2015/2147(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Believes that better regulation should help to examine policy through a digital lens and facilitate the adaptation of legislation and enforcement frameworks in the light of new technologies and new business models to prevent fragmentation of the single market; calls on the Commission to apply a technology neutral innovation principle to all future legislation in order to make sure this legislation will provide room for innovation; calls on the Commission to present a strategy on reviewing existing legislation according to the same innovation principle;
Amendment 246 #
2015/2147(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses the urgent need for the Commission and Member States to promote a more dynamic economy for innovation to flourish and for companies to scale up, through the development of e- government, a modernised regulatory framework fit for the emergence and scale- up of innovative businesses, improved access to finance for start-ups and SMEs, and a long term investment strategy in infrastructure, skills, research and innovation;
Amendment 286 #
2015/2147(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the Commission, in cooperation with Member States, to further develop initiatives to boost entrepreneurship that range from changing the mind-set on how success is defined to promoting an entrepreneurial and innovation culture, including business model innovation; believes, in addition, that the diversity and specific attributes of the different national innovation hubs could be turned into a real competitive advantage for the EU if they are effectively interconnected;
Amendment 394 #
2015/2147(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Believes that cross-border E- commerce and a digital economy can only flourish if non-digital trade barriers are also successfully addressed in the internal market, such as rules regarding labelling or warranty terms;
Amendment 399 #
2015/2147(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Stresses the importance for consumers to be better informed of the use of their data, in particular in the case of free services;
Amendment 494 #
2015/2147(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for an ambitious enforcement framework for the Services Directive; encourages the Commission to make use of all means at its disposal to ensure the full and correct implementation of existing rules, including developing enforcement guidelines to ensure, in particular ,uniform application of the mutual recognition principle in the field of services and fast-track infringement procedures whenever incorrect or insufficient implementation of the directive is identified;
Amendment 528 #
2015/2147(INI)
Motion for a resolution
Paragraph 15 b (new)
Paragraph 15 b (new)
15b. Emphasizes that increased competition on the parcel delivery market will lead to more efficient, affordable and expeditious services; calls on the Commission to ensure a sufficient level of competition when deliberating on a revision of the regulatory framework of parcel delivery;
Amendment 529 #
2015/2147(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Calls on the Commission to share best practices regarding logistic chains, especially when development was supported by existing European programs, in order to drive down costs and make them more efficient and lower their environmental impact;
Amendment 530 #
2015/2147(INI)
Motion for a resolution
Paragraph 15 c (new)
Paragraph 15 c (new)
15c. Calls on the Commission to actively share best practices among member states in order to create the right conditions for a sufficiently flexible labour market to support the possibilities offered by e- commerce and related services;
Amendment 672 #
2015/2147(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19b. Reminds the commitment of Member states to at least reach by 2020 the broadband targets of full deployment of superfast speeds (30 Mbps); calls on the Commission to evaluate if the current broadband targets meet the conditions to the development of a data-driven economy and if investments in Member States are part of a long term and future-proof investment strategy;
Amendment 687 #
2015/2147(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Stresses the importance of a successful implementation of EFSI in targeting projects with higher-risk profiles to maximise investments in digital infrastructure and better attract private investments for innovative companies; a particular focus should be given to information and support of innovative entrepreneurs, at the different funding stages of development of the company;
Amendment 723 #
2015/2147(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses that since the development of over-the-top services has increased demand and competition among services to the benefit of consumers, modernisation of the telecommunication framework should not lead to more regulatory burdens, but should drive innovation and fair competition and ensure fair access to the networks;
Amendment 770 #
2015/2147(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Stresses that the uniform enforcement of the Connected Continent package, including the end of roaming surcharges and the net neutrality principle, requires the establishment of a single European telecommunications regulatornet neutrality principle and the end of roaming surcharges, is essential to the functioning of the single market ;
Amendment 791 #
2015/2147(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Calls on the Commission, in order to deepen the internal market for telecommunications, to establish a single European telecommunications regulator through a strengthening of the role and decisions of BEREC, in particular in enforcement of EU telecommunication rules, oversight of the single market and crossborder disputes ;
Amendment 800 #
2015/2147(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Stresses that the European Digital Single Market should make daily life easier for the end consumer; therefore, calls on the Commission to solve the problem of the cross-border handover of telephone calls, so that consumers will be able to perform uninterrupted telephone calls when crossing borders in the Union;
Amendment 858 #
2015/2147(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Appreciates the Commission’s initiative to analyse the role of platforms in the Digital Economy as part of the upcoming Internal Market StrategyDigital Single Market Strategy that should aim at identifying specific and defined problems within specific business areas; Stresses that taking a "one size fits all" approach in light of the diversity of platforms, and the growth potential in particular of B2B platforms, could seriously impede innovation;
Amendment 926 #
2015/2147(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Considers, in order to ensure trust in digital services, that increased resources from the public and private sector are required to strengthen the security of IT systems and online networks and the encryption of communication, to improve cyber-attack prevention and to increase knowledge of basic security processes among users of digital services; in addition, requirements should be set for companies to have basic levels of security such as encrypting data and updating software;
Amendment 935 #
2015/2147(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26a. Stresses the importance of cyber security for critical infrastructures in a globally connected environment, both against private and public threats, and calls on ENISA to play an increasingly important role in the prevention of and defence against cyber-attacks;
Amendment 1 #
2015/2132(BUD)
Draft opinion
Paragraph 1
Paragraph 1
1. Underlines that, in order to optimise the European budget, the funding planned for the transport sector is justifiablyshould give rise to a transversal approach, as it is linked to other policies such as cohesion, competition and security, and, environment and research; notes that transport infrastructures are at the service of the overall development of the European Union; recommends using forward-looking economic measurefundamental to the freedom of movement of persons, goods and services on which the single market project is bas a contribution to a real structural evolution of the European economy; points out that all Member States recognised, during the discussion on the Juncker Plan, that investments in strategic infrastructure contribute to the growth and, thed, and that this freedom of movement is both a powerful catalyst for EU integration and a key factor in the perefore, cannot be slowed down by the Stability Pactmance of European trade and industry.
Amendment 4 #
2015/2132(BUD)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Stresses, given that the priority aim of European policies is to bring about a recovery in growth and jobs, that infrastructure projects contribute to that recovery both directly – through the jobs created on project sites – and indirectly, through the use and maintenance of this infrastructure and more widely by boosting the competitiveness of the regions concerned; welcomes the fact that, in the discussions on the Juncker plan, all the Member States supported this approach and took the view that investments in strategic infrastructure should not be penalised by the Stability Pact.
Amendment 6 #
2015/2132(BUD)
Draft opinion
Paragraph 2
Paragraph 2
2. Takes note that the agreement on European Fund for Strategic Investments (EFSI) results in cuts in the Connected Europe Facility (CEF); reminds in this regard that there will be an inevitablwelcomes the initiative seeking to boost the involvement of the private dsecrease in investment in some specific areas, since they are less attractive for private investors, by their nature; reminds, for exampltor in funding transport projects by means of innovative financial instruments; notes, however, that some projects are less attractive for this type of operator as they yield too low or uncertain a return on investment; stresses, therefore, that though investments in railways and inland waterways produce substantial socio-economic and environmental benefits, they are rather less profitable and need grants for their implementation; emphasises that coordination is need, whatever the funding method adopted, to ensure that those projects of high European added value shall be reintroduced through the Juncker Plan or just EFSIhat the contribution from the EU budget must concentrate on projects of high European added value.
Amendment 8 #
2015/2132(BUD)
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses the importance of TEN-T not only as nodal points of connection within Europe, but also as a chance to launch the individual domestic markets; underlines therefore that the CEF should be valued as a system of funding not only for infrastructures but for European policies as a wholein moving towards a safe, sustainable, modern and efficient single European transport area; notes that EUR 13 billion were granted by the CEF in the transport sector following the call for projects that closed last March, while some EUR 32 million in funding had been applied for; regrets that many high-quality projects that met the eligibility criteria could not be adopted owing to a lack of available funds; calls on the Commission and the Member States to fully exploit the opportunity offered by next year’s review of the 2014-2020 multiannual financial framework to top up the budget allocated to the CEF.
Amendment 14 #
2015/2132(BUD)
Draft opinion
Paragraph 4
Paragraph 4
4. Recommends putting greater attention to transport policies reStresses the vital role platyed toby ports and airports, as they in promoting the competitiveness through the opening of Europeof the European Union by linking it to the rest of the world; underlines the need for a rational European policy that enhances specificity of particularly portheir assets and their geographical location; believes that the improved intermodal connections and interconnectivity will prove enormous potential ofshould make it possible to facilitate trade with these hinvestmentsterland and make our transport system more sustainable.
Amendment 20 #
2015/2132(BUD)
Draft opinion
Paragraph 5
Paragraph 5
5. Draws attention to the forthcoming adoption of the fourth railway package which provides for greater coordination between national safetthe European Railway aAgencies and the European Railway Agency in order to make procedures, timing and resources more efficient; moreover, recalls the importance of investingy to have a greater role in terms of certification and marketing authorisation in order to make procedures, timing and resources more efficient; stresses the need to provide the Agency with adequate financial, human and logistical resources to carry out these new tasks; moreover, recalls that this package must form part of a more wide-ranging action plan to enhance the attractiveness of the railway sector; takes the view, therefore, that it is important to invest more in the development of the European Rail Traffic Management System (ERTMS) with a single European and interoperable standard and to implement without delay the Shift2Rail Joint Undertaking.
Amendment 30 #
2015/2132(BUD)
Draft opinion
Paragraph 6
Paragraph 6
6. Underlines the strategic importance of the Single European Sky as the main instrument to ensure safety, competitiveness and protection of the citizens’ rights; recommends in this regard that CEF shouboth for responding to users’ quality requirements and for enhancing the competitiveness of our airlines; recommends in this regard that the European Union should provide sufficient resources for its technology pillar SESAR, via CEF and the research programmes; believes that a number of proposals shortly to be adopted, seeking to enhance the position of European operators in relation to the rest of the world, provide sufficient resources for this programmefor additional tasks to be allocated to the European Air Security Agency; takes the view, therefore, that the share of its resources from the European budget should be at least maintained at present levels and not reduced, even though the private sector also participates in its funding.
Amendment 33 #
2015/2132(BUD)
Draft opinion
Paragraph 7
Paragraph 7
7. Suggests, bearing in mind that there is no direct budgetary line for tourism, using the EU budget for the transport sector as a factor in promoting the tourist attractiveness and competitiveness of the wholcontinuing to take maximum advantage of the opportunities offered by the COSME programme and by the pilot projects and preparatory measures seeking to enhance the tourist attractiveness of the ‘Old Continent’; stresses that an efficient cross- collaboration between the numerous sectors concerned is desirable in this field.
Amendment 45 #
2015/2132(BUD)
Draft opinion
Paragraph 8
Paragraph 8
8. Recommends paying particular attention to transport policy and spending in order to promote accessibility and developmenurban nodal points in the context of Eurban and metropolitan areasopean transport policy; reminds that today more than half of the world population lives in cities, and the trend of this phenomenon is growing; therefore believes that the contribution to an efficient and sustainable urban transport sector is a solid contribution to global growth.
Amendment 21 #
2015/2127(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes the urgent need for an increase in EIB lending activitythe EIB to address the investment gap based on sound economic criteria; calls on the EIB to focus its efforts on more efficient and effective investments combined with attracting and allowing private investment;
Amendment 32 #
2015/2127(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Calls on the EIB to play a complementary role, and not to compete directly with private investors, for instance by moving into pockets where other investors are more reluctant to move into;
Amendment 33 #
2015/2127(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Calls on the EIB to act in a market conform way so as to create an equal level playing field for other investors;
Amendment 34 #
2015/2127(INI)
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Calls on the EIB to become less bureaucratic and remove barriers in its procedures so that it can adapt faster to the changing needs of the economic and investment ecosystem;
Amendment 56 #
2015/2127(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Takes note of the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects in strategic sectors, countries in adjustment programmes and regions which have difficulties in attracting funding because of their high risk environment as defined within the mandate of EFSI;
Amendment 86 #
2015/2127(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls on the EIB to refrain from cooperating with financial partners with a negative track record and to enforce prevention measures against tax havens, fraud and evasion as well as aggressiveillegal tax avoidance and tax evasion;
Amendment 95 #
2015/2127(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Calls on the EIB to re-evaluate the private- public partnerships in terms of their profitability for the relevant economies and societies and to examine alternative methods of funding, possibly through increasing public investments;strengthen the know-how base for governments, regions, cities and municipalities to participate in PPP structures.
Amendment 113 #
2015/2127(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Calls on the EIB to further enhance transparency and access to information both internally and for the publicbodies who democratically control the EIB, especially regarding the selection, monitoring and evaluation of activities and programmes;
Amendment 15 #
2015/2113(INI)
Motion for a resolution
Citation 34 a (new)
Citation 34 a (new)
– having regard to its resolution of 5 February 2014 on a 2030 framework for climate and energy policies,1 a __________________ 1a Texts adopted, P7_TA(2014)0094
Amendment 31 #
2015/2113(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the Member States aran enhanced coordination and oversight of national policies with regard to energy within the Member States is vital, while respecting the exclusively competentce for defining their national energy mix, and the Commission must not encroach upon this competence by passing EU laws that discriminate against certain energy resources to the advantage of othin order to ensure a fully functional internal energy market, strengthen energy security and deliver cost competitive energy to consumers;
Amendment 58 #
2015/2113(INI)
Motion for a resolution
Recital C
Recital C
C. whereas measures for developing the Energy Union and achieving the 2030 climate targets must take full account of the impacts on energy prices, costs and the competitiveness of the EU economy in order to get the necessary support from ciand energy targets offer significant opportunities for both EU business and consumers if implemented correctly, in terms of reducing overall energy costs, boosting competizveness and industrydelivering cost savings to consumers;
Amendment 73 #
2015/2113(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas climate change, uncompetitive energy prices and an extremely high dependency on unreliable third country suppliers are threatening the sustainability of Europe's energy system;
Amendment 112 #
2015/2113(INI)
Motion for a resolution
Recital G
Recital G
G. whereas the EU imports more than half of all the energy it consumes, its import dependency is particularly high for crude oil (more than 90 %) and natural gas (66 %), and the total import bill is more than EUR 1400 billion per dayyear; Whereas buildings are responsible for more than 40% of all EU energy consumption, consuming 61% of all gas imported into the EU;
Amendment 124 #
2015/2113(INI)
Motion for a resolution
Recital H
Recital H
H. whereas many countries are heavily reliant on a single and often unreliable supplier, including some that rely entirely on Russia for their natural gas and others that heavily rely on Northern Africa, which leaves them vulnerable to supply disruptions, whether these are caused by political or commercial disputes, or infrastructure failure;
Amendment 135 #
2015/2113(INI)
Motion for a resolution
Recital J
Recital J
J. whereas the 2006, 2009, 2014 and 200915 gas disputes between Russia and transit- country Ukraine left many EU countries with severe shortages;
Amendment 153 #
2015/2113(INI)
Motion for a resolution
Recital O
Recital O
O. whereas ex-post assessment and verification of all energy-related agreements as regards compliance with EU law is already possible through, inter alia, competition and energy regulations; whereas insufficient ex-ante compliance checks at national and EU level lead to severe market distortions; whereas the Commission has recognised these shortcomings and has undertaken to strengthen the levels of oversight of such IGAs between Member States and third countries;
Amendment 164 #
2015/2113(INI)
Motion for a resolution
Recital P
Recital P
P. whereas 30 million European jobs are at risk owing to the US shale gas boom, as energy-intensive industries move operations to the US, wherewill always be at risk so long as European industry fails to remain competitive, and therefore any improvements to industrial energy efficiency helping to reduce overall energy costs are far lowervital;
Amendment 177 #
2015/2113(INI)
Motion for a resolution
Recital Q a (new)
Recital Q a (new)
Qa. whereas competitive energy prices are crucial to achieve the EU's 20% reindustrialisation targets by 2020;
Amendment 189 #
2015/2113(INI)
Motion for a resolution
Recital S
Recital S
S. whereas, notwithstanding its global dominance in investment in renewable energy, the World Energy Outlook 2014 predicts global energy demand to grow by 37 % and global coal demand by 15 % by 2040; Whereas in the EU, the increase is projected to be significantly lower due to highly successful energy efficiency improvements;
Amendment 193 #
2015/2113(INI)
Motion for a resolution
Recital T a (new)
Recital T a (new)
Ta. whereas the EU energy retail market does not function properly at present; whereas in many member states monopoly networks remain active and many consumers have too little choice between energy suppliers;
Amendment 198 #
2015/2113(INI)
Motion for a resolution
Recital T a (new)
Recital T a (new)
Ta. whereas a strong interlink between the implementation of the EU regulatory framework and the application of the EU competition policy are required to solve the issues of market concentration, weak competition and fragmentation in the internal energy market ;
Amendment 205 #
2015/2113(INI)
Motion for a resolution
Recital U
Recital U
U. whereas better interconnection levels and upgrading of national networks for electricity and gas will increase energy security while balancing supply and demand between the Member States;
Amendment 234 #
2015/2113(INI)
Motion for a resolution
Recital Y
Recital Y
Y. whereas diversification of supplies, the completion of the internal energy market, energy efficiency as a contribution to moderation of demand, more efficient energy consumption, the development of indigenous energy resources and R&D activities are the key drivers of the Energy Union;
Amendment 248 #
2015/2113(INI)
Motion for a resolution
Recital Z a (new)
Recital Z a (new)
Za. whereas a reformed EU ETS is an important tool in decarbonising Europe's energy system and achieving the Union's long term emission reductions target;
Amendment 256 #
2015/2113(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission communication entitled ‘'A Framework Strategy for a Resilient Energy Union with a Forward-Looking Climate Change Policy'; Notes the 5 pillars of Energy Union outlined by the Commission; Insists that policies pursued under these pillars, must always contribute to ensuring security of energy supply, decarbonisation and long term sustainability of the economy, and delivering affordable and competitive energy prices;
Amendment 262 #
2015/2113(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Emphasises that the only way to achieve energy security while at the same time keeping energy prices affordable and reaching our climate goals is to create a sustainable energy landscape, based on a high degree of energy efficiency, renewable energy and a smart infrastructure; stresses, moreover, that the right actions need to be taken today in order to bring about this transition for future generations;
Amendment 279 #
2015/2113(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission to actively pursue the diversification of supply (energy sources, suppliers and routes); to this end, calls on the Commission to promote the construction of the relevant energy infrastructure priority corridors, as specified in Annex I to the trans-European energy networks (TEN-E) regulation and Part II of the Annex I to the Connecting Europe Facility (CEF) regulation, such as the Southern Gas Corridor, and to facilitate the interconnection of existing gas hubs with constructed pipelines such as the Eastring;
Amendment 282 #
2015/2113(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission to actively pursue themore sustainable and competitive energy prices for European citizens and businesses and diversification of supply (energy sources, suppliers and routes); to this end, calls on the Commission to promote the construction of the relevant energy infrastructure priority corridors, as specified in Annex I to the trans-European energy networks (TEN-E) regulation and Part II of the Annex I to the Connecting Europe Facility (CEF) regulation, such as the Southern Gas Corridor;
Amendment 295 #
2015/2113(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that all EU infrastructure projects aimed at diversifying energy sources, suppliers and routes must be fully in line with EU legislation and EU energy security priorities; Believes that the development of renewable energy sources is central to the Energy Union, taking into consideration energy costs; stresses the importance of developing cross-border infrastructure and of enhancing research and innovation in developing smarter energy grids and new energy storage solutions as well as flexible generation technologies for the integration of renewables;
Amendment 307 #
2015/2113(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Underlines that energy suppliers coming from third countries must be subject to the EU acquis while operating on the common market, in particular the EU competition and state aid legislation, and calls on the Commission to enforce EU law by all means available in order to allow energy to flow freely in the EU and prevent distortions in the internal market;
Amendment 314 #
2015/2113(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Stresses that it is of upmost importance to the EU to end the isolation of some Member States from the internal energy market, as demonstrated by the gas stress tests carried out by the Commission; calls on the Commission, in this regard, to carry out such tests every two years; Recommends that the Commission consider carrying out "electricity stress tests", in order to build an overview of the resilience of the entire energy market situation; Highlights that such stress tests should identify in particular the status, capacity and durability of the entire national transmission network as well the level of interconnection and cross border capacity, and that subsequent recommendations based on such stress tests must include full impact assessments of both national plans and union objectives in addressing any action points arising from them;
Amendment 331 #
2015/2113(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that, in the context of the future Energy Union, security of energy supply isand European competitiveness are the most pressing issues and that Member States must coordinate and cooperate in this respect with their neighbours when developing their energy policies; calls on the Commission, in this respect, to examine how the current architecture of national preventive and emergency response measures could be streamlined at both regional and EU level;
Amendment 353 #
2015/2113(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls on the Commission to support those Member States that wish to negotiate energy contracts on a voluntary basis by introducproposing a common negotiating mechanism, and stresses that the functioning of such a mechanism must be subject to compliance with the EU internal market acquis and with EU competition and World Trade Organisation rules and provide for protection of commercially sensitive information;
Amendment 365 #
2015/2113(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that greater transparency of intergovernmental agreements could be achieved by strengthening the role of the Commission in energy-related negotiations involving one or more Member States and third countries, including by having the Commission participate in those negotiations if there is a risk of abuse of a dominant position by one supplier; notes that furthermore the Commission should carry out ex-ante and ex-posimpact assessments and draw up- while fully respecting commercially sensitive information and suggest both a positive and a negative list of agreement clauses, such as export ban and destination clauses;
Amendment 366 #
2015/2113(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that greater transparency of intergovernmental agreements could be achieved by strengthening the role of the Commission in energy-related negotiations involving one or more Member States and third countries, including by having the Commission participate in those negotiations if there is aan advisory capacity in those negotiations in order to mitigate the risks of abuse of a dominant position by one supplier; notes that furthermore the Commission should carry out ex-ante and ex-post assessments and draw up both a positive and a negative list of agreement clauses, such as export ban and destination clauses;
Amendment 386 #
2015/2113(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls on the Commission to enhance the transparency of commercial gas contracts in order to effectively remove abusive clauses and ensure better ex-ante compliance checks with EU law and energy security provisions; Underlines that such enhanced transparency will increase the negotiating power of Member States and their commercial enterprises, and will help to ensure a more market based approach to international energy agreements, while fully respecting commercially sensitive information;
Amendment 390 #
2015/2113(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls on the Commission to prepare draft contract templates and guidelines including an indicative list of abusive clauseclauses relevant to Union interests in order to create a reference for competent authorities and companies in their contracting activities; Calls on the Member States to increase their cooperation on the information exchange mechanism with regard to intergovernmental agreements (IGAs) with third countries in the field of energy, in order to increase transparency and leverage their negotiating power vis- à-vis third countries, thereby securing more affordable energy for European consumers;
Amendment 393 #
2015/2113(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 398 #
2015/2113(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that in order to ensure a level playing field and strengthen the bargaining position of EU companies vis-à-vis external suppliers, key features of the contracts should be aggregated and regularly published so as to establish a transparent benchmark which can be referred to by competent authorities and companies in their future negotiations, whilst protecting the confidentiality of sensitive information, thereby ensuring a more market based approach and genuine competition in energy contracts and avoiding abuse of dominant positions by third countries;
Amendment 414 #
2015/2113(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the Commission to establish an EU-wide target and develop concrete actions for reducing energy import dependency and to publish regular progress reports in this respect;
Amendment 424 #
2015/2113(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Believes that diversity in the energy mixes of Member States, based on their respective potential, experience, know-how and economic costs and needs, is an asset to the EU as a whole, since it strengthens its resilience to supply disruptions, enables it to make cost-optimal energy choices and allows different technologies to develop and compete on the market, thereby driving down the costs of energy; Insists however, that national diversity must not represent a barrier to the single market, and Member States must fully comply with state aid rules, make appropriate investments in their domestic transmission infrastructures, and ensure high levels of interconnectedness and resilience in their national energy systems in order to deliver on the Unions energy security and market objectives;
Amendment 449 #
2015/2113(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Believes that the Union can reduce its dependency on particular suppliers and fuels by increasing energy efficiency in industry, transport and buildings (both in the public and private sector as well as domestic homes) as well as maximising its use of indigenous sources of energy, including conventional and unconventional low-emission fossil fuels and renewables, and therefore stresses that no fuel or technology contributing toin particular renewables, in line with the EUs energy security and climate goals should be discriminated against;
Amendment 464 #
2015/2113(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Believes that indigenous resources, both conventional and unconventional, which have the potential to increase the EU's energy security of supply should be fully tapped while considering specificities of Member States and cost-effectiveness, and that unnecessary regulatory burdens on the entities willing to invest in these fields must be avoided;
Amendment 465 #
2015/2113(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Believes that indigenous resources, both conventional and unconventional, which have the potential to increase the EU's energy security of supply should be fully tapped and that unnecessarmay be considered by Member States in so far as they fully respect the relevant environmental, public health and safety rleguislatory burdens on the entities willing to inveion and contribute to the EUs overall climate, sust ain these fields must be avoidedability and security objectives;
Amendment 485 #
2015/2113(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls on the Commission to facilitate the effective use of existing EU funding schemes, including the European Fund for Strategic Investments, so as to support investment in the development of Europe's indigenous energy resources, based on a technology-neutral approachn approach which prioritises the internalisation of external costs; Considers that subsidies and the non- internalisation of externalities distort the market, and therefore calls on the Commission to ensure a level playing field so as to provide a clear investment signal for sustainable investments, as well as the phasing-out of the most polluting and dangerous forms of power generation;
Amendment 496 #
2015/2113(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls on the Commission, and in particular DG TRADE, to continue to press for a dedicated energy chapter within the Transatlantic Trade and Investment Partnership (TTIP), with a view to removing US export restrictions on both crude oil and liquefied natural gas (LNG) and eliminating protectionist measures, which could contribute to developing a more competitive environment for European business by reducing the discrepancy in energy costs on both sides of the Atlantic;
Amendment 506 #
2015/2113(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls on the Commission and the Member States to strengthen the Energy Community through, inter alia, better implementation and enforcement of EU law, in particular through better governance, streamlining of procedures and better use of IT tools aimed at reducing administrative burden, enhancing its institutions and implementing key infrastructure projects in order to ensure better integration with the EU energy market and security of supply mechanisms;
Amendment 526 #
2015/2113(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Recognises that there is currently no single market for energy in Europe, and that the resulting fragmentation within the EUs energy markets is deeply harmful to Europe's competitiveness and energy security;
Amendment 545 #
2015/2113(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that the backbone of the future Energy Union must be a fully functioning internal energy market that delivers secure, competitive and sustainable energy to enable EU companies and consumers to access gas and electricity in the most efficient and cost-effective way possible; Stresses in this respect that electricity interconnections should be designed for cross-border trading on a daily basis and not only to cover peak loads ;
Amendment 546 #
2015/2113(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that the backbone of the future Energy Union must be a fully functioning internal energy market that delivers secure, competitive and sustainable energy to enable EU companies and consumers to access gas and, electricity, heating and cooling in the most efficient and cost-effective way possible;
Amendment 550 #
2015/2113(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Underlines the positive impact that market integration has had on wholesale prices, and eventually retail prices, in the electricity sector; Considers that the review of the electricity market design needs to better link wholesale and retail markets, contributes to removing barriers in retail and wholesale markets and to providing choices between energy suppliers for consumers;
Amendment 556 #
2015/2113(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Keeping in mind that an important goal of the EU internal energy market is achieving sustainable energy prices for citizens and competitive energy prices for enterprises; stresses, for that reason, that a better functioning of the EU energy retail market should be effectuated by ending existing energy monopolies and by providing for free choice between energy suppliers for consumers;
Amendment 565 #
2015/2113(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Highlights that in order to strengthen our emergency energy solidarity and resistance to supply disruptions, both gas and electrical energy must be exportable at all times; Notes in this regard that current systems of cross border transmission are often hampered by decisions of national transmission operators; calls therefore on ACER to put more emphasis on this issue in its annual market monitoring report and the Commission to ensure that European Transmission operators act as a single one;
Amendment 569 #
2015/2113(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Reiterates the importance of ownership unbundling as put forward by the Third Energy Package; calls on the Commission to assess to which degree national regulatory authorities (NRAs) enforce the conditions described in the opinions given by the Commission on the certification of transmission system operators (TSOs);
Amendment 572 #
2015/2113(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Calls on the Commission to reinforce the competences and independence of ACER, ENTSO-E and ENTSO-G to ensure that they have the appropriate tools to oversee the functioning of the internal market, the free flow of energy across borders and to ensure infrastructures are built in an EU-wide perspective of crossborder trading;
Amendment 594 #
2015/2113(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses the need for full implementation and enforcement of existing EU energy legislation, the removal of derogations to the third energy package, and for a swift adoption and implementation of ambitious European network codes and guidelines, which must go hand in hand with strengthening the competences of the Agency for the Cooperation of Energy Regulators (ACER), the European Network of Transmission System Operators for Electricity (ENTSO-E) and the European Network of Transmission System Operators for Gas (ENTSO-G);
Amendment 595 #
2015/2113(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses the need for full implementation and enforcement of existing EU energy legislation and for a swift adoption of ambitious European network codes and guidelines, which must go hand in hand with strengthening the competences of the Agency for the Cooperation of Energy Regulators (ACER) in cross-border affairs in line with the EU primary legislation, the European Network of Transmission System Operators for Electricity (ENTSO-E) and the European Network of Transmission System Operators for Gas (ENTSO-G);
Amendment 610 #
2015/2113(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses that a properly designed future model of the electricity market in the EU must aim at a more market-based and optimal, from the point of view of network security, integration of renewable energy sources; Notes in this regard the need for common standards for smart grids, as a key element in ensuring a stable supply and free flow of energy across borders and contributing to energy security; Furthermore, highlights the role that developing smarter energy grids and new energy storage facilities can play increasing the level of RES on a European scale and ensuring that such infrastructure is developed in conjunction with regional RES hubs;
Amendment 629 #
2015/2113(INI)
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
24b. Calls on the Commission and Member States to take investment in smaller scale gas and electricity interconnectors linking neighbouring regions equally serious as larger PCIs; calls on the Commission and Member States to work closely together with regional authorities when developing these interconnectors;
Amendment 632 #
2015/2113(INI)
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
24b. Reminds that Energy Union must help increase the availability of finance for infrastructure projects; Highlights in this regard the role that the EFSI (Juncker package), must play in ensuring that energy infrastructure projects are attractive to private investors with stable regulatory conditions and clearly identifiable medium to long term pay-off, particularly by minimising bureaucracy and encompassing an expedient application and approval process;
Amendment 633 #
2015/2113(INI)
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
24b. Welcomes the European Council's proposal for a minimum level of electricity interconnection between Member States of 10 % by 2020 and 15 % by 2030; Underlines the importance of Member States' policies acting in a complementary manner to better functioning of the internal market and strengthening interconnection of transmission networks; Emphasises that attention must be given also to the internal capacity and durability of national transmission networks as well the level of interconnection and cross- border capacity in order to ensure that member states are not made vulnerable by under capacity or outdated technology in transmission and distribution systems in neighbouring and transit countries; Reiterates that subsequent recommendations must include full impact assessments of both national plans and union objectives in this regard;
Amendment 651 #
2015/2113(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Calls on the Member States and the Commission to concentrate their efforts on driving projects of common interest (PCIs) forward, with a view to achieving a pan- European ‘'super grid' with the capacity to transmit power across EU countries from multiple sources and therefore capable of diverting energy from surplus to deficit areas, thereby allowing the market to instantly respond to interruptions of supply wherever they occur; Further stresses that such efforts must focus particularly on resolving the problems arising from existing energy islands;
Amendment 661 #
2015/2113(INI)
Motion for a resolution
Paragraph 25 b (new)
Paragraph 25 b (new)
25b. Calls on the EU institutions to improve business and investment conditions on the Internal Market also via better, smarter and more simple regulation;
Amendment 665 #
2015/2113(INI)
Motion for a resolution
Paragraph 25 b (new)
Paragraph 25 b (new)
25b. Stresses that the Energy Union should also contribute towards an "Energy Investment Union", ensuring that the more than €1trillion of investment required in the coming years in order to revitalise Europe's economy must come predominantly from private investors, and as such represents opportunities for large investors, as well as individual consumers and private citizens; Notes that in order to create an environment which facilitates and makes the best use of private finance, investor certainty is key; Insists that such a stable framework can only be achieved through a strong governance system which guarantees a level playing field, stable regulatory conditions, and fosters confidence in the private sector;
Amendment 667 #
2015/2113(INI)
Motion for a resolution
Paragraph 25 b (new)
Paragraph 25 b (new)
25b. Believes that in view of the vast investment needs for ageing and inadequate distribution grids and the majority of renewable energy sources being connected at distribution grid level, specific initiatives to foster DSO investments including financial instruments should be considered by the Commission and the Member States; Strongly recommends that such investments be prioritised by Member States;
Amendment 681 #
2015/2113(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Supports regional approaches where there are particular regional challenges or opportunities, or where acting regionally could speed up market integration with the aim of an EU wide internal energy market, including through the creation of regional hubs to enhance market liquidity;
Amendment 700 #
2015/2113(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Points out that in order to successfully balance the internal market, investment is needed not only in interconnectors but also in, inter alia national networks, storage capacity, such as LNG terminals and smart grids, in order to cope with enhanced renewable and distributed generation;
Amendment 712 #
2015/2113(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Stresses the need to create a robust legislative framework that empowers consumers and makes them active participants in the market as investors and stakeholders; notes that consumers' involvement can be strengthened through, inter alia, consumer financial participation, energy cooperatives and, micro- generation andinitiatives and feed in schemes, as well as enhanced transparency of prices and consumer choices; points out that such initiatives could contribute to reducing energy prices and helpa more competitive and well-functioning internal energy market, which, in turn, could help reduce overall consumer energy bills and address serious social problems, such as fuel poverty;
Amendment 713 #
2015/2113(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Stresses the need to create a legislative framework that empowers consumers and makes them active participants in the market as investors and stakeholders; notes that consumers' involvement can be strengthened through, inter alia, energy cooperatives and micro-generation and enhanced transparency of prices and consumer choices; points out that such initiatives could contribute to reducing energy prices and help address serious social problems, such as fuelenergy poverty;
Amendment 720 #
2015/2113(INI)
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28a. Notes that a more decentralised and flexible energy system, with power and heat sources being placed closer to the point of consumption, can facilitate small- scale energy generation and therefore empowers consumers to be more involved in the energy market and control their own energy use, diminishes transmission and distribution losses, improves the resilience of energy infrastructure, and simultaneously provides local business opportunities for small and medium-sized enterprises; calls on the Commission and the Member States, therefore, to facilitate further development and expansion of local and regional renewable energy sources and of local and regional distribution networks and district heating networks through policies that tackle existing barriers and help bring about market transformation; calls on the Commission to propose guidelines on energy self-consumption in order to promote its use and protect the rights of consumers;
Amendment 747 #
2015/2113(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Notes that following the European Council conclusions of 23 and 24 October 2014, post-2020 EU state that an indicative target at the EU level of at least 27% is set for improving energy- efficiency targets must be non-binding and not apply at national levelin 2030 and that this will be reviewed by 2020, having in mind an EU level of 30% and recalls the European Parliament support for a binding energy efficiency target of 40% in this regard; welcomes the commitment of the European Commission to bear in mind the objective of 30% when revising the Energy Efficiency Directive;
Amendment 777 #
2015/2113(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Notes that improvements in energy- efficiency pursued on a cost-effective basis will make a key contribution to energy security, competitiveness and the achievement of climate objectives; stresses, however, that gains in energy efficiency cannot replace diversification of energycalls in this regard for energy efficiency projects to be treated as key infrastructure investments and for such measures to be treated on equal terms with investments in new generation capacity; stresses, however, that gains in energy efficiency must complement diversification of energy supply, and such diversification must include efforts to find the most efficient and sustainable sources of energy in order to contribute to overall security of supply;
Amendment 793 #
2015/2113(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30a. Recognises the benefits of increasing renewable energy in the heat market, in particular in buildings; Stresses the increased flexibility of thermal infrastructure and storage in facilitating the integration of intermittent renewable sources by storing energy in the form of heat; Reiterates that energy security can be increased by development of district heating/cooling networks which are an ideal means of integrating sustainable heat into cities on a large scale since they can simultaneously deliver heat derived from a range of sources and are not inherently dependent on any one source;
Amendment 798 #
2015/2113(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Believes that it will be important to avoid over-prescriptive legislation that can constrain domestic policy choices about howndustry needs clear signals from policy makers in order to make the necessary investments in achieving the EUs energy objectives; therefore highlights the need for ambitious targets and a regulatory framework that promotes innovation without creating unnecessary administrative burden in order to best to promote energy efficiency within a national context;
Amendment 824 #
2015/2113(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Stresses that a caun ambitious revision of existing energy efficiency legislation, including the Energy Performance of Buildings Directive and the Energy Efficiency Directive, is needed in order not to undermine nationalalongside proper implementation of such legislation by Member States, in order to facilitate the achievement of national targets and complement those policies already in place which operate within the 2020 climate and energy framework; calls on the Commission to review the EU energy- efficiency legislation by no sooner than 20182015 as set out in the Annex to the Framework Strategy on Energy Union;
Amendment 847 #
2015/2113(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Acknowledges vital role that local authorities of European cities undoubtedly make an importantin contribution towards energy independence by increasing energy- efficiency through engaging civil society and local residents to find the best local solutions, developing cogeneration, modernising district heating systems, increasing the use of cleaner public transport, encouraging more active travel models and the renovatingon and insulation of buildings;
Amendment 871 #
2015/2113(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Underlines that the only way for the EU manufacturing industry to stay cost competitive is to lead the world in resource and energy efficiency, underlines in this regard the crucial role of renewables in the EU energy mix in attaining its greenhouse gas reduction targets, reduction of overall energy costs and strengthened energy security; Underlines the increasingly important role of energy from renewable sources for securing energy supply in the EU in the long term; draws attention to the fact that the production costs of renewables have considerably dropped in recent years; underlines that, in this regard, the current market design should be improved by fully integrating renewables into the market and introducing cost-reflective balancing prices;
Amendment 896 #
2015/2113(INI)
Motion for a resolution
Paragraph 36 b (new)
Paragraph 36 b (new)
36b. Stresses that achieving the decarbonisation goals depends on the right market conditions for investment in energy efficiency, renewables and smart infrastructures; the Energy Union should prioritise market-based instruments for the promotion of low-carbon energy sources as a means to ensure that the energy transition takes place in the most cost-effective and environmentally friendly way;
Amendment 922 #
2015/2113(INI)
Motion for a resolution
Paragraph 37 a (new)
Paragraph 37 a (new)
37a. Stresses the need to end environmentally harmful subsidies, which need to be identified and phased out urgently, since these subsidies are a waste of scarce public money which are used first for supporting polluting practices and later for cleaning up;
Amendment 935 #
2015/2113(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
38. Stresses that decarbonisation which is not pursued through a technology-neutral approach could result in a drastic increase in energy costs in some Member States, which would lead tothe transition to a competitive and sustainable low carbon economy offers significant opportunities in terms of new jobs, innovation, growth, and lower commercial and domestic energy bills; Recognises however that these opportunities can only be realised through strong cooperation between the Commission, Industry, Member states, local and regional authorities and citizens, leading to the most effective incentives and regulatory frameworks; Notes that decarbonisation should not result in increased energy costs , energy poverty, deindustrialisation of the European economy and a subsequentor rises in unemployment; stresses that it therefore needs to beReiterates therefore that it is a sovereign decision of each Member State on how to decarbonise its economy; in line with the relevant EU targets and all relevant legislation;
Amendment 945 #
2015/2113(INI)
Motion for a resolution
Paragraph 38 c (new)
Paragraph 38 c (new)
38c. Is convinced that the promotion of a circular economy and greater resource efficiency can lead to a significant reduction in greenhouse gas emissions, thereby making a vital contribution to meeting climate and energy challenges;
Amendment 962 #
2015/2113(INI)
Motion for a resolution
Paragraph 39
Paragraph 39
39. Recognises that indigenous energy sources such as nuclear, clean coal technologies and fossil fuels with carbon capture and storage (CCS) would make a fundamental contribution to EU energy security and decarbonisation, with shale gas facilitating the transition to a low- emission economy; believes, in this respect, that the Energy Union must reflect the need for the EU to use all low and lower emission sources at Member States' disposalMember States to develop their energy policies within the framework of Energy Union with these objectives in mind;
Amendment 963 #
2015/2113(INI)
Motion for a resolution
Paragraph 39
Paragraph 39
39. Recognises that indigenous energy sources such as nuclear, clean coal technologies and fossil fuelhigh efficiency fossil fuel technologies with carbon capture and storage (CCS) would make a fundamental contribution to EU energy security and decarbonisation, with shale gas facilitating the transition to a low- emission economy; believes, in this respect, that the Energy Union must reflect the need for the EU to use all low and lower emission sources at Member States' disposal;
Amendment 988 #
2015/2113(INI)
Motion for a resolution
Paragraph 40
Paragraph 40
40. Believes that while it is for Member States to determine the best mix of policies and technologies to deliverir energy mix, EU level coordination of policies and technological development is absolutely necessary in order to deliver on Europe's decarbonisation and national climate change targets; recognises that in some areas, such as product standards, EU-level policies are the most effective, while in others Member States may choose to work togetherand that in many other areas such as infrastructure development, close cooperation and coordination between Member States is crucial;
Amendment 998 #
2015/2113(INI)
Motion for a resolution
Paragraph 41
Paragraph 41
41. Calls on the Commission to put forward proposals for establishing a Modernisation Fund, which should have strict criteria and guidance to ensure that funding is targeted at genuine energy modernisation projects, which would be selected based on a technology-neutral approach and on whether they are demonstrably consistent with attainment of the EU's 2030 and 2050 greenhouse gas objectives, and energy security objectives;
Amendment 1008 #
2015/2113(INI)
Motion for a resolution
Paragraph 42
Paragraph 42
42. Calls on the Commission and the Member States to ensure that the development of the Energy Union takes due consideration of requirements forensures environmental protection, biodiversity and the competitiveness of European industry;
Amendment 1022 #
2015/2113(INI)
Motion for a resolution
Paragraph 43
Paragraph 43
43. Calls on the Commission and the Member States to undertake common efforts in order to bring down wholesale andend-user retail gas and energy prices by 20 % by 2020;
Amendment 1062 #
2015/2113(INI)
Motion for a resolution
Paragraph 44
Paragraph 44
44. Calls on the Commission to intensify its research efforts regarding the better use of Europe's indigenous resources, both conventional and unconventional including the market uptake and deployment of energy efficient technologies;
Amendment 1074 #
2015/2113(INI)
Motion for a resolution
Paragraph 44 a (new)
Paragraph 44 a (new)
44a. Stresses that research, science and innovation are essential for a swift transition to a low carbon economy and for the competitiveness of European companies; Highlights that internationally, the EU should remain a leader in climate action, maintaining our strong position in innovative clean technologies will present substantial economic opportunities as other major economies take action to decarbonise; Notes that continued progress in low carbon innovation is vital for the future of Europe's industrial sector and can make the European Union a world leader in renewables;
Amendment 1097 #
2015/2113(INI)
Motion for a resolution
Paragraph 46
Paragraph 46
46. Believes that greater effort in developing innovative low-emission technologies and solutions, such as CCS, micro-CHP and smart grids, can bring significant long-term benefits in terms of reduced generation costs and reduced energy demand;
Amendment 1104 #
2015/2113(INI)
Motion for a resolution
Paragraph 46 a (new)
Paragraph 46 a (new)
46a. Stresses the added value of integrating ICT in the energy systems to maximize energy efficiency, moderate demand, and lower prices for consumers ; Considers that the digital transformation of the industry as well as the emergence and take up of new ICT technologies such as "Big data" should be part of the EU energy efficiency policy;
Amendment 1140 #
2015/2113(INI)
Motion for a resolution
Paragraph 49 a (new)
Paragraph 49 a (new)
49a. Underlines that Energy Union marks a significant step forward in the way energy policies are coordinated and implemented, and that due to the substantial impact such policies will have on Europe's Energy Security, economic and social landscape and environmental policy, requires an open, transparent and inclusive means of governance; reiterates that the Energy Union hinges upon establishing a robust system of governance which ensures full implementation of the relevant Union law within Member States, guarantees regular reporting and information exchange, and ensures the full participation of the European Parliament; calls in this regard on the Commission to present on an annual basis, a report on the implementation of the policies and projects under the Energy Union Strategy which shall be made public and considered as part of Energy Union implementation scrutiny conducted by the European Parliament and which shall include detailed data from Member States on; – transposition of all relevant EU regulations; – policy and projects implementation; – any shortcomings and problems identified in implementation; – a review of the state of play on implementation of energy union objectives for the preceding year; – a list of actions and targets for the following year as a roadmap to better implementation to be used as part of the report for the following year; Insists that this report be presented to the plenary session of the European Parliament for debate, and is accompanied by a Parliamentary Resolution in ensuring an open and transparent discussion of the progress in this regard;
Amendment 29 #
2015/2112(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses that should other major competitors of the EU's energy-intensive industries fail to make similar commitments on GHG reductions, carbon leakage provisions will be maintained in the long term and strengthened where necessary; Stresses that the most energy- efficient companies in every sector exposed to a high trade intensity and a high share of carbon costs should be fully protected from carbon leakage; considers it vital that sustainable European agribusiness is protected against carbon leakage;
Amendment 61 #
2015/2112(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls on Member States to fully comply with the Commission's State Aid Guidelines for Environmental Protection and Energy 2014-2020, and to opt for a market-based approach if providing public support;
Amendment 6 #
2015/2108(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Acknowledges that renewable energy and increased energy efficiency and sustainable energy mix leading to energy savings are critical means for a stable, secure, and independent and democratic energy system for the EU, which contributes to generatesing high-quality jobs and wealth within a future-oriented sustainable economy; underlines that a higher degree of electricity interconnectivity and smart grids are necessary for developing such a system;
Amendment 15 #
2015/2108(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Recognises that developed and technologically modern electricity interconnection is aone of the preconditions for completfurther developing and integrateding EU internal electricity market, which, if well designed, will also help to achieve our competitiveness and climate objectives and improve the EU's geopolitical position through greater energy security and independence, as well as reduce energy isolation; stresses that the electricity interconnectors also need to be tackled, planned and execuconstructed through strong coordinated regional cooperation;
Amendment 48 #
2015/2108(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Recognises the 10 % target – to be achieved by 2020 – as a valuable target and a step in the right direction; considers, however, that it does not always reflect the market situation and has not been established on the basis of scientific evidence; recalls that the 10 % target was first set in 2002 on the basis of the installed electricity generation capacity that existed at that time; therefore it needs to be stressed that insufficient progress has been made so far and EU-wide efforts will have to be increased; acknowledges that, although the 10 % target is important, it describes neither the quantity of electricity flowing between countries nor the quality, such as the availability of the existing interconnection infrastructure or of the existing national infrastructure between the interconnectors; believes, therefore, that a one-size-fits-all interconnection target based on installed electricity generation capacity is not on its own appropriate for all Member States; emphasis should be put particularly on those Member States which have an especially low level of connectivity;
Amendment 88 #
2015/2108(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Regrets the lack of a transparent decision-making process leading to the establishment of the projects of common interest (PCI) list; regrets further the predominant role of ENTSO-E, transmission system operators (TSOs) and project promoters in the development of a harmonised cost-benefit analysis methodology, in preparing the ten-year network development plans and the network codes, and in evaluating the costs and benefits of each project; recalls the need to provide complete assessments including economic, social and environmental impacts; calls on the Commission, the Agency for the Cooperation of Energy Regulators (ACER) and national regulators to play a more proactive role in order to develop a more neutral, transparent and democratic consultative process, including the effective participation of Parliament and giving voting status to civil society representatives; calls on the Commission to assess the situations in which the use of best available technology (BAT) could be established as a precondition for granting EU funds to projects;
Amendment 97 #
2015/2108(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that projects on the PCI list benefit from preferential regulatory treatment, fast-track planning, a binding, still rather long, time limit of 3.5 years for the granting of a permit and faster environmental assessment procedures, and may also be eligible for extra funding under the Connecting Europe Facility (CEF);
Amendment 131 #
2015/2108(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Supports the Commission's recommendation that the CEF be concentrated on a few key projects; special attention should be given especially to those which would improve connectivity that is currently well below 10%; considers that adequate EU financing should also be made available beyond 2020 to support the implementation of non- commercial electricity connection projects necessary to ensure the functioning of the internal energy market; stresses the importance of the EIB in supporting investors in commercially viable electricity infrastructure projects; notes the establishment of the European Fund for Strategic Investments and encourages the Commission to ensure that the fund effectively attractssupport investments in electricity interconnection projects;
Amendment 139 #
2015/2108(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Urges the Commission, furthermore, to: 1) encourage investments in the best available technology, which, while costlier, offers considerable financial advantages as well as time savings in the long run; 2) conduct a review of the financing rules with the aim of streamlining the existing mechanisms and highlighting the principle that wealthier Member States are responsible for projects involving their countries, while EU financial support should be used in countries facing greater challenges; and 3) strengthen incentives for further investments in the grid by, inter alia, introducing a requirement for profits made from transmission congestion rent to be reinvested in additional interconnectors;
Amendment 154 #
2015/2108(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Notes that planned interconnectors are expected to allow the Baltic States to reach the 10 % goal by 2015; is concerned that the Baltic States' networks are still synchronised with and dependent on the Russian electricity system, which is an impediment for a truly integrated and properly functioning European electricity market; calls for a grapiddual synchronisation of the Baltic States' electricity networks with the Continental European Network in order to ensure full integration in the EU internal electricity market and a higher security of electricity supply; stresses the importance of a coherent electricity infrastructure allowing for electricity to flow freely across borders within the Union; highlights the common Nordic power market as a best practice for cooperation between Member States; acknowledges the importance of higher interconnectivity between Poland and the Nordic electricity market in order for Poland to reach its 10 % target;
Amendment 16 #
2015/2106(INI)
Motion for a resolution
Recital B
Recital B
B. whereas profound changes have occurred, and are still on-going, in all financial sectors, including banking, insurance, securities markets, investment funds and financial market infrastructure;
Amendment 18 #
2015/2106(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses the need to take into account the wider global context; calls for a set of measures to improve the investment climate, attracting capital flows into the EU and restoring the international competitiveness ofinternational regulatory context; in particular when it comes to the timing and substance of legislative proposals to safeguard the international competitiveness of the EU´s financial sector, improve the investment climate of and attract capital flows into the Union;
Amendment 39 #
2015/2106(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the Commission’s Investment Package, including the Capital Markets Union (CMU); stresses that an efficient and effective financial services framework ensuring financial stability is a prerequisite in order to increase (long-term) investment and to foster growth in a competitive European economy; underlines the linkage between economic and financial stability; considers that the CMU should be renamed ‘Union for Financing and Investment’ in order to focus not on the tool but on the aim;
Amendment 41 #
2015/2106(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Welcomes the launch of consultations on the review of the Prospectus Directive and the efforts being made to remove regulatory barriers to access to securitisation; underlines, in particular, the need to open up financial markets to SMEs and Midcaps; supports broadening the funding options available for SMEs and Midcaps; calls in this respect to consider 'SME benchmarks' enabling banks to compare and price credit, instead of the less realistic SME credit registry; calls for improved access to long-term financing and for the development of a pan-European private placement market promoting venture capital, as well as alternative instruments such as peer-to-peer lending and crowdfunding; asks the Commission to embed the 'Funding Escalator' concept within Capital Markets Union, addressing the diversity of companies' financing needs throughout their stages of development;
Amendment 44 #
2015/2106(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. WSupports broadening the funding options available for SMEs; therefore welcomes the launch of consultations on the review of the Prospectus Directive and the efforts being made to remove regulatory barriers to access to securitisation; underlines, in particular, the need to open up financial markets to SMEs; supports broadening the funding options available for SME; calls for an ambitious effort to revive securitisation markets, which requires the avoidance of an overly prescriptive and detailed definition of simple, transparent and standardised (STS) securitisations; calls for improved access to long-term financing and for the development of a pan-European private placement market promoting venture capital, as well as alternative instruments such as peer-to-peer lending and crowdfunding;
Amendment 51 #
2015/2106(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Is of the opinion that such a Union should be embedded into a global supervisory and regulatory framework which should be transparent, made accountable and whose requirements must be enforceable;
Amendment 62 #
2015/2106(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Is concerned about the increased complexity, reflected in the greater amount, detail and number of layers of regulation and supervision with requirements at international, European and national level; stresses the need for international regulatory cooperation but recalls that the global framework for cooperation should be improved to better take into account the interests of all parts of the world and in order to increase accountability;
Amendment 63 #
2015/2106(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls on the Commission to propose a coherent framework to enhance the quality and practicability of legislation, which should ensure greater and structural participation of ESAs during the level 1 phase and sufficient opportunity for ESAs to review as well as respond to unintended consequences that may arise during and following the implementation phase;
Amendment 91 #
2015/2106(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Is convinced that an efficient CMU, benefiting both citizens and companies, as well as enabling growth, should be simple, not risk-adverse, consistent throughout the legislation, with clear regulation and a strong mandate for supervision, including sanctions to act as deterrents and to be implemented where appropriate;
Amendment 111 #
2015/2106(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that a single market for financial services serves businesses, but ultimately has to benefit customers and investors; insists that barriers to cross- border access, marketing and investment have to be analysed and addressed; considers that the ESAs should be at the forefront of any process to align third country equivalence, given their expertise, access to resources and insight into market and consumer protection issues;
Amendment 139 #
2015/2106(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Highlights the benefits of asset diversification both in terms of asset classes and asset origin; reminds in this respect that the internal market is key to meet this diversification; emphasises that the purpose of prudential regulation is not to favour certain asset classes; calls for a risk- based approach to regulation, with the same rules being applied to the same risks; believes that a more granular categorisation of asset classes is appropriate, in particular by establishing categories such as infrastructure;
Amendment 141 #
2015/2106(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Recalls that diversity in funding means is a strength; is convinced therefore that the EU should design its own framework, building on but not replicating the system of other jurisdictions;
Amendment 150 #
2015/2106(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses the need for consistency in the risk-based approach, including sovereign exposures; supports the workwelcomes the contributions of the BCBS and ESRB in this regard; believes that a risk-based approach requires a clear regulatory framework, strong supervisor and respect of a level playing field;
Amendment 174 #
2015/2106(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Is of the opinion that firms should have access to a wide range of debt instruments, inter alia, safer securitisation, private placements, direct lending platforms;
Amendment 176 #
2015/2106(INI)
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Calls on the Commission to foster cross-border equity investments, as well as to set up task forces to enable convergence in insolvency law, information on SMEs and credit scoring, and consumer protection;
Amendment 178 #
2015/2106(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Welcomes the diversity of business models; calls for a differentiationrecognises the need to reflect this diversity in regulation and supervision regarding the nature, size, riskiness and complexity of entities, provided that the principles of fair competition and effective supervision are met;
Amendment 195 #
2015/2106(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for an appropriate division of competences between EU and national level, bearing in mind that national supervisors have more knowledge of local market characteristics; is concerned about and that supervision was transferred to EU level or euro area level in order to avoid the phenomenon of proximity, laxity or conflict of interests; asks the ECB to assess the effect ofthat a one-size-fits-all supervisory approach on smaller and primarily nationally active entities within the Single Supervisory Mechanism (SSM) could have; recalls however that it is crucial to have equivalent standards for all;
Amendment 208 #
2015/2106(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes the achievements in establishing a banking union; stresses that the next priority steps hasve to be its full implementation, including full capitalisation of national Deposit Guarantee Schemes (DGS) and the Single Resolution Fund (SRF); emphasises the aim of avoiding moral hazard and, ensuring that risk-takers bear the costs when their risks materialise and preventing domino effects across the banking union;
Amendment 225 #
2015/2106(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Acknowledges the traditional reliance of SMEs on bank funding due to their specific nature, different risk profiles and variety across Europe; calls on the Commission, in cooperation with the European Supervisory Authorities (ESAs) and the ECB, to analyse the obstacles to, and benefits of, the diversification of funding channels and how to enable banks to increase SME funding; reminds of the importance of tools like the ‘SME supporting factor’; suggests that the initiatives for improved SME funding should be expanded to mid-cap companies;
Amendment 227 #
2015/2106(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Acknowledges the traditional reliance of SMEs on bank funding due to their specific nature, different risk profiles and variety across Europe; calls on the Commission, in cooperation with the European Supervisory Authorities (ESAs) and the ECB, to analyse the obstacles to, and benefits of, the diversification of funding channels and how to enable banks to increase SME funding; calls in this respect to consider ‘SME benchmarks’ enabling banks to compare and price credit, instead of the less realistic SME credit registry; suggests that the initiatives for improved SME funding should be expanded to mid-cap companies;
Amendment 232 #
2015/2106(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Asks the Commission to embed the ‘Funding Escalator’ concept within CMU, addressing the diversity of companies’ financing needs throughout their stages of development;
Amendment 266 #
2015/2106(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Asks the Commission and supervisors to address the interaction between International Financial Reporting Standards (IFRS) and prudential requirements, and to review the impact of tax accounting on own fundsespecially for SMEs where EU accounting standards are incompatible with IFRS, and to review the impact of tax accounting on own funds; in response to its proposals in the recent Tax Action Plan (European Commission Communication on A Fair and Efficient Corporate Tax System in the European Union: 5 Key Areas for Action), requests the Commission to address the corporate debt equity bias in order to strengthen CMU; further calls on the Commission to review the structural bias against share holdings in the Solvency II framework;
Amendment 288 #
2015/2106(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Demands a stronger focus on the global competitiveness of the EU financial sectors when making policy, particularly with regards to ensuring EU businesses are not at a competitive disadvantage to firms elsewhere; Stresses the importance of alignment of global regulation through international fora such as the G20 in order to ensure a level playing field and to support the development of capital markets worldwide;
Amendment 295 #
2015/2106(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Underlines the importance of the international framework with respect to its scope, methodologies and implications on the EU framework; calls on the Commission and ESAs to coordinate more closely with international bodies promoting EU interestsMember States, the Council, the Commission and ESAs to streamline the EU representation, with a view to increasing its influence and promoting the legislation it has adopted through a democratic process; reminds of the principle of sincere cooperation between the Union and the Member States, referred to in Article 4(3) of the Treaty on European Union;
Amendment 296 #
2015/2106(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Underlines the importance of the international framework with respect to its scope, methodologies and implications on the EU framework; calls on the Commission and ESAs to coordinate more closely with Member States and international bodies promotingin order to avoid unnecessary adverse impacts on competitiveness of the EU finterestsancial sector;
Amendment 302 #
2015/2106(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Points to the importance of equivalence decisions in addressing obstacles regarding market access and the respective regulatory frameworks, bearing in mindhighlights that equivalence with other jurisdictions has the potential to increase capital inflows and attract further investment into Europe, but cautions that such unilateral decisions must benefit European businesses and consumers;
Amendment 307 #
2015/2106(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Requests that the Commission propose a coherent framework for dealing with third countries; stresses that such a framework should extend beyond equivalence provisions and, where possible, incorporate international standards or agreements;
Amendment 318 #
2015/2106(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Believes that better financial regulation starts with Member States applying the current acquis; considers that gold-plating does not facilitate the functioning of the internal market; urges the Commission to consider a greater use of Regulations in order to underpin the Single Rulebook;
Amendment 352 #
2015/2106(INI)
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31a. Calls on the Commission to propose a coherent framework to enhance the quality and implementability of legislation, which should ensure greater and structural participation of ESAs during the level 1 phase and sufficient opportunity for ESAs to review as well as respond to unintended consequences that may arise during and following the implementation phase;
Amendment 357 #
2015/2106(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Stresses the need to respect the interplay, consistency and coherence between the basic acts and delegated and implementing acts; insists that the Commission and the ESAs, when drafting delegated and implementing acts and guidelines, stick to the empowerments laid down in the basic acts and respect the co- legislators’ agreement; recalls article 290 of the TFEU stating that delegated acts are meant ‘to supplement or amend certain non-essential elements of the legislative act’;
Amendment 399 #
2015/2106(INI)
Motion for a resolution
Paragraph 42 a (new)
Paragraph 42 a (new)
42a. Is concerned by threats to cyber security and believes that it should be an integrated dimension of the EU strategy;
Amendment 403 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 – introductory part
Paragraph 43 – introductory part
43. Calls on the Commission services to complete, as part of its REFIT agenda, the first assessment by the end of 2016 and to report on the overall impact and, in separate chapters, on the following:
Amendment 421 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 – indent 8
Paragraph 43 – indent 8
– the effectiveness and appropriateness of the framework for retail investors, institutional investors and consumers, including the effect on access to finance for SMEs and mid-cap companies,
Amendment 427 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 – indent 9 a (new)
Paragraph 43 – indent 9 a (new)
– the transparency of the legislative process, including consistency between the basic acts as adopted by the co- legislators and any associated level 2 measures,
Amendment 428 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 – indent 9 a (new)
Paragraph 43 – indent 9 a (new)
– enumerate and analyse the barriers to the Single Market, including in national competencies, with a specific focus on taxation which hampers EU growth by creating regulatory arbitrage and distorting competition,
Amendment 7 #
2015/2105(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Emphasises that trade and investment policies must be aimed at creating sustainable growth and high-quality, decent jobs, and that future trade agreements should be drawn up in such a way as to form part of an industrial strategy based on fair competition and reciprocity;
Amendment 12 #
2015/2105(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Notes the growing importance of services for international trade and the stronger inter-linkages between services, manufacturing and foreign direct investment as global value chains become ever more significant; believes that this interconnectivity has to be considered in all trade negotiations for the European industry to enjoy full benefits;
Amendment 22 #
2015/2105(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses the importance of SMEs to trade and investment, given that there are more than 600 000 SMEs in the EU, which account for one third of EU exporwhich engage in trade outside the EU and account for one third of EU exports; welcomes in this regard the Commission’s proposal to include an SME dedicated chapter in all EU Free Trade Agreements;
Amendment 30 #
2015/2105(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes that sustainable production requires decent work and environmental, social and labour standards, as defined by the ILO Conventions, and must be an indispensable part of trade agreements which should be incorporated into all trade agreements and their adequate application should be closely monitored;
Amendment 41 #
2015/2105(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses the importance of preventing the EU’s trading partners from engaging in anti-competitive practices, including social or environmental dumping, or the dumping of cheap products in Europe, as this could de-stabilise European industryall kinds of dumping as well as protectionist and discriminatory measures, as this could de-stabilise European industry; calls on the Commission to make use of all measures available to fight unfair trading practices from third countries and to modernise its trade defence instruments in order to improve their reactivity and effectiveness;
Amendment 54 #
2015/2105(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Believes that forward-looking trade and investment policies can play a role inare fundamental to the development of the telecoms market, copyright and digital seconomytor in Europe and bring clear benefits to EU consumers and businesses; stresses, however, that trade strategies must ensure that non-EU companies do not take advantage of the fragmentation of the EU market, in light of the global nature of the digital economy and digital innovation, to bring clear benefits to EU consumers and businesses; therefore calls on the Commission to remove digital trade barriers and enable cross-border data flow within and outside the EU, within a stable and high standards framework on international data transfers; Underlines in this respect that data localisation requirements are affecting trade negatively and should be avoided; stresses, however, the urgent need to end the fragmentation of the EU market which undermines the competitiveness of the EU at global level;
Amendment 74 #
2015/2105(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Calls on the Commission, given to ensure coherence between the EU’s trade policy and the principles of EU energy policy; stresses the importance of decreasing the EU’s reliance on foreign energy supplies, tors and fuels, through promoteing the diversification of energy suppliers, routes and sources through the development of renewables, as well as promotingand intensifying the promotion of renewable energy and energy efficiency; highlights the importance of provisions in Free Trade Agreements to build sustainable energy partnerships as well as enhancing technological cooperation especially in the field of renewables and energy efficiency;
Amendment 4 #
2015/2010(INL)
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the recent initiatives of the Commission and encourages Member States to tackle further tax fraud, tax evasion and tax avoidance, promoting cleartransparent and fair tax rulings, combatting aggressive tax planning and; welcomes the initiative of the Commission to re-launching the Common Consolidated Corporate Tax Base scheme, stressing the importance to avoid any increase that should serve at reducing administrative burdens and cost of compliance for businesses and closing loopholes between national systems ;
Amendment 22 #
2015/2010(INL)
Draft opinion
Paragraph 2
Paragraph 2
2. Believes that fiscal policies and corporate taxation should be used as a tool to boost growth, jobs and developmentincrease Europe's international competitiveness ; believes that the Union must, by a more efficient, more transparent and fairer tax treatment for all companies, promote an attractive, competitive and balancedstable business environment that would allow businesses, including small and medium- sized enterprises, family businesses and self- employed people to operate simpler across the borders within the Union, innovative businesses to scale up, and the Union to better attract foreign investment; considers that the Commission should promote competitive, simplified and neutral tax systems, with a reduced number of exemptions;
Amendment 40 #
2015/2010(INL)
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that taxes must be paid where profits are made or value is created and where public services and infrastructures are used;
Amendment 64 #
2015/2010(INL)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Considers that the Commission and Member States should further deploy electronic solutions in taxation-related procedures to reduce administrative burdens and simplify cross-border procedures ;
Amendment 76 #
2015/2010(INL)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Considers that initiatives for more effective corporate taxation should include proposals to improve the business environment for start-ups such as tax incentives for investors to reinvest capital gains in higher-risk small European businesses or clarified taxation rules for share options ;
Amendment 187 #
2015/0268(COD)
Proposal for a regulation
Recital 35
Recital 35
(35) Where an issuer draws up a prospectus consisting of separate documents, all constituting parts of the prospectus should be subject to approval, including, where applicable, the universal registration document and amendments thereto, where they have been previously filed with the competent authority but not approved. In the case of a frequent issuer, any amendments or supplements to the universal registration document should not need to be approved prior to publication, but instead should be able to be reviewed by the competent authority on an ex-post basis. That should not affect the investor's right of withdrawal following publication of the supplement.
Amendment 213 #
2015/0268(COD)
Proposal for a regulation
Recital 51
Recital 51
(51) Allowing issuers to incorporate by reference documents containing the information to be disclosed in a prospectus or a base prospectus — provided that the documents incorporated by reference have been previously published electronically— should facilitate the procedure of drawing up a prospectus and lower the costs for the issuers without endangering investor protection. However, this aim of simplifying and reducing the costs of drafting a prospectus should not be achieved to the detriment of other interests the prospectus is meant to protect, including the accessibility of the information. The language used for information incorporated by reference should follow the language regime applying to prospectuses. Information incorporated by reference may refer to historical data, however where this information is no longer relevant due to material change, this should be clearly stated in the prospectus and the updated information should also be provided. Furthermore, frequent issuers should be free to choose to incorporate any changes to the universal registration document by way of a dynamic reference in the prospectus. Such dynamic reference would ensure that the reader is always referred to the latest version of the universal registration document, without the need for a supplement. The use of a dynamic reference in place of a supplement should not affect the investor's right of withdrawal.
Amendment 214 #
2015/0268(COD)
Proposal for a regulation
Recital 52
Recital 52
(52) Any regulated information, as defined in Article 2(1)(k) of Directive 2004/109/EC, should be eligible for incorporation by reference in a prospectus. Issuers whose securities are traded on a multilateral trading facility, and issuers which are exempted from publishing annual and half-yearly financial reports pursuant to Article 8(1)(b) of Directive 2004/109/EC, should also be allowed to incorporate by reference in a prospectus all or part of their annual and interim financial information, audit reports, financial statements, management reports or corporate governance statements, subject to their electronic publication.
Amendment 216 #
2015/0268(COD)
Proposal for a regulation
Recital 53 a (new)
Recital 53 a (new)
(53a) ESMA should make an assessment of the design, financing and operation of a central workflow system in the context of Capital Markets Union together with the national competent authorities.
Amendment 273 #
2015/0268(COD)
Proposal for a regulation
Article 1 – paragraph 3 – point c
Article 1 – paragraph 3 – point c
(c) an offer of securities addressed to investors who acquire securities for a total consideration of at least EUR 100 000 per investor, for each separate offer;
Amendment 302 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point e a (new)
Article 2 – paragraph 1 – point e a (new)
(ea) 'retail investor' means an investor that is not a qualified investor.
Amendment 309 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point l
Article 2 – paragraph 1 – point l
(l) ‘regulated information’ means all information as defined in Article 2(1)(k) of Directive 2004/109/EC; which the issuer, or any other person who has applied for admission to trading of securities to trading on a regulated market without the issuer's consent, is required to disclose under Directive 2004/109/EC or under the laws, regulations or administrative provisions of a Member State adopted under Article 3(1) of that Directive and under Articles 17 and 19 of Regulation (EU) No 596/2014;
Amendment 324 #
2015/0268(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point o – introductory part
Article 2 – paragraph 1 – point o – introductory part
(o) ‘collective investment undertaking other than the closed-end type’' means unit trusts and investment companies with both of the following characteristics:
Amendment 385 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 5 – introductory part
Article 7 – paragraph 5 – introductory part
5. The introduction of the summary shall contain the name of the securities, the identity and contact details of the issuer, the offerorincluding its legal entity identifier (LEI), the offeror including its LEI if the offeror has a legal personality or the person seeking admission, the identity and contact details of the home competent authority and the date of the document. It shall contain warnings that:
Amendment 392 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 6 – point a – indent 1
Article 7 – paragraph 6 – point a – indent 1
- its domicile and legal form, the legislation under which it operates, its LEI and its country of incorporation;
Amendment 409 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 7 – subparagraph 1 – point a – indent 1
Article 7 – paragraph 7 – subparagraph 1 – point a – indent 1
- their type and class, any security identificationtheir ISIN number, their currency, denomination, par value, the number of securities issued, the term of the securities;
Amendment 416 #
2015/0268(COD)
Proposal for a regulation
Article 7 – paragraph 7 – subparagraph 1 – point c
Article 7 – paragraph 7 – subparagraph 1 – point c
(c) under a sub-section titled 'Is there a guarantee attached to the securities?' a brief description of the nature and scope of the guarantee, if any, as well as a brief description of the guarantor including its LEI.
Amendment 495 #
2015/0268(COD)
Proposal for a regulation
Article 15 – paragraph 4
Article 15 – paragraph 4
4. ESMA shall develop guidelines addressed to SMEpublish guidance for SMEs and mid-cap enterprises on how to draw up a prospectus under the format referred to in paragraph 2. The procedures set out in subparagraphs 2 to 4 of Article 16(3) of Regulation (EU) No 1095/2010 shall not, which SMEs and mid- cap enterprises may choose to apply.
Amendment 511 #
2015/0268(COD)
Proposal for a regulation
Article 18 – paragraph 1 – subparagraph 1 – introductory part
Article 18 – paragraph 1 – subparagraph 1 – introductory part
1. Information may be incorporated by reference in a prospectus or a base prospectus where it has been previously or simultaneously published electronically, drawn up in a language fulfilling the requirements of Article 25 and where it is contained in one of the following documentsfiled in the context of disclosure requirements of Union law or filed under the rules of the trading venue or SME growth market, for example:
Amendment 512 #
2015/0268(COD)
Proposal for a regulation
Article 18 – paragraph 1 – subparagraph 1 – point a
Article 18 – paragraph 1 – subparagraph 1 – point a
(a) documents which have been approved by thea competent authority of the home Member State, or filed with it, in accordance with this Regulation;
Amendment 514 #
2015/0268(COD)
Proposal for a regulation
Article 18 – paragraph 1 – subparagraph 1 a (new)
Article 18 – paragraph 1 – subparagraph 1 a (new)
The above mentioned list shall be non- exhaustive.
Amendment 517 #
2015/0268(COD)
Proposal for a regulation
Article 19 – paragraph 5 – subparagraph 2 a (new)
Article 19 – paragraph 5 – subparagraph 2 a (new)
A frequent issuer shall not be required to obtain approval for amendments to the universal registration document. Where a prospectus has already been approved by the competent authority and a supplement is subsequently required to the universal registration document, without prejudice to the right of withdrawal under Article 22(2), a frequent issuer shall not be required to obtain approval from the competent authority for that supplement prior to publication.
Amendment 525 #
2015/0268(COD)
Proposal for a regulation
Article 20 – paragraph 3 – subparagraph 2 a (new)
Article 20 – paragraph 3 – subparagraph 2 a (new)
Without prejudice to the right of withdrawal in Article 22(2), frequent issuers, as referred to in Article 9(11), may choose to incorporate any changes to the universal registration document by way of a dynamic reference to the most recent version of the universal registration document, in place of a supplement.
Amendment 529 #
2015/0268(COD)
Proposal for a regulation
Article 20 – paragraph 6
Article 20 – paragraph 6
6. At the latest from the beginning of the offer to the public or the admission to trading of the securities involved, ESMA shall publish all prospectuses received from the competent authorities on its website, including any supplements thereto, final terms and related translations where applicable, as well as information on the host Member State(s) where prospectuses are notified in accordance with Article 24. Publication shall be ensured through a storage mechanism providing the public with free of charge access and search functions. Key information contained in the prospectuses such as ISIN identifying the securities and the LEI identifying the issuers, offerors and guarantors, should be machine readable also when using meta- data.
Amendment 550 #
2015/0268(COD)
Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 1 a (new)
Article 22 – paragraph 2 – subparagraph 1 a (new)
Where an issuer chooses to incorporate any changes to the universal registration document by way of a dynamic reference to the most recent version of the universal registration document, in place of a supplement pursuant to Article 20(3), that shall not affect the investor's right of withdrawal as set out in the first subparagraph.
Amendment 630 #
2015/0268(COD)
Proposal for a regulation
Article 36 – paragraph 2 – point a
Article 36 – paragraph 2 – point a
(a) a public statement indicating the natural person or the legal entity responsible and the nature of the infringement in accordance with Article 40;
Amendment 637 #
2015/0268(COD)
Proposal for a regulation
Article 44 (new)
Article 44 (new)
Article -44 Amendment to Directive 2014/65/EU Directive 2014/65/EU is amended as follows: In point (a) of Article 25(4) , the second subparagraph is replaced by the following: "For the purpose of this point a third- country market shall be considered to be equivalent to a regulated market if the requirements and the procedure laid down under the third and the fourth subparagraphs are fulfilled. On the request of the competent authority of a Member State, the Commission shall adopt equivalence decisions in accordance with the procedure referred to in Article43, stating whether the legal and supervisory framework of a third country ensures that a regulated market authorised in that third country complies with legally binding requirements which are, for the purpose of the application of point (a), equivalent to the requirements resulting from Regulation (EU) No 596/2014of the European Parliament and of the Council of 16 April 2013 on market abuse (market abuse regulation) , from Title III of this Directive, from Title II of Regulation(EU) No 600/2014and from Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, and which are subject to effective supervision and enforcement in that third country. That competent authority shall indicate why it considers that the legal and supervisory framework of the third country concerned is to be considered equivalent and shall provide relevant information to that end. Such a third-country legal and supervisory framework may be considered equivalent where that framework fulfils at least the following conditions: (i) the markets are subject to authorisation and to effective supervision and enforcement on an ongoing basis; (ii) the markets have clear and transparent rules regarding admission of securities to trading so that such securities are capable of being traded in a fair, orderly and efficient manner, and are freely negotiable; (iii) security issuers are subject to periodic and ongoing information requirements ensuring a high level of investor protection; and (iv) market transparency and integrity are ensured by the prevention of market abuse in the form of insider dealing and market manipulation."
Amendment 638 #
2015/0268(COD)
Proposal for a regulation
Article 44 – paragraph 3
Article 44 – paragraph 3
Amendment 61 #
2015/0239(COD)
Proposal for a regulation
Recital 19
Recital 19
Amendment 63 #
2015/0239(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) In order to maintain the high quality of the data provided by the Member States, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission, with a view to adjusting the thresholds that may apply to the natural gas market. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission, w, and that those consultations be conducted in accordance with then preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and Councilinciples laid down in the Interinstitutional Agreement on Better Law-Making of 13 April 2016. In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member states´ experts, and their experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts.
Amendment 88 #
2015/0239(COD)
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
(4) The Commission (Eurostat) shall assess the quality of the transmitted data and the information provided in the quality reports and shall, once these are validated, prepare and disseminate a summary quality assessment report.
Amendment 183 #
2015/0149(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The European Union is committed to building an Energy Union with a forward looking energy and climate policy. Energy efficiency is a crucial element of the European Union's 2030 Climate and Energy Policy Framework and is key to moderate energy demand.
Amendment 188 #
2015/0149(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) Energy efficiency labelling allows consumers to make informed choices with regard to energy consumption of products and thereby promotes innovation and gives an incentive to producers to develop more energy efficient products.
Amendment 211 #
2015/0149(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The provision of accurate, relevant and comparable information on the specific energy consumption of energy-related products facilitates the customer's choice in favour of those products which consume less energy and other essential resources during use. A standardised mandatory label is an effective mean to provide potential customers with comparable information on the energy consumption of energy-related products. It should be supplemented with a product information sheet. The label should be easily recognisable, simple and concise. To this end the existing dark green to red colour scale of the label should be retained as the basis to inform customers about the energy efficiency of products. A classification using letters from A to G has shown to be most effective for customers. In situations where because of ecodesign measures under Directive 2009/125/EC products can no longer fall into classes 'F' or 'G', those classes should not be shown on the label. For exceptional cases this should also be extended to the 'D' and 'E' classes, although this situation is unlikely to occur given that the label would be rescaled once a majority of product models falls into the top two classeA uniform application of this A to G scale across products groups should raise transparency and understanding among customers.
Amendment 231 #
2015/0149(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Advances in digital technology allow for alternative ways of delivering and displaying labels electronically, such as on the internet, but also on electronic displays in shops. In order to take advantage of such advances, this Regulation should allow the use of electronic labels as replacement of or complementary to the physical energy label. In cases where it is not feasible to display the energy label, such as certain forms of distance selling and in advertisements and technical promotional material, potential customers should be provided at least with the energy class of the product.
Amendment 246 #
2015/0149(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Manufacturers respond to the energy label by creating ever more efficient products. This technological development leads to products populating mainly the highest classes of the energy label. Further product differentiation may be necessary to allow customers a proper comparison, leading to the need to rescale labels. For the frequency of such rescaling a timescale of approximately ten years would be appropriate, taking into account the need to avoid over burdening manufacturers and dealers. This Regulation should therefore lay down detailed arrangements for rescaling in order to maximise legal certainty for suppliers and dealers. A newly rescaled label should have empty top classes to encourage technological progress and enable ever more efficient products to be developed and recognised. When a label is rescaled, confusion to customers should be avoided by replacing all energy labels within a short and feasible timeframe.
Amendment 247 #
2015/0149(COD)
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) The frequency of such rescaling should be determined by the percentage of products sold that fall in the top class and should take into account the need to avoid over burdening suppliers and dealers, as well as the speed of technological progress. A newly rescaled label shall have two empty top classes to encourage technological progress. In exceptional cases, where technology is expected to develop more slowly, the newly rescaled label shall have only one empty top class to take into account the time it takes to fill up the top class.
Amendment 253 #
2015/0149(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) In the case of a rescaled label, suppliers should provide both the old and the rescaled labels to dealers during a certain period. Due to different stock and shelve life of different products groups, it is appropriate for this period to be determined by way of a delegated act. The replacement of the existing labels on products on display, including on the Internet, with the rescaled labels should take place as quickly as possible after the date of replacement specified in the delegated act on the rescaled label. Dealers should not display the rescaled labels before the date of replacement.
Amendment 255 #
2015/0149(COD)
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) In order to take the burden for dealers into account during the relabeling process, dealers will be allowed to have only one clearly visible rescaled label present for a group of identical products. This would apply in cases when the label is printed on the packaging, such as in the case of lightbulbs, or when products are displayed together in a large quantity;
Amendment 257 #
2015/0149(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) It is necessary to provide for a clear and proportionate distribution of obligations corresponding to the role of each operator in the supply and distribution process. Economic operators should be responsible for compliance in relation to their respective roles in the supply chain and should take appropriate measures to ensure that they only make available on the market products which are in conformity with this Regulation and its delegated acts. In order to ensure legal certainty, it is necessary to clarify that online sales platforms, which act as a technical conduit for goods offered by dealers, shall not be considered to be suppliers or dealers within the meaning of articles 2 and 3 of this Regulation and are consequently not responsible for ensuring their users' compliance with their obligations under this Regulation.
Amendment 265 #
2015/0149(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) In order to ensure legal certainty, it is necessary to clarify that rules on Union market surveillance and control of products entering the Union market provided for in Regulation (EC) No 765/2008 of the European Parliament and of the Council21 apply to energy-related products. Given the principle of free movement of goods, it is imperative that the market surveillance authorities of the Member States cooperate with each other effectively. Such cooperation on energy labelling should be reinforced and incentivized through support by the Commission. __________________ 21 OJ L 218, 13.8.2008, p. 30. OJ L 218, 13.8.2008, p. 30.
Amendment 266 #
2015/0149(COD)
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) Market surveillance authorities should share the outcome of their test results. Where up until now only infractions were communicated to other member states and the Commission, they should also communicate when a test result did not prove an infraction. This should avoid unnecessary double testing and result in a more efficient use of scarce resources. Eventually a European market surveillance authority should be established to optimise market surveillance in a cost-efficient manner.
Amendment 270 #
2015/0149(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) In order to facilitate the monitoring of compliance and to provide up-to-date market data for the regulatory process on revisions of product-specific labels and information sheets, suppliers should provide their product compliance information electronically in a database established by the Commission. The information should be made publicly available to provide information for customers and to allow for alternative ways for dealers to receive labels. Market surveillance authorities should have access to the information in the databaseThe Commission shall set up a publicly accessible database with a range of freely available information. This will be open data so as to give app developers and other comparison tools the opportunity to use this information.
Amendment 282 #
2015/0149(COD)
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) The Commission shall also set up and maintain an online portal that provides market surveillance authorities access to detailed product information on the servers of producers. The Commission and market surveillance authorities will have very targeted and narrowly defined access for specific queries, and they will not have the possibility to conduct open searches on these servers.
Amendment 291 #
2015/0149(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) Energy consumption and other information concerning the products covered by product-specific requirements under this Regulation should be measured by using reliable, accurate and reproducible methods that take into account the generally recognised state-of- the-art measurements and calculation methods. These methods should simulate real-life use as close as possible. It is in the interests of the functioning of the internal market to have standards which have been harmonised at Union level. In the absence of published standards at the time of application of product-specific requirements the Commission should publish in the Official Journal of the European Union transitional measurement and calculation methods in relation to those product-specific requirements. Once a reference to such a standard has been published in the Official Journal of the European Union compliance with it should provide a presumption of conformity with measurement methods for those product- specific requirements adopted on the basis of this Regulation.
Amendment 331 #
2015/0149(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 11
Article 2 – paragraph 1 – point 11
(11) ‘Energy-related product’ means any good or system or service with an impact on energy consumption during use, which is placed on the market and put into service in the Union, including parts to be incorporated into energy-related products covered by this Regulation which are placed on the market and put into service; as individual parts for end-users and of which the environmental performance can be assessed independently;
Amendment 345 #
2015/0149(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 13
Article 2 – paragraph 1 – point 13
(13) ‘Label’ means a graphic diagram including, in printed or electronic form, including, amongst others, a classification using letters from A to G in seven different colours from dark green to red in order to show consumption of energy;
Amendment 351 #
2015/0149(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 18
Article 2 – paragraph 1 – point 18
(18) 'Rescale' means a periodic exercise to make more stringent the requirements for achieving the energy class on a label for a particular product, which, for existing labels may imply the deletion of certain energy classes;
Amendment 356 #
2015/0149(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 19
Article 2 – paragraph 1 – point 19
(19) 'Rescaled label' means a label based on a new design for a particular product that has undergone a rescaling exercise and is clearly distinguishable to the end-user from the previous label.
Amendment 409 #
2015/0149(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point a
Article 3 – paragraph 2 – point a
(a) they shall display in a visible manner, including in online sales, the label provided by the supplier or otherwise made available for a product covered by a delegated act;
Amendment 410 #
2015/0149(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point a a (new)
Article 3 – paragraph 2 – point a a (new)
(aa) they shall be allowed to sell energy- related products without a label or a rescaled label, only where a (rescaled) label has never been produced for a given product and the supplier of this product is no longer active on the market;
Amendment 439 #
2015/0149(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point a
Article 3 – paragraph 3 – point a
(a) they shall make reference to the energy efficiency class of the product in anyvisual advertisements or technical promotional material for a specific model of products in accordance with the relevant delegated act;
Amendment 459 #
2015/0149(COD)
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. Member States shall ensure that the introduction of labels including rescaled labels and product information sheets is accompanied by educational and promotional information campaigns aimed at promoting energy efficiency and more responsible use of energy by customers, if appropriate in cooperation with dealers. The Commission shall support cooperation and the exchange of best practices in relation to these campaigns.
Amendment 464 #
2015/0149(COD)
Proposal for a regulation
Article 4 – paragraph 5
Article 4 – paragraph 5
5. Member States shall shall lay down the rules on penalties and enforcement mechanisms applicable to infringements of the provisions of this Regulation and its delegated acts, and shall take all measures necessary to ensure that they are implemented. The penalties must be effective, proportionate and dissuasive and relative to the economic advantage of incompliance. Member States shall notify those provisions to the Commission by the date of application of this Regulation and shall notify without delay any subsequent amendment affecting them.
Amendment 466 #
2015/0149(COD)
Proposal for a regulation
Article 4 – paragraph 5 a (new)
Article 4 – paragraph 5 a (new)
5a. The Commission shall assess used penalties and publish recommendations with the aim of creating a level playing field and having Member States impose penalties of the same impact to market players.
Amendment 470 #
2015/0149(COD)
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The Commission shall support and incentivise cooperation and exchange of information on market surveillance of energy labelling of products among national authorities of the Member States responsible for market surveillance or external border controls and between such authorities and the Commission, including when test results indicated that the producer is in compliance with the relevant legislation.
Amendment 476 #
2015/0149(COD)
Proposal for a regulation
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
2a. The Commission may independently test the energy performance of products and verify compliance. The Commission may engage a third party for this purpose.
Amendment 488 #
2015/0149(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Where the market surveillance authorities of one Member State have sufficient reason to believe that an energy- related product covered by a delegated act under this Regulation presents a risk to aspects of public interest protection covered by this Regulation, they shall carry out an evaluation in relation to the energy- related product concerned covering all the requirements laid down in this Regulation and its relevant delegated acts. The supplier shall cooperate as necessary with the market surveillance authorities for that purpose.
Amendment 503 #
2015/0149(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Where the mMarket surveillance authorities consider that non-compliance is not restricted to their national territory, they shall inform the Commission and the other Member States of the results of the evaluation and of the actions which they have required the supplier to take.
Amendment 512 #
2015/0149(COD)
Proposal for a regulation
Article 6 – paragraph 10
Article 6 – paragraph 10
10. Where, on completion of the procedure set out in paragraphs 4 and 5, objections are raised against a measure taken by a Member State, or where the Commission considers a national measure to be contrary to Union legislation, the Commission shall without delay enter into consultation with the Member States and the supplier and shall evaluate the national measure. On the basis of the results of that evaluation, the Commission shall decide whether the national measure is justified or not, and may decide on an appropriate alternative measure.
Amendment 523 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
Amendment 534 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. The Commission shall ensure that, when a label is introduced or rescaled, the requirements are laid downtechnological advancement of the product is taken into account so that no products are expected to fall in energy classes A or B at the moment of the introduction of the label and so that the estimated time within which a majority of models. In the case of products where technology is expected to develop relatively slowly, no products are expected to falls into those classes shall be at least ten years later energy class A at the moment of the introduction of the label.
Amendment 548 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
4. Labels shall be re-scaled periodicallywhen technological progress in the relevant product group makes it appropriate. The Commission shall carry out a preparatory study and shall consult the relevant stakeholders in advance with the aim of launching a label review process. It shall review the label once it: (a) estimates that 30 percent of the products sold within the Union market fall into the top energy class and further technological development can be expected soon; or (b) demonstrates that after the functioning of the existing label for eight years with the current division of classes, the conditions in point (a) are unlikely to be fulfilled within the following five years.
Amendment 568 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 5 – point a
Article 7 – paragraph 5 – point a
(a) suppliers shall provide both the current and the rescaled labels to dealers for a period of six months before the date specified in paragraph (b). for a period determined in the relevant delegated act
Amendment 580 #
2015/0149(COD)
Proposal for a regulation
Article 7 – paragraph 5 – point b
Article 7 – paragraph 5 – point b
(b) dealers shall replace the existing labels on products on display including on the Internet with the rescaled labels within onetwo weeks following the date specified for that purpose in the relevant delegated act. Dealers shall not display the rescaled labels before that date.
Amendment 605 #
2015/0149(COD)
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
The Commission shall establish and maintain a product database including the information referred to in Annex I. Tublicly accessible product database. This database shall contain the information listed under point 1 of Annex I shall be made publicly available.
Amendment 612 #
2015/0149(COD)
Proposal for a regulation
Article 8 – paragraph 1 a (new)
Article 8 – paragraph 1 a (new)
The Commission shall also establish and maintain an online portal which gives market surveillance authorities and the Commission access to the compliance information listed under point 2 of Annex I. Producers will keep this information on their servers in a manner which makes it possible for market surveillance authorities and the Commission through specific and targeted queries. This access shall only be used for market surveillance purposes. The Commission will ensure a sufficient level of security and the Commission and the market surveillance authorities shall ensure the safeguarding of confidential information.
Amendment 635 #
2015/0149(COD)
Proposal for a regulation
Article 12 – paragraph 2 – point c a (new)
Article 12 – paragraph 2 – point c a (new)
(ca) the Commission shall take into account relevant Union legislation and self-regulation, such as voluntary agreements, which are expected to achieve the policy objectives more quickly or at lesser expense than mandatory requirements.
Amendment 644 #
2015/0149(COD)
Proposal for a regulation
Article 12 – paragraph 3 – subparagraph 1 – point d
Article 12 – paragraph 3 – subparagraph 1 – point d
(d) the locations where the label shall be displayed, such as attached to the product (as long as this will not lead to any damage done to the product), printed on the packaging, provided in electronic format or displayed on line, taking into account different requirements for standard sized websites vis-à-vis mobile websites or applications;
Amendment 658 #
2015/0149(COD)
Proposal for a regulation
Article 12 – paragraph 3 – subparagraph 1 – point j
Article 12 – paragraph 3 – subparagraph 1 – point j
(j) the specific indication of the energy class to be included in visual advertisements and technical promotional material, including requirements for this to be in a legible and visible form;
Amendment 663 #
2015/0149(COD)
Proposal for a regulation
Article 12 – paragraph 3 – subparagraph 1 – point m
Article 12 – paragraph 3 – subparagraph 1 – point m
(m) the format of any additional references, such as QR codes, on the label allowing customers to access through electronic means more detailed information on the product performance included in the product information sheet;
Amendment 671 #
2015/0149(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
No later than eight years after the entry into force, the Commission shall assess the application of this Regulation and transmit a report to the European Parliament and the Council. That report shall assess how effectively this Regulation has allowed customers to choose more efficient products, taking into account criteria such as its impacts on business, the impact on total energy consumption, the cost of the database and the impact on the effectiveness of market surveillance authorities control activities.
Amendment 687 #
2015/0149(COD)
Proposal for a regulation
Annex I – part 2 – point b
Annex I – part 2 – point b
Amendment 77 #
2015/0009(COD)
Proposal for a regulation
Title 1
Title 1
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the European Fund for Strategic Investments and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013
Amendment 82 #
2015/0009(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) To partially finance the contribution ofrom the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 of the European Parliament and of the Council2, and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3 , should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI. __________________ 2 Regulation (EU) No 1291/2013 of the European Parliament and of the Council of 11 December 2013 establishing Horizon 2020 - the Framework Programme for Research and Innovation (2014-2020) and repealing Decision No 1982/2006/EC (OJ L 347, 20.12.2013, p. 104). 3Regulation (EU) No 1316/2013 of the European Parliao the EU budget Guarantee Fund will be done on a progressive basis using various possibilities within the EU budget. In order of priority, the contribution will be financed by the annual surplus, the unused funds, the Flexibility Instrument and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129)margins of the EU budget.
Amendment 85 #
2015/0009(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) The purpose of the EFSI should be to help resolve the difficulties in financing and implementing productive investments in the Union and to ensure increased access to financing. It is intended that increased access to financing should be of particular benefit to small and medium enterprises, fast growing companies or companies with potential of growth, including start- ups. It is also appropriate to extend the benefit of such increased access to financing to mid- cap companies, which are companies having up to 3000 employees. Overcoming Europe's current investment difficulties should contribute to strengthening the Union's economic, social and territorial cohesion.
Amendment 103 #
2015/0009(COD)
Proposal for a regulation
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
1a. Eligibility criteria for the use of the EU guarantee 1. The EFSI Agreement shall provide that EFSI is to support projects which: (a) are consistent with Union policies, (b) are economically and technically viable, (c) provide additionality, and (d) maximise where possible the mobilisation of private sector capital.
Amendment 111 #
2015/0009(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) Many small and medium enterprises, as well as mid-cap companies,innovative and fast growing enterprises, including start-ups across the Union require assistance to attract market financing, especially as regards investments that carry a greater degree of risk. The EFSI should help these businesses to overcome capital shortages by allowing the EIB and the European Investment Fund ('EIF') to provide direct and indirect equity injections, as well as to provide guarantees for high-quality securitisation of loans, and other products that are granted in pursuit of the aims of the EFSI.
Amendment 137 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) any project covered by the objectives set out in Article 3 and 4 of Regulation 1316/2013
Amendment 139 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e b (new)
Article 5 – paragraph 2 – subparagraph 1 – point e b (new)
(eb) any project covered by the objectives set out in Article 5 of Regulation 1291/2013
Amendment 155 #
2015/0009(COD)
Proposal for a regulation
Article 18
Article 18
Amendments to Regulation (EU) No (1) In Article 6, paragraphs 1, 2 and 3 are replaced by the following: ‘1. The financial envelope for the implementation of Horizon 2020 is set at EUR 74 328,3 million in current prices, of which a maximum of EUR 71 966,9 million shall be allocated to activities under Title XIX TFEU. The annual appropriations shall be authorised by the European Parliament and by the Council within the limits of the multiannual financial framework. 2. The amount for activities under Title XIX TFEU shall be distributed among the priorities set out in Article 5(2) of this Regulation as follows: (a) Excellent science, EUR 23 897,0 million in current prices; (b) Industrial leadership, EUR 16 430,5 million in current prices; (c) Societal challenges, EUR 28 560,7 million in current prices. The maximum overall amount for the Union financial contribution from Horizon 2020 to the specific objectives set out in Article 5(3) and to the non-nuclear direct actions of the JRC shall be as follows: (i) Spreading excellence and widening participation, EUR 782,3 million in current prices; (ii) Science with and for society, EUR 443,8 million in current prices; (iii) Non-nuclear direct actions of the JRC, EUR 1 852,6 million in current prices. The indicative breakdown for the priorities and specific objectives set out in Article 5(2) and (3) is set out in Annex II. 3. The EIT shall be financed through a maximum contribution from Horizon 2020 of EUR 2 361,4 million in current prices as set out in Annex II.’ (2) Annex II is replaced by the text set out in Annex I to this Regulation.rticle 18 deleted 1291/2013
Amendment 156 #
2015/0009(COD)
Proposal for a regulation
Article 19
Article 19
Amendments to Regulation(EU) No In Article 5 of Regulation (EU) No 1316/2013, paragraph 1 is replaced by the following: ‘1. The financial envelope for the implementation of the CEF for the period 2014 to 2020 is set at EUR 29 942 259 000 (*) in current prices. That amount shall be distributed as follows: (a) transport sector: EUR 23 550 582 000, of which EUR 11 305 500 000 shall be transferred from the Cohesion Fund to be spent in line with this Regulation exclusively in Member States eligible for funding from the Cohesion Fund; (b) telecommunications sector: EUR 1 041 602 000; (c) energy sector: EUR 5 350 075 000. These amounts are without prejudice to the application of the flexibility mechanism provided for under Council Regulation (EU, Euratom) No 1311/2013(*). –––––––––––––––––––––––––––––– (*) Council Regulation (EU, Euratom) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20 (OJ L 347, 20.12.2013, p. 884).’rticle 19 deleted 1316/2013
Amendment 160 #
2015/0009(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The investment environment within the Union should be improved by removing barriers to investment, reinforcing the Single Market and by enhancing regulatory predictability, in particular by completing the opening of the digital, transport, energy and telecoms markets . The work of the EFSI, and investments across Europe generally, should benefit from this accompanying work.
Amendment 162 #
2015/0009(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The investment environment within the EUnion should be improved by removing barriers to investment, such as obstacles to PPPs that remain at national and EU level, by reinforcing the Single Market and by enhancing regulatory predictability. With the view to mobilising private companies and supporting the development of PPPs, it should be ensured that there is no discrimination depending on the management of the projects, be it private or public. The work of the EFSI, and investments across Europe generally, should benefit from this accompanying work.
Amendment 210 #
2015/0009(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) To partially finance the contribution ofrom the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 of the European Parliament and of the Council2, and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3, should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI. __________________ 2 Regulation (EU) No 1291/2013 of the European Parliament and of the Council of 11 December 2013 establishing Horizon 2020 - the Framework Programme for Research and Innovation (2014-2020) and repealing Decision No 1982/2006/EC (OJ L 347, 20.12.2013, p. 104). 3Regulation (EU) No 1316/2013 of the European Parliao the EU budget Guarantee Fund will be done on a progressive basis using various possibilities within the EU budget. In order of priority, the contribution will be financed by the annual surplus, the unused funds, the Flexibility Instrument and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129)margins of the EU budget.
Amendment 231 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
The Commission shall conclude annegotiate a draft agreement with the European Investment Bank (EIB) on the establishment of a European Fund for Strategic Investments ('EFSI') in line with the requirements of this Regulation.
Amendment 253 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States, under the terms laid out in the EFSI Agreement. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties, including national promotional banks or public agencies owned or controlled by Member States, and private sector entities.
Amendment 257 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2a. The Commission shall be empowered to enter into the EFSI Agreement on behalf of the Union by means of a delegated act in accordance with Article 17, provided that the EFSI Agreement meets the requirements of this Regulation.
Amendment 261 #
2015/0009(COD)
Proposal for a regulation
Article 1 a (new)
Article 1 a (new)
Article 1a Definitions For the purposes of this Regulation only, the following definitions apply: (a) 'national promotional banks or institutions' means legal entities carrying out financial activities on a professional basis which are conferred a mandate by a Member State, whether at central, regional or local level, to carry out public development or promotional activities; (b) 'investment platforms' means special purpose vehicles, managed accounts, contract-based co-financing or risk sharing arrangements or arrangements established by any other means via which entities channel a financial contribution in order to finance a number of investment projects; (c) 'small and medium-sized enterprises' or 'SMEs' means micro, small and medium-sized enterprises as defined in Recommendation 2003/361/EC. (d) 'mid-cap companies' means legal entities having up to 3000 employees which are not SMEs. (e) 'EFSI Agreement' means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI. (f) 'EIAH Agreement' means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the implementation of EIAH. (g) 'additionality' means the support by the EFSI of operations which address market failures or sub-optimal investment situations and which could not have been carried out in that period under normal EIB instruments without EFSI support or to the same extent during that period under EIF and EU instruments. The projects supported by the EFSI, while striving to create jobs and growth, shall typically have a higher risk profile than projects supported by normal EIB operations and the EFSI portfolio shall have overall a higher risk profile than the current portfolio of investments supported by the EIB under its normal investment policies.
Amendment 290 #
2015/0009(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should aim at financeing projects across the Union, including in the countries most affected by the financial criswhole of the Union by taking into account the criteria of additionality and high-risk-profile in its investment policies i.e. by ensuring that selected projects are projects which could not have found a financing on the market otherwise. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 297 #
2015/0009(COD)
Proposal for a regulation
Article 2 a (new)
Article 2 a (new)
Article 2a Eligibility criteria for the use of the EU guarantee The EFSI Agreement shall provide that EFSI is to support projects which: (a) are consistent with Union policies, (b) are economically and technically viable, (c) provide additionality, and (d) maximise where possible the mobilisation of private sector capital.
Amendment 303 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 306 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
Amendment 309 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 2
Article 3 – paragraph 4 – subparagraph 2
The Managing Director shall report every quarter on the activities of the EFSI to the Steering Board and the European Parliament.
Amendment 310 #
2015/0009(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically and technically viable, which may entail a high degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing.
Amendment 314 #
2015/0009(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically and technically viable, which may entail a degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing. When a national court of audit or an independent council or any anti-corruption body of a Member State has expressed some concerns on a project, a type of investment or on a body having the responsibility of investing public money and these concerns are communicated to the EFSI, it should take into account the opinions expressed.
Amendment 332 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 5 – subparagraphs 2 a, 2 b and 2 c (new)
Article 3 – paragraph 5 – subparagraphs 2 a, 2 b and 2 c (new)
The experts of the Investment Committee shall be appointed following an open and transparent selection procedure. In appointing the experts to the Investment Committee, the Steering Board shall ensure that the composition of the Investment Committee is diversified, so as to ensure that it has a wide knowledge of the sectors covered in Article 2a and geographic markets within the Union. The Steering Board of the EFSI shall supervise the fulfilment of the EFSI’s objectives. When participating in the activities of the Investment Committee its members shall perform their duties impartially and in the interests of the EFSI. When implementing the guidelines adopted by the Steering Board and taking decisions on the use of the EU guarantee, they shall not seek nor take instructions from the EIB, the Union institutions, the Member States or any other public or private body. Adequate organisational arrangements shall be in place to ensure operational independence of the Investment Committee, without prejudice to the provision of analytical, logistical and administrative support by the staff of the EIB to the Investment Committee.
Amendment 360 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital and telecom infrastructure;
Amendment 376 #
2015/0009(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) In order to allow for further increase in its resources, participation in the EFSI should be open to third parties, including Member States, national promotional banks or public agencies owned or controlled by Member States, private sector entities and entities outside the Union subject to the consent of existing contributors. Third parties may contribute directly to the EFSI and take part in the EFSI governance structure.
Amendment 376 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point b
Article 5 – paragraph 2 – subparagraph 1 – point b
(b) investment in education and training, health, research and development, including research infrastructure; information and communications technology and innovation;
Amendment 388 #
2015/0009(COD)
Proposal for a regulation
Recital 20 a (new)
Recital 20 a (new)
(20a) Considering that infrastructure assets have a strong default and recovery record and considering that infrastructure project finance can be seen as a means to diversify institutional investors asset portfolios, infrastructure projects benefiting from the EFSI support should be treated as Type 1 exposures for the calculation of the Solvency Capital Requirement as set out in Title I Chapter V Section 6 of Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II). This approach should be examined as part of the Commission review of the methods, assumptions and standard parameters used when calculating the Solvency Capital Requirement with the standard formula, as referred to in recital 150 of that Delegated Regulation.
Amendment 397 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable and unconventional energy; and energy and resource efficiency;
Amendment 400 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable energy and energy and resource efficiency, taking into account regional potential for smart investments;
Amendment 419 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
Article 5 – paragraph 2 – subparagraph 1 – point e a (new)
(ea) any project covered by the objectives set out in Article 3 and 4 of Regulation (EU) No 1316/2013
Amendment 420 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e b (new)
Article 5 – paragraph 2 – subparagraph 1 – point e b (new)
(eb) any project covered by the objectives set out in Article 5 of Regulation(EU) No 1291/2013
Amendment 423 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2
Article 5 – paragraph 2 – subparagraph 2
In addition, the EU guarantee shall be granted for support of dedicated investment platforms, and national promotional banks, Alternative Investment Fund Managers (AIFM), which manage alternative investment funds (AIFs) authorised in accordance with Directive 2011/61/EU, managers of collective investment undertakings authorised in accordance with Regulation (EU) No 345/2013 (qualifying venture capital funds) and managers of collective investment undertakings in accordance with Regulation (EU) No 346/2013 (qualifying social entrepreneurship funds), via the EIB, that invest in operations meeting the requirements of this Regulation. In that case, the Steering Board shall specify policies regarding eligible investment platforms. , AIFs, qualifying venture capital and social entrepreneurship funds.
Amendment 433 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2 a (new)
Article 5 – paragraph 2 – subparagraph 2 a (new)
EIB financing and investment opportunities on the territory of a Member State according to this Regulation shall only be approved if the relevant Member State is in compliance with Council recommendations under Regulation (EC) No 1466/97, Regulation (EU) No 1176/2011 and has made significant progress regarding the country specific recommendations under the European Semester.
Amendment 453 #
2015/0009(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) In order to cover the risks related to the EU guarantee to the EIB, a guarantee fund should be established. The guarantee fund should be constituted by a gradual paymentcontribution from the Union budget. The guarantee fund should subsequently also receive revenues and repayments from projects that benefit from EFSI support and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the EIB.
Amendment 471 #
2015/0009(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) To partially finance the contribution ofrom the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 of the European Parliament and of the Council2 , and the Connecting Europe Facility, provided by Regulation (EU) No 1316/2013 of the European Parliament and of the Council3 , should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within those areas of research, development and innovation and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSIo the EU budget Guarantee Fund will be done on a progressive basis using various possibilities within the EU budget. In order of priority, the contribution will be financed by the annual surplus, the unused funds, the Flexibility Instrument and the margins of the EU budget. __________________ 3 Regulation (EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129).
Amendment 479 #
2015/0009(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) To partially finance the contribution from the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 will be progressively authorised by a decision of the European Parliament and of the Council2 , and the Connecting Europe Facility, provided by Regulation (EU) No in the framework of the annual budgetary procedures up to 2020, using in priority all provisions under Council regulation (EU, Euratom) n°13161/2013 of the European Parliament and of the Council3 , should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a grealaying down the multiannual financial framework for the years 2014- 2020, in particular its articles 5, 11, 13 and 14, as well as any budgetary surplus entered investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within thto the general budget of the European Union, and avoiding to affect programmes that already serve an investment purpose, areas of research, development and innov operational and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI. __________________ 3Regulation (EU) No 1316/2013 of the European Parliament and of the Coucontain a possibility to use innovative financial instruments. Therefore, envelops of programmes under the sub-heading 1A of the multiannual financial of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129)framework could be reduced only if proved necessary and as a last resort solution.
Amendment 484 #
2015/0009(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) an assessment of the added value, the mobilisation of private sector resources, the estimated and actual outputs, outcomes and impact of EIB financing and investment operations at an aggregated basis;, and by project level where disclosure of data is allowed.
Amendment 494 #
2015/0009(COD)
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. At the request of the European ParliamenOn a quarterly basis or upon specific request, the Managing Director shall participate in a hearing of the European Parliament on the performance of the EFSI.
Amendment 519 #
Amendment 522 #
2015/0009(COD)
Proposal for a regulation
Article 19
Article 19
Amendment to Regulation (EU) No In Article 5 of Regulation (EU) No 1316/2013, paragraph 1 is replaced by the following: ‘1. The financial envelope for the implementation of the CEF for the period 2014 to 2020 is set at EUR 29 942 259 000 (*) in current prices. That amount shall be distributed as follows: (a) transport sector: EUR 23 550 582 000, of which EUR 11 305 500 000 shall be transferred from the Cohesion Fund to be spent in line with this Regulation exclusively in Member States eligible for funding from the Cohesion Fund; (b) telecommunications sector: EUR 1 041 602 000; (c) energy sector: EUR 5 350 075 000. These amounts are without prejudice to the application of the flexibility mechanism provided for under Council Regulation (EU, Euratom) No 1311/2013(*). (*) Council Regulation (EU, Euratom) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20 (OJ L 347, 20.12.2013, p. 884).rticle 19 deleted 1316/2013
Amendment 523 #
2015/0009(COD)
Proposal for a regulation
Recital 35
Recital 35
(35) In order to ensure an appropriate coverage of the EU guarantee obligations and to ensure the continued availability of the EU guarantee, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission with respect to the adjustment of the amounts to be paid in from the general budget of the Union and to amend Annex I accordingly. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and to the Council.
Amendment 526 #
2015/0009(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The economic and financial crisis has led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15% since its peak in 2007. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on Member States. This lack of investment slows economic recovery and negatively affects structural job creation, long-term growth prospects and competitiveness.
Amendment 527 #
2015/0009(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through initiatives set out in the Europe 2020 strategy, that put in place an approach for smart, sustainable and inclusive growth, and through the European Semester for economic policy coordination. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. Further action is required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects.
Amendment 528 #
2015/0009(COD)
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7 a) Points out that the effectiveness of additional investment is dependent on the competitiveness and efficiency of a country's economy and on investors' confidence in the sustainability of a country's public finances, and therefore believes that a country should only be eligible to receive funds under the European Fund for Strategic Investment if the Commission in its assessment of Member States' Draft Budgetary Plans deems that: i. the country is in compliance with the Stability and Growth Pact or the Excessive Deficit Procedure recommendations; and ii. the country has made sufficient progress in the implementation of its Country-Specific Recommendations.
Amendment 529 #
2015/0009(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. In particular, the EFSI should target projects that promote structural job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 531 #
2015/0009(COD)
Proposal for a regulation
Recital 26 a (new)
Recital 26 a (new)
(26 a) In order to guarantee the successful and timely development of financed projects, and therefore to maximise their effectiveness in creating jobs and growth, the Commission shall draft a European Crisis and Recovery Regulation, which should temporarily exempt infrastructural projects financed by EFSI from existing EU legislation that causes delay as a result of administrative procedures, mainly concerning appeal procedures and reporting on compliance with existing legislation. This European Crisis and Recovery Regulation should shorten administrative procedures in a fashion fitting the present urgency presented by the economic situation in Europe. The Commission shall put forward a proposal for a European Crisis and Recovery Regulation to the Council and the European Parliament no later than three months after the adoption of the present regulation.
Amendment 534 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 6 – subparagraph 1
Article 8 – paragraph 6 – subparagraph 1
By 31 December 2018, and every year thereafter, the Commission shall review the adequacy of the level of the guarantee fund taking into account any reduction of resources resulting from the activation of the guarantee and the EIB's assessment submitted in accordance with Article 10(3). Under no circumstances the budgets of Horizon2020 and the Connecting Europe Facility may be further impacted by the outcome of this review.
Amendment 535 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 8
Article 8 – paragraph 8
8. From 1 January 2019, if as a result of calls on the guarantee, the level of the guarantee fund falls below 50% of the target amount, the Commission shall submit a report on exceptional measures that may be required to replenish it. In the case that such a report is drafted, under no circumstances may the budgets of Horizon2020 and the Connecting Europe Facility be further impacted by its contents.
Amendment 541 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
The Commission shall conclude annegotiate a draft agreement with the European Investment Bank (EIB) on the establishment of a European Fund for Strategic Investments ('EFSI') in line with the requirements of this Regulation.
Amendment 580 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
1 a. Definitions For the purposes of this Regulation only, the following definitions apply: (a) 'national promotional banks or institutions' means legal entities carrying out financial activities on a professional basis which are conferred a mandate by a Member State, whether at central, regional or local level, to carry out public development or promotional activities; (b) 'investment platforms' means special purpose vehicles, managed accounts, contract-based co-financing or risk sharing arrangements or arrangements established by any other means via which entities channel a financial contribution in order to finance a number of investment projects; (c) 'small and medium-sized enterprises' or 'SMEs' means micro, small and medium-sized enterprises as defined in Recommendation 2003/361/EC. (d) 'mid-cap companies' means legal entities having up to 3000 employees which are not SMEs. (e) 'EFSI Agreement' means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI. (f) 'EIAH Agreement' means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the implementation of EIAH. (g) 'additionality' means the support by the EFSI of operations which address market failures or sub-optimal investment situations and which could not have been carried out in that period under normal EIB instruments without EFSI support or to the same extent during that period under EIF and EU instruments. The projects supported by the EFSI, while striving to create jobs and growth, shall typically have a higher risk profile than projects supported by normal EIB operations and the EFSI portfolio shall have overall a higher risk profile than the current portfolio of investments supported by the EIB under its normal investment policies.
Amendment 595 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States, under the terms laid out in the EFSI Agreement. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties, including national promotional banks or public agencies owned or controlled by Member States, and private sector entities. The Member States and other third parties may not take part in the EFSI governance structure.
Amendment 599 #
2015/0009(COD)
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2a. The Commission shall be empowered to enter into the EFSI Agreement on behalf of the Union by means of a delegated act in accordance with Article 17, provided that the EFSI Agreement meets the requirements of this Regulation.
Amendment 692 #
2015/0009(COD)
Proposal for a regulation
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
1a. Eligibility criteria for the use of the EU guarantee 1. The EFSI Agreement shall provide that EFSI is to support projects which: (a) are consistent with Union policies, (b) are economically and technically viable, (c) provide additionality, and (d) maximise where possible the mobilisation of private sector capital.
Amendment 737 #
2015/0009(COD)
Proposal for a regulation
Article 2 – paragraph 3 a (new)
Article 2 – paragraph 3 a (new)
3a. When insurance and reinsurance undertakings contribute directly to the EFSI Agreement or co-finance together with the EFSI infrastructure projects, such direct contribution and co-financing shall be treated as Type 1 exposures for the calculation of the Solvency Capital Requirement as set out in Title I Chapter V Section 6 of Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II). Infrastructure investment projects benefiting from the EFSI support should also be treated as Type 1 exposures for the calculation of the Solvency Capital Requirement.
Amendment 738 #
2015/0009(COD)
Proposal for a regulation
Article 2 – paragraph 3 a (new)
Article 2 – paragraph 3 a (new)
3a. The Commission is responsible for the implementation of the EU budget.
Amendment 772 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 793 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
Amendment 808 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 a (new)
Article 3 – paragraph 3 – subparagraph 3 a (new)
When a national court of audit or an independent council or any anti- corruption body of a Member State has expressed some concerns on a project, a type of investment or on a body having the responsibility of investing public money and these concerns are communicated to the EFSI, the Steering Board should take into account the opinions expressed and shall take a decision by a majority of three quarters of the votes.
Amendment 815 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 2
Article 3 – paragraph 4 – subparagraph 2
The Managing Director shall report every quarter on the activities of the EFSI to the Steering Board and the European Parliament.
Amendment 852 #
2015/0009(COD)
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The experts of the Investment Committee shall be composed of six independentappointed following an open and transparent selection procedure. In appointing the experts andto the Managing Director. Independent experts shallInvestment Committee, the Steering Board shall ensure that the composition of the Investment Committee is diversified, so as to ensure that it haves a high level of relevant market experience in project finance and be appointed by the Steering Board for a renewable fixed term of three yearswide knowledge of the sectors covered in Article 2a and geographic markets within the Union. The Steering Board of the EFSI shall supervise the fulfilment of the EFSI's objectives. When participating in the activities of the Investment Committee its members shall perform their duties impartially and in the interests of the EFSI. When implementing the guidelines adopted by the Steering Board and taking decisions on the use of the EU guarantee, they shall not seek nor take instructions from the EIB, the Union institutions, the Member States or any other public or private body. Adequate organisational arrangements shall be in place to ensure operational independence of the Investment Committee, without prejudice to the provision of analytical, logistical and administrative support by the staff of the EIB to the Investment Committee.
Amendment 942 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital and telecoms infrastructure;
Amendment 1019 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2
Article 5 – paragraph 2 – subparagraph 2
In addition, the EU guarantee shall be granted for support of dedicated investment platforms, and national promotional banks, Alternative Investment Fund Managers (AIFM), which manage alternative investment funds (AIFs) authorised in accordance with Directive 2011/61/EU, managers of collective investment undertakings authorised in accordance with Regulation 2013/345/EU (qualifying venture capital funds) and managers of collective investment undertakings in accordance with Regulation 2013/346/EC (qualifying social entrepreneurship funds), via the EIB, that invest in operations meeting the requirements of this Regulation. In that case, the Steering Board shall specify policies regarding eligible investment platforms, AIFs, qualifying venture capital and social entrepreneurship funds.
Amendment 1044 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
2a. EIB financing and investment opportunities on the territory of a Member State according to this Regulation shall only be approved if the relevant Member State is in compliance with Council recommendations under Regulation (EC) No 1466/97, Regulation (EU) No 1176/2011 and has made significant progress regarding the country specific recommendations under the European Semester.
Amendment 1102 #
2015/0009(COD)
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. The EU guarantee to the EIB shall be of an amount equal to EUR 16 000 000 000, of which a maximumt least an amount of EUR 2 500 000 000 mayshall be allocated for EIB funding to the EIF in accordance with paragraph 2. Without prejudice to Article 8(9), aggregate payments from the Union under the guarantee to the EIB shall not exceed the amount of the guarantee.
Amendment 1126 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point a
Article 8 – paragraph 2 – point a
(a) paymentcontributions from the general budget of the Union,
Amendment 1134 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point d
Article 8 – paragraph 2 – point d
(d) any other paymentcontributions received by the Union in accordance with the EFSI Agreement.
Amendment 1138 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. Endowments to the guarantee fund provided for in points (b), (c) and (d) of paragraph 2 shall constitute internal assigned revenues in accordance with Article 21(4) of Regulation (EU) No 966/2012.
Amendment 1139 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
4. The resources of the guarantee fund provided to it under paragraph 2 shall be directly managed by the Commission and invested in accordance with the principle ofs such as sound financial management, transparency, proportionality, non- discrimination, equal treatment, additionality, non-distortion of competition, alignment of interest between the Commission and the EIB and follow appropriate prudential rules.
Amendment 1148 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 5 – subparagraph 2
Article 8 – paragraph 5 – subparagraph 2
The target amount shall initially be met by the gradual paymentmobilisation of resources referred to in paragraph 2(a). If there have been calls on the guarantee during the initial constitution of the guarantee fund, endowments to the guarantee fund provided for in points (b), (c) and (d) of paragraph 2 shall also contribute to meet the target amount up to an amount equal to the calls on the guarantee.
Amendment 1154 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 5 a (new)
Article 8 – paragraph 5 a (new)
5a. Without prejudice to Article 8(5), the initial target amount shall be met by gradual budgetary contributions to the guarantee fund, to be decided by the budgetary authority in the frame of the annual budgetary procedures up to 2020, making use in priority of all means available under Council regulation 1311/2013 of 2 December 2013 laying down the multiannual Financial Framework 2014-2020, in particular article 5, 11, 13, 14, as well as any budgetary surplus entered in the general budget of the European Union. If this is not sufficient, the contribution from the Union budget is financed through the approximately equal reduction to the envelopes of different European Structural and Investment Funds, provided by Regulation (EU) No 1303/2013 of the European parliament and the Council of 17 December 2013 laying down the common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006.
Amendment 1156 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 5 b (new)
Article 8 – paragraph 5 b (new)
5b. The financing of the EU contribution to the guarantee fund shall be reviewed in the frame of the post-electoral review and revision of the multiannual financial framework due to be launched by the end of 2016 at the latest as foreseen in article 2 of Council regulation 1311/2013, of 2 December 2013, laying down the MFF 2014-2020.
Amendment 1157 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 5 b (new)
Article 8 – paragraph 5 b (new)
5b. The financing of the EU contribution to the guarantee fund shall be reviewed in the frame of the post-electoral review and revision of the multiannual financial framework due to be launched by the end of 2016 at the latest as foreseen in article 2 of Council regulation 1311/2013, of 2 December 2013, laying down the MFF 2014-2020.
Amendment 1168 #
2015/0009(COD)
Proposal for a regulation
Article 8 – paragraph 7 – point a
Article 8 – paragraph 7 – point a
(a) any surplus shall be paid in one transaction to a special heading in the statement of revenue in the general budget of the European Union of the year n+1, and shall be reallocated to programmes which envelopes might have been reduced to finance the guarantee fund, as referred to in paragraph 5a (new), in order to compensate these losses;
Amendment 1257 #
2015/0009(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point f
Article 10 – paragraph 2 – point f
(f) the financial statements of the EFSI accompanied by an opinion of an independent external auditor.
Amendment 1277 #
2015/0009(COD)
Proposal for a regulation
Article 10 – paragraph 6
Article 10 – paragraph 6
6. The Commission shall, by 30 June of each year, send to the European Parliament, the Council and the Court of Auditors an annual report ondetailing the situation of the guarantee fund and the management thereof in the previous calendar year, and the compliance with articles 5, 7 and 8 of this regulation.
Amendment 1284 #
2015/0009(COD)
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. At the request of the European ParliamenOn a quarterly basis or upon specific request, the Managing Director shall participate in a hearing of the European Parliament on the performance of the EFSI.
Amendment 1296 #
2015/0009(COD)
Proposal for a regulation
Article 11 – paragraph 2 a (new)
Article 11 – paragraph 2 a (new)
2a. Upon request of the competent committees of the European Parliament, and without disclosing information on ongoing investigations, OLAF may provide information on the application of this Regulation.
Amendment 1298 #
2015/0009(COD)
Proposal for a regulation
Article 11 – paragraph 2 b (new)
Article 11 – paragraph 2 b (new)
2b. Minutes of the meetings of the Steering Board shall be made available to the European Parliament including for each project the results of the votes in case the Steering Board did not take a decision by consensus.
Amendment 1299 #
2015/0009(COD)
Proposal for a regulation
Article 11 – paragraph 3
Article 11 – paragraph 3
3. At the request of the European Parliament, the Commission and/or the EIB shall report to the European Parliament on the application of this Regulation.
Amendment 1355 #
2015/0009(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
The EU guarantee and the payments and recoveries under it that are attributable to the general budget of the Union shall be audited by the Court of Auditors. It shall audit all of the operations/instruments/entities/facilities carried out using the EU guarantee.
Amendment 1362 #
2015/0009(COD)
Proposal for a regulation
Article 15 – paragraph 2 – subparagraph 1
Article 15 – paragraph 2 – subparagraph 1
OLAF may carry out investigations, including on-the-spot checks and inspections, in accordance with the provisions and procedures laid down in Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council(5 ), Council Regulation (Euratom, EC) No 2185/96(6 ) and Council Regulation (EC, Euratom) No 2988/95 (7 ) in order to protect the financial interests of the Union, with a view to establishing whether there has been fraud, corruption, money laundering or any other illegal activity affecting the financial interests of the Union in connection with any operations supported by the EU guarantee. OLAF may transmit to the competent authorities of the Member States concerned information obtained in the course of investigations. The competent authorities shall follow up on the information transmitted, unless not compatible with the national legal framework. __________________ 5 Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1074/1999 (OJ L 248, 18.9.2013, p. 1). 6 Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspections carried out by the Commission in order to protect the European Communities' financial interests against fraud and other irregularities (OJ L 292, 15.11.1996, p. 2). 7 Council Regulation (EC, Euratom) No 2988/95 of 18 December 1995 on the protection of the European Communities financial interests (OJ L 312, 23.12.1995, p. 1).
Amendment 1391 #
Amendment 1397 #
2015/0009(COD)
Proposal for a regulation
Article 18
Article 18
Regulation (EU) N°1291/2013
Article 6 – paragraphs 1, 2 and 3
Article 6 – paragraphs 1, 2 and 3
Amendment 1433 #
2015/0009(COD)
Proposal for a regulation
Article 19
Article 19
Amendment to Regulation (EU) No In Article 5 of Regulation (EU) No 1316/2013, paragraph 1 is replaced by the following: ‘ 1. The financial envelope for the implementation of the CEF for the period 2014 to 2020 is set at EUR 29 942 259 000 (*) in current prices. That amount shall be distributed as follows: (a) transport sector: EUR 23 550 582 000, of which EUR 11 305 500 000 shall be transferred from the Cohesion Fund to be spent in line with this Regulation exclusively in Member States eligible for funding from the Cohesion Fund; (b) telecommunications sector: EUR 1 041 602 000; (c) energy sector: EUR 5 350 075 000. These amounts are without prejudice to the application of the flexibility mechanism provided for under Council Regulation (EU, Euratom) No 1311/2013(*). (*) Council Regulation (EU, Euratom) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20 (OJ L 347, 20.12.2013, p. 884). ’rticle 19 deleted 1316/2013
Amendment 1440 #
2015/0009(COD)
Proposal for a regulation
Article 19
Article 19
Regulation (EU) N°1316/2013
Article 5, paragraph 1
Article 5, paragraph 1
Amendment to Regulation (EU) No In Article 5 of Regulation (EU) No 1316/2013, paragraph 1 is replaced by the following: ‘ 1. The financial envelope for the implementation of the CEF for the period 2014 to 2020 is set at EUR 29 942 259 000 (*) in current prices. That amount shall be distributed as follows: (a) transport sector: EUR 23 550 582 000, of which EUR 11 305 500 000 shall be transferred from the Cohesion Fund to be spent in line with this Regulation exclusively in Member States eligible for funding from the Cohesion Fund; (b) telecommunications sector: EUR 1 041 602 000; (c) energy sector: EUR 5 350 075 000. These amounts are without prejudice to the application of the flexibility mechanism provided for under Council Regulation (EU, Euratom) No 1311/2013(*). (*) Council Regulation (EU, Euratom) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20 (OJ L 347, 20.12.2013, p. 884). ’rticle 19 deleted 1316/2013
Amendment 1470 #
2015/0009(COD)
Proposal for a regulation
Article 20 – paragraph 2
Article 20 – paragraph 2
The Commission shall assess those operations and, where they comply with the substantive requirements set out in Article 5 and in the EFSI Agreementprinciples of operations' own merit, and without any geographic or sectorial allocation, decide that the EU guarantee coverage extends to them.
Amendment 1472 #
Amendment 2 #
2014/2256(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Stresses that the European cultural and creative industries are an engine for economic growth and job creation in the EU, as they employ more than 7 million people and generate more than 4.2 % of EU GDP; emphasises that culturalstresses that new business models and innovative services online have been created and that according to the European Parliament's Cost of Non- Europe, 223 000 jobs will be created by the Digital Single Market by 2020; emphasises that cultural, creative and innovative industries continued to create jobs during the economic crisis of 2008- 2012; ;
Amendment 38 #
2014/2256(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. AWelcomes the commitment of the Commission on further developing the EU Digital Agenda, including the objective of modernising copyright rules; acknowledges the need to review Directive 2001/29/EC in order to ensure appropriate remuneration for copyright holders and appropriate protection of these rights in a changing and constantly evolving technological environment, which brings both opportunities and challenges;
Amendment 105 #
2014/2256(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls on the Commission to propose an harmonised framework for exceptions and limitations to address the fragmented market, improve legal security and foster cross-border accessibility of copyright content, to allow equal access to cultural diversity across the EU and to conform to consumer expectations;
Amendment 130 #
2014/2256(INI)
Draft opinion
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Believes that common effort should be made in combatting copyright infringements in the EU in order to ensure the protection of copyright and fair remuneration; stresses the need to raise consumer awareness of the consequence of infringement of copyright and related rights;
Amendment 14 #
2014/2228(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls on the Commission to maintain the objective of including a specific energy chapter in the TTIP which could significantly increase the EU’s energy securityith the aim to create a competitive, transparent and non- discriminatory market, which ensures enhanced energy supply security for the EU, encourages trade and competitiveness and provides for affordable energy prices, while upholding existing high environmental standards;
Amendment 76 #
2014/2228(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Calls on the Commission to work on transatlantic harmonisation of standards and regulations that define the principles of public support for different energy sources and/or in environment and energy sectors as such;
Amendment 101 #
2014/2228(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Points to the huge differentials between the USA and the EU in energy prices but also in per capita CO2 emissions; calls on the Commission, therefore, to provide energy-intensive and carbon-leakage sectors in the EU, including the chemicals industry, with appropriate measures maintaining current tariff rates over the longest possible period after the entry into force of the TTIP;
Amendment 133 #
2014/2228(INI)
Draft opinion
Paragraph 5 – point 1 (new)
Paragraph 5 – point 1 (new)
(1) Expects that the priorities and concerns of SMEs will be fully addressed in a specific SME chapter; urges that the needs of SMEs will be fully taken into account as concerns regulatory coherence;
Amendment 135 #
2014/2228(INI)
Draft opinion
Paragraph 5 – point 2 (new)
Paragraph 5 – point 2 (new)
(2) Furthermore, calls on the Commission to promote an establishment of a free of charge common information mechanism for SMEs to support their engagement in the transatlantic trade. Among other a hotline and a web portal should be considered, so that European SMEs would be getting similar kind of comfort and support as there is in the EU.
Amendment 137 #
2014/2228(INI)
Draft opinion
Paragraph 5 – point 3 (new)
Paragraph 5 – point 3 (new)
(3) Calls on the Commission to ensure user friendly rules of origin (ROO) that can be easily applied by EU exporters and to minimise unnecessary obstacles to trade and red-tape created by ROO, especially for SMEs;
Amendment 145 #
2014/2228(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Requests that the Commission facilitate more active participation of EU firms in US public procurement as this can contribute to stimulating private-sector innovation and to the emergence of new, high-growth innovative companies and sectors;. If this facilitation is to be meaningful, the US Government has to guarantee free access not only on federal level but on the level of individual states too.
Amendment 156 #
2014/2228(INI)
Draft opinion
Paragraph 6 – point 1 (new)
Paragraph 6 – point 1 (new)
(1) Expects the Commission to address in the negotiations the issue of „buy American", "Jones" and „domestic content" Act which in practice significantly handicap EU companies in access to the US market, especially in the dredging and engineering sector.
Amendment 163 #
2014/2228(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Reminds the Commission, while welcoming the potential benefits of regulatory alignment and mutual recognition, including the establishment of common principles in standards and technical specifications in the area of ICT, about the importance of maintaining high levels of safety and security;. Encourages the Commission to work on seeking regulatory alignment in sectors that are of particular interest of the EU industry, such as automotive (final products and components), engineering (including highly sophisticated products) and chemical sectors. This should result, wherever appropriate, in the recognition of equivalence of existing regulations; (proposing to delete ,,in the area of ICT", as this should apply en bloc)
Amendment 182 #
2014/2228(INI)
Draft opinion
Paragraph 7 – point 1 (new)
Paragraph 7 – point 1 (new)
(1) Calls on the Commission to maintain a comprehensive and balanced approach on both tariff dismantling and regulatory harmonization. An unbalanced result in this respect would seriously hamper the competitiveness of European businesses.
Amendment 183 #
2014/2228(INI)
Draft opinion
Paragraph 7 – point 2 (new)
Paragraph 7 – point 2 (new)
(2) Calls on the Commission to ensure that TTIP will create a climate in which innovators are encouraged to invest in research, development and commercialisation of new technologies, including efficient and innovative energy and environment technologies. This should be achieved through facilitating investments in innovation, reducing unjustified regulatory differences and unnecessary administrative burden and improve regulatory coordination in innovative sectors;
Amendment 37 #
2014/2221(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Believes that there should be a role foreseen for the European Court of Justice in EMU in case a Member State does not respect the rules, which would allow a Member State taking another Member State to court over the non- compliance with the rules;
Amendment 80 #
2014/2221(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Underlines that Member States must ringfence their investment funds in their national budgets in order to take part in the European Strategic Investment Fund. Stresses that it is important that the European funds will lead to additional investment, not just replacing national investment funds that would go to consumption;
Amendment 86 #
2014/2221(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Points out that the effectiveness of additional investment is dependent on the competitiveness and efficiency of a country's economy and on investors' confidence in the sustainability of a country's public finances, and therefore believes that a country should only be eligible to receive funds under the European Fund for Strategic Investment if the Commission in its assessment of Member States' Draft Budgetary Plans deems that: i. the country is in compliance with the Stability and Growth Pact or the Excessive Deficit Procedure recommendations; and ii. the country has made sufficient progress in the implementation of its Country-Specific Recommendations.
Amendment 88 #
2014/2221(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Stresses that there should be a special regime for SME:s to the Investment Fund in order to create a level-playing field as SME:s easily are put into disadvantage due to their size and market position.
Amendment 103 #
2014/2221(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines the fact that the overall indebtedness of Member States in the euro area is not only an obstacle to growth but also puts a huge burden on future generations;
Amendment 111 #
2014/2221(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the ambitious structural reforms implemented by those Member States most affected by the crisis; welcomes as well the fact that those Member States that have successfully implemented adjustment programmes or financial sector programmes have been able to return to the capital markets, where they now access capital at low interest rates; finds it regrettable that the Member States in the rest of the euro area are less ambitious in modernising their economies;
Amendment 125 #
2014/2221(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls on the Member States to continue the process of deep and sustainable structural reforms to make their labour markets more efficient, to modernise social protection systems, including pensions, and to improve and streamline the legal and administrative environment for business investment; stresses that structural reforms need to be complemented by well-targeted, longer- term investments in education, research and development, innovation, infrastructure, ICT and, sustainable energy and human resources;
Amendment 133 #
2014/2221(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Underlines that the Member States should pay particular attention to youth unemployment when making reforms in order not to deprive young people of their opportunities from the start;
Amendment 140 #
2014/2221(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Points out that EU financial assistance to certain Member States, provided on terms combining solidarity with conditionality, has proved to be most successful when there was a strong ownership and commitment to reform; reminds the Commission and the Member States that they need to explore ways of bringing the financial assistance under the EU framework; calls therefore for the creation of a European Monetary Fund (EMF) on the basis of Union law, which would be subject to the Community method;
Amendment 163 #
2014/2221(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Calls on the Commission, as guardian of the Treaty, to make full use of all measures provided for in EU law to support the enforcement of the implementation of the European Semester;
Amendment 164 #
2014/2221(INI)
Motion for a resolution
Paragraph 15 b (new)
Paragraph 15 b (new)
15b. Is concerned about protectionist tendencies in certain Member States; points out that the Treaty does not provide for the restriction of the free movement of people, services or capital, and recalls that the Commission must safeguard and enforce these freedoms;
Amendment 202 #
2014/2221(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Agrees with the Commission that most Member States need to continue to pursue growth-friendly fiscal consolidation; invites Member States with sufficient fiscal space to consider reducing taxes and social security contributions with a view to stimulating private investment; stresses the fact that special emphasis should be placed on growth-enhancing reforms and policies;
Amendment 206 #
2014/2221(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Notes the excessively high public debt levels, particularly in the euro area; urges Member States and the Commission to address the debt overhang by establishing a European debt redemption fund based on conditionality combining structural reforms with fiscal incentives; points out that such a debt redemption fund needs to go hand in hand with an insolvency procedure for sovereigns safeguarding market discipline;
Amendment 226 #
2014/2221(INI)
Motion for a resolution
Subheading 4
Subheading 4
Strengthened coordination of national policiesand international policies, and improved democratic accountability
Amendment 239 #
2014/2221(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Calls on the Commission to put forward a proposal on the single external representation of the euro area based on Article 138 TFEU;
Amendment 241 #
2014/2221(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23b. Reiterates its view that the current economic governance framework is lacking sufficient democratic accountability in the application of its rules and of the institutions and bodies involved; calls on the Commission to make the necessary proposals to address the lack of proper democratic accountability in EU economic governance;
Amendment 5 #
2014/2211(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
- having regard to the Commission communication of 28 May 2015 entitled 'European Energy Security Strategy (COM 2014/0330),
Amendment 17 #
2014/2211(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the steel sector, which hasEuropean steel industry, which is the second largest steenl producer in the world and accounts for 328 000 direct jobs and millions of dependent jobs, has experienced a loss of over 40 MT of steel production capacity close since 2008 and hasa losts of more than 60 000 jobs directly and over 100 000 jobs indirectly, is experiencing its most serious peacetim since 2008; this severe crisis ever, resultings in dependency and losseson imports from third countries and drain of industrial know- how;
Amendment 23 #
2014/2211(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the base metals industry is facing a significant drop in demand as well as strong global competition, mainly from third countries without the same high standards and strict regulations as in Europe;
Amendment 24 #
2014/2211(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas energy prices in Europe are higher than in a number of other economies, mainly due to insufficient energy market integration, rising taxes, levies and network costs and significantly restrict the competitiveness of the European base metals industry in the global market;
Amendment 25 #
2014/2211(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
Ad. whereas investments in renewable energy and energy efficiency are an important driver for investments in industrial products, including copper, aluminium and steel;
Amendment 26 #
2014/2211(INI)
Motion for a resolution
Recital A e (new)
Recital A e (new)
Ae. whereas production innovation has a positive effect on employment growth in all phases of the business cycle of industries;
Amendment 27 #
2014/2211(INI)
Motion for a resolution
Recital A f (new)
Recital A f (new)
Af. whereas the European base metals industry faces serious investment leakage to third countries, mainly driven by comparably high energy prices and carbon cost;
Amendment 32 #
2014/2211(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the successive closures of European aluminium electrolysis plants show that Europe is facing rapidly deindustrialising when it comes to this metalation in this sector;
Amendment 39 #
2014/2211(INI)
Motion for a resolution
Recital C
Recital C
C. whereas when the emissions permits under the European emission allowance trading scheme (ETS) become more expensive, a full-blown competition crisis is liable to arise; nd as long as no comparable efforts are undertaken in other major economies, a number of industrial sectors in the EU will lose international competitiveness which may lead to carbon leakage, unless specific measures to prevent this risk are taken;
Amendment 49 #
2014/2211(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the EU base metals industry is locked facing a race against time to meet the social and environmental challenges it faces and which it must address while remaining a reference for the world in terms of the social and environmental responsibility of its operations;
Amendment 72 #
2014/2211(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas 65% of business spending on R&D is done by the manufacturing industry, and hence the strengthening of our industrial base is essential to keep expertise and know-how in the EU;
Amendment 79 #
2014/2211(INI)
Motion for a resolution
Subheading 1
Subheading 1
The overriding need to act on climate change and high energy prices
Amendment 88 #
2014/2211(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Understands that the European Commission has launched discussions which will culminate in the reform of the ETS for the fourth period 2021-2028 and calls, in this connection, for the fight against climate change to focus on efficiency and op30 should ensure that the system is robust and delivers the EU's long-term climate goals in a cost-efficient way, while incentimvising yields rather than on limiting productioninvestments in low-carbon technologies; recalls, in this connection, the importance of energy efficiency;
Amendment 98 #
2014/2211(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission, therefore, to amend the system for allocating emissions allowances via extensive application of the assessment used for the reference values applicable to industry, which are based on greenhouse gas emissions per tonne produced and not per facility, as it is the cleanest plants which are needed to produce moreso that sectors at risk of carbon leakage will be provided with 100% free allocation at the level of the 10% best performing installations, based on technically and economically achievable benchmarks; calls in this regard for the allocation of allowances to be based on greenhouse gas emissions per tonne produced and not per facility in order to incentivise production and promote growth for carbon-efficient installations;
Amendment 105 #
2014/2211(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls also for abolition of the applicain this context for the abolition of the cross-sectoral correction factor to the industries concerned in order to promote the virtuous practices of industrialists and workers who have made the necessary efforts to achieve minimum emissions by adopting the best available techniquesfor carbon-leakage industries as this imposes additional costs on even the most efficient installations in the EU;
Amendment 112 #
2014/2211(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Highlights that international climate action is the best recipe to prevent carbon leakage; looks forward in this regard to COP21 climate conference in Paris;
Amendment 115 #
2014/2211(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that the two dimensions of competitiveness and emissions cutsreduction are becoming complementary since, ifas the European production becomes carbon- virtuous, preservation of its share of the European andis transforming into a truly low-carbon economy, preservation of its strong world markets share is an effective means of contributing to an overalthe global limitation of greenhouse gas emissions of industrial origin; adds that the same applies to the production of imported goods, for which the same approach should be followed;
Amendment 119 #
2014/2211(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Notes that energy prices in Europe are considerably higher than in third countries, especially the US, making energy-intensive industries such as the base metal sector less competitive on the global market; welcomes the Commission proposal on the European Energy Union; believes that a well-functioning internal energy market that delivers secure and sustainable energy and ensures adequate interconnections of Member States will help to lower energy prices for European industry and consumers; emphasises in this connection that an ambitious energy chapter in TTIP could contribute to increased energy security and affordable energy prices in Europe;
Amendment 130 #
2014/2211(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Understands that the Commission has launched discussions for a proposal on the promotion of the circular economy; stresses the importance of a life cycle approach in the EUs climate and energy policies; highlights in this context the positive impact of secondary metals, which help to significantly reduce energy and raw material input; calls therefore on the Commission to facilitate the development and functioning of secondary metal markets;
Amendment 133 #
2014/2211(INI)
Motion for a resolution
Subheading 2
Subheading 2
Amendment 134 #
2014/2211(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises firmly that, ever since the crethat the negotiations of the In an international Negotiating Committee that prepared the Rio Convention in 1992, the EU has been seeking to negotiate with third countries an international agreement aimed at protecting against climate change, but so far without successagreement against climate change, to be completed in Paris in December 2015, must lead to a legally binding agreement with economy-wide targets for all parties, respecting the agreed objective of limiting global warming to below 2°C; underlines that a comprehensive international agreement will level the playing field for industry and reduce the risk of carbon leakage from the EU;
Amendment 146 #
2014/2211(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Highlights the fact that an international agreement on combating climate change that creates circumstances of fair competition for all base metal producers would render considerations of a border adjustment unnecessary;
Amendment 155 #
2014/2211(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Notes that base metals are traded against prices determined by global demand and supply, mostly set by the London Metal Exchange; understands, therefore, that base metal producers are 'price-takers', which are unable to pass cost increases on to their customers; reaches the conclusion that it is imperative to keep compensations on indirect emissions in place;
Amendment 159 #
2014/2211(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. MUnderlines that any measures affecting trade must respect international trade agreements; maintains that the climate policy objectives of protecting the life and health of humans, animals and plants, and of the conservation of finite natural resources, are consonant with the exceptions set out in Article XX of the WTO Agreement; specifies that the global nature of the climate issue, and the fact that an atmosphere with a low carbon content (clean air) is a global public good, means that it is already viewed as a natural resource that can be exhausted;
Amendment 170 #
2014/2211(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that knowing the carbon content, which is assessed on an industry- wide basis, is essential for building an international system for combating greenhouse gas emissions; points out that the establishing of border adjustment measures is thus the precursor of an international system to combat CO2 emissionsagreed standards on the calculation of the carbon content and the life-cycle emissions of products increases transparency and can facilitate the promotion of sustainable production and consumption, including in the metals industry;
Amendment 177 #
2014/2211(INI)
Motion for a resolution
Subheading 4
Subheading 4
Compensation for indirect emissions: unfair competition among European countries
Amendment 183 #
2014/2211(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Regrets that compensation for indirect costs has created a new factor in competitive inequality in Europe among producers in electricity-intensive sectors, who can receive financial support from the authorities in their countries; adds that this compensation, which was devised as a transitional measure, should swiftly be reduced and, especially, be grantshould be harmonised at European level in order not to distort competition among European producers;
Amendment 206 #
2014/2211(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Urges that free allowances be allocated strictly on the basis of programmes for investment in new equipment, R&Dfor the most-efficient installations in the carbon- leakage sectors should promote further investment in clean, low-carbon technologies and the training of workers, as soon as possible and at all events during the fourth stage, covering the period 2021-2028;
Amendment 220 #
2014/2211(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Suggests that the revenue obtained from the sale of emissions allowances should be traceable so that the public can see how it isUnderlines the importance of transparency in the use of allocation revenues by Member States; refers in this regard to the obligation of Member States to inform the Commission as to the use of ETS revenues; underlines that increased transparency would help citizens see how ETS revenues are being used by the national authorities;
Amendment 224 #
2014/2211(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Suggests that any facility classified as subject to the ETS should make comprehensive information available every year, including in respect of combating climate change and compliance with EU environmental directives, and that this be accessible to workers' representatives and to the representatives of civil society from local communitiesUnderlines the necessity of transparency for the ETS system and emphasizes, in this respect, the importance of the annual publication of emission performance and allocations of CO2 rights; stresses that any additional reporting obligations should not lead to higher administrative burden for the base metals industry;
Amendment 235 #
2014/2211(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that it remains possible to conclude long-term contracts, under certain conditions, which must be compatible with a return on investment, the duration of which must be no less than 15 years in the case of highly capital-intensive industries;there is today no single market for energy in Europe and that a more integrated single market in energy could result in efficiency gains of some 50 billion euros1 a; urges to remove barriers to a well-functioning European energy market, so that energy costs for energy intensive sectors will be reduced; __________________ 1aStudy of the European Parliamentary Research Centre entitled 'Mapping the costs of non-Europe, 2014-19'
Amendment 253 #
2014/2211(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Notes that the European base metals industry is exposed to tariff and non-tariff barriers to export markets in third countries as well as restrictive measures that protect domestic production of base metals; urges the Commission to continuously reduce trade barriers and improve market access to third countries for the European base metals industry; points out that an ambitious Transatlantic Trade and Investment Partnership (TTIP) can help to improve market access and lower trade barriers
Amendment 258 #
2014/2211(INI)
Motion for a resolution
Paragraph 21 b (new)
Paragraph 21 b (new)
21b. Calls on the Commission to make use of all measures available to fight unfair trading practices from third countries and in this regard improve the reactivity and effectiveness of the EU trade defence instruments;
Amendment 97 #
2014/2209(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. SMEs can be expected to play an important role in the circular economy, providing sustainable, yet labour- intensive services such as repair, refurbishing and recycling. A tax shift from labour to natural resource use is a prerequisite for the long-term success of SMEs. The European Commission, the OECD, the IMF, the ILO, the European Parliament and the Eurogroup broadly support the principle of a tax shift from labour to natural resource use and consumption. Requests the Commission to assess the impact of a tax shift from labour to natural resource use, and come forward with initiatives for such a tax shift.
Amendment 112 #
2014/2209(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes the important role of sector federations in providing appropriate information and advice on green technologies, funding possibilities and the relevant procedures; calls on the Commission and the Member States to fill the gap where this support is lacking. In cooperation with sector federations and companies further investigate what opportunities exist and accelerate sustainable solutions and invest in environmentally friendly technologies, resource efficiency and the recycling economy;
Amendment 68 #
2014/2205(INI)
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas the European Development Finance Institutions (EDFI), a group of 15 bilateral institutions which provide long-term finance for private sector in developing and reforming economies, seeks to invest in companies with a spectrum of different development effects ranging from reliable electricity and clean water to providing SMEs finance and access to markets for small farms;
Amendment 98 #
2014/2205(INI)
Motion for a resolution
Paragraph 1 e (new)
Paragraph 1 e (new)
1e. Recalls that the official development aid (ODA) - while pushing for shared responsibility between public and private sector - must remain the key source of financing for developing countries;
Amendment 107 #
2014/2205(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Emphasises that all partnerships and alliances with the private sector must focus on shared value priorities that align business goals with the EU's development objectives and Corporate Social Responsibility (CSR) - an opportunity to create value for both the business sector and developing countries -; be co- designed and co- managed to ensure that risks, responsibilities and profits are shared; be cost-effective; and have precise targets, clear accountability and transparency;
Amendment 147 #
2014/2153(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that equal energy security, competitiveness and sustainability in a fully integrated energy market constitute the main pillars for the creation of an Energy Union, which can be achieved by pooling resources, fully exploiting domestic resources, connecting networks, ensuring unified energy market regulation and establishing unified negotiating positions vis-à-vis third countries;
Amendment 176 #
2014/2153(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Stresses the importance for strengthening energy independence of short-term measures such as storage of gas, development of reverse gas flow infrastructure, preparation of regional security of supply plans, and more effective use of the opportunities to import liquefied natural gas in those Member States which are exclusively dependent on one single supplier of natural gas; points out that there is a vital need for cooperation between the Commission, Member States, neighbouring countries, regulatory bodies, ACER, transmission system operators and gas suppliers and storage operators;
Amendment 411 #
2014/2153(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Considers that nuclear energy, which is carbon-neutral, continues to be a significant alternative for electricity production with good prospects of future innovation regarding efficiency and reduction of the time for the radioactivity of nuclear waste to decay; notes that the choice of whether to use nuclear energy remains the competence of Member States;
Amendment 441 #
2014/2153(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that the development of renewable energy sources with the objective of 20 % by 2020 and at least 27 % by 2030 is essential, taking into consideration energy costs; stresses the importance of developing smarter energy grids and new energy storage solutions for the integration of renewables; Stresses the need to use market based instruments when promoting renewables;
Amendment 14 #
2014/2059(INI)
Draft opinion
Recital C
Recital C
C. whereas the labour market is now one of the major causes of inequalityin divergences between Member States and between different sectors, owing to divergences in access to employment, working conditions, or wage levels insufficient to guarantee decent living standard due to lack of reform, working conditions and living standards as well as divergences in access to employment, such as high entrance hurdles;
Amendment 28 #
2014/2059(INI)
Draft opinion
Recital D
Recital D
D. whereas the Commission has acknowledged that excessive austerity policies have had a negative impact on economic growth because they failed to take iseveral Member States are making progress in reducing their currento account the effects of the fiscal multipliers, and that such austerity policies have resulted in tough cuts to social spending in fundamental areas such as education, health and pensions, resulting in unprecedented levels of inequality and poverty in the EUdeficits and reversing losses in competitiveness, allowing future spending in fundamental areas such as education, health and pensions, however further progress in needed to address high debt and the net international position of the most indebted economies;
Amendment 40 #
2014/2059(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the fact that the focus of the 2014 country-specific recommendations (CSRs) has shifted from solely boosting fiscal consolidation to strengthening the conditions for sustainable growth and employment; recalls that within the current Stability and Growth Pact (SGP) there are still margins intended to facilitate economic growth inthe Member States have taken a commitment to adhere to the EU,SGP and that differences in the Member States’ economic and social situations need to be taken into account; calls for greater flexibility margins in order to boost job creation; takes the view, however, that some of the structural reforms promoted by the Commission – especially labour reforms, wage devaluation, pension reforms, etc. – may result in the same contractionary effects on the economy or on internal demand as the excessive austerity conducted up to now; calls on the Commission, therefore, to asse full set of economic governance principles; calls on the Commission to continue the growth friendly consolidation strategy in order to facilitate growth and job creation and the Member Statess the economic and social impact of such policies before recommending themo better implement the CSRs;
Amendment 49 #
2014/2059(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Is deeply concerned that, up to now, the recommendations made as part of the European Semester have taken us furthe the EU is far away from achieving the employment and social targets of the Europe 2020 strategy; calls on the new Commission to ask immediately that the Member States report on national progress on the Europe 2020 strategy and correct this discrepancy in their national reform programmes (NRPs) to be presented as part of the next European Semester, in particular relating to progress made by Member States to modernise their labour markets and to integrate more people into the workforce;
Amendment 57 #
2014/2059(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. CallAcknowledges the Commission´s fwor a truk on the «"social pillar’ to be implemented within" of economic and monetary union (EMU) as part of the process of improvingntegrating the social dimension in the current structures for economic governance mechanisms, so as to reduce unemployment, poverty and social exclusion, overcome social dumping and prevent competition for the lowest social standards in the EU;
Amendment 66 #
2014/2059(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Welcomes the Commission’'s use of the new employment and social scoreboard for this year’'s CSRs; considers it regrettable, however, that these indicators have not been made binding in view of the current employment and social emergency; calls on the Commission, therefore, to put them on an equal footing with macroeconomic indicators, , in particular the references to unemployment levels, NEET and youth unemployment rates; considers it importandt to include additional indicators – such as child poverty levels, access to healthcare, and homelessness, and a decent work index – in the scoreboard in order to allow more effective analysis of Member States’' employment and social concerns;
Amendment 70 #
2014/2059(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Welcomes the Commission’'s recognition that the impact of fiscal consolidation measuresyear-long lack of structural reform in Member States, combined with excessive deficits and a large contraction in economic growth has had a negative effect on the EU employment and social situation has been severe and far-reaching; calls for the immediate fulfilment of all the employment and social obligations set out in the Treaties and in the EU Charter of Fundamental Rights; calls on the EU Agency for Fundamental Rights to assess thoroughly the impact of these measures on fundamental rights and to issue recommendations in the event of breaches of the Charter;
Amendment 77 #
2014/2059(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Welcomes the abovementioned mild decline in unemployment rates in the EU; recalls, however, that the Europe 2020 strategy accurately states that the figure to watch is the employment rate, which indicates the availability of human and financial resources to ensure the sustainability of our economic and social model; asks that the slowdown in the unemployment rate not be confused with the recovery of lost jobs, as no account is taken of increased emigration or forced early retirement;
Amendment 86 #
2014/2059(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Calls on the new Commission to make the employment recovery a true priority by establishing an ambitious and holistic strategy for quality job creation, which should involve all the new Commissioners; takes the view that, to this end, each Commissioner should draw up a quality employment plan for their specific policy area, including concrete measures, a budget allocation and a calendar for its implementation; asks therefore that economic recovery, growth and job creation be made a horizontal priority of the new European Commission involving all the new Commissioners;
Amendment 91 #
2014/2059(INI)
Draft opinion
Paragraph 10
Paragraph 10
10. Is concerned that the Commission’s strategy of restoring EU competitivenessNotes that part of the recovery strategy went through an excessive adjustment of unit labour costs via salary reductions has sharply eroded the purchasing power of many EU workers, lowered household incomes and depressed internal demand, further fuelling unemployment and social exclusion, particularly in those countries hit hardest by the crisisand entitlement reductions bringing unit labour costs back in line with productivity; points out that a cross- sectoral policy for restoring competitiveness must also contemplate strategies focusing on other production costs, price developments and profit margins, and on boosting innovation and excellence;
Amendment 101 #
2014/2059(INI)
Draft opinion
Paragraph 11
Paragraph 11
11. Welcomes the Commission’'s call, in its umbrella communication on the CSR in the EU as a whole, to invest more in R&D, innovation, education, skills and active labour market policies, together with energy, transport and the digital economy; considers, however, that in the context of the current process of fiscal consolidation these goals can be achieved only through greater flexibility within the SGPalls on Member States to make use of the given flexibility within the economic governance rules;
Amendment 107 #
2014/2059(INI)
Draft opinion
Paragraph 12
Paragraph 12
12. Calls on the Commission, as a matter of urgency, to give tangible form to the promised EUR 300 billion investment plan, and calls for an assessment as to whether this figure is sufficient to restore the EU’'s full potential for competitiveness, growth and quality job creation;
Amendment 111 #
2014/2059(INI)
Draft opinion
Paragraph 13
Paragraph 13
Amendment 129 #
2014/2059(INI)
Draft opinion
Paragraph 15
Paragraph 15
15. Is concerned that, in many Member States and sectors, job losses are coupled with a decline in job quality, an increase in precarious forms ofhurdles to employment and a deterioration in basic labour standards; stresses that the Commission and the Member States need to make dedicated efforts to address the increase inmatching skills with labour market needs as well as involuntary part-time employment and temporary contracts, payless internships and apprenticeships, and bogus self- employment, together with the activities of the black economy;
Amendment 135 #
2014/2059(INI)
Draft opinion
Paragraph 16
Paragraph 16
16. Observes that, in its 2013 annual report on the EU employment and social situation, the Commission highlighted the importance of social protection expenditure as a safeguard against social risks; notes, however, that social policies and social standards have been widely used as adjustment factors by those EMU members experiencing negative economic shocks; considers it regrettable that the CSRs do not refer to European automatic stabilisers; recalls the importance of such stabilisers in dealing with asymmetrical shocks, in avoiding excessive depletion of national welfare states and thus in strengthening the sustainability of EMU as a whole; reiterates its call on the Commission to produce a Green Paper on automatic stabilisers in the eurozone;
Amendment 151 #
2014/2059(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls, however, that Member States’ track record of implementing the CSRs is very low; believes that there is an inconsistency between European commitment and national implementation of the CSRs by Member States; stresses the importance of ‘national ownership’ by the relevant governments of EU-level commitments, especially of the largest and most important economies that are a benchmark to other Member States;
Amendment 159 #
2014/2059(INI)
Draft opinion
Paragraph 19
Paragraph 19
19. Highlights the rising number of workers, particularly young people, departing their countries of origin for other Member States in search of employment opportunities, and is deeply concerned about the persistent divergences between those Member States creating employment and those supplying a low-cost labour force; urges the Commission to develop a better legal framework for cross-border movement of workers in order to ensure freedom of movement while consecrating the principle of equal treatment and safeguarding wages and social standards; calls for the establishment in each Member State, either by law or through collective bargaining, of a minimum wage equivalent to at least 60 % of the respective national average wage;
Amendment 172 #
2014/2059(INI)
Draft opinion
Paragraph 20
Paragraph 20
20. Welcomes the mild decline in youth unemployment, but points out that it is still at alarming levels: 22 % in the EU-28 and 23.1 % in the eurozone; highlights the worrying differences between Member States (7.8 % in Germany and 53.5 % in Spain); considers it regrettable that evennotes that when young people do find a job, manysome of them – 43 % on average, compared with 13 % of adult workers – find themselves working under precarious conditions or on part-time contracts, making it difficult for them to live independently from their families and resulting in a loss of art-time contracts, which can be a stepping stone for full-time employment, enabling different sectors to be more innovationve and expert resourcesflexible, which affects production and growth;
Amendment 185 #
2014/2059(INI)
Draft opinion
Paragraph 21
Paragraph 21
21. Calls on the Commission to propose a binding European framework for the implementation of the Youth Guarantees so as to prevent the funds being misused in such a way as to aggravate national internal wage devaluation processesand the Member States to make the Youth Guarantees a priority and to use efficiently the available budget; takes the view that this legale framework should introduce binding minimum standards for the implementation of the Youth Guarantees, including the quality of apprenticeships, decent wages for young people and access to employment services, and should cover young people aged between 25 and 30; calls on the Commission and the Member States to make the Youth Guarantees a priority and to increase the available budget, at the latest in the promised mid-term review of the multiannual financial framework, up to at least the sum of EUR 21 billion estimated by the International Labour Organisation to be necessary to resolve the problem in the eurozonefacilitate the school-to-work transition and focus equipping young people with the right skills that correspond to the labour market needs, including giving them a chance to start their own businesses;
Amendment 195 #
2014/2059(INI)
Draft opinion
Paragraph 22
Paragraph 22
22. UrgWelcomes the Member States to go above and beyondadoption of the March 2014 Council recommendation for a Quality Framework for Traineeships in order to prevent discrimination and exploitation of young workers; calls for the adoption of a directive on decent conditions and minimum standards for internships and traineeships, giving interns and trainees clearly defined rights that include access to social protection, binding written contracts and fair remuneration and introducing limits on the use of trainees and interns in companies so as to prevent abuses;
Amendment 201 #
2014/2059(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that with regard to the forthcoming European Semester, the policy of growth-friendly fiscal consolidation should be pursued to improve fiscal sustainability; stresses, however, the fact that special emphasis should be placed on growth-enhancing reforms and policies, especially by those Member States that have fiscal space to invest in order to promote growth and facilitate rebalancing in the Euro area;
Amendment 201 #
2014/2059(INI)
Draft opinion
Paragraph 23
Paragraph 23
23. Observes with concern that female unemployment rates are higher than the total rates (11.7 % in the EU-18 and 10.4 % in the EU-28, compared with 11.5 % and 10.2 % respectively); calls, therefore, for specific decent-job creation plans with targeted measures for women; calls for the establishment of specific recommendations with a view to reducing the gender pay gap, which is not only a drag on the economy and on competitiveness but also a sign of social injusticecalls for specific attention to the integration of women in the labour market;
Amendment 211 #
2014/2059(INI)
Draft opinion
Paragraph 24
Paragraph 24
24. Is deeply concerned that long-term unemployed people and senior workers are experiencing higher unemployment rates and additional difficulties in re-entering the labour market; calls on the Commission and the Member States to make full use of the European Social Fund to help these workers; urges the adoption of a directive on decent working conditions, defining core labour rights for all workers and introducing common minimum standards so as to prevent this kind of labour discriminationcalls for increasing the flexibility of labour markets in order to adapt to specific competences and allow specific remuneration schemes bringing labour cost in line with productivity and stepping away from pay based on seniority;
Amendment 217 #
2014/2059(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Points out that the recent decision of the ECB on cutting interest rates and implementing additional unconventional measures, such as quantative easing, increases the risk of moral hazard and reform fatigue;
Amendment 231 #
2014/2059(INI)
Draft opinion
Paragraph 26
Paragraph 26
26. Regrets the fact that the Commission recommendations on pensions were made without taking into account Parliament’'s position on the Green and White Papers on pensions; is concerned that reforms to guarantee the sustainability of pensions have focused solely on population ageing, without taking into account the importance of the employment ratecontributions from the employed population, especially in pay- as-you-go systems and of possibilities of second and third pillar pensions systems for optimising pension pay outcome; recalls that guaranteeing decent pensions above a minimum level is an effective way to fight poverty and social exclusion;
Amendment 236 #
2014/2059(INI)
Draft opinion
Paragraph 27
Paragraph 27
27. Considers it regrettable that very few CSRs tackle the issue of in-work poverty; points out that new forms of poverty affecting the middle and working classes are emerging in some cases, with difficulties in paying mortgages and high energy prices creating energy poverty and giving rise to an increasing number of evictions and foreclosures; is concerned by evidence that levels of homelessness and housing exclusion are increasing; recalls that this represents a violation of fundamental rights; recommends that the Member States and their local authorities introduhave in place neutral housing policies favouring social and affordable housing, tackle the issue of housing vacancy and implement effective prevention policies aimed at reducing the number of evictions;
Amendment 241 #
2014/2059(INI)
Draft opinion
Paragraph 29
Paragraph 29
29. Calls on the Commission to support the effective use of EU funds to reduce poverty through partnership approaches involving civil society; calls on the Member States, especially those with the highest rates of unemployment and poverty, to use 25 % of their cohesion funding for programmes related to the European Social Fund; also requeinsists, in view of the high poverty rates, an evaluation as to whetherthat Member States make efficient use of the Fund for European Aid to the Most Deprived is sufficiently well-fundwhere it is implemented;
Amendment 245 #
2014/2059(INI)
Draft opinion
Paragraph 31
Paragraph 31
31. Notes the Commission recommendation to reform healthcare systems so that they deliver on their objectives of providing universal access to high-quality care in a cost-effective manner, and to secure their financial sustainability; calls for the goals of meeting social needs, providing a social safety netinclusion, access and quality provisions and achieving financial sustainability to be put on an equal footing, and for sufficient resources to be allocated for social protection and health systems;
Amendment 250 #
2014/2059(INI)
Draft opinion
Paragraph 32
Paragraph 32
32. Reiterates its call for increased and structured involvement of civil society and trade union stakeholders so as to safeguard the legitimacy and improve the effectiveness of the European Semester process; looks forward, in this connection, to the Commission’'s planned involvement of the social partners in the context of the Social Dialogue Committee prior to the adoption of the 2015 Annual Growth Survey;
Amendment 24 #
2014/0194(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) The Commission should have the power to adopt delegated acts under Article 290 of the TFEU to supplement or amend certain non-essential elements of particular legislative acts, notably to take account of economic, social and technical developments. The Commission should ensure that these delegated acts do not impose a significantn additional administrative burden on Member States or on the respondent units, other than what is absolutely necessary.
Amendment 56 #
2014/0194(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EC) No 184/2005
Article 10 – paragraph 2
Article 10 – paragraph 2
2. When exercising the powers delegated in Article 2(3), the Commission shall ensure that the delegated acts do not impose a significantn additional administrative burden on Member States and on the respondents, other than what is absolutely necessary.
Amendment 59 #
2014/0194(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EC) No 184/2005
Article 10 – paragraph 6
Article 10 – paragraph 6
6. A delegated act adopted pursuant to Article 2(3), shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of twohree months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by twohree months at the initiative of the European Parliament or the Council.
Amendment 88 #
2014/0121(COD)
Proposal for a directive
Recital 2
Recital 2
(2) The financial crisis has revealed that shareholders in many cases supported managers' excessive short-term risk taking. Moreover, there is clear evidence that the current level of ‘monitoring’ of investee companies and engagement by institutional investors and asset managers is inadequate, which may lead to suboptimal corporate governance and performance of listed companies.
Amendment 96 #
2014/0121(COD)
Proposal for a directive
Recital 9
Recital 9
(9) Institutional investors and asset managers are important shareholders of listed companies in the Union and therefore can play an important role in the corporate governance of these companies, but also more generally with regard to the strategy and long-term performance of these companies. However, the experience of the last years has shown that institutional investors and asset managers often do not engage with companies in which they hold shares and evidence shows that capital markets exert pressure on companies to perform in the short term, which may lead to a suboptimal level of investments, for example in research and development to the detriment to long-term performance of both the companies and the investor.
Amendment 105 #
2014/0121(COD)
Proposal for a directive
Recital 14
Recital 14
(14) In order to improve the information in the equity investment chain Member States should ensure that proxy advisors adopt and implement adequate measures to guaranteeensure to the best of their ability that their voting recommendations are accurate and reliable, based on a thorough analysis of all the information that is available to them and are not affected by any existing or potential conflict of interest or business relationship. They should disclose certain key information related to the preparation of their voting recommendations and any actual or potential conflict of interest or business relationships that may influence the preparation of the voting recommendations.
Amendment 108 #
2014/0121(COD)
Proposal for a directive
Recital 15
Recital 15
Amendment 115 #
2014/0121(COD)
Proposal for a directive
Recital 16
Recital 16
Amendment 140 #
2014/0121(COD)
Proposal for a directive
Recital 21
Recital 21
Amendment 161 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3a – paragraph 2
Article 3a – paragraph 2
Amendment 227 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3f – paragraph 1 – point b
Article 3f – paragraph 1 – point b
Amendment 234 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3f – paragraph 2
Article 3f – paragraph 2
Amendment 243 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3f – paragraph 3
Article 3f – paragraph 3
Amendment 255 #
2014/0121(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Article 3g – paragraph 2 – subparagraph 1– point a
Article 3g – paragraph 2 – subparagraph 1– point a
Amendment 258 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3g – paragraph 2 – subparagraph 1 – point c
Article 3g – paragraph 2 – subparagraph 1 – point c
Amendment 262 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Amendment 264 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2007/36/EC
Article 3g – paragraph 2 – subparagraph – point e
Article 3g – paragraph 2 – subparagraph – point e
Amendment 308 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007 36/EC
Article 9a – paragraph 1 – subparagraph 2
Article 9a – paragraph 1 – subparagraph 2
Companies may, in case of recruitment of new board members, decide to pay remuneration to an individual director outside the approved policy, where the basic elements of the remuneration package of the individual director has received prior approval by shareholders on the basis of information on the matters referred to in paragraph 3. The remuneration may be awarded provisionally pending approval by the shareholders.
Amendment 329 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007/36/EC
Article 9a – paragraph 3 – subparagraph 2
Article 9a – paragraph 3 – subparagraph 2
Amendment 412 #
2014/0121(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007/36/EC
Article 9c – paragraph 1 – subparagraph 1
Article 9c – paragraph 1 – subparagraph 1
1. Member States shall ensure that companies, in case of transactions with related parties that represent more than 1% of their assets, publicly announce such transactions at the time of the conclusion of the transaction, and accompany the announcement by a report from an independent third party assessing whether or not it is on market terms and confirming that the transaction is fair and reasonable from the perspective of the shareholders, including minority shareholders. The announcement shall contain information on the nature of the related party relationship, the name of the related party, the amount of the transaction and any other information necessary to assess the transaction.
Amendment 274 #
2014/0091(COD)
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
Amendment 275 #
2014/0091(COD)
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) In view of changing work patterns and increasing worker mobility, new individualised pensions solutions are being developed within collective systems. The rules should facilitate the development of new, innovative pension products, so as to guarantee adequate retirement provisions for all, regardless of career patterns or place of work.
Amendment 301 #
2014/0091(COD)
Proposal for a directive
Recital 5 a (new)
Recital 5 a (new)
(5a) In order to improve the functioning of the internal market in the field of occupational retirement provision, it is important that the procedures enabling institutions to carry out cross-border activity be clarified and that unnecessary obstacles, which hamper such cross- border activity, be removed. Facilitating cross-border activity could have a positive impact on affiliated undertakings and their employees, in whichever Member State they work, through the centralisation of the management of the occupational retirement provision business and the protection of an adequate European prudential framework.
Amendment 357 #
2014/0091(COD)
Proposal for a directive
Recital 25
Recital 25
(25) A prudent calculation of technical provisions is an essential condition to ensure that obligations to pay retirement benefits can be met both in the short and in the long-term. Technical provisions should be calculated on the basis of recognised actuarial methods and certified by qualified persons. The maximum interest rates should be chosen prudently according to any relevant national rules. The minimum amount of technical provisions should both be sufficient for benefits already in payment to beneficiaries to continue to be paid and reflect the commitments that arise out of members' accrued pension rights.
Amendment 361 #
2014/0091(COD)
Proposal for a directive
Recital 27
Recital 27
(27) Sufficient and appropriate assets to cover the technical provisions protect the interests of members and beneficiaries of the pension scheme if the sponsoring undertaking becomes insolvent. In particular in casesthe context of a cross-border activity, the mutual recognittransfer, the technical provisions of supervisory principles applied in Member States requires that the technical provisions be fully funded at all tithe new additional scheme should be fully funded at the moment when the institution starts operating this new or additional schemes.
Amendment 366 #
2014/0091(COD)
Proposal for a directive
Recital 27 a (new)
Recital 27 a (new)
(27a) Member States should exchange best practices on cross-border institutions for occupational retirement provisions and encourage bi-lateral supervisory cooperation between competent authorities to address national barriers and to stimulate cross-border pensions.
Amendment 374 #
2014/0091(COD)
Proposal for a directive
Recital 32
Recital 32
(32) Supervisory methods and practices vary among Member States. Therefore, Member States should be given some discretion on the precise investment rules that they wish to impose on the institutions located in their territories. However, these rulesThese rules should allow also for the development of individual pension products within a collective system and should not restrict the free movement of capital, unless justified on prudential grounds.
Amendment 398 #
2014/0091(COD)
Proposal for a directive
Recital 40
Recital 40
(40) Furthermore, with the exception of the internal audit function, in smaller and less complex institutions it should be possible for a single person or organisational unit to carry out more than one key function. HoweverIn addition, taking into account the size, nature, scale and complexity of the activities of the institutions, the person or unit performing a key function should be different fromin the institution could also be the onsame performing a similar key function infor the sponsoring undertaking; although the competent authority should be authorised to grant an exemption taking into account the size, nature, scope and complexity of the activities of institutions, if the institution has put in place adequate measures in order to prevent and manage any conflicts of interests with the sponsoring undertaking.
Amendment 450 #
2014/0091(COD)
Proposal for a directive
Article 6 – paragraph 1 – point i
Article 6 – paragraph 1 – point i
(i) ‘home Member State’ means the Member State in which the institution has been authorised or registered and in which its main administration is located. The place of main administration refers to a place where the main strategic decisions of the institution’s decision making body are maderegistered or authorised in accordance with Article 9;
Amendment 452 #
2014/0091(COD)
Proposal for a directive
Article 6 – paragraph 1 – point q
Article 6 – paragraph 1 – point q
(q) ‘key function’, within a system of governance, means an internal capacity to undertake practical tasks; a system of governance includes the risk management function, the internal audit function, and where the institution enters into financial commitments or establishes technical provisions, also the actuarial function.
Amendment 515 #
2014/0091(COD)
Proposal for a directive
Article 15 – paragraph 3
Article 15 – paragraph 3
3. In the event of cross-border activity as referred to in Article 12, the technical provisions shall at all times be fully funded in respect of the total range of pensrelated to a new or additional schemes operated. If these conditions are not met, shall be fully funded at the cmompetent authorities of the home Member State shall intervene in accordance with Article 62. To comply with this requirement the home Member State may require ring- fencing of the assets and liabilitiesthe institution starts operating this new or additional scheme.
Amendment 538 #
2014/0091(COD)
Proposal for a directive
Article 20 – paragraph 1 – subparagraph 2 a (new)
Article 20 – paragraph 1 – subparagraph 2 a (new)
Investment rules shall allow for development of individual pension products within a collective scheme.
Amendment 549 #
2014/0091(COD)
Proposal for a directive
Article 22 – paragraph 6
Article 22 – paragraph 6
6. Member States shall require institutions to have at least two persons who are effectively run the institution. in charge of the operations of the institution. Member States may allow that only one person effectively runs the institution, on the basis of a reasoned assessment conducted by the competent authorities. The assessment shall take into account the role of social partners in the overall management of the institutions, as well as size, nature, scale and complexity of the activities of the institutions.
Amendment 575 #
2014/0091(COD)
Proposal for a directive
Article 25 – paragraph 3
Article 25 – paragraph 3
3. Without prejudice to the role of social partners in the overall management of institutions, theif persons or organisational units carrying out thesimilar key function shall be different from the one carrying out a similar key funcs for the institution inand the sponsoring undertaking. On the basis of a reasoned request from the institution, the competent authority may grant an exemption from this restric, the competent authority may restrict them on the basis of a reasoned assessment and demand separation taking into account the size, nature, scope and complexity of the activities of the institution.
Amendment 595 #
2014/0091(COD)
Proposal for a directive
Article 29 – paragraph 1 – subparagraph 1
Article 29 – paragraph 1 – subparagraph 1
Amendment 640 #
2014/0091(COD)
Proposal for a directive
Article 40 a (new)
Article 40 a (new)
Article 40a Pension Benefit Statement 1. Within the framework of this Directive, key relevant information for members shall include: (a) personal details of the member, including a clear indication of the date of the statutory retirement or the date when retirement benefits are due; (b) identification of the institution and identification of the pension scheme of the member; (c) where applicable, any information on full or partial guarantees under the pension scheme. Where no guarantee is provided, this should be indicated. Where a guarantee is provided, the pension benefit statement shall briefly explain the nature of the guarantee and provide information on the current level of financing of the member’s accrued individual entitlements; 2. Where the pension scheme does not provide for a given level of benefits the key relevant information for members shall include additionally: (a) information on pension projections, taking into consideration the specific nature and organisation of the pension scheme; (b) information on the accumulated entitlements, contributions and costs of the pension scheme, taking into consideration the specific nature and organisation of the pension scheme; (c) information on the investment profile, taking into consideration the specific nature of the pension scheme; (d) information on the past performance of the pension scheme, taking into account the specific nature of the pension scheme.
Amendment 710 #
2014/0091(COD)
Proposal for a directive
Article 57 – paragraph 1
Article 57 – paragraph 1
1. IMember States shall require institutions shto periodically provide beneficiaries with information about major material changes about the benefits due and the corresponding payment options.
Amendment 713 #
2014/0091(COD)
Proposal for a directive
Article 57 – paragraph 2
Article 57 – paragraph 2
2. When a significant level of investment risk is borne by beneficiaries in the pay-out phase, Member States shall ensure that beneficiaries receive appropriate information regularly.
Amendment 102 #
2014/0020(COD)
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3 a) Since the proposal of the High-level Expert Group on reforming the structure of the Union’s banking sector, the Union has adopted a large amount of legislation (EMIR, MIFID2, CRR, CRD4, DGS, BRRD among others) reducing systemic risk, increasing capital requirements, safeguarding depositors and improving the tools for dealing with bank crises across the Union. As a result of these new rules and of new structures for supervision, the legal framework has been reinforced and the single rulebook in banking has created a new basis for financial markets in the Union, facilitating a single financial market and a working Capital Markets Union.
Amendment 111 #
2014/0020(COD)
Proposal for a regulation
Recital 10
Recital 10
Amendment 120 #
2014/0020(COD)
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12 a) Through a risk-based approach, this Regulation should aim at providing financial stability, reducing systemic risk and maintaining a competitive European banking sector able to finance the economy.
Amendment 138 #
2014/0020(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) To ensure that the entities subject to the prohibition of proprietary trading can continue to contribute toward the financing of the economy, they should be allowed to invest in a closed list of funds. This exhaustive list should comprise closed- ended and unleveraged alternative investment funds (AIFs), European Vwhich are not substantially leveraged in accordance with the Directive 2011/61/EU26 and Regulation 231/2013, venture Ccapital Ffunds that fall under the definition foreseen in Article 3(b) of Regulation (EU) No 346/2013, European Social Entrepreneurship Funds and European Long Term Investment Funds. To Given the contribution of vensture that these funds do not endanger the viability and financial soundness of the credit institutions that invest in them, it is essential that closed-ended and unleveraged AIFs in which credit institutions can still invest are managed by AIF managers that are authorised and supercapital funds toward the financing of the economy, in particular SMEs and the fact that EuVECA is an optional regime, credit institutions should be allowed to continue to invest in all type of venture capital funds. Therefore all venture capital funds that meet the definition of qualifying venture capital fund should be exempted from the proprietary trading ban. All the funds mentioned above are properly regulated and competent authorities are provisded in accordance with the relevant provisions of Directive 2011/61/EU of the European Parliament and of the Council26 , and that those AIFs are established in the Union or, if they are not established in the Union, they are marketed in the Union according to the rules of that Directivewith different supervisory tools for monitoring and addressing risks associated with either funds' or managers' activities. Investments in those types of funds do not endanger financial soundness of the credit institutions and therefore credit institutions should be allowed to invest in such funds. __________________ 26Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010
Amendment 140 #
2014/0020(COD)
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17a) Having in mind that private equity and venture capital funds contribute to the financing of the real economy and that this positive role partly depends on the relationship of the private equity and venture capital industry with the banks (whether as investors, asset manager or lenders), banks lending to private equity and venture capital funds as well as providing guarantees to such funds should not be considered as trading activities that should be subject to the structural separation.
Amendment 162 #
2014/0020(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) There are particular concerns in relation to market making. The resolvability of a bank may be impeded by the presence of trading and inventory within a large banking group, as individual trading positions are treated the same way in a resolution process, whether they result from client activity driven market making or from speculation. Additionally, market makers are interconnected with other large banking groups. Furthermore, market makers can be exposed to substantial counterparty risk and the concrete functioning of market making can vary in relation to different financial instruments and market models. Market making activities, however, are also indispensable to the well-functioning of the market for corporate bonds and other debt instruments, since liquidity is necessary to make the instruments appropriate for a wide variety of investors. Therefore, particular attention to those activities should be made during the assessment of the competent authority.
Amendment 203 #
2014/0020(COD)
Proposal for a regulation
Recital 47 a (new)
Recital 47 a (new)
(47 a) As stated in the Liikanen report, "attention should be paid to the governance and control mechanisms of all banks". More attention should indeed be given by the competent authorities to the ability of management and boards to run and monitor large and complex banks as well as smaller ones as the crisis has shown that small banks represent a risk too. Complementary supervisory tools should be developed such as fit-and- proper tests applied when evaluating the suitability of management and board candidates.
Amendment 344 #
2014/0020(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. The restrictions laid down in point (b) of paragraph 1 shall not apply with regard to closed-ended and unAIFs, which are not substantially leveraged AIFs, as defined in Directive 2011/61/EU where those AIFs are established in the Union or, if they are not established in the Union, they are marketed in the Union according to Articles 35 or 40 of Directive 2011/61/EU and Article 111 of the Regulation 231/2013, to qualifying venture capital funds as defined in Article 3(b) of Regulation (EU) No 345/2013, to qualifying social entrepreneurship funds as defined in Article 3(b) of Regulation (EU) No 346/2013, and to AIFs authorized as ELTIFs in accordance with Regulation (EU) No [XXX/XXXX].
Amendment 375 #
2014/0020(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point b a (new)
Article 8 – paragraph 1 – point b a (new)
(b a) providing guarantees
Amendment 391 #
2014/0020(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point i a (new)
Article 8 – paragraph 1 – point i a (new)
(i a) the selling of interest rate derivatives, foreign exchange derivatives, credit derivatives, emission allowances derivatives and commodity derivatives eligible for central counterparty clearing, and emission allowances, to non-financial clients and to financial entities referred to in the second and third indents of point (19) of Article 5, to insurance undertakings, or to institutions providing occupational retirement benefits, where the sole purpose of the sale is to hedge interest rate risk, foreign exchange risk, credit risk, commodity risk or emissions allowance risk.
Amendment 428 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 1 b (new)
Article 9 – paragraph 1 b (new)
Amendment 460 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 2 – point h
Article 9 – paragraph 2 – point h
Amendment 553 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 5 – point a – point a
Article 10 – paragraph 5 – point a – point a
(a) (i) the relevant limit of each of the metrics provided in points (a) to (hg) of Article 9(1), above which the risk level of the trading activity concerned is deemed individually significant;
Amendment 698 #
Amendment 703 #
2014/0020(COD)
Proposal for a regulation
Article 21 – title
Article 21 – title
Amendment 707 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – introductory part
Article 21 – paragraph 1 – introductory part
1. At the request of a Member State, the Commission may grant a derogation from the requirements of this Chapter to aThis Regulation shall not prevent Member States from implementing national bank structural reforms that apply at individual level to credit institutions authorized in their territory with the view of isolating core credit institutions or taking deposits from individuals and SMEs that are subject to national primary legislation adopted before 29 January 2014macro-prudential measures, with the prior consent of the competent authorities and resolution authorities. Competent authorities and resolution authorities shall not authorise those national measures whenre the national legislation complies with the following requirements:credit institution is subject to a resolution regime equipped with resolution financing arrangements that prevent the use of tax payer money by establishing ex ante funding in a resolution fund separate from Member States' general budget.
Amendment 709 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point a
Article 21 – paragraph 1 – point a
Amendment 712 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point b
Article 21 – paragraph 1 – point b
Amendment 716 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point c
Article 21 – paragraph 1 – point c
Amendment 721 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 1
Article 21 – paragraph 2 – subparagraph 1
Amendment 723 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 2
Article 21 – paragraph 2 – subparagraph 2
Amendment 727 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 3
Article 21 – paragraph 2 – subparagraph 3
Amendment 732 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 4
Article 21 – paragraph 2 – subparagraph 4
Amendment 736 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 5
Article 21 – paragraph 2 – subparagraph 5
Amendment 740 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 6
Article 21 – paragraph 2 – subparagraph 6
Amendment 96 #
2014/0017(COD)
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) Subsequently on 14 October 2014 the FSB published a regulatory framework for haircuts on collateral posted in non- centrally cleared SFTs. In the absence of clearing, such operations can cause risks if they are not properly collateralised. While enhancing transparency on the re- use of collateral is a first step towards facilitating counterparties' capacity to analyse and prevent the build-up of risks, the FSB also considered it necessary to propose further reforms in the area of haircuts on assets received as collateral for non-centrally cleared SFTs with non- banks. These proposals are intended to prevent excessive leverage and mitigate concentration and default risk. The FSB is due to complete its work on those collateral haircuts by 2016, with the development of a final set of recommendations on haircuts for collateral delivered in non-centrally cleared non-bank-to-non-bank SFTs. It is therefore appropriate to wait for these proposals to be agreed upon and be subjected to a full impact assessment by ESMA and the EBA to assess the most appropriate way to introduce these internationally agreed provisions into the EU. A coherent approach for transactions involving financial and non-financial counterparties as well as those involving only non-financial counterparties should be considered so as to avoid market distorting behaviour.
Amendment 100 #
2014/0017(COD)
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) In order to ensure the effective implementation of the reporting of securities financing transactions a phased implementation of the requirements by counterparty is necessary. This should consider the effective ability of the counterparty to comply with the reporting obligations and so start with more advanced counterparties such as broker dealers, followed by different categories for different sizes of asset managers and finally non-financial counterparties.
Amendment 101 #
2014/0017(COD)
Proposal for a regulation
Recital 8 b (new)
Recital 8 b (new)
(8b) In order to reduce the administrative burden faced by both financial and non- financial counterparties, the ability to delegate the reporting requirements should be reinforced in order to make clear that any delegation of the requirement to report a transaction would also cause all legal liability for reporting the transaction to pass to the delegate.
Amendment 103 #
2014/0017(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) SFTs are used extensively by fund managers for efficient portfolio management. This use can have a significant impact on the performance of those funds. They can be used either to fulfil investment objectives or to enhance returns. Managers also have the possibility to use other financing structures that have effects equivalent to SFTs. Those other financing structuresSFTs may include total return swaps, liquidity swaps or collateral swaps. They are also extensively used by fund managers to get exposure to certain strategies or to enhance the returns. Both SFTs and other financing structures have in common that theySFTs increase the general risk profile of the fund whereas their use is not properly disclosed to investors. It is crucial to ensure that investors in such funds are able to make informed choices and to assess the overall risk and reward profile of investment funds.
Amendment 104 #
2014/0017(COD)
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) In addition, SFTs are also used by some other financial and non-financial counterparties. Information in a high level, aggregate form should be given to shareholders about these transactions as part of disclosures as provided for in Directive 2014/95/EU of the European Parliament and of the Council1a . ________________ 1a Directive2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non- financial and diversity information by certain large undertakings and groups (OJ L 330, 15.11.2014, p. 1)
Amendment 106 #
2014/0017(COD)
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) The existing guidelines for competent authorities and UCITs management companies (ESMA/2012/832) produced by ESMA apply an optional framework to UCITs management companies regarding reporting obligations. In order to increase the effectiveness of this regime, these provisions have been incorporated as draft regulatory technical standards. In order to reduce administrative burden for those UCITs management companies and AIF that have already adopted these guidelines, it is appropriate not to require the re-submission of any prospectus that already complies with the existing guidelines.
Amendment 115 #
2014/0017(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) The power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of amending the list of entities that should be excluded from the scope of this Regulation in order to avoid limiting their power to perform their tasks of common interest; specific details concerning definitions; the type of fees, the matters for which fees are due, the amount of the fees and the manner in which they are to be paid by trade repositories, and of the amendment of the Annex in order to update information on SFT as well as other financing structures and information to investors. It is of particular importance that the Commission carries out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and to the Council.
Amendment 117 #
2014/0017(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation lays down rules on the transparency of securities financing transactions (SFTs), other financing structures and rehypothecation and reuse.
Amendment 121 #
2014/0017(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point d – point 2
Article 2 – paragraph 1 – point d – point 2
Amendment 122 #
2014/0017(COD)
Proposal for a regulation
Article 2 – paragraph 2 – introductory part
Article 2 – paragraph 2 – introductory part
2. TArticles 4 and 15 of this Regulation shall not apply to:
Amendment 128 #
2014/0017(COD)
Proposal for a regulation
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
2a. Article 4 of this Regulation shall not apply to transactions to which the bodies listed in points (a) and (b) of paragraph 2 are counterparty.
Amendment 134 #
2014/0017(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 6 – indent 3
Article 3 – paragraph 1 – point 6 – indent 3
Amendment 135 #
2014/0017(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 6 – indent 3
Article 3 – paragraph 1 – point 6 – indent 3
– any transaction having an equivalent economic effect and posing similar risks, in particular a buy-sell back or sell-back transaction, which shall be further defined by ESMA;
Amendment 139 #
2014/0017(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 7
Article 3 – paragraph 1 – point 7
7. ‘rehypothecationuse’ means the use by a receiving counterparty of financial instruments received as collateral in its own name and for its own account or for the account of another counterpartydelivered in one transaction as collateral;
Amendment 140 #
2014/0017(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 7 a (new)
Article 3 – paragraph 1 – point 7 a (new)
7a. Title Transfer Collateral Arrangement (TTCA) mean the transfer of collateral as defined in point (b) of Article 2(1) of Directive 2002/47/EC.
Amendment 142 #
2014/0017(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 9
Article 3 – paragraph 1 – point 9
Amendment 146 #
2014/0017(COD)
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 147 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
1. Counterparties to SFTs shall report the details of such transactions or positions to a trade repository registered in accordance with Article 5 or recognised in accordance with Article 19. The details shall be reported no later than the third working day following the conclusion, modification or termination of the transaction. but as soon as is practically possible.
Amendment 149 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
1. Counterparties to SFTs shall report the details of such transactions or positions to a trade repository registered in accordance with Article 5 or recognised in accordance with Article 19. The details shall be reported no later than the third working day following the conclusion, modification or termination of the transaction but as soon as is practically possible.
Amendment 150 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 2 – point a
Article 4 – paragraph 1 – subparagraph 2 – point a
Amendment 152 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 3
Article 4 – paragraph 1 – subparagraph 3
A counterparty which is subject to the reporting obligation may delegate the reporting of the details of SFTs. All legal liability for reporting the transaction shall be passed to the delegated entity.
Amendment 155 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 3
Article 4 – paragraph 3
Amendment 158 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 7 – subparagraph 1 – introductory part
Article 4 – paragraph 7 – subparagraph 1 – introductory part
In order to ensure consistent application of this Article, ESMA, in close cooperation with the European System of Central Banks (ESCB) and taking into account its needs, shall develop draft regulatory technical standards specifying the details for the different types of SFTs that shall specify at leastthe following, adapted to the type of SFT and taking into account the option of position-level reporting where all details provided for in point (b) are not necessary:
Amendment 160 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 7 – subparagraph 1 – point b a (new)
Article 4 – paragraph 7 – subparagraph 1 – point b a (new)
(b a) the date or dates from which the reporting obligation takes place using a phased implementation by types of counterparty;
Amendment 161 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 7 – subparagraph 1 – point b b (new)
Article 4 – paragraph 7 – subparagraph 1 – point b b (new)
(b b) for which activities reporting of positions instead of transactions is appropriate.
Amendment 163 #
2014/0017(COD)
Proposal for a regulation
Article 4 – paragraph 8 – subparagraph 1a (new)
Article 4 – paragraph 8 – subparagraph 1a (new)
These draft implementing technical standards shall also specify how reporting of duplicate transaction or position data can be avoided or managed. ESMA shall consider a number of approaches, including whether all counterparties to a transaction shall report to the trade repository.
Amendment 165 #
2014/0017(COD)
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. A trade repository shall submit an application for registration to ESMA, or in the case of a trade repository already registered under Regulation No 648/2012 an application of extension of services.
Amendment 178 #
2014/0017(COD)
Proposal for a regulation
Article 13 – paragraph 1 – introductory part
Article 13 – paragraph 1 – introductory part
1. Management companies of UCITS, UCITS investment companies and AIFMs shall inform their investors on the use they make of SFTs as well as of other financing structures:
Amendment 181 #
2014/0017(COD)
Proposal for a regulation
Article 13 – paragraph 1 a (new)
Article 13 – paragraph 1 a (new)
1a. Financial and non-financial institutions referred to in Article 19a of Directive 2013/34/EU shall include in the report referred to in Directive 2014/95/EU a description of their use of SFTs and their reuse of collateral.
Amendment 184 #
2014/0017(COD)
Proposal for a regulation
Article 13 – paragraph 2
Article 13 – paragraph 2
2. The information on SFT as well as on other financing structures shall comprise at least the data provided for in Section A of the AnnexESMA shall develop draft regulatory technical standards specifying the details which are required to be disclosed under this Article by taking into account existing disclosure requirements and assessing the costs and benefits of requiring additional or new disclosures.
Amendment 186 #
2014/0017(COD)
Proposal for a regulation
Article 13 – paragraph 2
Article 13 – paragraph 2
2. The information on SFT as well as on other financing structures shall comprise at least the data provided forshall take account of existing requirements under Directive 2009/65/EC and Directive 2011/61/EC and comprise, where appropriate, the data referred to in Section A of the Annex.
Amendment 190 #
2014/0017(COD)
Proposal for a regulation
Article 13 – paragraph 3
Article 13 – paragraph 3
3. The Commission shall be empowered to adopt delegated acts in accordance with Article 27 to amend Section A of the Annex in order to reflect the evolution of market pracESMA shall develop draft regulatory technical standards specifying the details of Section A of the Annex as well as the circumstances under which they are applicable, taking into account administrative burden. ESMA shall submit those draft regulatory technical standards to the Commission by ... * . Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph, in accordance with articles and technological developments. 10 to 14 of Regulation (EU) No 1095/2010. ____________ * OJ: please insert a date: 12 months from the date of entry into force of this Regulation.
Amendment 191 #
2014/0017(COD)
Proposal for a regulation
Article 14 – paragraph 2
Article 14 – paragraph 2
2. The prospectus and the disclosure to investors referred to in paragraph 1 shall comprise at leasttake account of the existing requirements under Directive 2009/65/EC and Directive 2011/61/EU and comprise, where appropriate, the data provided for in Section B of the Annex.
Amendment 193 #
2014/0017(COD)
Proposal for a regulation
Article 14 – paragraph 3
Article 14 – paragraph 3
3. The Commission shall be empowered to adopt delegated acts in accordance with Article 27 amending Section B of the Annex in order to reflect the evolution of market practices and technological developmentsESMA shall develop draft regulatory technical standards specifying the details of Section B of the Annex as well as the circumstances under which they are applicable taking into account administrative burden. ESMA shall submit those draft regulatory technical standards to the Commission by ...* [ Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph, in accordance with articles 10 to 14 of Regulation (EU) No 1095/2010. _________________ * OJ: please insert a date: 12 months from the date of entry into force of this Regulation.
Amendment 204 #
2014/0017(COD)
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
1a. The conditions set out in paragraphs 1 and 2 shall not apply where the providing counterparty is providing collateral under a TTCA.
Amendment 215 #
2014/0017(COD)
Proposal for a regulation
Article 17 – paragraph 2 a (new)
Article 17 – paragraph 2 a (new)
Amendment 243 #
2014/0017(COD)
Proposal for a regulation
Article 26 – paragraph 1 a (new)
Article 26 – paragraph 1 a (new)
Within eighteen months of the entry into force of this regulation, ESMA and the EBA shall provide a report to the Commission on the final conclusions of the Financial Stability Board's work on a regulatory framework for haircuts on collateral posted in non-centrally cleared SFTs. In full consideration of this report, the Commission shall submit a full impact assessment of the FSB proposals and consider whether new legislative proposals to implement its recommendations are necessary.
Amendment 244 #
2014/0017(COD)
Proposal for a regulation
Article 26 – paragraph 1 b (new)
Article 26 – paragraph 1 b (new)
On an annual basis, the Commission shall prepare a report on the application of Article 11 and fully account for all fees that have been charged to trade repositories to ensure that they are solely used to cover the necessary expenditure of this regulation and that of Regulation (EU) No 648/2012.
Amendment 245 #
2014/0017(COD)
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. The delegation of power referred to in Articles 2(3), 3, 11(2), 13(3)3 and 14(31(2) shall be conferred on the Commission for an indeterminate period of time from the date referred to in Article 28.
Amendment 246 #
2014/0017(COD)
Proposal for a regulation
Article 27 – paragraph 3
Article 27 – paragraph 3
3. The delegation of power referred to in Articles 2(3), 3, 4, 11(2), 13(3)3, 4 and 14(31(2) may be revoked at any time by the European Parliament or by the Council. A decision of revocation shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.
Amendment 247 #
2014/0017(COD)
Proposal for a regulation
Article 27 – paragraph 5
Article 27 – paragraph 5
5. A delegated act adopted pursuant to Articles 2(3), 3, 4, 11(2), 13(3)3, 4 and 14(31(2) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of 23 months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by 2 months at the initiative of the European Parliament or the Council.
Amendment 248 #
2014/0017(COD)
Proposal for a regulation
Article 28 – paragraph 2 – point a
Article 28 – paragraph 2 – point a
(a) Article 4(1), which shall apply 18 months after the date of entry into force via the phased-in approach developed in the delegated act adopted under Article 4(7); and
Amendment 249 #
2014/0017(COD)
Proposal for a regulation
Article 28 – paragraph 2 – point a
Article 28 – paragraph 2 – point a
(a) Article 4(1), which shall apply 18 months after the date of entry into forceadoption by the Commission of the regulatory technical standards referred to in Article 4 via the phased in approach developed in the delegated act adopted under Article 4(7); and
Amendment 251 #
2014/0017(COD)
Proposal for a regulation
Article 28 – paragraph 2 – point b
Article 28 – paragraph 2 – point b
(b) Articles 13 and 14, which shall apply 618 months after the date of entry into force.
Amendment 30 #
2014/0011(COD)
Proposal for a decision
Recital 2 a (new)
Recital 2 a (new)
(2a) The European Council Conclusions of 23 and 24 October 2014 set the framework for the EU's 2030 climate and energy policies. The European Commission should propose to the European Parliament and the Council a legislative proposal to set out a stable, appropriate and long term framework that adequately deals with the risk of carbon leakage due to ETS-related direct and indirect costs in the EU post-2020. This proposal should cover the overall ETS framework, and should be put on the table in the first half of 2015.
Amendment 9 #
2013/2277(INI)
Draft opinion
Recital A
Recital A
A. whereas the economic crisis and the adjustment programme measures in Greece (May 2010 and March 2012), Ireland (December 2010), Portugal (May 2011) and Cyprus (June 2013) have had a direct and indirect impact on employment levels and dire consequences for the social situation; whereas, although all the programmes were formally signed by the Commission, they were designed, and their conditionality determined, jointly by the IMF, the Eurogroup, the European Central Bank (ECB) and the Commission;
Amendment 22 #
2013/2277(INI)
Draft opinion
Recital G
Recital G
G. whereas in its resolution of 21 November 2013, Parliament welcomed the Commission communication of 2 October 2013 entitled ‘Strengthening the social dimension of the Economic and Monetary Union’ and its proposal to establish a scoreboard of key employment and social indicators to be included in the Macroeconomic Imbalances Procedure (MIP) and the Joint Employment Report (JER), but regretted the fact that those indicators were insufficient to ensure comprehensive coverage of the Member States’ employment and social situations and the interdependence between them; whereas Parliament’s resolution stressed the need to ensure that this monitoring aims to reduce social divergences between Member States;
Amendment 27 #
2013/2277(INI)
Draft opinion
Recital H a (new)
Recital H a (new)
Ha. whereas long-term economic prospects in these countries are improving; whereas this should begin to aid the creation of new jobs in these economies and reverse the trend of declining employment;
Amendment 36 #
2013/2277(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Notes that the EU institutions (the ECB, the Commission and the Eurogroup) are fully co-responsible for the conditions imposed under the economic adjustment programmes, and therefore for their social consequences;
Amendment 141 #
2013/2277(INI)
Draft opinion
Paragraph 10
Paragraph 10
10. Notes that Commission figures and various studies show that between 2008 and 2012 income distribution inequality grew in the four countries, and that the cuts in social and unemployment benefits resulting from austerity measuresmeasures put in place to reduce the deficit, as well as the wage reductions due to structural reforms, are raising poverty levels; notes, furthermore, that the Commission report found relatively high levels of in-work poverty due to low minimum wages being cut or frozen as a result of the austerity measures;
Amendment 191 #
2013/2277(INI)
Draft opinion
Paragraph 19
Paragraph 19
19. Calls on the Commission to carry out a detailed study of the social and economic consequences of the adjustment programmes in the four countries in order to provide a precise understanding of both the short-term and long-term damage toeffects on the social protection systems, with particular regard to the fight against poverty, the maintaining of good social dialogue and the balance between flexibility and security in labour relations; calls on the Commission to use its consultative bodies when drafting this study, as well as the Employment Committee and the Social Protection Committee; suggests that the EESC be asked to draft a specific report;
Amendment 202 #
2013/2277(INI)
Draft opinion
Paragraph 20
Paragraph 20
20. Calls on the Commission to askInvites the ILO and the Council of Europe to draft reports on possible corrective measures and incentives to ensure full compliance withimprove the social situation in these countries, taking into account the European Social Charter and the Protocol thereto and with the ILO Core Conventions, since the obligations deriving from them have been affected by the budgetary adjustment measures and the structural reforms requested by the Troika;
Amendment 211 #
2013/2277(INI)
Draft opinion
Paragraph 21
Paragraph 21
21. Calls on the EU to provide support, after the assessment, including through financial resources where appropriate, for the recovery of social protection standards and of the fight against poverty reduction and the renewal of social dialogue through a social recovery planfight against poverty; calls on the Commission, the ECB and the Eurogroup to phase out the exceptional measures that have been put in place, as soon as appropriate;
Amendment 225 #
2013/2277(INI)
Draft opinion
Paragraph 24
Paragraph 24
24. Calls on the Commission and the Council to give the same attention to social imbalances, and to correcting them, as it does to macroeconomic imbalances, and to that end to put EPSCO and its priorities on an equal footing with ECOFIN and the Eurogroup;
Amendment 4 #
2013/2176(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
- having regard to the European Parliament resolution ‘Improving access to finance for SMEs’ (T7-0036/2013),
Amendment 5 #
2013/2176(INI)
Motion for a resolution
Citation 11 a (new)
Citation 11 a (new)
- having regard to the new programme for Employment and Social innovation (EaSI) which will, amongst others, extend the support given to microcredit providers under the current European Progress Microfinance Facility,
Amendment 61 #
2013/2176(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Believes that developing entrepreneurship skills and programmes to learn how the market, economy and the financial system operate, function and interact should be included in basic education systems; believes that a well prepared business plan is the first step towards better access to finance and viability; calls on the Commission and the Member States to include financial education in their education programmes without any delay; supports in this connection the ‘Erasmus for Young Entrepreneurs’ programme, designed to promote an entrepreneurial culture and develop the single market and competitiveness;
Amendment 74 #
2013/2176(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines hereby the responsibility of the Member States to fully use the Commission’s offered support for improving the climate for entrepreneurs;
Amendment 76 #
2013/2176(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Urges therefore the Commission to come forward with an overview of all actions taken in the different Member States to enhance the climate for entrepreneurship;
Amendment 115 #
2013/2176(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Believes there are real benefits in new forms of financing through innovative schemes and non-bank routes, such as peer-to-peer lending, micro-lending and other tools, which can provide vital investment for start-ups to grow and create jobs;
Amendment 122 #
2013/2176(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. calls therefore on the Commission to support the development of a broad range of tailored programmes, instruments and initiatives, ranging across equity (such as business angels, crowd funding and multilateral trading facilities), quasi- equity (such as mezzanine finance) and debt instruments (such as micro lending, small-ticket company bonds, guarantee facilities and platforms), in partnerships between banks and other operators involved in SME financing (accountancy professionals, business or SME associations or chambers of commerce), in order to support businesses in their start-up, growth and transfer phases, taking into account their size, turnover and financing needs;
Amendment 140 #
2013/2176(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Strongly believes that businesses can only create jobs if the right conditions exist, including access to a qualified workforce, availability of flexible contractual arrangementsn equilibrium between a flexible job market and a good work-life balance, and keeping administrative burdens to a minimum;
Amendment 186 #
2013/2176(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Believes that also organisations representing SMEs should be encouraged to share cross border best practices on innovative ways to reduce bureaucracy and red tape;
Amendment 208 #
2013/2176(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 245 #
2013/2176(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30a. Therefore calls on the Commission to subject new regulations relevant to enterprises to an overall and inclusive impact assessment, including a comprehensive test, taking into account the needs and challenges that especially SMEs have to face;
Amendment 1 #
2013/2158(INI)
Motion for a resolution
Citation 17 a (new)
Citation 17 a (new)
17 a. having regard to European Parliament resolution of 5 February 2013 on improving access to finance for SMEs (2012/2134(INI))
Amendment 2 #
2013/2158(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the recession in the eurozone came to an end, numerically speaking, in the second quarter of 2013, but whereas annual growth in the eurozone will remain negativfragile this year and unemployment and inequality are at a record high; whereasis still at a very high level; whereas sustainablbe growth needs to be further enhanced for this to be considered a long-lived recovery, and in order to generate the necessary momentum to relieve the EU of its socioeconomic challenges;
Amendment 5 #
2013/2158(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas it should be recalled that, in 2007, at the start of the crisis, the countries which now experience the severest difficulties, had accumulated excessive current account deficits and had severe problems with their competitiveness
Amendment 7 #
2013/2158(INI)
Motion for a resolution
Recital B
Recital B
B. whereas unemployment in the EU has reached the alarming figure of 26.6 million whereas long-term unemployment has risen in most Member States and reached an all-time high in the EU as a whole; whereas the decline in employment has been more pronounced in those countries which are undertaking morea substantial fiscal consolidationreform;
Amendment 9 #
2013/2158(INI)
Motion for a resolution
Recital C
Recital C
C. whereas youth unemployment rates have reached unprecedented levels, averaging 23 % for the EU as a whole, and whereas in some Member States the unemployment rate among young people aged 16 to 25 is higher than 50 %; whereas the labour market situation is particularly critical for young people, regardless of their level of education, who often end up either unemployed or with precarious employment contracts or unpaid traineeships;
Amendment 12 #
2013/2158(INI)
Motion for a resolution
Recital Ca (new)
Recital Ca (new)
C a. whereas the rigidity of labour market regulation in several Member States lacks the flexibility to effectively absorb shocks such as the current crisis; whereas current labour market legislation disproportionally protects insiders and adversely affects the inclusion of young people into the workforce;
Amendment 14 #
2013/2158(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the high – and, in some cases, growing – tax wedge, especially for low- wage- and second-income-earners, remains an issue in a considerable number of Member States and is increasing inequality; whereas the International Monetary Fund (IMF) recently pointed out that there is scope to tax better and more progressively in order to enhance the legitimacy of the consolidation effort while doing more to promote growth and bring in additional revenue along the way; whereas there is a need to shift the tax burden away from labour towards other forms of sustainable tax;
Amendment 16 #
2013/2158(INI)
F. whereas the effects of the crisis and of the excessive fiscal consolidation policies pursued in recent years have resulted in an unprecedented and growing divergence in output and employment between core and periphery countries; whereas the core-periphery gap in unemployment rates reached 10 percentage points in 2012, compared with only 3.5 percentage points in 2000; whereas that divergence is forecast to peak this year;
Amendment 22 #
2013/2158(INI)
Amendment 30 #
2013/2158(INI)
Motion for a resolution
Recital H
Recital H
H. whereas certain macroeconomic imbalances, for instance in the area of external competitiveness, have improved, although internal imbalances between Member States have been exacerbated; whereas evidence shows that a one-size- fits-all policy that relies on external demand and squeezes internal demand is not possible for all eurozone members at the same time; whereas this is heightening the (underestimated) negative impact of simultaneous austerity programmes, thereby depressing internal demand and resulting in over-reliance on demand from third economies, at a time when there are signs of a weakening outlook for emerging economies;
Amendment 34 #
2013/2158(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
H a. whereas the competitiveness gap within the euro area is reflected in the divergences of sovereign interest rates;
Amendment 35 #
2013/2158(INI)
Motion for a resolution
Recital H b (new)
Recital H b (new)
H b. whereas high sovereign interest rates in certain euro area Member States are due to a perceived lack of credibility of their capacity to conduct structural reforms;
Amendment 36 #
2013/2158(INI)
Motion for a resolution
Recital H c (new)
Recital H c (new)
H c. whereas the euro area has failed to use the overall reduction of sovereign interest rates in the first ten years of the euro to close the competitiveness gap, which amongst others has been reflected in persistently large current account deficits and rapidly increasing unit labour costs;
Amendment 37 #
2013/2158(INI)
H d. whereas current adjustment in certain countries would be politically, economically and socially less difficult if the positive economic climate in the first ten years of the euro had been used to adjust;
Amendment 38 #
2013/2158(INI)
Motion for a resolution
Recital I
Recital I
Amendment 41 #
2013/2158(INI)
Motion for a resolution
Recital J
Recital J
J. whereas the greatest challenge facing the eurozone at the moment is the growing socioeconomic divergences between Member States; whereas the severe unemployment and social problems currently faced may spill over to other Member States through internal trade, with the erosion of human capital resulting in a deterioration in long-term international competitiveness, a situation that may lead to a deterioration in the economic fundamentals of the EU as a whole; whereas it is in the interest of all Member States to ensure that employment and social challenges are addressed in a timely and effective manner;
Amendment 45 #
2013/2158(INI)
Motion for a resolution
Recital N
Recital N
N. whereas a coherent policy mix combining macroeconomic policies, structural policies, sound labour market institutions, unsegmented labour markets, coordination of collective bargaining and well-resourced welfare systems (which serve as automatic stabilisers) is essentialwhereas a system based on rapid reintegration into the labour market and flanking measures based on flexsecurity is important in absorbing cyclical shocks is essential;
Amendment 49 #
2013/2158(INI)
Motion for a resolution
Recital O
Recital O
O. whereas since 2010 there has been a growing divergence in the capacity of national fiscal stabilisers to counteract the economic crisis and its employment and social consequences, with this capacity having practically disappeared in those countries hit hardest by the crisis; whereas household incomes, and thus domestic demand, have consequently been less well protected than before, further aggravating the recession; whereas Parliament’s Committee on Employment and Social Affairs held a public hearing on 9 July 2013 on ‘The social dimension of the EMU – European unemployment benefit scheme’, which identifidiscussed the need for automatic stabilisers at the eurozone level;
Amendment 55 #
2013/2158(INI)
P a. whereas the Single Market is the EU's key engine for growth and jobs through economies of scale and greater competition but Member States show complacency in implementing internal market legislation, particularly the services directive;
Amendment 66 #
2013/2158(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
Amendment 71 #
2013/2158(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers it regrettable that the employment and social indicators proposed by the Commission are insufficient to cover the Member States’ employment and social situations comprehensively; calls for the scoreboard to include additional indicators, in particular child poverty levels, a decent work index and a European living wage index, in order to and allow proper assessment of the social situation in the EU;
Amendment 75 #
2013/2158(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 78 #
2013/2158(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 83 #
2013/2158(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Warns that until now the new Macroeconomic Imbalance Procedure has been invoked mainly to urge countries to improve their competitiveness, thereby contributing to deflationary pressures in southern Europe, without requiring the same emphasis on creating inflationary pressures, via wage increases, in those countries with the necessary room for manoeuvre to do so; warns that using the same tools to seek growth via the external sector for all eurozone countries reduces the expected net results by growing external demand at the expense of internal demand;
Amendment 87 #
2013/2158(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Calls on the Commission to step up enforcement of the implementation of internal market legislation; urges Member States to fully implement internal market legislation, particularly the Services Directive;
Amendment 88 #
2013/2158(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls on the Commission to have a more ambitious focus on re-stimulating internal demand, which remains stalled and through an increase in competitiveness, sustainable economic growth and private investment, which will be key to creating sustainable jobs and productivity and avoiding deflationary risks;
Amendment 90 #
2013/2158(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Points out that, whilethat structural reforms may bear fruit in the medium to long term, the need to stimulate the EU’s internal demand requires the Commission and the Council to put in place, as a matter of urgency, an ambitious, coordinated investment plan in order to sustain growth and quality jobs in the short term and enhance potential in the medium termare necessary to stimulate the EU’s internal demand; notes that the main objectives have already been defined in the Europe 2020 strategy and in the Compact for Growth and Jobs agreed in June 2012, but that financing must be stepped up;
Amendment 93 #
2013/2158(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses that in the medium to long term the EU’s competitiveness canwill be boosted primarily through productivity- enhancing investments in education, R&D and continuous innovation; considers that these are the drivers that would make the EU a preferred destination for global enterprises, an exporter of high-value- added products and services and a provider of high-quality jobs;
Amendment 96 #
2013/2158(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Welcomes the fact that in the AGS 2014 the Commission calls on the Member States to protect or promote longer-term investment in education, research and innovation, energy and climate action; considers this insufficient, however, to allow Member States with already- constrained budgets to accomplish that goal; calls on the Commission to explore and promote the necessary reforms to exclude productive investments, for instance in education, and research and development, from the deficit targets established under EU rules so as to ring- fence them, given their potential to generate growth and jobs;
Amendment 101 #
2013/2158(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls for stronger support from the European Investment Bank and for the release of EU funds to support urgent investment plans; notes that project bonds already provide a mechanism for supporting investment, but regards the eurozone’s weak growth and job creation rate as evidence that it should be more ambitious with a view to developing the necessary public and coordinatedrivate and public investments;
Amendment 103 #
2013/2158(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Points out that, at a time of severe fiscal constraint and reduced lending capacity in the private sector, the Structural Funds and the Cohesion Fund, thanks to their financial scale and the objectives pursuedEuropean funds, represent an essential leverage at the Member States’ disposal for stimulating the economy and helping to deliver on the Europe 2020 growth and employment objectives; stresses, in this connection, that in view of the key role played by cohesion policy in the development of national programmes within the framework of the European Semester, this policy should be a prime focus of the AGS 2014;
Amendment 104 #
2013/2158(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Considers that cohesion policyEuropean funding is essential in helping to reduce internal competitive disparities and structural imbalances; calls on the Commission, as a matter of urgency, to reprogramme unspent structural funding in favour of youth employment programmes and SMEs; calls on the Commission to find special solutions for those countries with very high unemployment rates which will be forced to return EU funds on account of co-financing problems; asks the Commission, to this end, to explore the possibility of excluding Member States’ participation in the co-financing of EU funds or programmes (under heading 1 (‘Sustainable growth’) of the Multiannual Financial Framework (MFF)) from the calculation of their structural deficit as defined in the two-pack;
Amendment 109 #
2013/2158(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 111 #
2013/2158(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 112 #
2013/2158(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
Amendment 117 #
2013/2158(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Welcomes the Commission’s recommendations to core countries with the necessary room for manoeuvre to pursue expansionary policies via wage increases; calls on the Commission to make ambitious recommendations which will help to lower the excessive deflationary pressures on southern Europe and to avoid the risk of exacerbating imbalances in growth and job creation in the eurozonefirstly to further reform in order to ensure that wage developments are in line with productivity and thus support both competitiveness and aggregate demand, secondly to remedy labour market segmentation, notably by modernising employment protection legislation, and thirdly to support job creation in fast- growing sectors and lastly to facilitate labour mobility;
Amendment 120 #
2013/2158(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Notes that the Commission, in its 2014 draft Joint Employment Report 2014, points out that unit labour cost reductions and wage moderation have fed into price developments only slowly and incompletely, in part because of simultaneous hikes in indirect taxes and administered prices owing to fiscal consolidation;
Amendment 123 #
2013/2158(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Notes that decent wages are important not only for social cohesion and fairness in society, but also for maintaining a strong economy; calls on the Commission and Member States to propose measures that tackle inequality and guarantee decent pay; calls on the Member States to combat in- work poverty by pursuing labour market policies aimed at ensuring a living wage for those in work;
Amendment 126 #
2013/2158(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 130 #
2013/2158(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses that job quality is essential in a knowledge-intensive economy in order to promote high labour productivity and rapid innovation by means of a skilled, adaptable, committed workforce with decent health and safety standards, a sense of security and reasonable working hours; considers that this is not given sufficient emphasis in the AGS 2014, and calls on the Commission to remedy the situation in the 2014 CSRs; believes that policy guidance should focus in particular on workers’ access to a core set of labour rights, as enshrined in the Treaties and without prejudice to the Member States’ legislation;
Amendment 131 #
2013/2158(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
Amendment 133 #
2013/2158(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Stresses that a sustainable exit from the crisis requires effective measures to address the debt overhang, the domestic liquidity shortage and the investment slump; recalls that private debt sustainability is a precondition for investment, growth and job creation; calls on the Commission to introduce measures allowing orderly debt restructuring, particularly for households and SMEs;
Amendment 138 #
2013/2158(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Calls on the Commission to engage with the Member States in the creation of recyclable-Welcomes the different loan vehicles, funded by a combination of official and private resources and/or supported by guarantees issued by European institutions, such as the European Investment Bank, in order to which help to restore liquidity to households and SMEs as a matter of urgency;
Amendment 140 #
2013/2158(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
Amendment 143 #
2013/2158(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Considers it regrettable that the Council failed to take account of Parliament’s call for a focus on job quality in its guidance for 2013; calls on the Commission to include job quality, training, access to lifelong learning, core workers’ rights, and support for labour market mobility and self-employment through increased security for workers in the CSRs based on the AGS 2014;
Amendment 144 #
2013/2158(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Stresses that labour market reforms should focus on increasing labour productivity and efficiency in order to boost the EU’s economic competitiveness and allow sustainable growth and job creation, while strictly respecting both the letter and the spirit of the European social acquis and its principles; believes that labour market reforms should be implemented in such a way as to promote job quality;
Amendment 146 #
2013/2158(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Believes that structural labour market reforms should introduce internal flexibility in order to maintain employment in times of economic disruption, and should ensure job quality, security in employment transitions, the provision of unemployment benefit schemes that are based on activation requirements and linked to reintegration policies which maintain work incentives while ensuring a decent income, and the establishment of contractual arrangements which combat labour market segmentation, anticipate economic restructuring and ensure access to lifelong learning;
Amendment 149 #
2013/2158(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
Amendment 152 #
2013/2158(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. Calls on the Commission to design tailor-made policies to support job creation for the long-term unemployed, senior unemployed people, women and other priority groups hit especially hard by the crisis, such as immigrants and people with disabilities in close collaboration with the private sector;
Amendment 157 #
2013/2158(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Is deeply concerned that, once again, youth unemployment rates are continuing to rise; notes that the situation of unemployed young people is particularly worrying; calls, therefore, on the Commission and the Member States to take urgent action in this connection; calls for a European Pact for Youth Employmentupon the Member states to implement long-agreed measures, and for new resources and measures to be committed with a view to tackling youth unemployment and reducing the number of young people not in employment, education or training (NEETs), taking into account the qualitative aspect of decent work that fully respects core labour standards;
Amendment 165 #
2013/2158(INI)
Motion for a resolution
Paragraph 39
Paragraph 39
Amendment 168 #
2013/2158(INI)
Motion for a resolution
Paragraph 40
Paragraph 40
Amendment 178 #
2013/2158(INI)
Motion for a resolution
Paragraph 44
Paragraph 44
Amendment 181 #
2013/2158(INI)
Motion for a resolution
Paragraph 45
Paragraph 45
45. Stresses that the high – and, in some cases, growing – tax wedge, especially for low-wage- and second-income-earners, remains an issue in a considerable number of Member States; notes, however, that only a few countries have taken steps to address this problem, not least on account of the limited fiscal margin;
Amendment 182 #
2013/2158(INI)
Motion for a resolution
Paragraph 46
Paragraph 46
46. Is concerned that in the AGS 2014 the Commission supports further increases in indirect taxes, which are generally less progressive than direct taxes; cCalls on the Commission to take note of the IMF’s October 2013 tax report, which points out that there is scope to tax better and more progressively in order to enhance the legitimacy of the consolidation effort while doing more to promote growth and bring in additional revenue along the way;
Amendment 186 #
2013/2158(INI)
Motion for a resolution
Paragraph 47
Paragraph 47
47. Supports the Commission’s call to shift the tax burden away from labour and suggests shifting it towards other forms of sustainable tax such as a harmonised corporate tax, the financial transaction tax (FTT) and carbon taxes;
Amendment 189 #
2013/2158(INI)
Motion for a resolution
Paragraph 49
Paragraph 49
49. Notes the importance of reducing taxation on labour, especially through well-targeted temporary reductions in social security contributions or job subsidy schemes for new recruits, especially low-paid and low-skilled workers, the long-term unemployed and other vulnerable groups, while ensuring the long-range sustainability of public pension systems;
Amendment 191 #
2013/2158(INI)
Motion for a resolution
Paragraph 51
Paragraph 51
51. Is concerned about the increase in poverty among all age groups since the 2013 European Semester cycle; notes that poverty and social exclusion among 18- to 64-year-olds has increased significantly in two thirds of the Member States in recent years, mainly because of rising levels of jobless or low-work-intensity households and in-work poverty; notes that the risk of poverty and social exclusion in 2012 was much higher (48.8 %) for third-country nationals (aged 18 to 64) than for EU nationals
Amendment 195 #
2013/2158(INI)
Motion for a resolution
Paragraph 52
Paragraph 52
52. Welcomes the recognition in the AGS 2014 of the need to tackle the social consequences of the crisis and ensure the financial sustainability of social protection; calls on Member States to reinforce safety nets, ensure the effectiveness of welfare systems and invest in preventive measures; urges the Commission to take account of the impact of the economic adjustment programmes on progress towards the Europe 2020 headline targets in those Member States experiencing financial difficulties and to agree on modifications aimed at bringing the adjustment programmes into line with the Europe 2020 objectives;
Amendment 199 #
2013/2158(INI)
Motion for a resolution
Paragraph 53
Paragraph 53
53. Takes note of the CSR proposal for many Member States regarding pension reforms; considers it regrettable that the Commission’s recommendations were made without reference to Parliament’s recommendations in the Green and White Papers on pensions; stresses that pension reforms require national political and social cohesion and must be negotiated with the social partners to be successful;
Amendment 203 #
2013/2158(INI)
Motion for a resolution
Paragraph 54
Paragraph 54
54. Stresses the need to carry out the necessary reforms to guarantee the sustainability of pension systems; believnotes that it is possiblemight be necessary to raise the actualmandatory retirement age withoutin order to raisinge the mandatoryactual retirement age, by reducingelieves that the number of people leaving the labour market early should be diminished in order to raise the actual retirement age successfully; believes that in order to raise effective retirement ages successfully, pension reforms need to be accompanied by policies that limit access to early retirement schemes and other early exit pathways, develop employment opportunities for older workers, guarantee access to life-long learning, introduce tax benefit policies offering incentives to stay in work longer, and support active healthy ageing;
Amendment 209 #
2013/2158(INI)
Motion for a resolution
Paragraph 56
Paragraph 56
56. Notes that social protection and social policy, in particular unemployment benefits, minimum income support and progressive taxation, initially helped to reduce the depth of the recession and stabilised labour markets and consumption; stresses, however, that the capacity of these crucial economic and social stabilisers has been reduced to its absolute minimum owing to austerity measures in those Member States in which such stabilisers are most needed; notes that household incomes and domestic demand have consequently been less well protected, which has aggravated the recession in the countries concerned;
Amendment 212 #
2013/2158(INI)
Motion for a resolution
Paragraph 57
Paragraph 57
57. Stresses that social policies and social standards have been widely used as adjustment factors by those EMU members experiencing negative economic shocks; notes that such internal devaluations have had drastic social consequences for national welfare states and their citizens, resulting in a social emergency in many Member States;
Amendment 216 #
2013/2158(INI)
Amendment 218 #
2013/2158(INI)
Motion for a resolution
Paragraph 59
Paragraph 59
59. Invites the December 2013 European Council to define concrete steps forward in terms of building a genuine social and employment pillar as part of the EMU on the basis of the Community method and to elaborate further on the modalities of introducing a European unemployment benefit scheme as an automatic stabiliser for the eurozone;
Amendment 233 #
2013/2158(INI)
Motion for a resolution
Recommendation 1
Recommendation 1
Amendment 237 #
2013/2158(INI)
Motion for a resolution
Recommendation 2
Recommendation 2
Amendment 239 #
2013/2158(INI)
Motion for a resolution
Recommendation 3
Recommendation 3
Amendment 246 #
2013/2158(INI)
Motion for a resolution
Recommendation 4
Recommendation 4
Amendment 252 #
2013/2158(INI)
Motion for a resolution
Recommendation 5
Recommendation 5
Amendment 254 #
2013/2158(INI)
Motion for a resolution
Recommendation 6
Recommendation 6
Amendment 260 #
2013/2158(INI)
Motion for a resolution
Recommendation 7
Recommendation 7
Amendment 263 #
2013/2158(INI)
Motion for a resolution
Recommendation 8
Recommendation 8
Amendment 267 #
2013/2158(INI)
Motion for a resolution
Recommendation 9
Recommendation 9
Amendment 268 #
2013/2158(INI)
Motion for a resolution
Recommendation 10
Recommendation 10
Amendment 271 #
2013/2158(INI)
Motion for a resolution
Recommendation 11
Recommendation 11
Amendment 273 #
2013/2158(INI)
Motion for a resolution
Recommendation 12
Recommendation 12
Amendment 11 #
2013/2157(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas, on 20-22 January 2014, the European Parliament held a high-level meeting with national parliamentarians (European Parliamentary Week) to discuss the Annual Growth Survey 2014 as well as general economic policy objectives for growth and jobs with a view to take greater account of the effectiveness of policies and of potential spill-over effects in the EU;
Amendment 11 #
2013/2134(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the economic, social, financial and sovereign debt crises have not yet abated and the objective of a more balancedrobust and integrated Economic and Monetary Union (EMU) remains an unattained ambition;
Amendment 13 #
2013/2134(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas a rebalancing of the EU economy can be observed, but public finances and growth prospects remain a matter of concern;
Amendment 18 #
2013/2134(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the Commission's country- specific recommendations (CSRs) contain some useful insights, but on the whole fail to convince in termrecommendations but their success depends ofn the balance of the policy prescriptions across policy areadue implementation by Member States;
Amendment 28 #
2013/2134(INI)
Motion for a resolution
Recital C
Recital C
C. whereas urgent action is required in many areas, inter alia in restoring lending to the real economy and SMEs, which involves developing alternative resources of financing and becoming less dependent on bank financing, in making the business environment more competitive, in increasing competition in the product and services markets, in fighting tax fraud and aggressive tax planning, and in seeking effective European solutions to unemployment and thus also significantly enhancing the social dimension ofestablishing a fully integrated and flexible labour market in the EMU;
Amendment 49 #
2013/2134(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission's recognition that ‘to be successful, policies need not only to be well designed but to have political and social support’, and that Europe needs, beyond fiscal consolidation, real growth , deep structural reforms, and specific and urgent action to tackle the unacceptably high levels of unemployment and the lack of competitiveness;
Amendment 53 #
2013/2134(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the Commission's recognitionstance that ‘deficit’ countries need to boost their competitiveness and that ‘surplus’ countries needcould take measures to boost their demand, and that this calls for a deep revision of the prevailing policy stance;
Amendment 61 #
2013/2134(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Believes that the EU economy as a whole needs to boost its competitiveness in the global economy, particularly by increasing competition in the product and services markets to enhance productivity and lower prices, and by keeping labour costs in line with productivity; stresses that the EU cannot compete on costs only but needs to invest more in research and development, education and skills, and resource efficiency;
Amendment 72 #
2013/2134(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the fact that the Commission's recommendations are directed not only at Member States but also to the euro area as a whole; considers it regrettable, however, that the recommendations made to Member States do not take sufficientlyneed to take more into account the strong interdependence between EU economies, particularly within the euro area, or all the information contained in the Alert Mechanism Report;
Amendment 83 #
2013/2134(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls for a prudent assessment of the ‘slow recovery’ growth forecasts as previous Commission forecasts have successively been revised downwards and recommends a closer look into the sustainability of the improvements identified in trade and current account balances and public deficits, and the progress on structural reforms;
Amendment 98 #
2013/2134(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls on the Commission to submit as a matter of urgency the legislative proposals on new financial incentives suppex-ante coortding Member States in the implementation of structural reforms, includingation of national reforms and on a Competitiveness and Convergence Instrument (CCI) based on the Community method as a first step towards a European fiscal capacity;
Amendment 117 #
2013/2134(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the use by the Commission of the margin of manoeuvre offered by the revised SGP to extend the deadlines for the correction of excessive deficits in seven procedures; calls on the Commission and the Council to ensure that the content and the calendar of the fiscal adjustment path are adapted to the specificity of each country and, particularly in ‘deficit’ countries, include the aforementioned margin of manoeuvre and the full use of structural funds, sound and sustainable structural reforms and the identification of investments (namely in the CSR) essential to boost competitiveness; calls onwelcomes the Commission to clarify as a matter of urgency the ways in whichication on ways to accommodate, under certain conditions, non-recurrent, public investment programmes with a proven impact on the sustainability of public finances while fully respecting the EU fiscal surveillance framework;
Amendment 126 #
2013/2134(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Welcomes the Commission's statement that ‘surplus’ countries have a role to play in overcoming the current crisis, not only byTakes note that recent wage developments in 'surplus' countries are contributing to sustaining demand and also have positive spill-over effects elsewhere in the EU; welcomes the Commission's statement that ‘surplus’ countries with sufficient fiscal space could do more to reducinge taxes and social security contributions but also by developing wages in order to boost sustainable domestic demand and promoting new investment opportunities; stresses the importance of the positive spill-over effects which these actions will have across the EUand that these Member States could boost domestic demand by opening up their services sector;
Amendment 138 #
2013/2134(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Urges the Commission to develop a genuine European industrial policy based on enhanced competitiveness and innovation, and a coherent European external trade policy, based on reciprocity and shared minimum standards, in particular in social and environmental matters; believes that it is only by intelligently managing its interface with ‘globalisation’ that Europe can guarantee growth, jobs and, for several Member States, the recommended progressive reallocation of resources away from non- tradable sectors into tradable sectors;
Amendment 150 #
2013/2134(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on the Commission to submit legislative proposals to complete the EMU through a social pillar, as the national automatic stabilisers are blocked in the Member States where they are most needed; stresses thaand Member States to develop a fully integrated European labour market; suggests that the in-depth reviews foreseen in the Macroeconomic Imbalances Procedure could regularly review employment and social policies with a view to identify such policies that mitigate social problems and improve employment; believes that this enhanced monitoring system would help better coordinate policies with a view to identify and tackle major challenges in a timely fashion and better integrate employment and social scoreboard is needed as a building block of this pillarncerns in the overall policy landscape;
Amendment 166 #
2013/2134(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Agrees that the ECB's action has ‘decisively contributed to the stability of the euro area’, limiting speculation on sovereign debt; considers, however, that insufficient growth and high (and still growing) levels of private and public debt in many Member States mean that ‘a carefully managed process of deleveraging’ is required; calls on the Commission, therefore, to quickly deliver its 2-pack commitments to Parliament in order to deepen the analysis on the partial substitution of national debt issuance through joint issuance based on conditionality in the form of a redemption fund and eurobills;
Amendment 173 #
2013/2134(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses that the financing of the real economy, and of SMEs in particular, has not been restored on the EU's periphery; points out that major differences in access to creditfinance further stimulate the growing internal divergence trends in the EU and euro area in particular and destroy the internal market through unfair competition conditions; points out also that negative economic prospects only partially justify such restrictive credit constraints; calls for closer monitoring of the banking sector practices in financing the real economy, in particular economically viable SMEs; calls for the Commission to prioritise work on alternative sources of financing for SMEs, in particular through capital markets, the structural funds, the European Investment Bank, the European Investment Fund and public development banks;
Amendment 186 #
2013/2134(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. UrgWelcomes the Commission to submit a legislative proposal to create a Single Resolution Mechanism (including a Single European Authority and an industry financed Single European Fund), which is essential for completing the Banking Union; urges the Council to rapidly conclude negotiations with Parliament on the Deposit Guarantee Schemes Directive and on the Banking Recovery and Resolution Directive (to be negotiated in parallel);
Amendment 197 #
2013/2134(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls for direct banking recapitalisation by the European Stability Mechanism (ESM) to be available as soon as all the pillars of the Banking Union – namely the Single Supervisory Mechanism and the Deposit Guarantee and Recovery and Resolution frameworks – arethe Single Supervisory Mechanism is in place; given the urgency of having a Single Resolution Fund to accompany the SSM, supports the immediate frontloading of the ESM to feed the SRF, with a reimbursement period by industry; believes that the ESM facility must reinforce the EU budget and be managed under the Community method;
Amendment 204 #
2013/2134(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
Amendment 235 #
2013/2134(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26a. Stresses that there should be a clear division between competences between the EU and national level and that the European Parliament is the seat of accountability at the Union level; requests that whenever new competences are transferred to or created at Union level or when new Union institutions are established, a corresponding democratic control by, and accountability to, the European Parliament shall be ensured;
Amendment 4 #
2013/2127(INI)
Draft opinion
Paragraph 2 – subparagraph 1
Paragraph 2 – subparagraph 1
Believes that, in order to promote financial participation aimed at creating a new form of company financing and enabling employees to be more connected to the company that employs them, share capital subscriptions or specific debt securities (bonds) should be offered; takes the view that the capital subscriptions should be voluntary for the company and the employee, either individually or in a group;
Amendment 10 #
2013/2127(INI)
Draft opinion
Paragraph 2 – subparagraph 3
Paragraph 2 – subparagraph 3
Amendment 13 #
2013/2127(INI)
Draft opinion
Paragraph 2 – subparagraph 4
Paragraph 2 – subparagraph 4
Amendment 17 #
2013/2127(INI)
Draft opinion
Paragraph 2 – subparagraph 4 a (new)
Paragraph 2 – subparagraph 4 a (new)
Believes that, in order to create a level playing field and not to hamper the internationalisation of enterprises, and to avoid double taxation and discrimination, the Commission should consider an optional, voluntary and overarching ‘29th regime’ to complement national taxation systems;
Amendment 18 #
2013/2127(INI)
Draft opinion
Paragraph 2 – subparagraph 4 b (new)
Paragraph 2 – subparagraph 4 b (new)
Is therefore of the view that the European Commission should present guidelines on the taxation of EFP;
Amendment 21 #
2013/2127(INI)
Draft opinion
Paragraph 3 – subparagraph 1
Paragraph 3 – subparagraph 1
Notes that, as indicated before the financial crisis, remuneration policies that encourage excessively risky behaviour can undermine the sound and efficient management of credit institutions and investment fundompanies;
Amendment 9 #
2013/2062(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Calls for enhanced efforts to be made to implement the EU 2020 objectives of smart, sustainable and inclusive growth by promoting a stronger European automotive industry;
Amendment 14 #
2013/2062(INI)
Draft opinion
Paragraph 3
Paragraph 3
Amendment 25 #
2013/2062(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Supports the creation of a European Automotive Skills Council, promoting relevant higher education and vocational training by bringing together national organisations, the education sector and social partners in order to promote skills development and employment in the automotive sector;
Amendment 31 #
2013/2062(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses the need for even better use to be made of EURES, and, in this respect, supports the use of EURES not only as a means of advising workers and job-seekers on their right to free movement, but also as a labour market instrument with a special focus on placement, thereby enhancing the ability of European car manufacturers to access the skilled labour supply that they need;
Amendment 11 #
2013/2047(INI)
Motion for a resolution
Recital B
Recital B
B. whereas while EMIR and CSDR aim to reduce systemic risk through well- regulated market infrastructure, there is a strong possibility of unintended consequences; (Legislators and supervisors are doing their utmost to avoid unintended consequences of theOr. en reform. Without any hard evidence the word “strong” should be deleted.)
Amendment 26 #
2013/2047(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Calls on the Commission to prioritise recovery and resolution first of CCPs and those CSDs, second of CSDs, including those which are exposed to credit risk, and when consideringif appropriate of other financial institutions, and to differentiate appropriately between each type;
Amendment 79 #
2013/2047(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Establishes that it is the responsibility of a CSD to ensure that its recovery plan clearly provides for operational continuity in reasonable crisis scenarios so that, even if other parts of its business can be disposed of, its pcrimary settlementtical functions can continue; (Not only the settlement function but also the access to the book-entry system and theOr. en financial instruments in such systems could be critical in a crisis scenario.)
Amendment 83 #
2013/2047(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls, if no separate legislative proposal is imminent, for inclusion in the CSDR of references to the articles of the BRRD that should apply to those CSDs operating under a banking licence; (In the short run it is important with recovery and resolution plans for all CSDs and ina requirement for national competent authorities to ensure the establishment of appropriate recovery and resolution plans in line with international standards for all CSDs, such plans are very important for those CSDs operating under a banking licence; Or. en particular for those CSDs operating under a banking license.)
Amendment 85 #
2013/2047(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Member States, in the absence of Securities Law Legislation, to to develop and coordinate their existing special administration regimes for CSDs in order to improve certainty as to how operational continuity will be maintained in a crisis, in particular by ensuring access to registries f. The competent authorities should aim at developing a solution ensuring no disruption of the access to records [registries, accounts or othe resolution authority so as to identify the owners of assets; (SLL will probably not solve the problem with different rules in the Member States regarding CSDs. Such regime should ensure the access to the book-entry system and the informationr] evidencing rights of participants or third parties to securities; Or. en the treatment of client assets regimes in a bankruptcy situation and in absent of a full harmonization of insolvency law it is important with a special administration regime for about the financial instruments in those systems.)
Amendment 88 #
2013/2047(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Calls on the Commission to ensure that the proposal for a recovery and resolution framework for CSDs ensures continuity of the CSDs’ legislative environment, in particular by respecting the Settlement Finality Directive, Delivery versus Payment arrangements, the operation of any CSD link, and contracts with critical service providers during the recovery and resolution;
Amendment 3 #
2013/2021(INI)
Motion for a resolution
Citation 6 a (new)
Citation 6 a (new)
- having regard to the proposal of 6 June 2012 for a directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directives 77/91/EEC and 82/891/EC, Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC and 2011/35/EC and Regulation (EU) No 1093/2010,
Amendment 14 #
2013/2021(INI)
Motion for a resolution
Recital B
Recital B
B. whereas in the five years since the 2008 global economic and financial crisis, the EU economy has remained in a state of recession, with Member States providing subsidiestate anid implicit guarantees to banksn form of capital and guarantees to banks and markets that have remained fragmented;
Amendment 26 #
2013/2021(INI)
Motion for a resolution
Recital C
Recital C
C. whereas excessive risk-taking, excessive leverage, inadequate capital and liquidity requirements, weak banking and markets supervision and the excessive complexity of the overall banking system were at the root of the financial crisis;
Amendment 35 #
2013/2021(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the current post-crisis weakness in the structure of EU bankcapitalisation of EU banks, massive deleveraging and rising funding costs for banks in some Member States demonstrates the need for reformfurther reform of capital requirements in order to serve the wider needs of the economy, break the link between sovereigns and banks and restore the confidence in capital markets;
Amendment 46 #
2013/2021(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the eighth (December 2012) edition of the Commission's Consumer Markets Scoreboard clearly indicates that consumer trust in the EU banking sector is at an all-time low and that the industry has high levels of noncompliance with consumer protection legislation5 and the consumers' confidence needs to be restored ;
Amendment 58 #
2013/2021(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. Whereas the transformation process towards a more sustainable, less systemic and viable banking sector seems to differ between members states.
Amendment 122 #
2013/2021(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Takes the view that while current proposals for reforms of EU banking sector rules (including the Capital Requirements Directive and Regulation, the Recovery and Resolution Directive, the Single Supervisory Mechanism, the Deposit Guarantee Schemes Directive and shadow banking initiatives) are vital, a more fundamental reform of the banking structure is essentialbut should still come into effect; underlines that the cumulative impact of the new European financial regulation should be assessed and evaluated; stresses that such impact analysis should be taken into account when considering essential and more fundamental reforms of the banking structure, and complementary to the other proposals;
Amendment 140 #
2013/2021(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Deplores the national initiatives in France, Germany and UK that, although well intended, risk to undermine the Single Market and distort competition in the EU banking sector;
Amendment 154 #
2013/2021(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Stresses that also an impact assessment of the cost to the EU economy of splitting up certain banks needs to be taken into account when developing possible measures; underlines that such an impact assessment should also provide a clear picture on the desired timing of such possible reforms given the difficult economic situation within the European Union;
Amendment 184 #
2013/2021(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Calls for more legal certainty and clarity in all ongoing and additional reforms, which have direct impact on funding costs for banks and - in consequence - also effect lending to the real economy;
Amendment 191 #
2013/2021(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Considers that an effective banking system must deliver a change in banking culture in order toand reduce complexity, enhance competitionsimplify the structure, limit interconnectedness between risky and commercialcore banking and non-banking holding activities, improve corporate governance, create a responsible and sustainable remuneration system based on long-term incentives, allow effective bank resolution and recovery, reinforce the customer oriented banking, reinforce bank capital and deliver credit to the real economy;
Amendment 232 #
2013/2021(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Urges the Commission to analyse the need to come forward with a proposal for mandatory separation of banks' retail and investment activities;
Amendment 259 #
2013/2021(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Urges the Commission to come forward with a proposal for such mandatory separation through the establishment of a thorough, transparent and credible ‘'ring fence’' around bank activities that are vital for the real economy, such as those relating to credit functions, payment systems and deposits; takes the view that in the event of a bank failure, the ring fence must ensure that the retail entityse bank activities continues business unaffected by operational problems, financial losses, funding shortages or reputational damage resulting from the resolution or insolvency of the investment entity;
Amendment 264 #
2013/2021(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Urges the Commission to ensure that trading activities do not benefit from implicit guarantees, the use of insured deposits or taxpayer bailouts and that these activities do not pose a risk to the delivery of ring-fenced retail serviceresponsible management of banks and competent supervisors to ensure that trading activities in the banking system do not pose a systemic risk and are subject to robust risk management controls;
Amendment 288 #
2013/2021(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Urges the Commission to ensure that where banks undertake tradingparticular trading risk type of activities, the risks and costs associated with those activities are borne by their trading arm and not by their ring- fenced retail arm;
Amendment 301 #
2013/2021(INI)
Motion for a resolution
Paragraph 12 – introductory part
Paragraph 12 – introductory part
12. Urges the Commission to ensure that separationin the case of an obligatory separation this would results in:
Amendment 342 #
2013/2021(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Urges the Commission to take into account the ECB's proposal to establish clear and enforceable criteria for separation8 that also allow for flexibility to the national and European supervisor when evaluating the whole financial status of a given bank and its market;
Amendment 358 #
2013/2021(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Stresses the need for enhanced macro-surveillance as one of the crucial aspects to mitigate risks in the interconnected EU banking sector;
Amendment 360 #
2013/2021(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Urges the Commission to ensure that the retail entityevery bank has sufficient capital and, liquid assets and bail-inable instruments to enable it, in the event of the bank's failure, to maintain depositors' access to funds, and to protect the essential services of the ring-fenced arm from the risk of disorderly failure and to prioritise paying out depositors in a timely fashthrough an efficient resolution;
Amendment 377 #
2013/2021(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Urges the Commission and competent supervisors to ensure that adequate differentiation exists in terms of capital, leverage and liquidity requirements between the investment and, retail entities, withand universal banks, and emphasis on higher capital requirements for the investment entityspecially appropriate and needed capital and liquidity flows within banking groups operating in different Member States are ensured;
Amendment 417 #
2013/2021(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Urges the Commission to includexplore possible and adequate provisions introducing personal accountability and liability for board members on both sides of the ring fence and at group level;
Amendment 444 #
2013/2021(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Urges the Commission to make provision for national supervisors to have the power to implement full and legal separation of banks in accordance with the Single Supervisory Mechanism;
Amendment 448 #
2013/2021(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Asks the Commission to propose that adequate resources and powers be allocated to nationalcompetent supervisors; y authorities including SSM;
Amendment 472 #
2013/2021(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Urges the Member StatesCommission to ensure that their national supervisorscompetent supervisory authorities including SSM have the clear objective of promoting effective competition in their banking sectors;
Amendment 60 #
2013/0442(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 19
Article 3 – paragraph 1 – point 19
Amendment 110 #
2013/0442(COD)
Proposal for a directive
Article 5 – paragraph 4
Article 5 – paragraph 4
Amendment 187 #
Amendment 55 #
2013/0402(COD)
Proposal for a directive
Recital 2
Recital 2
(2) Open innovation is an important lever for the creation of new knowledge and underpins the emergence of new and innovative business models based on the use of co-created knowledge. Trade secrets have an important role in protecting the exchange of knowledge between businesses and/or research institutions within and across the borders of the internal market in the context of research and development and innovation. Collaborative research, including cross- border cooperation, is particularly important to increase the levels of business research and development within the internal market. Open innovation is a catalyst for new ideas to find their way to the market meeting the needs of consumers and tackling societal challenges. In an internal market where barriers to such cross-border collaboration are minimised and where cooperation is not distorted, intellectual creation and innovation should encourage investment in innovative processes, services and products. Such an environment conducive to intellectual creation and innovation is also important for employment growth and improving competitiveness of the Union economy. Trade secrets are amongst the most used form of protection of intellectual creation and innovative know-how by businesses, yet they are at the same time the least protected by the existing Union legal framework against their unlawful acquisition, use or disclosure by third parties.
Amendment 62 #
2013/0402(COD)
Proposal for a directive
Recital 8
Recital 8
(8) It is appropriate to provide for rules at Union level to approximate the national legislative systems so as to ensure a sufficient and consistent level of redress across the internal market in case of unlawful acquisition, use or disclosure of a trade secret. For this purpose, it is important to establish a homogenous definition of a trade secret without restricting the subject matter to be protected against misappropriation. Such definition should therefore be constructed as to cover business information, technological information and know-how where there is both a legitimate interest in keeping confidential and a legitimate expectation in the preservation of such confidentiality. Such confidential know- how should furthermore have commercial value, whether actual or potential, insofar as its unlawful acquisition, use or disclosure undermines the scientific and technical potential, business or financial interests, strategic positions or ability to compete of the trade secret holder. By nature, such definition should exclude trivial information and should not extend to the knowledge and skills gained by employees in the normal course of their employment and which are known among or accessible to persons within the circles that normally deal with the kind of information in question.
Amendment 64 #
2013/0402(COD)
Proposal for a directive
Recital 8 a (new)
Recital 8 a (new)
(8a) The obligations listed in Article 3(3) should not limit the use of the acquired experience and know-how by honest practices in the framework of a labour agreement or any other contractual relation. This should ensure that labour mobility will not be endangered while at the same time ensuring an adequate protection for trade secrets.
Amendment 69 #
2013/0402(COD)
Proposal for a directive
Recital 10
Recital 10
(10) In the interest of innovation and to foster competition, the provisions of this Directive should not create any exclusive right on the know-how or information protected as trade secrets. Thus, independent discovery of the same know- how and information remains possible and competitors of the trade secret holder are also free to reverse engineer any lawfully acquired product, as long as this is in line with honest commercial practices.
Amendment 71 #
2013/0402(COD)
Proposal for a directive
Recital 10 a (new)
Recital 10 a (new)
(10a) The acquisition or disclosure of a trade secret by a public body, whether imposed or permitted by law, shall not constitute an unlawful use or disclosure. This acquisition or disclosure should however be clearly within the mandate of the respective public body, and outstepping this mandate will constitute an unlawful act.
Amendment 74 #
2013/0402(COD)
Proposal for a directive
Recital 11
Recital 11
(11) In line with the principle of proportionality the measures and remedies intended to protect trade secrets should be tailored to meet the objective of a smooth functioning internal market for research and innovation without jeopardising other objectives and principles of public interest. In this respect, the measures and remedies ensure that competent judicial authorities account for the value of a trade secret, the seriousness of the conduct resulting in the unlawful acquisition,all relevant circumstances resulting in the use or disclosure of the trade secret as well as the impact of such conductuse or disclosure. It should also be ensured that the competent judicial authorities are provided with the discretion to weigh up the interests of the parties to the litigation, as well as the interests of third parties including, where appropriate, consumers.
Amendment 82 #
2013/0402(COD)
Proposal for a directive
Recital 14
Recital 14
(14) The prospect of losing the confidentiality of a trade secret during litigation procedures often deters legitimate trade secret holders from instituting proceedings to defend their trade secrets, thus jeopardising the effectiveness of the measures and remedies provided for. For this reason, it is necessary to establish, subject to appropriate safeguards ensuring the right to a fair trial, specific requirements aimed at protecting the confidentiality of the litigated trade secret in the course of legal proceedings instituted for its defence. These should include the possibility to restrict access to evidence or hearings, or to publish only the non- confidential elements of judicial decisions. To ensure a sufficient access to information, in cases where access is restricted, at least one person from each party and its respective lawyer should have access to evidence or hearings. Such protection should remain in force after the legal proceedings have ended for as long as the information covered by the trade secret is not in the public domain.
Amendment 85 #
2013/0402(COD)
Proposal for a directive
Recital 15
Recital 15
(15) Unlawful acquisition, use or disclosure of a trade secret by a third party could have devastating effects on its legitimate holder since once publicly disclosed it would be impossible for that holder to revert to the situation prior to the loss of the trade secret. As a result, it is essential to provide for fast and accessible interim measures for the immediate termination of the unlawful acquisition, use or disclosure of a trade secret. Such relief must be available without having to await a decision on the substance of the case, with due respect for the rights of defence and the principle of proportionality having regard to the characteristics of the case in question. Guarantees of a level sufficient to cover the costs and the injury caused to the respondent by an unjustified request may also be required, particularly where any delay would cause irreparable harm to the legitimate holder of a trade secret.
Amendment 121 #
2013/0402(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 4
Article 2 – paragraph 1 – point 4
(4) ’infringing goods’ means goods whose designproducts or services whose characteristics, quality, manufacturing process or marketing significantly benefits from trade secrets unlawfully acquired, used or disclosed.
Amendment 129 #
2013/0402(COD)
Proposal for a directive
Article 3 – paragraph 2 – point a
Article 3 – paragraph 2 – point a
(a) unauthorised access to or copy, copy or appropriation of any documents, objects, materials, substances or electronic files, lawfully under the control of the trade secret holder, containing the trade secret or from which the trade secret can be deduced;
Amendment 132 #
Amendment 134 #
Amendment 136 #
Amendment 137 #
2013/0402(COD)
Proposal for a directive
Article 3 – paragraph 2 – point e
Article 3 – paragraph 2 – point e
Amendment 159 #
2013/0402(COD)
Proposal for a directive
Article 3 – paragraph 5
Article 3 – paragraph 5
5. The conscious and deliberate production, offering or placing on the market of infringing goods, or import, export or storage of infringing goods for those purposes, shall be considered an unlawful use of a trade secret, when the person carrying out such activities knew, or should, under the circumstances, have known that the trade secret was used unlawfully.
Amendment 164 #
2013/0402(COD)
Proposal for a directive
Article 4 – paragraph 1 – point b
Article 4 – paragraph 1 – point b
(b) observation, study, disassembly or test of a product or object that has been made available to the public or that it is lawfully in the possession of the acquirer of the information; and is not under any legal obligation to limit the acquisition of the trade secret.
Amendment 166 #
2013/0402(COD)
Proposal for a directive
Article 4 – paragraph 1 – point c
Article 4 – paragraph 1 – point c
Amendment 174 #
2013/0402(COD)
Proposal for a directive
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. The acquisition, use and disclosure of trade secrets shall be considered lawful to the extent that such acquisition, use or disclosure is required or allowed by Union or national law.
Amendment 176 #
2013/0402(COD)
Proposal for a directive
Article 4 – paragraph 2 – point a
Article 4 – paragraph 2 – point a
(a) for making legitimate use of the right to freedom of expression and information as reflected in Article 11 of the Charter of Fundamental Rights of the European Union;
Amendment 182 #
2013/0402(COD)
Proposal for a directive
Article 4 – paragraph 2 – point d
Article 4 – paragraph 2 – point d
Amendment 189 #
2013/0402(COD)
Proposal for a directive
Article 4 – paragraph 2 – point e
Article 4 – paragraph 2 – point e
(e) for the purpose of protecting a legitimate interest recognised by Union or national law.
Amendment 196 #
2013/0402(COD)
Proposal for a directive
Article 7 – paragraph 1
Article 7 – paragraph 1
Member States shall ensure that actions for the application of the measures, procedures and remedies provided for in this Directive may be brought within at least one year but not more than twofour years after the date on which the applicant became aware, or had reason to become aware, of the last fact giving rise to the action.
Amendment 203 #
2013/0402(COD)
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 2 – introductory part
Article 8 – paragraph 1 – subparagraph 2 – introductory part
The obligation referred to in the first subparagraph shall cease to exisontinue to apply until after the end of the legal proceedings, except in any of the following circumstances:
Amendment 207 #
2013/0402(COD)
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 1
Article 8 – paragraph 2 – subparagraph 1
Member States shall also ensure that the competent judicial authorities may, on a duly reasoned application by a party or on its own initiative, take specific measures necessary to preserve the confidentiality of any trade secret or alleged trade secret used or referred to in the course of the legal proceedings relating to the unlawful acquisition, use or disclosure of a trade secret.
Amendment 211 #
2013/0402(COD)
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 2 – point a
Article 8 – paragraph 2 – subparagraph 2 – point a
(a) to restrict access to any document containing trade secrets submitted by the parties or third parties, in whole or in part, as long as at least one person of each party or their respective lawyers have full access to such document;
Amendment 215 #
2013/0402(COD)
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 3
Article 8 – paragraph 2 – subparagraph 3
Amendment 228 #
2013/0402(COD)
Proposal for a directive
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Member States shall ensure that in deciding on the granting or rejecting of the application and assessing its proportionality, the competent judicial authorities shall be required to take into account all relevant aspects of the case, such as the value of the trade secret, the measures taken to protect the trade secret, the intentional or unintentional conduct of the respondent in acquiring, disclosing or using of the trade secret, the impact of the unlawful disclosure or use of the trade secret, the legitimate interests of the parties and the impact which the granting or rejection of the measures could have on the parties, the legitimate interests of third parties, the public interest and the safeguard of fundamental rights, including freedom of expression and information.
Amendment 244 #
2013/0402(COD)
Proposal for a directive
Article 11 – paragraph 2 – point a
Article 11 – paragraph 2 – point a
Amendment 255 #
2013/0402(COD)
Proposal for a directive
Article 12 – paragraph 1 – subparagraph 1
Article 12 – paragraph 1 – subparagraph 1
Member States shall ensure that, in considering a request for the adoption of the injunctions and corrective measures provided for in Article 11 and assessing their proportionality, the competent judicial authorities take into account all relevant aspects of the case, such as the value of the trade secret, the measures taken to protect the trade secret, the conduct of the infringer in acquiring, disclosing or using of the trade secret, the impact of the unlawful disclosure or use of the trade secret, the legitimate interests of the parties and the impact which the granting or rejection of the measures could have on the parties, the legitimate interests of third parties, the public interest and the safeguard of fundamental rights, including freedom of expression and information.
Amendment 262 #
2013/0402(COD)
Proposal for a directive
Article 12 – paragraph 3 – subparagraph 1 – point a
Article 12 – paragraph 3 – subparagraph 1 – point a
(a) the person concerned originally acquired knowledge of the trade secret in good faith and fulfils the conditions of Article 3(4)at the moment of use or disclosure neither knew nor had reason, under the circumstances, to know that the trade secret was obtained from another person who was using or disclosing the trade secret unlawfully;
Amendment 271 #
2013/0402(COD)
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
1. Member States shall ensure that the competent judicial authorities, on the application of the injured party, order the infringer who knew or ought to have known that he or she was engaging in unlawful acquisition, disclosure or use of a trade secret, to pay the trade secret holder damages commensurate to the actual prejudice suffered. In accordance with their national law and practice, Member States may restrict the liability for damages of employees towards their employers for the unlawful acquisition, use or disclosure of a trade secret of the employer when they act without intent.
Amendment 275 #
2013/0402(COD)
Proposal for a directive
Article 13 – paragraph 2 – subparagraph 1
Article 13 – paragraph 2 – subparagraph 1
When setting the damages, the competent judicial authorities shall take into account all appropriaterelevant factors, such as the negative economic consequences, including lost profits, which the injured party has suffered, any unfair profits made by the infringer and, in appropriate cases, elements other than economic factors, such as the moral prejudice caused to the trade secret holder by the unlawful acquisition, use or disclosure of the trade secret.
Amendment 125 #
2013/0306(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) Asset Backed Commercial Papers (ABCPs) should be considered eligible money market instruments to the extent that they respect additional requirements. Due to the fact that during the crisis certain securitisations were particularly unstable, it is necessary to impose maturity limits and quality criteria on the underlying assets. Not all categories of underlying assets should be eligibl and also to ensure that the pool of exposures is sufficiently diversified. Yet not all categories of underlying assets have proved to be unstable, and in particular those bsecause some were more confronted to instability than othersuritizations where the underlying assets were associated with supporting the working capital of manufacturers and the sales of real economy goods and services. These securitizations have performed well and should be eligible. For this reason the underlying assets should be exclusively composed of short- term and liquid debt instruments that have been issued by corporates in the course of their business activity, such as trade receivables. Instruments such as auto loans and leases, equipment leases, consumer loans, residential mortgage loans, credit card receivables or any other type of instrument linked to the acquisition or financing of services or goods by consumers should not be eligible. ESMAundergo a thorough examination. ESMA, in close cooperation with the EBA, should be entrusted with drafting regulatory technical standards to be submitted for endorsement by the Commission with regard to the conditions and circumstances under which the underlying exposure or pool of exposures is considered to exclusively consist of corporate debt and the conditions and, whether it is sufficiently diversified, as well as the numerical thresholds determining when corporate debt is of high credit quality and liquid. In order to assess the eligibility of certain instruments and their underlying assets, ESMA shall develop, in close cooperation with EBA, a set of criteria to define "high quality securitization". These criteria should take into consideration the need for more standardisation and transparency to avoid securitisation of high complexity.
Amendment 138 #
2013/0306(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) The MMF should have a responsibility to invest in high quality eligible assets. Therefore, a MMF should have a prudent and rigorous internalcredit assessment procedure for determining the credit quality of the money market instruments in which it intends to invest. In accordance with Union legislation limiting over-reliance on credit ratings, it is important that MMFs avoid any mechanisticover- reliance on ratings issued by rating agencies when assessing the quality of eligible assets. For this purpose the MMF should establish an internal rating system based on a harmonised rating scale and an internal assessment procedure.
Amendment 142 #
2013/0306(COD)
Proposal for a regulation
Recital 30
Recital 30
(30) For the purpose of avoiding that MMF managers use different assessment criteria for evaluating the credit risk of a money market instrument and thus attribute different risk characteristics to the same instrument, it is essential that managers rely on the same criteria. To this effect the ratingcredit assessment criteria should be precisely defined and harmonized. Examples of internal ratingcredit assessment criteria are quantitative measures on the issuer of the instrument, such as financial ratios, balance sheet dynamics, profitability guidelines, which are evaluated and compared to those of industry peers and groups; qualitative measures on the issuer of the instrument, such as management effectiveness, corporate strategy, which are analysed with a view to determining that the issuer's overall strategy does not impede on its future credit quality. The highest internal ratings should reflect the fact that the creditworthiness of the issuer of the instruments is maintained at all times at the highest possible levels.
Amendment 145 #
2013/0306(COD)
Proposal for a regulation
Recital 31
Recital 31
(31) In order to develop a transparent and coherent internal rating systemcredit assessment procedure, the manager should document the procedures used for the internalcredit assessment. This should ensure that the procedure follows a clear set of rules that can be monitored and that the methodologies employed are communicated upon request to the interested stakeholders.
Amendment 151 #
2013/0306(COD)
Proposal for a regulation
Recital 39
Recital 39
(39) It is important that the risk management of MMFs not be biased by short-term decisions influenced by the possible ratAn effect of the financial crisis has been an over-reliance by investors, UCITS and AIFs on credit rating agencies in assessing of the MMF. Therefore, it is necessary to prohibit a MMF or its manager from requesting that the MMF is rated by a credit rating agency in order to avoid that this external rating is used for marketing purposes. The MMF or its manager should also refrain from using alternative methods for obtaining acredit worthiness of potential investments. In order to improve the quality of the investments made by MMFs, and thereby UCITS and AIFs, and in order to protect investors of those funds, it is appropriate to require MMF managers and investors to avoid relying solely or mechanically on credit ratings of the MMF. Should the MMF be awarded an external rating, either on the own initiative of the credit rating agency or following request by a third party that is independent of the MMF or the manager and does not act on behalf of any of them, the MMF manager should refrain from relying on criteria that would be attached to that external ratingr using them as the only parameter when assessing the risk involved in the investments made by MMFs. The general principle against over-reliance on credit ratings should therefore be integrated into the risk-management processes and systems of MMFs and adapted to their specificities. For ensuring appropriate liquidity management it is necessary that the MMFs establish sound policies and procedures to know their investors. The policies that the manager has to put in place should help understanding the MMF's investor base, to the extent that large redemptions could be anticipated. In order to avoid that the MMF faces sudden massive redemptions, particular attention should be paid to large investors representing a substantial portion of the MMF's assets, as with one investor representing more than the proportion of daily maturing assets. In this case the MMF should increase its proportion of daily maturing assets to the proportion of that investor. The manager should whenever possible look at the identity of the investors, even if they are represented by nominee accounts, portals or any other indirect buyer. In order to specify further the general principle against over- reliance on credit ratings, as introduced in this Regulation, ESMA should develop draft regulatory technical standards to ensure that MMF managers and investors consult other sources, such as internal assessment results, and do not rely solely on credit ratings when assessing the creditworthiness of the assets held. It is appropriate in this regard for ESMA to develop draft regulatory technical standards in respect of the general provisions regarding risk-management processes and systems employed by MMF managers and investors. The Commission should adopt those draft regulatory technical standards in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
Amendment 187 #
2013/0306(COD)
Proposal for a regulation
Recital 46
Recital 46
Amendment 219 #
2013/0306(COD)
Proposal for a regulation
Recital 54
Recital 54
(54) It is essential to carry out a review of this Regulation in order to assess the appropriateness of exempting certain CNAV MMFs that concentrate their investment portfolios on debt issued by the Member States from the requirement to establish a capital buffer that amounts to at least 3 % of the total value of the CNAV MMF's assets. Therefore, during the three years after the entry into force of this Regulation,During the three years after the entry into force of this Regulation, it is essential that the Commission should analyses the experience acquired in applying this Regulation and the impacts on the different economic aspects attached to the MMFs. The debt issued or guaranteed by the Member States represents a distinct category of investment displaying specific credit and liquidity traits. In addition, sovereign debt plays a vital role in financing the Member States. The Commission should evaluate the evolution of the market for sovereign debt issued or guaranteed by the Member States and the possibility to create a special framework for MMF that concentrate their investment policy on that type of debtis review should focus on the effect on the real economy and financial stability of the changes required by this Regulation.
Amendment 236 #
2013/0306(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 8
Article 2 – paragraph 1 – point 8
(8) ‘corporate debt’ means debt instruments issued by an undertakings which is effectively engaged in producing or trading inand/or financing the manufacturing, trading or providing of goods orand non- financial services to the market. For the purpose of this definition, it should be understood, that debt instrument such as trade receivables, auto loans and leases, equipment loans and leases, SME loans of such undertakings are eligible provided they otherwise comply with the conditions set out in this Regulation;
Amendment 362 #
2013/0306(COD)
Proposal for a regulation
Article 14 – paragraph 1 – introductory part
Article 14 – paragraph 1 – introductory part
1. A MMF shall invest no more than 510% of its assets in any of the following:
Amendment 378 #
2013/0306(COD)
Proposal for a regulation
Article 14 – paragraph 5 – introductory part
Article 14 – paragraph 5 – introductory part
5. Notwithstanding the individual limits laid down in paragraphs 1 and 3, a MMF shall not combine, where this would lead to investment of more than 105% of its assets in a single body, any of the following:.
Amendment 407 #
2013/0306(COD)
Proposal for a regulation
Article 16 – paragraph 3 – point c
Article 16 – paragraph 3 – point c
(c) a manager of a MMF shall monitor its assignments of internal ratingsinternal assessment procedure on an ongoing basis and review all assignments of internal rating at least annuallycredit assessments every 6 months. That manager shall review theconsider its internal assignessment every time there is a material change that could have an impact on an internal credit ratingthe credit assessment. The manager shall establish internal arrangements to monitor the impact on its internal credit ratingsassessment of changes in macroeconomic, financial market or issuer specific conditions;
Amendment 439 #
2013/0306(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point d
Article 21 – paragraph 1 – point d
(d) at least 20% of its assets shall be comprised of up to weekly maturing assets. A short-term MMF shall not acquire any asset other than a weekly maturing asset when such acquisition would result in the short-term MMF investing less than 20% of its portfolio in weekly maturing assets.
Amendment 456 #
2013/0306(COD)
Proposal for a regulation
Article 22 – paragraph 1 – point d
Article 22 – paragraph 1 – point d
(d) at least 2015% of its assets shall be comprised of up to weekly maturing assets. A standard MMF shall not acquire any asset other than a weekly maturing asset when such acquisition would result in the standard MMF investing less than 2015% of its portfolio in weekly maturing assets.
Amendment 475 #
2013/0306(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
The MMF or the manager of the MMF shall not solicit or finance a credit rating agency for rating the MMFrisk management of MMF may not be affected by short-term decisions influenced by the possible rating of the MMF. Where a MMF seeks an external rating, this shall be subject to, and carried out in accordance with, the requirements of the national competent authority of the credit rating agency. A MMF manager shall not rely on the criteria attached to the external credit rating.
Amendment 560 #
2013/0306(COD)
Proposal for a regulation
Article 29
Article 29
Additional requirements for CNAV 1. A MMF shall not use the amortised cost method for valuation, or advertise a constant NAV per unit or share, or round the constant NAV per unit or share to the nearest percentage point or its equivalent when the NAV is published in a currency unit unless it has been explicitly authorised as a CNAV MMF. 2. A CNAV MMF shall satisfy all the following additional requirements: (a) it has established a NAV buffer in accordance with the requirements in Article 30; (b) the competent authority of the CNAV MMF is satisfied with a detailed plan by the CNAV MMF specifying the modalities of the use of the buffer in accordance with Article 31; (c) the competent authority of the CNAV MMF is satisfied with the CNAV MMF's arrangements to replenish the buffer and with the financial strength of the entity expected to fund the replenishment; (d) the rules or instruments of incorporation of the CNAV MMF provide clear procedures for the conversion of the CNAV MMF into a MMF that is not allowed to use the amortised cost accounting or the rounding methods; (e) the CNAV MMF and its manager have clear and transparent governance structures that unambiguously identify and assign responsibilities for the different governance levels; (f) the CNAV MMF has established clear and effective communication tools towards investors that ensure prompt information in relation to any use or replenishment of the NAV buffer and the conversion of the CNAV MMF; (g) the rules or instruments of incorporation of the CNAV MMF state clearly that the CNAV MMF cannot receive external support other than through the NAV buffer.rticle 29 deleted MMFs
Amendment 606 #
2013/0306(COD)
Proposal for a regulation
Article 29 a (new)
Article 29 a (new)
Article 29 a A CNAV MMF shall have in place redemption gate and/or fee provisions. The CNAV MMF board or management company shall decide whether to implement redemption gates and/or fees once a trigger is breached. The redemption fee should be set to ensure that remaining shareholders do not suffer the liquidity costs of redeeming shareholders. If the redemption gate and/or fee have not repaired the CNAV MMF within 30 days, the CNAV MMF shall convert to a VNAV MMF or be liquidated. ESMA shall determine the nature of the trigger for redemption gates and/or fees and the calculation of the redemption fee.
Amendment 611 #
Amendment 639 #
2013/0306(COD)
Proposal for a regulation
Article 31
Article 31
Amendment 655 #
2013/0306(COD)
Proposal for a regulation
Article 33
Article 33
Amendment 667 #
2013/0306(COD)
Proposal for a regulation
Article 34
Article 34
Amendment 738 #
2013/0306(COD)
Proposal for a regulation
Article 38 – paragraph 2 – subparagraph 1 – point c
Article 38 – paragraph 2 – subparagraph 1 – point c
Amendment 768 #
2013/0306(COD)
Proposal for a regulation
Article 43 – paragraph 3
Article 43 – paragraph 3
Amendment 793 #
2013/0306(COD)
Proposal for a regulation
Article 45 – paragraph 1 – introductory part
Article 45 – paragraph 1 – introductory part
By three years after the entry into force of this Regulation, the Commission shall review the adequacy of this Regulation from a prudential and economic point of view. In particular the review shall consider the operation of the CNAV buffer and the operation of the CNAV buffer to those CNAV MMFs that, in future, might concentrate their portfolios on debt issued or guaranteed by the Member States. The review shall:
Amendment 799 #
2013/0306(COD)
Proposal for a regulation
Article 45 – paragraph 1 – point e a (new)
Article 45 – paragraph 1 – point e a (new)
(ea) Analyse the impact on the real economy and financial stability of the changes required by this Regulation.
Amendment 12 #
2013/0303(COD)
Proposal for a regulation
Article 1
Article 1
Regulation (EC) No 718/1999
Article 8 – indent 2
Article 8 – indent 2
– organise vocational training or retraining schemes for crew members leaving the industry and provide appropriate information about those schemes,
Amendment 14 #
2013/0303(COD)
Proposal for a regulation
Article 1
Article 1
Regulation (EC) No 718/1999
Article 8 – indent 4
Article 8 – indent 4
– encourage owner-inland waterway transport operators to join trade associations and strengthen the organisations representing inland waterway transport at Union level,
Amendment 15 #
2013/0303(COD)
Proposal for a regulation
Article 1
Article 1
Regulation (EC) No 718/1999
Article 8 – indent 5
Article 8 – indent 5
– encourage adaptation of vessels to technical progress in order to improve working conditions and health protection and promote safety,
Amendment 66 #
2013/0214(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) While individualGiven that investors may be interested in investing in an ELTIF, and the illiquid nature of most investments in long-term projects precludes an ELTIF from offering regulafact that investors should be given the right incentives to invest in them, an ELTIF should be able to offer redemption rights to its investors. The commitment of the individual investor to an investment in such assets is by its nature made to the full term of theELTIF manager should be given the discretion to decide whether to establish ELTIFs with or without redemption rights according to the underlying investor base and the ELTIFs' investment strategy. ELTIFs should, consequently, be structured so as not to offer, where applicable under the redemption policy regime, regular redemptions before the end of life of the ELTIF. The rules or instruments of incorporation of ELTIF shall disclose the redemption rights policy and its main features. A report, three years after the adoption of this Regulation, shall investigate whether this rule will have achieved the expected results in terms of ELTIF distribution or whether the introduction, in a limited number of cases, of the possibility, for some individual retail investors, to redeem their units or shares before the end of the ELTIF, may contribute to increase the distribution of ELTIF among the individual retail investors.
Amendment 74 #
2013/0214(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) Long-term asset classes within the meaning of this Regulation should comprise non-listed undertakings that issue equity or debt instruments for which there is no readily identifiable buyer. They should also comprise listed undertakings of a maximum capitalization of 1 billion EUR. This Regulation should also covers real assets that require significant up-front capital expenditure.
Amendment 82 #
2013/0214(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) In order to ensure that ELTIFs target long-term investments, rules on the portfolio of ELTIFs should require a clear identification of the categories of assets that should be eligible for investment by ELTIFs and of the conditions under which they should be eligible. An ELTIF should invest at least 70% of its capital in eligible investment assets. To ensure the integrity of ELTIFs it is also desirable to prohibit an ELTIF from engaging in certain financial transactions that might endanger its investment strategy and objectives by raising additional risks different to those that might be expected for a fund targeting long-term investments. In order to ensure a clear focus on long term investments, as may be useful for retail investors unfamiliar with less conventional investment strategies, an ELTIF should not be allowed to invest in financial derivative instruments other than for the purpose of hedging the duration and currency risk of the other asserisks inherent to its own investments. Given the liquid nature of commodities and financial derivative instruments that give an indirect exposure to them, investments in commodities do not require a long-term investor commitment and therefore should be excluded. This rationale does not apply to investments in infrastructure or companies related to commodities or whose performance is linked indirectly to the performance of commodities, such as farms in the case of agricultural commodities or power plants in the case of energy commodities. Moreover, in the case of loans granted by the ELTIFs and which are eligible assets, it should be clear that they are not considered as loans under the CRD/CRR definitions.
Amendment 87 #
2013/0214(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) The definition of what constitutes a long-term investment is broad. Without necessarily requiring long-term holding periods for the ELTIF manager, eligible investment assets are generally illiquid, require commitments for a certain period of time, and have an economic profile of a long-term nature. Eligible investment assets are non-transferable securities and therefore do not have access to the liquidity of secondary markets. They often require fixed term commitments which restrict their marketability. The economic cycle of the investment sought by ELTIFs is essentially of a long-term nature due to the high capital commitments and the length of time required to produce returns. As a result such assets do not suit investments with redemption rights.
Amendment 97 #
2013/0214(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) In order to provide investors with the assurance that ELTIFs contribute directly to the development of long-term investments, ELTIFs should be limited to investments in undertakings that have not been listed or listed entities with a maximum capitalization of 1 billion EUR. Therefore qualifying portfolio undertakings should not be listed on regulated markets. Qualifying portfolio undertakings include infrastructure projects, investment in unlisted companies seeking growth and investments in real estate or other real assets that could be suitable for long term investment purposes.
Amendment 100 #
2013/0214(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) Unlisted undertakings and listed with a maximum capitalisation of 1 billion EUR can face difficulties accessing capital markets and financing further growth and expansion. Private financing through equity stakes or loans are typical ways of raising financing. Because such instruments are by their nature long-term investments they require patient capital that ELTIFs can provide.
Amendment 106 #
2013/0214(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) Where the manager holds a stake in a portfolio undertaking, there is a risk that the manager puts its interests ahead of the interests of investors in the fund. To avoid such conflict of interests, the ELTIF should only invest in assets that are unrelated to the manager, unless they invest in units of shares of assets managed by the ELTIF manager that are eligible under this regulation.
Amendment 115 #
2013/0214(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) Notwithstanding the fact that ELTIFs do not offer redemption rights before the end of life of the ELTIF, nothing should prevent an ELTIF from seeking admission of these shares or units to a regulated market as defined in Article 4(14) of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments,10 to a multilateral trading facility as defined in Article 4(15) of Directive 2004/39/EC, or to an organised trading facility as defined in point (…...) of Regulation (…...), thus providing investors with an opportunity to sell their units or shares before the end of life of the ELTIF. The rules or instruments of incorporation of an ELTIF should therefore not prevent units or shares from being admitted to or from being dealt in regulated markets, nor should they prevent investors from freely transferring their shares or units to third parties who wish to purchase those shares or units. __________________ 10However, it should be noted that, according to experiences in national markets to date, trading in secondary markets may work in some markets but in others this option may entail high premiums or important discounts on the units or shares of ELTIFs that are admitted to or dealt on regulated markets, which would prevent, in practice, investors from using this alternative. Therefore, this option is not sufficient to substitute for the option of more regular redemptions. __________________ 10 OJ L 145, 30.4.2004, p.1. OJ L 145, 30.4.2004, p.1.
Amendment 127 #
2013/0214(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 6 a (new)
Article 2 – paragraph 1 – point 6 a (new)
(6a) "Semi-professional investor" means any investor who (a) commits to investing a minimum of EUR 100 000 and (b) states in writing, in a separate document from the contract to be concluded for the commitment to invest, that they are aware of the risks associated with the envisaged commitment or investment;
Amendment 129 #
2013/0214(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 6 b (new)
Article 2 – paragraph 1 – point 6 b (new)
(6b) "Professional ELTIF" means an ELTIF eligible to be marketed only to professional and semi-professional investors;
Amendment 130 #
2013/0214(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 6 c (new)
Article 2 – paragraph 1 – point 6 c (new)
(6c) "Retail ELTIF" means an ELTIF whose investors include retail investors;
Amendment 155 #
2013/0214(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point c
Article 8 – paragraph 2 – point c
(c) entering into securities lending agreements, securities borrowing agreements, and repurchase agreements or any othesimilar agreement that would encumber the assets of the ELTIFs;
Amendment 156 #
2013/0214(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point d
Article 8 – paragraph 2 – point d
(d) using financial derivative instruments, except where the underlying instrument consists of interest rates or currencies and it solely serves the purpose of hedging the duration and exchange risks inherent to other investments of the ELTIF.
Amendment 166 #
2013/0214(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point c
Article 9 – paragraph 1 – point c
(c) loans granted by the ELTIF to a qualifying portfolio undertaking, in line with assets that qualify as an ELTIF;
Amendment 171 #
2013/0214(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point e
Article 9 – paragraph 1 – point e
(e) direct holdings or indirect holdings through a qualified portfolio undertaking of individual real assets that require up- front capital expenditure of at least EUR 10 million or its equivalent in the currency, and at the time, in which the expenditure is incurred.
Amendment 177 #
2013/0214(COD)
Proposal for a regulation
Article 10 – paragraph 1 – point b a (new)
Article 10 – paragraph 1 – point b a (new)
(ba) It is admitted to trading as foreseen in point (b) and have a market capitalization of no more than 1 billion euro.
Amendment 182 #
2013/0214(COD)
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. By way of derogation from paragraph 1(a) of this Article, a qualifying portfolio undertaking may be a financial undertaking or a collective investment undertaking that exclusively finances qualifying portfolio undertakings referred to in paragraph 1 of this Article or real assets referred to in Article 9.
Amendment 190 #
2013/0214(COD)
Proposal for a regulation
Article 12 – paragraph 1 a (new)
Article 12 – paragraph 1 a (new)
1 a. In the case that the rules or instruments of incorporation of ELTIF foresee regular redemption rights, the ELTIF shall maintain at the predefined redemption periods a liquidity reserve taking into account the requirements and conditions for exercise of the redemption rights, commensurate with the management of liquidity for the exercise of redemption rights. ESMA shall develop regulatory technical standards to further specify the structure of the liquidity reserves.
Amendment 207 #
2013/0214(COD)
Proposal for a regulation
Article 12 – paragraph 6 a (new)
Article 12 – paragraph 6 a (new)
6a. The rules or instruments of incorporation of a professional ELTIF may foresee non-application of one or several provisions of paragraphs 2 to 5.
Amendment 208 #
2013/0214(COD)
Proposal for a regulation
Article 12 a (new)
Article 12 a (new)
Article 12 a In circumstance where the ELTIF breaches the diversification requirements as stipulated in Article 12 and the contravention is beyond the control of the ELTIF manager, competent authorities shall provide an appropriate period for the manager to take such measures as are necessary to rectify the position.
Amendment 217 #
2013/0214(COD)
Proposal for a regulation
Article 15 – paragraph 2 a (new)
Article 15 – paragraph 2 a (new)
2a. When the ELTIF is structured with a capital drawdown mechanism, where proceeds can be drawn down from investors in a number of instalments over time, the limits and restrictions detailed in this Chapter II shall be determined based on the aggregate commitments made to the ELTIF by investors rather than the ELTIF's current net asset value.
Amendment 219 #
2013/0214(COD)
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 1
Article 16 – paragraph 1 – subparagraph 1
Investors shall not be able to ask for redemption of their units or shares before the end of life of the ELTIF. R if this is foreseen in the rules or instruments of incorporation of the ELTIF and according to the particular requirements disclosed in them. If no redemption rights are foreseen in the rules or instruments of incorporation of the ELTIF, redemption to investors shall be possible as of the day following the date defining the end of life of the ELTIF.
Amendment 222 #
2013/0214(COD)
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 1 a (new)
Article 16 – paragraph 1 – subparagraph 1 a (new)
The rules or instruments of incorporation of the ELTIF shall disclose all the requirements and conditions for the exercise of the redemption rights such as possible initial lock-up period, notification requirements, notification periods, the frequency of the exercise of the redemption rights, the methods of the evaluation of ELTIF units, possibility for restrictions as to the amount of withdrawals from the fund.
Amendment 223 #
2013/0214(COD)
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 1 b (new)
Article 16 – paragraph 1 – subparagraph 1 b (new)
ESMA shall develop draft regulatory technical standards to further specify the conditions and requirements of the redemption policy structures of ELTIFs, to achieve clarity and consistency across the EU.
Amendment 225 #
2013/0214(COD)
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 2
Article 16 – paragraph 1 – subparagraph 2
The end of life of the ELTIF shall be clearlELTIF rules or instruments of incorporation and disclosed to investors may indicated as a specific date in the ELTIF rules or instruments of incorporation and discloas the end of life of the ELTIF as well as the right for early intervention or temporary extension of the life of the ELTIF and the conditions to exercised to investorshis right. In the case that no specific date is indicated as the end of life of the ELTIF, the ELTIF life shall be non-limited.
Amendment 227 #
2013/0214(COD)
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 3
Article 16 – paragraph 1 – subparagraph 3
The ELTIF rules or instruments of incorporation and disclosures to investors shall lay down the procedures for redemption and disposal of assets and state clearly that redemption to investors shall commence on the day following the date defining the end of life of the ELTIF.
Amendment 233 #
2013/0214(COD)
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. The life of the ELTIF shall be sufficient in length to coverIn selecting investments, the ELTIF shall take account of the life- cycle of each of the individual assets of the ELTIF,s of the relevant assets measured according to the illiquidity profile and economic life-cycle of the asset, and the stated investment objective of the ELTIF.
Amendment 239 #
2013/0214(COD)
Proposal for a regulation
Article 19 – paragraph 2 – introductory part
Article 19 – paragraph 2 – introductory part
2. The schedule referred to in paragraph 1 shall be at least annually reviewed and shall include:
Amendment 240 #
Amendment 241 #
2013/0214(COD)
Proposal for a regulation
Article 20 – paragraph 1 – introductory part
Article 20 – paragraph 1 – introductory part
1. An ELTIF may regularly distribute to investors the incomeproceeds generated by the assets contained in the portfolio. This incomeproceeds shall be composed of:
Amendment 242 #
2013/0214(COD)
Proposal for a regulation
Article 20 – paragraph 1 – point a
Article 20 – paragraph 1 – point a
(a) any incomeproceeds that the assets are regularly producing;
Amendment 245 #
2013/0214(COD)
Proposal for a regulation
Article 20 – paragraph 1 – point b
Article 20 – paragraph 1 – point b
(b) the capital appreciation realized after the disposal of an asset, but excluding the original capital commitments made.
Amendment 247 #
2013/0214(COD)
Proposal for a regulation
Article 20 – paragraph 2
Article 20 – paragraph 2
2. The incomeproceeds shall not be distributed to the extent that it is required for future commitments of the ELTIF.
Amendment 251 #
2013/0214(COD)
Proposal for a regulation
Article 21 – paragraph 4 – subparagraph 2 – point b
Article 21 – paragraph 4 – subparagraph 2 – point b
(b) inform investors about the end of life of the ELTIFwhere applicable according to Article 16, paragraph 1 inform investors about the end of life of the ELTIF and any right of temporary expansion or any right of intervention of the life of the ELTIF and the specific conditions foreseen;
Amendment 255 #
2013/0214(COD)
Proposal for a regulation
Article 21 – paragraph 4 – subparagraph 2 – point d
Article 21 – paragraph 4 – subparagraph 2 – point d
(d) state that investors shall have no right to redeem their investment until the end of the lifee rights of investors to redeem their investment according to the rules or instruments of incorporation of the ELTIF;
Amendment 257 #
2013/0214(COD)
Proposal for a regulation
Article 21 – paragraph 4 – subparagraph 2 – point f a (new)
Article 21 – paragraph 4 – subparagraph 2 – point f a (new)
(fa) In the case of a professional ELTIF state any deviation from the provisions of Article 12 on portfolio composition
Amendment 260 #
2013/0214(COD)
Proposal for a regulation
Article 21 – paragraph 4 a (new)
Article 21 – paragraph 4 a (new)
4a. The prospectus for professional ELTIFs shall contain the information required under article 23 of the directive 2011/61/EU of the European Parliament and the Council
Amendment 263 #
2013/0214(COD)
Proposal for a regulation
Article 22 – paragraph 1 – point e
Article 22 – paragraph 1 – point e
(e) other costs, including administrative, regulatory, custodial,depositary, custodial, professional service and audit costs.
Amendment 265 #
2013/0214(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. TIn the case that the rules or instruments of incorporation of an ELTIF foresee redemption rights, the manager of anthe ELTIF shall, in each Member State where it intends to market units or shares of that ELTIF, put in place facilities available for making subscriptions, making payments to unit- or shareholders, repurchasing or redeeming units or shares and making available the information which the ELTIF and its managers are required to provide.
Amendment 267 #
2013/0214(COD)
Proposal for a regulation
Article 23 – paragraph 2 a (new)
Article 23 – paragraph 2 a (new)
2a. For professional ELTIFs, the provision of paragraph 1 of this article shall not apply
Amendment 269 #
2013/0214(COD)
Proposal for a regulation
Article 24 – paragraph 1 – point g
Article 24 – paragraph 1 – point g
(g) the ELTIF is notmay be structured as a partnership if this does not require additional commitments for the investor apart from the original capital commitment;
Amendment 271 #
2013/0214(COD)
Proposal for a regulation
Article 24 – paragraph 1 – point h
Article 24 – paragraph 1 – point h
(h) retail investors may, during the subscription period and at least two weeks after subscription of units or shares of the ELTIF, cancel their subscription and have the money returned without penalty.
Amendment 287 #
2013/0214(COD)
Proposal for a regulation
Article 30 – paragraph 1 – introductory part
Article 30 – paragraph 1 – introductory part
Amendment 290 #
2013/0214(COD)
Proposal for a regulation
Article 30 – paragraph 1 – point a
Article 30 – paragraph 1 – point a
(a) the impact of the provision in Article 16(1) that excludes investors from redeeming their units or shares before the end of life of the ELTIF. The review, taking into account ELTIF's distribution to different investor categories, shall also assess whether exempting a limited number of individual retail investors from such a rule would have the effect of increasing demand for ELTIF amongst retail investors;
Amendment 293 #
2013/0214(COD)
Proposal for a regulation
Article 30 – paragraph 1 – point b
Article 30 – paragraph 1 – point b
(b) the impact on asset diversification of the application of the minimum threshold of 70% of eligible investment assets laid down in Article 12(1), in particular to assess whether increased measures on liquidity would be necessary should a limited number of individual retail investors be exempted from the prohibition on redeeming their units before the end of life of the ELTIF;
Amendment 14 #
2013/0166(COD)
Proposal for a decision
Article 1 – paragraph 1
Article 1 – paragraph 1
Member States shall deploy no later than 1 October 2015 the necessary eCall PSAP infrastructure required for the proper receipt and handling of all eCalls, if necessary purged of non-emergency and false calls, on their territory, in accordance with the specifications laid down by Delegated Regulation (EU) No 305/2013, in order to ensure the compatibility, interoperability and continuity of the interoperable EU- wide eCall service. This is without prejudice to the right of each Member State to organise its emergency services in the way most cost effective and appropriate to its needs, including the possibility to filter calls that are not emergency calls and may not be handled by eCall PSAPs, in particular in the case of manually triggered and false eCalls.
Amendment 48 #
2013/0165(COD)
Proposal for a regulation
Article 5 – paragraph 6 a (new)
Article 5 – paragraph 6 a (new)
6a. As from the adoption of this Regulation and if appropriate, the Commission shall start working on the technical requirements for an interoperable, standardised, secure and open-access platform, on which the eCall in-vehicle system may be based, for vehicle repair and maintenance purposes and for future in-vehicle applications or services.
Amendment 118 #
2013/0157(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) The self-provision of service which entails shipping companies or providers of port services to employ staff of their own choice and to provide themselves port services is regulated in a number of Member States for safety or social reasons. The stakeholders consulted by the Commission when preparing its proposal highlighted that imposing a generalised allowance of the self-provision of service at Union level would require additional rules on safety and social issues in order to avoid possible negative impacts in these areas. It appearis therefore not appropriate at this stage not to regulate this issue at Union level and to leave iit should, for the time being, be left to the Member States to regulate the self- provision of port services or not. Therefore, this Regulation should only cover the provision of port services for remuneration.
Amendment 122 #
2013/0157(COD)
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) This Regulation does not impose a specific port management model to the managing bodies of ports. Provided that rules relating to market access and financial transparency are respected, existing port management models established at national level in the Member States can be maintained.
Amendment 129 #
2013/0157(COD)
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5a) In accordance with Protocol 26 of the Treaty on the Functioning of the European Union the provisions of this Regulation should not affect in any way the competence of Member States to provide, commission and organise the activities or services mentioned in this regulation as non-economic services of general interest.
Amendment 132 #
2013/0157(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) The self-provision of service which entails shipping companies or providers of port services to employ staff of their own choice and to provide themselves port services is regulated in a number of Member States for safety or social reasons. The stakeholders consulted by the Commission when preparing its proposal highlighted that imposing a generalised allowance of the self-provision of service at Union level would require additional rules on safety and social issues in order to avoid possible negative impacts in these areas. It appearis therefore not appropriate at this stage not to regulate this issue at Union level and to leave iit should, for the time being, be left to the Member States to regulate the self- provision of port services or not. Therefore, this Regulation should only cover the provision of port services for remuneration.
Amendment 138 #
2013/0157(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) In the interest of efficient, safe and environmentally sound port management, the managing body of the port should be able to require that port service providers can demonstrate that they meet minimum requirements to perform the service in an appropriate way. These minimum requirements should be limited to a clearly defined set of conditions concerning the professional qualifications of the operators, including in terms of training, and the equipment required and the availability of the service insofar as these requirements are transparent, non- discriminatory, objective and relevant for the provision of the port service.
Amendment 150 #
2013/0157(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) Member States should retain the power to ensure an adequate level of social protection for the staff of undertaking providing port services. This Regulation shall not affect the application of the social and labour rules of the Member States, provided that these rules are in line with the EU Treaty rules. In cases of limitation of the number of port service providers, where the conclusion of a port service contract may entail a change of port service operator, it should be possible for the competent authorities to ask the chosen service operator to apply the provisions of Council Directive 2001/23/EC on the approximation of the laws of the Member States relating to the safeguarding of employees' rights in the event of transfers of undertakings, businesses or parts of undertakings or businesses11 . __________________ 11 OJ L 82, 22.3.2001, p. 16.
Amendment 164 #
2013/0157(COD)
Proposal for a regulation
Recital 22 a (new)
Recital 22 a (new)
(22 a) Due to the lack of clear State aid guidelines for ports, the port sector suffers from legal uncertainty as they now depend on a case by case approach. In order to create more transparency, the Commission should, after consulting all stakeholders including Member States and port authorities, come forward with clear guidelines on State aid to ports.
Amendment 169 #
2013/0157(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) Member States should retain the power to ensure an adequate level of social protection for the staff of undertaking providing port services. This Regulation shall not affect the application of the social and labour rules of the Member States, provided that these rules are in line with the EU Treaty rules. In cases of limitation of the number of port service providers, where the conclusion of a port service contract may entail a change of port service operator, it should be possible for the competent authorities to ask the chosen service operator to apply the provisions of Council Directive 2001/23/EC on the approximation of the laws of the Member States relating to the safeguarding of employees' rights in the event of transfers of undertakings, businesses or parts of undertakings or businesses11 . __________________ 11 OJ L 82, 22.3.2001, p. 16. OJ L 82, 22.3.2001, p. 16.
Amendment 174 #
2013/0157(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) Port service charges applied by providers of port services which are not designated in accordance with an open, transparent and non-discriminatory procedure entail a higher risk of price abuse given their monopolistic or oligopolistic situation and the fact that their market cannot be contested. The same is true for charges levied by internal operators in the meaning of this Regulation. For those services, in the absence of fair market mechanisms, arrangements should be established to ensure that the charges they levy reflect the normal conditions of the relevant market and archarges set by providers of port services which are not exposed to effective competition within the meaning of Article 9 (1) and 6(1), should not be disproportionate to the economic value of the services provided and should be set in a transparent and non- discriminatory way.
Amendment 181 #
2013/0157(COD)
Proposal for a regulation
Recital 25
Recital 25
(25) The variation of port infrastructure charges should be allowed in order tomanaging body of the port can vary the port infrastructure charges as a part of its commercial strategy. Port infrastructure charges may vary in order to, for example, promote short sea shipping and to attract waterborne vessels having an environmental performance or energy and carbon efficiency of the transport operations, notably the off-shore or on- shore maritime transport operations, that is better than average. This shcould help to contribute to the environmental and climate change policies and the sustainable development of the port and its surroundings notably by contributing to reducing the environmental footprint of the waterborne vessels calling and staying in the port.
Amendment 183 #
2013/0157(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) Adequate facilities should be in place toIt should be ensured that the users of the ports which are requested to pay a port infrastructure charge and/or a port service charge are regularly consulted when the port infrastructure charge and the port service charge are defined and changed. The managing bodies of the ports should also regularly consult other stakeholders on key issues related to the sound development of the port, its performance and its capacity to attract and generate economic activities such as the coordination of port services within the port area and the efficiency of the connections with the hinterland and of the administrative procedures in ports.
Amendment 185 #
2013/0157(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) In many ports, the market access for providers of cargo-handling and terminal passenger services is granted by means of public concession contractscontracts or agreements having as their object the right of such providers to exploit parts of the public domains or resources under private or public law. This type of contracts willcan be covered by the Directive ..../…...[concessions]. Consequently, Chapter II of this Regulation should not apply to the provision of cargo-handling and passenger services, but Member States should remain free to decide to apply nevertheless the rules of this Chapter to these two services. For other types of contracts used by public authorities for granting market access to cargo handling and terminal passenger services, the Court of Justice of the European Union has confirmed that the competent authorities are bound by the principles of transparency and non- discrimination when concluding these contracts. These principles are fully applicable as regards the provision of any port service.
Amendment 188 #
2013/0157(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) In many ports, the market access for providers of cargo-handling and terminal passenger services is granted by means of public concession contracts. This type of contracts will be covered by the Directive ..../…[concessions]. Consequently, Chapter II of this Regulation should not apply to the provision of cargo- handling and passenger services, but Member States should remain free to decide to apply nevertheless the rules of this Chapter to these two services. For other types ofIn any case, the Court of Justice of the European Union has confirmed that in contracts used by public authorities for granting market access to cargo handling and terminal passenger services, the Court of Justice of the European Union has confirmed that the competent authorities are bound by the principles of transparency and non-discrimination when concluding these contracts. These principles are fully applicable as regards the provision of any port service.
Amendment 201 #
2013/0157(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) Port service charges applied by providers of port services which are not designated in accordance with an open, transparent and non-discriminatory procedure entail a higher risk of price abuse given their monopolistic or oligopolistic situation and the fact that their market cannot be contested. The same is true for charges levied by internal operators in the meaning of this Regulation. For those services, in the absence of fair market mechanisms, arrangements should be established to ensure thcharges set by providers of port services which are not exposed to effective competition within the meaning of Article 9(1) and Article 6(1), should not be disproportionate the charges they levy reflect the normal conditions of the relevant market and aro the economic value of the services provided and should be set in a transparent and non-discriminatory way.
Amendment 205 #
2013/0157(COD)
Proposal for a regulation
Recital 31 a (new)
Recital 31 a (new)
(31 a) Port labour relations have a large influence on the working of the ports. Therefore the sectoral Social Dialogue Committee for ports gives the social partners a framework to establish results regarding work organisation and working conditions, such as health and safety, training and qualifications, EU policy on low sulphur fuels, attractiveness of the sector to young workers and female workers. The Commission should facilitate the negotiations and monitor them closely. If no clear agreement is reached by 2016, the Commission should, if appropriate, come forward with a legal proposal.
Amendment 207 #
2013/0157(COD)
Proposal for a regulation
Recital 25
Recital 25
(25) The variation of port infrastructure charges should be allowed in order tomanaging body of the port can vary the port infrastructure charges as a part of its commercial strategy. Port infrastructure charges may vary in order to, for example, promote short sea shipping and to attract waterborne vessels having an environmental performance or energy and carbon efficiency of the transport operations, notably the off-shore or on- shore maritime transport operations, that is better than average. This shcould help to contribute to the environmental and climate change policies and the sustainable development of the port and its surroundings notably by contributing to reducing the environmental footprint of the waterborne vessels calling and staying in the port.
Amendment 209 #
2013/0157(COD)
Proposal for a regulation
Recital 31 b (new)
Recital 31 b (new)
(31 b) This Regulation does not impose a specific port management model prescribing a specific status, role or mission for managing bodies of the port. Insofar as the rules on market access and financial transparency are respected, Member States' port management models laid down in national legislation can be maintained. This includes models delegating port management rights and responsibilities to public entities safeguarding the general port interest.
Amendment 209 #
2013/0157(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) Adequate facilities should be in place toIt should be ensured that the users of the ports which are requested to pay a port infrastructure charge and/or a port service charge are regularly consulted when the port infrastructure charge and the port service charge are defined and changed. The managing bodies of the ports should also regularly consult other stakeholders on key issues related to the sound development of the port, its performance and its capacity to attract and generate economic activities such as the coordination of port services within the port area and the efficiency of the connections with the hinterland and of the administrative procedures in ports.
Amendment 218 #
2013/0157(COD)
Proposal for a regulation
Recital 28 a (new)
Recital 28 a (new)
(28a) Port labour relations have a large influence on the working of the ports. Therefore the sectoral Social Dialogue Committee for ports gives the social partners a framework to establish results regarding work organisation and working conditions, such as health and safety, training and qualifications, EU policy on low sulphur fuels, attractiveness of the sector to young workers and female workers.
Amendment 235 #
2013/0157(COD)
Proposal for a regulation
Article 1 – paragraph 4 a (new)
Article 1 – paragraph 4 a (new)
4 a. Member States may also apply this Regulation to other port services. In this case, they shall notify the Commission of their decision.
Amendment 271 #
2013/0157(COD)
Proposal for a regulation
Article 1 – paragraph 4 a (new)
Article 1 – paragraph 4 a (new)
4a. Member States may also apply this Regulation to other port services. In this case, they shall notify the Commission of their decision.
Amendment 289 #
2013/0157(COD)
Proposal for a regulation
Article 2 – point 5
Article 2 – point 5
5. ‘managing body of the port’ means any public or private body which, whether or not in conjunction with other activities, has as its objectivepublic responsibility assigned under national law or instrumentregulations the administration and management of the port infrastructures, port traffic in the seaport in question, the coordination and, where appropriate, the carrying-out, organisation or control of the activities of the operators present in the seaport concerned, and the development of the seaport;
Amendment 291 #
2013/0157(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 6
Article 2 – paragraph 1 – point 6
6. ‘mooring’ means the berthing and un- berthing services required for a waterborne vessel being anchored or otherwise fmooring services in charge of tying and untying operations of a waterborne vessel to the berth, the quayside or a buoy in order to immobilise the vessel, thereby allowing pastsened to the shore in the port or in the waterways access to the portgers and other persons, goods or cargo to be transferred safely on or off the vessel;
Amendment 298 #
2013/0157(COD)
Proposal for a regulation
Article 2 – point 8
Article 2 – point 8
8. ‘pilotage’ means the guidance service of a waterborne vessel by a pilot or a pilotage station in order to allow for a safe entry or exit of the waterborne vessel in the waterways access to the seaport or safe navigation within the port;
Amendment 299 #
2013/0157(COD)
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The managing body of the port shall grant or refuse the right to provide port services on the basis of the minimum requirements established in accordance with Article 4 within onetwo months from receiving a request for the granting of such a right. Any refusal shall be duly justified on the basis of objective, transparent, non- discriminatory and proportionate criteria.
Amendment 300 #
2013/0157(COD)
Proposal for a regulation
Article 2 – point 9
Article 2 – point 9
9. ‘port infrastructure charge’ means a fee collected for the direct or indirect benefit ofcharge levied by the managing body of the port or the competent authority and paid by the operators of waterborne vessels or cargo owners for the use of facilities and servicesbenefitting directly or indirectly of for the use of infrastructures, facilities and services managed autonomously by the managing body of the port that allow vessels entry and exit in and out of the port, including the waterways giving access to those ports, as well as access to the processing of passengers and cargo, but excluding land lease rates and charges having equivalent effect;
Amendment 308 #
2013/0157(COD)
Proposal for a regulation
Article 2 – point 16
Article 2 – point 16
16. ‘seaport’ means an delimited area of land and water made up of such works and equipmen, amongst other things, of infrastructures and facilities, managed autonomously by the managing body of the port so as to permit, principally, the reception of ships, their loading and unloading, the storage of goods, the receipt and delivery of these goods and the embarkation and disembarkation of passengers; and any other infrastructure necessary for transport operators within the port area;
Amendment 311 #
2013/0157(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point b a (new)
Article 6 – paragraph 1 – point b a (new)
(ba) The limitations applied according to paragraph 1 of this Article shall be proportionate to the grounds on which those limitations are put in place;
Amendment 311 #
2013/0157(COD)
Proposal for a regulation
Article 2 – point 17
Article 2 – point 17
17. ‘towage’ means the assistance to a waterborne vessel by means of a tug in order to allow for a safe entry or exit of the seaport or safe navigation within the seaport by providing assistance to the manoeuvring of the waterborne vessel;
Amendment 316 #
2013/0157(COD)
Proposal for a regulation
Article 2 – point 18 a (new)
Article 2 – point 18 a (new)
18a. General infrastructure: all access and defence infrastructure that provides sea or land access to port infrastructure, that benefits a wider region and that does not result in any specific advantage for one or more identifiable port users within a bigger group of port users.
Amendment 335 #
2013/0157(COD)
Proposal for a regulation
Article 3
Article 3
Amendment 351 #
2013/0157(COD)
Proposal for a regulation
Article 4 – paragraph 2 – point d a (new)
Article 4 – paragraph 2 – point d a (new)
(d a) the availability of the service to all users;
Amendment 354 #
2013/0157(COD)
Proposal for a regulation
Article 4 – paragraph 2 – point d b (new)
Article 4 – paragraph 2 – point d b (new)
(d b) the availability of the service without interruption during the day, the night, the week and the year;
Amendment 359 #
2013/0157(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. This Regulation shall not affect the application of the social and labour rules of the Member States, provided these rules are in conformity with the EU Treaty rules.
Amendment 375 #
2013/0157(COD)
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The managing body of the port shall grant or refuse the right to provide port services on the basis of the minimum requirements established in accordance with Article 4 within onetwo months from receiving a request for the granting of such a right. Any refusal shall be duly justified on the basis of objective, transparent, non- discriminatory and proportionate criteria.
Amendment 386 #
2013/0157(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(a) the scarcity or reserved use of land provided that the managing body can demonstrate that the land constitutes an essential port facility to provide the port service anor waterside space provided that the limitation is in accordance with the formal development plan of the portdecisions or plans as agreed by the management body of the port and where appropriate any other public competent authorities according to the national legislation;
Amendment 404 #
2013/0157(COD)
Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 a (new)
Article 6 – paragraph 1 – subparagraph 1 a (new)
The limitations applied according to paragraph 1 of this Article shall be proportionate to the grounds on which those limitations are put in place.
Amendment 417 #
2013/0157(COD)
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. When a managing body of a port or a competent authority provides port services itself or through a legally distinct entity which it directly or indirectly controls, the Member State may entrust the adoption of the decision limitingshall take necessary measures to avoid conflicts of interest. In the absence of such measures, the number of providers of port serviceshall not be less to han authority which is independent from the managing body of the port. If the Member State does not entrust the adoption of the decision limiting the number of providers of port services to such an authority, the number of providers shall not be less than twotwo, unless any of the reasons listed in paragraph 1 justifies a limitation to a single provider.
Amendment 419 #
2013/0157(COD)
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
4. Without prejudice to paragraph 3, port infrastructure charges may vary in accordance with the port's economic strategy and with commercial practices related to frequent users, or in order to promote amongst others a more efficient use of the port infrastructure, short sea shipping or a high environmental performance, energy efficiency or carbon efficiency of transport operations. The criteria used for such a variation shall be relevant, objective, transparent and non-discriminatory and in due respect of the competition rules. The resulting variation shall in particular be available to all relevant port service users on equal termin due respect of the competition and State aid rules.
Amendment 447 #
2013/0157(COD)
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
2. The managing body of the port shall consult on an annual basis prior to the setting of port infrastructure charges the port users' advisory committeethe port users on the structure and level of such charges. The providers of port services as referred to in Article 6 and in Article 9 shall consult on an annual basis prior to the setting of port service charges the port users' advisory committee on the structure and level of such charges. The managing body of the port shall provide adequate facilities for such consultation and shall be informed of the results of the consultation by the providers of port services.
Amendment 470 #
2013/0157(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. Member States shall ensure that aneffective independent supervisory body monitors and supervisesmechanisms are in place to monitor the application of this Regulation and to handle complaints arising from the application of this Regulation in all the seaports covered by this Regulation on the territory of each Member State. To that end, the Member States shall designate one or several independent bodies.
Amendment 508 #
2013/0157(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. This Regulation shall not affect the application of the social and labour rules of the Member States, provided these rules are in conformity with the EU Treaty rules.
Amendment 516 #
2013/0157(COD)
Proposal for a regulation
Article 18 – paragraph 1
Article 18 – paragraph 1
1. The independdifferent supervisory bodies designated pursuant to Article 17 shall exchange information about their work and decision-making principles and practices in order to facilitate a uniform implementation of this Regulation. For this purpose, they shall participate and work together in a network that convenes at regular intervals and at least once a year. The Commission shall participate, coordinate and support the work of the network. The Commission shall support and facilitate the cooperation. The confidentiality of the information that is being exchanged shall be respected.
Amendment 531 #
2013/0157(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
No later than three years after the entry into force of this Regulation, the Commission shall present a report to the European Parliament and the Council on the functioning and effect of this Regulation, accompanied, if appropriate, by relevant proposals. Within two years after the entry into force of this Regulation, the Commission shall present a report to the European Parliament and the Council on the functioning and effect of Article 11 of this Regulation. If appropriate, this report shall be accompanied by relevant proposals. To this end, the Commission will consult all involved parties, including the users.
Amendment 544 #
2013/0157(COD)
Proposal for a regulation
Article 11 b (new)
Article 11 b (new)
Article 11b Pilotage Exemption Certificate 1. When safety conditions allow it, Member States shall ensure that Pilotage Exemption Certificates can be granted for regular maritime lines. The criteria to grant such certificates shall be defined by the Member States after a risk assessment and take into account local conditions. 2. The corresponding requirements shall be transparent, non-discriminatory and not go beyond what is necessary to fulfil the objectives which the Pilot Exemption Certificates pursue.
Amendment 557 #
2013/0157(COD)
Proposal for a regulation
Article 12 – paragraph 3
Article 12 – paragraph 3
3. The public funds referred to in paragraph 1 shall include share capital or quasi-capital funds, non-refundable grants, grants only refundable in certain circumstances, award of loans including overdrafts and advances on capital injections, guarantees given to the managing body of the port by public authorities, dividends paid out and profits retainedthe granting of financial advantages by forgoing profits and recovery of sums due or any other form of public financial support.
Amendment 561 #
2013/0157(COD)
Proposal for a regulation
Article 12 – paragraph 5
Article 12 – paragraph 5
5. The managing body of the port shall make available to the Commission and the competent independent supervisory body, upon request,, or other entity that provides port services on its behalf, shall, in the event of a formal complaint and upon request, make available to the relevant national authority the information referred to in paragraphs 1 and 2 and any additional information that they deem necessary in order to complete a thorough appraisal of the data submitted and to assess compliance with this Regulation. The information shall be transmitted within two months from the date of the request.
Amendment 594 #
2013/0157(COD)
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
4. Without prejudice to paragraph 3, port infrastructure charges may vary in accordance with the port’s economic strategy and with commercial practices related to frequent users, or in order to promote amongst others a more efficient use of the port infrastructure, short sea shipping or a high environmental performance, energy efficiency or carbon efficiency of transport operations. The criteria used for such a variation shall be relevant, objective, transparent and non-discriminatory and in due respect of the competition rules. The resulting variation shall in particular be available to all relevant port service users on equal termin due respect of the competition and state aid rules.
Amendment 625 #
2013/0157(COD)
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
2. The managing body of the port shall consult on an annual basis prior to the setting of port infrastructure charges the port users’ advisory committeethe port users on the structure and level of such charges. The providers of port services as referred to in Article 6 and in Article 9 shall consult on an annual basis prior to the setting of port service charges the port users’ advisory committee on the structure and level of such charges. The managing body of the port shall provide adequate facilities for such consultation and shall be informed of the results of the consultation by the providers of port services.
Amendment 640 #
2013/0157(COD)
Proposal for a regulation
Article 17 – title
Article 17 – title
Amendment 646 #
2013/0157(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. Member States shall ensure that aneffective independent supervisory body monitors and supervisesmechanisms are in place to monitor the application of this Regulation and to handle complaints arising from the application of this Regulation in all the seaports covered by this Regulation on the territory of each Member State. To that end, the Member States shall designate one or several independent bodies.
Amendment 651 #
2013/0157(COD)
Proposal for a regulation
Article 17 – paragraph 2
Article 17 – paragraph 2
2. The independent supervisory body shall be legally distinct from andhandling of complaints shall be carried out in a manner which excludes conflicts of interest and which is functionally independent of any managing body of the port or providers of port services. Member States tshat retain ownership or control of ports or port managing bodies shall ensull ensure that there anis effective structurfunctional separation between the functions rehandling of complating to the supervision and monitoring of this Regulation and the activities associated with that ownership or control. The independent supervisory body shall exercise its powersts on the one hand and the ownership and management of ports, provision of port services and port use on the other hand. The handling of complaints shall be impartially and transparently and withshall duely respect to the right to freely conduct business.
Amendment 654 #
2013/0157(COD)
Proposal for a regulation
Article 17 – paragraph 3
Article 17 – paragraph 3
3. The independent supervisory body shall handle the complaints lodged by any party with a legitimate interest and the disputes brought before it arisMember States shall ensure that port users and other relevant stakeholders are informed of where and how to lodge a complaint, including, an indication of the authorities responsible for the handling inof connection with the application of this Regulationmplaints and relevant national authorities referred to in Articles 12(5), 13(3) and 14(7).
Amendment 662 #
2013/0157(COD)
Proposal for a regulation
Article 17 – paragraph 5
Article 17 – paragraph 5
Amendment 680 #
2013/0157(COD)
Proposal for a regulation
Article 18 – paragraph 1
Article 18 – paragraph 1
1. The independdifferent supervisory bodies designated pursuant to Article 17 shall exchange information about their work and decision-making principles and practices in order to facilitate a uniform implementation of this Regulation. For this purpose, they shall participate and work together in a network that convenes at regular intervals and at least once a year. The Commission shall participate, coordinate and support the work of the network. The Commission shall support and facilitate the cooperation. The confidentiality of the information that is being exchanged shall be respected.
Amendment 700 #
2013/0157(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
No later than three years after the entry into force of this Regulation, the Commission shall present a report to the European Parliament and the Council on the functioning and effect of this Regulation, accompanied, if appropriate, by relevant proposals. Within two years after the entry into force of this Regulation, the Commission shall present a report to the European Parliament and the Council on the functioning and effect of Article 11 of this Regulation. If appropriate, this report shall be accompanied by relevant proposals. To this end, the Commission will consult all involved parties, including the users.
Amendment 135 #
2013/0139(COD)
Proposal for a directive
Recital 9
Recital 9
(9) This Directive applies to payment accounts held by consumers. Consequently, accounts held by businesses, even small or micro enterprises, unless held in a personal capacity, are outside its scope. Furthermore, this Directive does not cover savings accounts, which may have more limited payments functions. Also, this directive does not cover credit cards, which are not central to achieving its objectives of enhancing financial inclusion as well as of the single market.
Amendment 140 #
2013/0139(COD)
Proposal for a directive
Recital 12
Recital 12
(12) Consumers would benefit most from information that is concise and easy to compare between different payment service providers. The tools made available to consumers to compare payment account offers would not have a positive impact if the time invested in going through lengthy lists of fees for different offers outweighed the benefit of choosing the offer that represents the best value. A list of payment services accounting for 80% of the most representative payment services subject to a fee at national level is therefore the best approach to represent the majority of the most representative payment services and take into account the particularity of the services offered in the Member States. Accordingly, fee terminology should only be standardised for the most representative terms and definitions within Member States in order to avoid the risk of excessive information.
Amendment 144 #
2013/0139(COD)
Proposal for a directive
Recital 13
Recital 13
(13) The fee terminology should be determined by national competent authorities, allowing for consideration of the specificities of local markets. To be considered representative, services should be subject to a fee at a minimum of one payment service provider in Member States. In addition, where possible, fee terminology should be standardised at EU levelan EU standardised list of definitions should be elaborated, thus allowing for comparison across the Union. The European Banking Authority (EBA) should establish guidelines to assist Member States to determine the most representative payment services subject to a fee at national level.
Amendment 148 #
2013/0139(COD)
Proposal for a directive
Recital 14
Recital 14
(14) Once national competent authorities have determined a provisional list of the most representative services subject to a fee at national level together with therms and definitions, the Commission should review them to identify, by means of delegated acts, the services that are common to the majority of Member States and propose an EU standardised EU level terms andlist of definitions for them.
Amendment 159 #
2013/0139(COD)
Proposal for a directive
Recital 17
Recital 17
(17) In order to ensure the consistent use of applicable EU level terminology across the Union, Member States should establish an obligation for payment service providers to use the applicable EU level terminology together with the remaining national standardised terminology identified in the provisionalEU standardised list when communicating with consumers, including in the fee information document and the statement of fees. Except for in the fee information document and statement of fees, pPayment service providers may use brand names to denote services.
Amendment 173 #
2013/0139(COD)
Proposal for a directive
Recital 21
Recital 21
(21) Consumers are only incentivised to switch accounts if potential benefits do not outweigh perceived risks and if the process does not entail an excessive administrative and financial burden. The procedure for switching payment accounts to another payment service provider should be clear and quick. The fees, if any, charged by payment service providers in relation to the switching service should be in line with the actual cost incurred by payment service providers. In order to have positive impact on competition, switching should also be facilitated at cross-border level. Given that switching cross-border could be more complex than the switching at national level and may require payment service providers to adapt and refine their internal procedures, longer deadlines for the cross- border switch should be foreseen. The need to maintain different deadlines should be evaluated in the context of the review of the proposed Directive.
Amendment 175 #
2013/0139(COD)
Proposal for a directive
Recital 22
Recital 22
(22) The switching process should be as straightforward as possible for the consumer. Accordingly Member States should ensure that the receiving payment service provider is responsible for initiating and managing the process on behalf of the consumer. The requirements of this Directive relating to the provision of the switching service can be complied with through law, self-regulation or voluntary agreement.
Amendment 183 #
2013/0139(COD)
Proposal for a directive
Recital 27
Recital 27
(27) Consumers who are legally resident in the Union, who can justify a genuine link with the Member State of the Payment Service provider, and who do not hold a payment account in a certain Member State should be in a position to open and use a payment account with basic features in that Member State. In order to ensure the widest possible access to such accounts, cConsumers should have access to them irrespective of their financial circumstances, such as unemployment or personal bankruptcy, and of their place of residence. Consumers should be required to attend in person at an office of the payment service provider in the Member State of their choosing. Member States shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer. Moreover, the right to access a payment account with basic features in any Member State should be granted in conformity with the requirements set out in Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, in particular with regard to customer due diligence procedures.
Amendment 191 #
2013/0139(COD)
Proposal for a directive
Recital 28
Recital 28
(28) Member States should ensure that at least one payment service provider offers a payment account with basic features to consumers. Access should not be overly difficult and should not entail excessive costs for consumers. In this respect, Member States should consider factors such as the location of the designated payment service providers in their territory. In order to minimise the risk for consumers to become financially excluded, Member States should improve financial education, including at school, and combat over- indebtedness. Furthermore, Member States should promote initiatives of payment service providers in order to facilitate the combination of providing payment accounts with basic features and financial education. The requirements of this Directive relating to the provision of basic payment accounts can be complied with through law, self-regulation or voluntary agreement.
Amendment 194 #
2013/0139(COD)
Proposal for a directive
Recital 29
Recital 29
(29) To exercise their right to access a basic payment account, consumers should not already hold a payment account or should have previously been denied access to a regular payment account in the same territory. When it is not possible to use electronic systems to establish whether or not a consumer already holds a payment account, payment service providers should accept a declaration by consumers as a reliable means of verifying that they do not already hold a payment account. They should justify a genuine link with the Member State of the payment service provider. In this respect, the consumer shall provide: i) a declaration of honour that can be used by Payment service providers as a reliable means of verifying that he/she does not already hold a payment account based on a purposive test which should demonstrate a clear need for a payment account with basic features, or; ii) a simple declaration of at least one financial institution in the Member States concerned which demonstrates that in the Member State concerned he/she has been refused a payment account. Non-limitative examples of a genuine link with the Member States are: nationality, place of residence, job related issues, enrolment in an institution that provides education or vocational training, family related issues, or any other factor which could constitute a link with the Member State concerned;
Amendment 202 #
2013/0139(COD)
Proposal for a directive
Recital 32
Recital 32
(32) The payment service provider should refuse to open or should terminate a contract for a payment account with basic features only in specific circumstances, such asfor example in case of non-compliance with the legislation on money laundering and terrorist financing or on the prevention and investigation of crimes or if the consumer hasn't been previously denied access to a payment account. Even in these cases, a refusal can only be justified where the consumer does not comply with the provisions of that legislation and not because the procedure to check compliance with the legislation is too burdensome or costly.
Amendment 208 #
2013/0139(COD)
Proposal for a directive
Recital 36
Recital 36
(36) In order to attain the objectives set out in this Directive, the power to adopt acts in accordance with Article 290 of the Treaty should be delegated to the Commission in respect of identifying the EU standardised terminology at EU levellist of definitions for payment services common to a number of Member States and the related definitions for these terms.
Amendment 227 #
2013/0139(COD)
Proposal for a directive
Article 2 – paragraph 1 – point b a (new)
Article 2 – paragraph 1 – point b a (new)
(ba) ‘payment account with basic features’ means a current account with financial services limited to cash placements, cash withdrawals, direct debit payment transactions, direct debit card, online payments, credit transfers and standing orders;
Amendment 237 #
2013/0139(COD)
Proposal for a directive
Article 2 – paragraph 1 – point m
Article 2 – paragraph 1 – point m
(m) ‘switching’ means, upon a consumer's request, transferring from one payment service provider to another the information about all or some standing orders for credit transfers, recurring direct debits and recurring incoming credit transfers executed on a payment account, with or without transferring the positive account balance from one payment account to the other or closing the former account; only an account with a positive or nil balance can be subject to switching;
Amendment 241 #
2013/0139(COD)
Proposal for a directive
Article 2 – paragraph 1 – point r a (new)
Article 2 – paragraph 1 – point r a (new)
(ra) 'business day' means a day on which the relevant payment service provider of the payer or the payment service provider of the payee involved in the execution of a payment transaction is open for business as required for the execution of a payment transaction, as defined in Article 4 (27) of Directive 2007/64/EC;
Amendment 250 #
2013/0139(COD)
Proposal for a directive
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Member States shall ensure that the competent authorities referred to in Article 20, determine a provisional list of at least 20 payment services accounting for at least 80% of the most representative payment services subject to a fee at national level. The list shall contain terms and definitions for each of the services identified.
Amendment 268 #
2013/0139(COD)
Proposal for a directive
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Commission shall be empowered to adopt delegated acts, in accordance with Article 24, concerning the setting out, on the basis of the provisional lists submitted pursuant to paragraph 3, of an EU standardised terminologylist for those payment services that are common to at least a majority of Member States. The EU standardised terminologylist will include common terms and definitions for the commondefinitions that thus provide explanations for the common services, used at least in a majority of the Member States. This list would make it easier for consumers to compare cross- border the same services.
Amendment 275 #
2013/0139(COD)
Proposal for a directive
Article 3 – paragraph 5
Article 3 – paragraph 5
5. After the publication in the Official Journal of the European Union of the delegated acts referred to in paragraph 4, each Member State shall without delay integratepublish the EU standardised terminology adoptedlist pursuant to paragraph 4 into the provisional list referred to in paragraph 1 and shall publish this list.
Amendment 293 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 2
Article 4 – paragraph 2
2. Where one or more payment services referred to in paragraph 1 is offered as part of a package of financial services, the fee information document shall disclose which of the services referred to in paragraph 1 are included in the package, the fee for the entire package and the fee for any service that is not referred to in paragraph 1.
Amendment 297 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 3 a (new)
Article 4 – paragraph 3 a (new)
3a. It shall be clearly indicated whether the fee information document makes reference to services linked to payment accounts offered within a branch or online.
Amendment 302 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 4
Article 4 – paragraph 4
4. Member States shall ensure that payment service providers make available to consumers a glossary of at least the list of payment services referred to in paragraph 1 and the related definitions.
Amendment 305 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 5
Article 4 – paragraph 5
5. Member States shall establish an obligation for payment service providers to ensure that the glossarylist is drafted in clear, unambiguous and non-technical language.
Amendment 311 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 6
Article 4 – paragraph 6
6. The fee information document and the glossarystandardised list shall be made available free of charge at all times by payment service providers on a durable medium at premises accessible to consumers and shall be made available in electronic form on their websites.
Amendment 319 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 7 a (new)
Article 4 – paragraph 7 a (new)
7a. Payment service providers shall meet the above obligations within twelve months of the publication of the EU standardised list pursuant to Article 3 paragraph 5 and the adoption of the implementation act pursuant to paragraph 7 of this provision.
Amendment 320 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 7 b (new)
Article 4 – paragraph 7 b (new)
7b. Consumer testing of the fee information document shall be conducted before the implementation, to ensure the consumer-friendliness.
Amendment 325 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Member States shall ensure that payment service providers provide the consumer with a statement of all fees incurred on their payment account at least annually. This statement may be forwarded to consumers through communication channels agreed among the parties (i.e. electronically, statement printer, etc.). Payment service providers shall implement the technical measures necessary to meet this obligation within twelve months of the adoption of the act pursuant to paragraph 4 of this article.
Amendment 331 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
2a. Member States shall insure that consumers are informed comprehensively and well in advance in written or electronically when a service provider intends to increase any fees before the annual statement is published.
Amendment 334 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 2 – point a
Article 5 – paragraph 2 – point a
(a) the unit fee charged for each service, the number of times the service was used during the relevant period and the date on which the service was used, or when the consumer bought different services combined in a package the fee charged for the package of services;
Amendment 335 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 2 – point b
Article 5 – paragraph 2 – point b
(b) the total amount of fees incurred for each service provided during the relevant period, or when the consumer bought different services combined in a package the extra cost per service when exceeding the maximum amount of services included in the package and the extra cost per service used that was not included in the package;
Amendment 336 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 2 – point c
Article 5 – paragraph 2 – point c
(c) the total amount of fees incurred for all services provided during the relevant period, or when the consumer bought different services combined in a package the total amount of extra costs when exceeding the maximum amount of services included in the package and the total amount of extra costs of services used that were not included in the package.
Amendment 338 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 2 – point c a (new)
Article 5 – paragraph 2 – point c a (new)
(ca) the total amount of interest earned during the relevant period;
Amendment 341 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 2 – point c b (new)
Article 5 – paragraph 2 – point c b (new)
(cb) the number of days the account was overdrawn and the total amount of interest paid during the relevant period;
Amendment 344 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 2 – point c c (new)
Article 5 – paragraph 2 – point c c (new)
(cc) a pre-notification regarding the fees which shall be charged in the following period;
Amendment 356 #
2013/0139(COD)
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Member States shall ensure that in their contractual and commercial information, payment service providers use, where relevant, the terms and definitions contained in the list of the most representative payment services referred to in Article 3, paragraph 5. Payment service providers shall meet this obligation within twelve months of the publication of the EU standardised list.
Amendment 364 #
2013/0139(COD)
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
2. Payment service providers may use brand names to designate their services in their contractual and commercial information, in the fee information document or the statement of fees, subject to the condition that they identify, where relevant, the corresponding termdefinition in the list referred to in Article 3, paragraph 5. Payment service providers shall not use brand names in the fee information document or the statement of fees.
Amendment 387 #
2013/0139(COD)
Proposal for a directive
Article 7 – paragraph 2 – point e a (new)
Article 7 – paragraph 2 – point e a (new)
(ea) provide information, yet not any kind of recommendations;
Amendment 407 #
2013/0139(COD)
Proposal for a directive
Article 9 – title
Article 9 – title
Provision and timing of implementation of the switching service
Amendment 408 #
2013/0139(COD)
Proposal for a directive
Article 9 – paragraph 1
Article 9 – paragraph 1
Amendment 417 #
2013/0139(COD)
Proposal for a directive
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
1a. The switching service request does not involve the switching of the contract from the transferring payment service provider to the receiving payment service provider.
Amendment 421 #
2013/0139(COD)
Proposal for a directive
Article 9 – paragraph 1 b (new)
Article 9 – paragraph 1 b (new)
Member States shall ensure that by two years after entry into force of this Directive payment service providers provide a switching service as described in Article 10, or provide an equivalent switching services within (as a maximum) the same overall timescales as described in Article 10, to any consumer who holds a payment account with a payment service provider located in that Member State.
Amendment 422 #
2013/0139(COD)
Proposal for a directive
Article 9 – paragraph 1 c (new)
Article 9 – paragraph 1 c (new)
Unless the European Commission decides otherwise through a regulatory impact assessment, Member States shall ensure that by six years after the entry into force of this Directive payment service providers provide a switching service as described in article 10, or provide an equivalent switching services within (as a maximum) the same overall timescales as described in Article 10, to any consumer who holds a payment account with a payment service provider located in the Union. At the same time, Member States shall also ensure that there is a system for automated redirection of standing orders and direct debits to the account held by the consumer with the receiving payment service provider implemented.
Amendment 423 #
2013/0139(COD)
Proposal for a directive
Article 9 – paragraph 1 d (new)
Article 9 – paragraph 1 d (new)
Member States shall ensure that as long as there is no system of cross border switching implemented, the closing of a payment account in one Member State and the transferring of the balance to a new payment account in another Member State is not made excessively difficult or burdensome for the consumer.
Amendment 427 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Member States shall ensure that the switching service is initiated by the receiving payment service provider and provided in accordance with the rules set out in paragraphs 2 to 7 and supported by all third parties involved.
Amendment 428 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 2
Article 10 – paragraph 2
2. The switching service shall be initiated by the receiving payment service provider upon request of the consumer. The receiving payment service provider shall request written authorisation from the consumer to perform the switching service. In case of joint accounts the authorisation must be provided by all holders having joint signature of the account. The authorisation shall be drawn up in an official language of the Member State where the switching service is being initiated or in any other language agreed between the parties. The authorisation shall allow the consumer to provide specific consent to the transferring payment service provider to perform each of the tasks indicated in paragraphs 3(e) and 3(f) and to provide specific consent to the receiving payment service provider to perform each of the tasks indicated in paragraphs 4(c), 4(d) and 5. The authorisation shall allow the consumer to specifically request the transmission by the transferring payment service provider of the information indicated in paragraphs 3(a) and 3(b). The authorisation shall also specify the date from which recurrent payments are to be operated from the account opened with the receiving payment service provider. This date shall be at least seven business days from the day the transferring payment service provider receives the request to perform the switch from the receiving payment service provider pursuant to Article 10 paragraph 6.
Amendment 436 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 3 – point a
Article 10 – paragraph 3 – point a
(a) transmit to the receiving payment service provider and, if specifically requested by the consumer pursuant to paragraph 2, to the consumer a list of all existing standing orders for credit transfers and debtor driven direct debit mandatesavailable direct debit mandates and credit transfers with execution date from the date specified in the authorisation;
Amendment 443 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 3 – point c
Article 10 – paragraph 3 – point c
(c) transmit to the receiving payment service provider any additionalrelevant information deemed necessary by the receiving payment service provider to perform the switch;
Amendment 448 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 3 – point d
Article 10 – paragraph 3 – point d
(d) where the transferring payment service provider does not provide a system for automated redirection of the standing ordersincoming credit transfer and direct debits to the account held by the consumer with the receiving payment service provider, cancel standing ordstop incoming credit transfers and stop accepting direct debits onfrom the date specified in the authorisation;
Amendment 451 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 3 – point f
Article 10 – paragraph 3 – point f
(f) where the consumer gave specific consent pursuant to paragraph 2, close the account held with the transferring payment service provider on the date specified by the consumer or - if closure on the specified date is not possible - on the next possible date after the tasks under paragraph 3(d) and (e) have been performed, unless circumstances in need of clarification or regulation (e.g. negative balance) have arisen in respect of which the transferring payment service provider will contact the consumer.
Amendment 453 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 3 – point f a (new)
Article 10 – paragraph 3 – point f a (new)
(fa) cancel standing orders and credit transfers with execution date from the date specified in the authorisation;
Amendment 456 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 4 – point a
Article 10 – paragraph 4 – point a
(a) set up within seven calendarbusiness days the standing orders for credit transfers requesmandated by the consumer and execute them from the date specified in the authorisation and set up credit transfers with execution date from the date specified in the authorisation; the seven business days should only start to count after the payment account with the receiving payment service provider has been established or opened and the consumer has provided all necessary information to the transferring payment service provider to start the switching process;
Amendment 462 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 4 – point b
Article 10 – paragraph 4 – point b
(b) after the payment account with the receiving payment service provider has been opened, accept direct debits from the date specified in the authorisation;
Amendment 472 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 4 – point e
Article 10 – paragraph 4 – point e
(e) where the consumer chooses to personally provide the information indicated in points (c) and (d), provide the consumer with standard letters providing details of the new account and the starting date indicated in the authorisation. The standard letter shall be drawn up in an official language of the Member State where the switching service is being initiated or in any other language agreed between the parties.
Amendment 477 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 6 – point a
Article 10 – paragraph 6 – point a
(a) send the receiving payment service provider the information indicated in points (a), (b) and (c) of paragraph 3 within seven calendarbusiness days of receiving the request;
Amendment 479 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 6 – point b
Article 10 – paragraph 6 – point b
(b) where the transferring payment service provider does not provide a system for automated redirection of the standing ordincoming credit transfers and direct debits to the account held by the consumer with the receiving payment service provider, cancel any standing ordstop incoming credit transfers and stop accepting direct debits on the payment account onfrom the date requested by the receiving payment service provider;
Amendment 483 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 6 – point d
Article 10 – paragraph 6 – point d
(d) close the payment account after the fulfilment of the duties as per Article 10 paragraph 6(b) and (c);
Amendment 486 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 6 – point e a (new)
Article 10 – paragraph 6 – point e a (new)
(ea) the above referenced tasks are subject to a "positive" balance on the payment account;
Amendment 504 #
2013/0139(COD)
Proposal for a directive
Article 12 – paragraph 1
Article 12 – paragraph 1
1. Member States shall ensure that anythe liability incurred by payment service providers in respect of financial loss incurred by the consumer resulting from the non-compliance of a payment service provider involved in the switching process with its obligations under Article 10 is refunded by that payment service provider.
Amendment 511 #
2013/0139(COD)
Proposal for a directive
Article 12 – paragraph 2
Article 12 – paragraph 2
2. Consumers shall not bear any financial loss resulting from mistakes or delays in updating their payment account details by a payer or payee. Member States shall make sure that the payers and payees are made liable when they don't comply with the deadlines set up by Member States as stipulated in Article 10 paragraph 4a (new).
Amendment 538 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 1 (new)
Article 15 – paragraph 1 – subparagraph 1 (new)
Member States shall ensure that when a consumer is denied a payment account on the free market, the refusal letter of the payment service provider contains a mandatory notice about the legal right to a basic payment account and the alternative dispute resolution body and its contact details.
Amendment 547 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 2
Article 15 – paragraph 2
2. Member States shall ensure that consumers legally resident in the Union who have previously been denied access to a regular payment account and can justify a genuine link with the Member State of the payment service provider, have the right to open and use a payment account with basic features with the payment service provider or providers identified pursuant to paragraph 1. Such a right shall apply irrespective of the consumer's place of residence. Member States shall ens, provided that the consumer: (a) does not already hold a payment account in that Member State; (b) provides: (i) a declaration of honoure that the exercise of the right is not made excessively difficult or burdensome for the consumer. Before opening the payment account with basic features, payment service providercan be used by payment service providers as a reliable means of verifying that he/she does not already hold a payment account with basic features or; (ii) a simple declaration of at least one financial institution in the Member States concerned which demonstrates sthall verify whether the consumer holds or does not hold a payment account in their territoryt in the Member State concerned he/she has been refused a payment account.
Amendment 556 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 2 – subparagraph 1 (new)
Article 15 – paragraph 2 – subparagraph 1 (new)
The right to open a payment account with basic features shall apply irrespective of the consumer's place of residence. Member States shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer. Consumers also should be required to attend in person at an office of the payment service provider in the Member State of their choosing.
Amendment 573 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 3 – point b a (new)
Article 15 – paragraph 3 – point b a (new)
(ba) where the consumer cannot prove that it has previously been denied access to a "regular" payment account;
Amendment 579 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 3 – point b b (new)
Article 15 – paragraph 3 – point b b (new)
(bb) where the consumer fails to justify the genuine link as stipulated in Article 15 (2);
Amendment 582 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 3 – point b c (new)
Article 15 – paragraph 3 – point b c (new)
(bc) where the consumer provides materially false information;
Amendment 583 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 3 – point b d (new)
Article 15 – paragraph 3 – point b d (new)
(bd) where payment services providers have an objectively justified reason to suspect that a consumer will use the account for unauthorised or fraudulent purposes;
Amendment 584 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 3 – point b e (new)
Article 15 – paragraph 3 – point b e (new)
(be) where the opening of an account would result in the payment service provider breaching EU, UN or international sanctions regimes.
Amendment 596 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 1 – introductory part
Article 16 – paragraph 1 – introductory part
1. Member States shall ensure that a payment account with basic features in the currency of the Member State where the payment service provider is located includes the following payment services:
Amendment 600 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 1 – point a
Article 16 – paragraph 1 – point a
(a) services enabling all the operations required for the opening, operating and closing of a paymcurrent account;
Amendment 602 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 1 – point b
Article 16 – paragraph 1 – point b
(b) services enabling moneycash to be placed on a paymcurrent account;
Amendment 606 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 1 – point c
Article 16 – paragraph 1 – point c
(c) services enabling cash withdrawals from a current account, at the bank counter and at automated teller machines outside the bank's opening hours, within the Union from a payment account;
Amendment 614 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 1 – point d – point 2
Article 16 – paragraph 1 – point d – point 2
(2) payment transactions through a paymendirect debit card, including online payments;
Amendment 622 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 1 – point d – point 3
Article 16 – paragraph 1 – point d – point 3
(3) credit transfers and standing orders at bank terminals, at bank counters and via the current online banking system of the respective payment service provider.
Amendment 630 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 2
Article 16 – paragraph 2
2. Member StatesThe European Commission shall determine, for all the services referred to in paragraph 1, a minimum number of operations which will be provided to the consumer for the fee, if any, referred to in Article 17. The minimum number of operations shall be reasonable and in line with the common commercial practice in the Member State concernedUnion.
Amendment 633 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 3
Article 16 – paragraph 3
3. Member States shall ensure that the consumer is able to manage and initiate payment transactions from the consumer's payment account with basic features via the payment service provider's bank counter and online banking facilities, where available.
Amendment 662 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 2 – point a
Article 18 – paragraph 2 – point a
(a) the consumer deliberately used or abused the account for criminal activitiillegal purposes;
Amendment 677 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 2 – point d a (new)
Article 18 – paragraph 2 – point d a (new)
(da) where the consumer seriously or persistently breaks any terms of agreement;
Amendment 680 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 2 – point d b (new)
Article 18 – paragraph 2 – point d b (new)
(db) where it is not ensured that the bank will receive the customary fees agreed for the operation and use of the account;
Amendment 682 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 2 – point d c (new)
Article 18 – paragraph 2 – point d c (new)
(dc) where the consumer otherwise fails to abide by the arrangements.
Amendment 689 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 3
Article 18 – paragraph 3
3. Member States shall ensure that where the payment service provider terminates the contract of a payment account with basic features, it informs the consumer of the grounds and the justification for the termination at least 2 months before the termination enters into force, in writing and free of charge, unless such disclosure would be contrary to the objectives of national security or public policy.
Amendment 707 #
2013/0139(COD)
Proposal for a directive
Article 23 – paragraph 1 a (new)
Article 23 – paragraph 1 a (new)
1a. The pecuniary penalties shall as much as possible be quantified at European level to ensure the effective implementation of the national provisions adopted pursuant to this Directive. Member State shall ensure that administrative measures and sanctions are systematically published by the competent authorities.
Amendment 726 #
2013/0139(COD)
Proposal for a directive
Article 27 – paragraph 3
Article 27 – paragraph 3
3. The review shall also assess whether the extended deadlines established in Article 10(9) shall be maintained for a longer period of time and whether additional measures in addition to those adopted pursuant to Article 7 and 8 with respect to comparison websites and packaged offers are needed.
Amendment 728 #
2013/0139(COD)
Proposal for a directive
Article 27 – paragraph 3 a (new)
Article 27 – paragraph 3 a (new)
3a. The review shall also assess whether the system of switching payment accounts should be extended to the switching of other accounts;
Amendment 729 #
2013/0139(COD)
Proposal for a directive
Article 27 – paragraph 3 b (new)
Article 27 – paragraph 3 b (new)
3b. The Commission shall present to the European Parliament and the Council, within three years of entry into force of this Directive, a regulatory impact assessment whether there is a justifiable and proportionate need within the Union for cross-border switching of payment accounts to be facilitated.
Amendment 731 #
2013/0139(COD)
Proposal for a directive
Article 28 – paragraph 1
Article 28 – paragraph 1
1. Member States shall adopt and publish, by [onetwo years after entry into force of this Directive] at the latest, the laws, regulations and administrative provisions necessary to comply with this Directive. They shall forthwith communicate to the Commission the text of those provisions.
Amendment 156 #
2013/0124(COD)
Proposal for a directive
Article 5 – paragraph 2 – point d a (new)
Article 5 – paragraph 2 – point d a (new)
(da) Informing young graduates and students in their final year of their education of their rights when working abroad;
Amendment 172 #
2013/0124(COD)
Proposal for a directive
Article 6 a (new)
Article 6 a (new)
Article 6a Overarching regime for mobile workers 1. In order to make full use of the labour market and facilitating the mobility for EU citizens and residents, the Commission shall consider an optional, voluntary, individual and overarching "29th regime" to complement national social security systems; 2. The Commission shall lay down minimum requirements for this "29th regime".
Amendment 193 #
2013/0124(COD)
Proposal for a directive
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
In this report, the Commission shall pay extra attention to possible difficulties young graduates encounter when moving across the Union, both for a fixed period or a temporary position.
Amendment 195 #
2013/0124(COD)
Proposal for a directive
Article 10 – paragraph 1 b (new)
Article 10 – paragraph 1 b (new)
The Commission shall also analyse the possible difficulties that spouses of workers encounter when those spouses are third country nationals.
Amendment 20 #
2013/0110(COD)
Proposal for a directive
Recital 5
Recital 5
Amendment 23 #
2013/0110(COD)
Proposal for a directive
Recital 6
Recital 6
(6) In order to enhance consistency and comparability of non-financial information disclosed throughout the Union, companies should be required toWhen relevant, companies can include in their annual report a non- financial statement containing information relating to at least environmental matters, social and employee-related matters, respect for human rights, anti-corruption and bribery matters. Such statement should include a description of the policies, results, and the risks related to those matters.
Amendment 36 #
2013/0110(COD)
Proposal for a directive
Recital 11
Recital 11
Amendment 40 #
2013/0110(COD)
Proposal for a directive
Recital 12
Recital 12
Amendment 43 #
2013/0110(COD)
Proposal for a directive
Recital 16
Recital 16
Amendment 46 #
2013/0110(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Directive 78/660/EEC
Article 46 – paragraph 1 – point b
Article 46 – paragraph 1 – point b
Amendment 59 #
2013/0110(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Directive 78/660/EEC
Article 46 – paragraph 1 – point b – subparagraph 2
Article 46 – paragraph 1 – point b – subparagraph 2
Amendment 64 #
2013/0110(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point c
Article 1 – paragraph 1 – point 1 – point c
Directive 78/660/EEC
Article 46 – paragraph 1 – point c – subparagraph 5
Article 46 – paragraph 1 – point c – subparagraph 5
Amendment 67 #
2013/0110(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 78/660/EEC
Article 46 – paragraph 1 – point b– subparagraph 4
Article 46 – paragraph 1 – point b– subparagraph 4
Amendment 71 #
2013/0110(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Directive 78/660/EEC
Article 46a – paragraph 1 – point g
Article 46a – paragraph 1 – point g
a description of the company's diversity policy for its administrative, management and supervisory bodies with regard to aspects such as age, gender, geographical diversity, educational and professional background, the objectives of this diversity policy, how it has been implemented and the results in the reporting period. If the company has no such policy, the statement shall contain a clear and reasoned explanation as to why this is the case.
Amendment 76 #
2013/0110(COD)
Proposal for a directive
Article 2 – point 1 – point a
Article 2 – point 1 – point a
Directive 83/349 / EEC
Article 36 – paragraph 1 – subparagraph 3
Article 36 – paragraph 1 – subparagraph 3
Amendment 84 #
2013/0110(COD)
Proposal for a directive
Article 2 – point 1 – point a
Article 2 – point 1 – point a
Directive 83/349/EEC
Article 36 – paragraph 1 – point a – subparagraph 4
Article 36 – paragraph 1 – point a – subparagraph 4
Amendment 89 #
2013/0110(COD)
Proposal for a directive
Article 2 – point 1 – point b
Article 2 – point 1 – point b
Directive 83/349/EEC
Article 36 – paragraph 1 – point b – subparagraph 4
Article 36 – paragraph 1 – point b – subparagraph 4
Amendment 91 #
2013/0110(COD)
Proposal for a directive
Article 2 – point 1 – point b
Article 2 – point 1 – point b
Directive 83/349/EEC
Article 36 – paragraph 1 – point b – subparagraph 5
Article 36 – paragraph 1 – point b – subparagraph 5
Amendment 88 #
2013/0105(COD)
Proposal for a directive
Recital 7
Recital 7
(7) Longer vehicles may be used in cross- border transport if the twowo or several Member States concerned already allow it and if the conditions for derogation under Article 4(3), (4) or (5) of the Directive are met. The European Commission has already provided guidance on the application of Article 4 of the Directive. The transport operations referred to in Article 4(4) do not have a significant impact on international competition if the cross- border use remains limited to two Member States where the existing infrastructure and the road safety requirements allow itCompetent authorities of Member States should determine specific requirements to the vehicle, the infrastructure and the driver in order to assure an adequate level of safety. The cross-border use of these vehicles should be backed by bilateral or multilateral agreements between the competent authorities of Member States concerned specifying the routes and other conditions that need to be met. The European Commission has already provided guidance on the application of Article 4 of the Directive. This balances the Member States’ right under the principle of subsidiarity to decide on transport solutions suited to their specific circumstances with the need to prevent such policies from distorting the internal market. The provisions of Article 4 (4) are clarified in this respect.
Amendment 107 #
2013/0105(COD)
Proposal for a directive
Recital 9
Recital 9
(9) The White Paper on Transport also stresses the need to monitor developments in intermodal transport, particularly in the area of containerisation, where 45-foot containers are increasingly used. They are transported by rail or inland waterways. But the road components of intermodal journeys can only be undertaken today if both the Member States and the transporters follow cumbersome administrative procedures or if these containers have patented chamfered corners, the cost of which is prohibitive. Increasing the length of the vehicles transporting them by 1580 cm could eliminate these administrative procedures for transporters and facilitate intermodal transport, without risk or prejudice to the infrastructure or other road users. The small increase that this 1580 cm represents in relation to the length of an articulated truck (16.50 m) does not constitute an additional risk to road safety. In the policy orientation of the White Paper on Transport, this increase is however authorised only for intermodal transport, for which the road component does not exceed 300 km for operations involving a rail, river or sea component. This distance appeared sufficient to link an industrial or commercial site with a freight terminal or a river port. To link a seaport and support the development of motorways of the sea, a longer distance is possible for a short intra-European maritime transport operation.
Amendment 125 #
2013/0105(COD)
Proposal for a directive
Recital 17
Recital 17
(17) The Commission should be empowered to adopt delegated acts, in accordance with Article 290 of the Treaty on the Functioning of the European Union, to define the requirements imposed on new aerodynamic devices placed in the rear of the vehicle or the design of new motor vehicles, as well as the technical specifications to ensure full interoperability of onboard weighing devices, and guidelines on the procedures for checking the weight of vehicles in circulation. It is particularly important that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The consultations should include the major stakeholders such as truck manufacturers and body and trailer builders. The Commission, when preparing and drawing-up delegated acts, shall ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and Council. The stakeholders should be left sufficient time to comply with these requirements.
Amendment 150 #
2013/0105(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a a (new)
Article 1 – paragraph 1 – point 2 – point a a (new)
Directive 96/53/EC
Article 4 – paragraph 4 – subparagraph 1
Article 4 – paragraph 4 – subparagraph 1
(aa) The first phrase of Article 4(4) is replaced by the following phrase: `Member States may allow vehicles or vehicle combinations used for goods transport which carry out certain transport operations that do not significantly affect international competition in the transport sector to circulate in their territories with weights and dimensions deviating from those laid down in points 1, 2, and 4 of Annex 1.´
Amendment 167 #
2013/0105(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Directive 96/53/EC
Article 4 – paragraph 4 – subparagraph 2
Article 4 – paragraph 4 – subparagraph 2
Amendment 256 #
2013/0105(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 96/53/EC
Article 10a – paragraph 1
Article 10a – paragraph 1
The maximum weights of vehicles with hybrid propulsion oralternatively fuelly electric propulsioned vehicles shall be those set out in Annex I, point 2.3.15.
Amendment 266 #
2013/0105(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Directive 96/53/EC
Article 11 – paragraph 1 – first part
Article 11 – paragraph 1 – first part
The maximum dimensions laid down in Annex I points 1.1 and 1.6 may be exceeded by 1580 cm for vehicles or combinations of vehicles engaged in the transport of 45-foot containers or swap bodies, if the road transport of the container or swap body is part of an intermodal transport operation.
Amendment 276 #
2013/0105(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Directive 96/53/EC
Article 11 – paragraph 1 – second part
Article 11 – paragraph 1 – second part
For the purposes of this Article, and of point 2.2.2(c) of Annex I, an intermodal transport operation shall include at least rail, river or sea transport at least. It shall also include a road section for its initial and/or terminal journey. Each of these road sections shall be less than 300 km in the territory of the European Union or just as far as the closest terminals between which there is a regular service. A transport operation shall also be regarded as intermodal transport if it uses intra- European short sea shipping, regardless of the lengths of the initial and terminal road journeys. The initial road journey and the terminal road journey for an operation using intra-European short sea shipping takes place from the point where the goods are loaded to the nearest appropriate seaport for the initial leg, and/or where appropriate between the nearest appropriate seaport and the point where the goods are unloaded for the final leg.
Amendment 348 #
2013/0105(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 16 – point c
Article 1 – paragraph 1 – point 16 – point c
Directive 96/53/EC
Annex I – point 2.3.1 – indent 2
Annex I – point 2.3.1 – indent 2
Amendment 359 #
2013/0105(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 16 – point c a (new)
Article 1 – paragraph 1 – point 16 – point c a (new)
Directive 96/53/EC
Annex I – point 2.5 (new)
Annex I – point 2.5 (new)
Amendment 204 #
2013/0072(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point e
Article 1 – paragraph 1 – point 1 – point e
Regulation (EC) No 261/2004
Article 2 – point o
Article 2 – point o
“connecting flight” means a flight which, under a single contract of carriage and a single booking reference, is intended to enable the passenger to arrive at a transfer point in order to depart on another flight, or, where appropriate in the context, means that other flight departing from the transfer point.
Amendment 335 #
2013/0072(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EC) No 261/2004
Article 6 – paragraph 3 a (new)
Article 6 – paragraph 3 a (new)
In Article 6(3) the following paragraph shall be inserted: Paragraph 2 shall not apply to passengers whose reservation is a component of a package holiday, as defined by Council Directive 90/314/EEC, as those passengers have a different travel regime and are covered by rights as stipulated in that directive.
Amendment 358 #
2013/0072(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Regulation (EC) No 261/2004
Article 6 a – paragraph 1 – introductory part
Article 6 a – paragraph 1 – introductory part
Where a passenger misses a connecting flight as a result of a delay or change of schedule to a preceding flight, the Community air carrier operating the onward connecting flightresponsible for that delay or change in schedule shall offer the passenger:
Amendment 465 #
2013/0072(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Regulation (EC) No 261/2004
Article 14 – paragraph 7 a (new)
Article 14 – paragraph 7 a (new)
In Article 14, the following paragraph shall be inserted: 7a. During their operating hours, air carriers shall ensure the presence at each airport they operate of contact personnel or a service or other air carrier from the same Alliance which can provide such personnel, who can take immediate decisions in case of denied boarding, cancellation or long delay of flights, with regards to assistance, reimbursement, rerouting, rebooking and lost or delayed luggage and with whom complaints can be lodged.
Amendment 24 #
2013/0045(CNS)
Draft legislative resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
(1a) Calls on the Commission to demonstrate in a comprehensive impact assessment and cost benefit analysis that any enhanced cooperation will respect the competences, rights and obligations of those Member States which do not participate in it.
Amendment 30 #
2013/0045(CNS)
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) Prior to the introduction of an FTT the Commission shall demonstrate that enhanced cooperation will not undermine the internal market or economic, social and territorial cohesion. It shall also demonstrate that it does not constitute a barrier to or discrimination in trade between Member States, nor distort competition between them. The Commission shall present a new robust analysis and impact assessment, of the consequences the proposal for a common FTT both on participating and non participating countries as well as on the Single Market as a whole.
Amendment 34 #
2013/0045(CNS)
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) According to the difference in scope between the initial Commission proposal for a common FTT and existing national financial transaction tax regimes this enhanced cooperation in regard to FTT may not be regarded as furthering the Union's objectives, protecting its interests and reinforcing its integration process within the meaning of Article 20 TEU.
Amendment 39 #
2013/0045(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) Any harmonisation of FTTs amongst participating Member States must not result in extra-territorial taxation infringing on the potential tax base for other non participating EU countries.
Amendment 44 #
2013/0045(CNS)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
Amendment 55 #
2013/0045(CNS)
Proposal for a directive
Recital 15 a (new)
Recital 15 a (new)
(15a) The FTT should not be levied on parties to the transaction that is not located within a participating Member State. This is to respect the sovereignty of the jurisdiction of non-participating Member States and third countries. Fundamental principles of international taxation limit a states right to taxation to its own jurisdiction. Every infringement on this fundamental principle may lead to undesirable counter measures from affected jurisdictions. Accordingly, FTT should only be levied on Financial Institutions within the territory of a participating Member State.
Amendment 56 #
2013/0045(CNS)
Proposal for a directive
Recital 15 b (new)
Recital 15 b (new)
(15b) The residence principle should not be complemented by the "transfer of legal title principle" in this Directive.
Amendment 58 #
2013/0045(CNS)
Proposal for a directive
Recital 16
Recital 16
(16) The minimum tax rates should be set at a level sufficiently high for the harmonisation objective of a common FTT to be achieved. At the same time, they have to be low enough so that delocalisation risks are minimised as well as increases in the cost of funding for business. The tax rate should not in any way reduce the value of pension rights.
Amendment 60 #
2013/0045(CNS)
Proposal for a directive
Recital 19 a (new)
Recital 19 a (new)
Amendment 72 #
2013/0045(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 2 – point b
Article 2 – paragraph 1 – point 2 – point b
Amendment 81 #
2013/0045(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 7 a (new)
Article 2 – paragraph 1 – point 7 a (new)
(7a) 'market maker' means a market maker as defined in article 4 of Directive [MiFID], a person who holds himself out on the financial markets on a continuous basis as being willing to deal on own account by buying and selling financial instruments against his proprietary capital;
Amendment 82 #
2013/0045(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 7 b (new)
Article 2 – paragraph 1 – point 7 b (new)
Amendment 83 #
2013/0045(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 7 c (new)
Article 2 – paragraph 1 – point 7 c (new)
(7 c) 'SME, small and medium-sized enterprises' means a company that has an average market capitalisation of less than EUR 200 000 000 in accordance with Article 4 (12) in Regulation No.../...[MiFID];
Amendment 85 #
2013/0045(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 8 – point e
Article 2 – paragraph 1 – point 8 – point e
Amendment 88 #
2013/0045(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 8 – point f
Article 2 – paragraph 1 – point 8 – point f
Amendment 93 #
2013/0045(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 8 – point j
Article 2 – paragraph 1 – point 8 – point j
Amendment 103 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 2 – point c a (new)
Article 3 – paragraph 2 – point c a (new)
(ca) SME growth markets;
Amendment 105 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 2 – point c b (new)
Article 3 – paragraph 2 – point c b (new)
(cb) Small and medium-sized enterprises;
Amendment 106 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 2 – point c c (new)
Article 3 – paragraph 2 – point c c (new)
(c c) a pension fund or an institution for occupational retirement provision as defined in Article 6(a) of Directive 2003/41/EC of the European Parliament and of the Council36 , an investment manager of such fund or institution;
Amendment 107 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 2 – point c d (new)
Article 3 – paragraph 2 – point c d (new)
(cd) an undertaking for collective investments in transferable securities (UCITS) as defined in Article 1(2) of Directive 2009/65/EC of the European Parliament and of the Council35 and a management company as defined in Article 2(1)(b) of Directive 2009/65/EC;
Amendment 108 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 2 – point c e (new)
Article 3 – paragraph 2 – point c e (new)
(ce) a branch or subsidiary of an institution established in a participating Member State pursuant to point (c) of Article 4 paragraph 1 but operating in a non participating Member State where it is not trading in an instrument issued in a participating Member State;
Amendment 109 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 2 – point c f (new)
Article 3 – paragraph 2 – point c f (new)
(cf) Financial institutions acting as market makers or undertaking transactions associated with that activity including the hedging of risks resulting from that activity.
Amendment 110 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 2 – point c g (new)
Article 3 – paragraph 2 – point c g (new)
(cg) A venture capital or social entrepreneurship fund that operate under the EU-wide passport as respectively defined by article 3 of the Regulation (EU) 345/2013 on European venture capital funds and by article 3 of the Regulation (EU) 346/2013 on social entrepreneurship funds;
Amendment 115 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 4 – point g a (new)
Article 3 – paragraph 4 – point g a (new)
(ga) instruments issued in non- participating Member States.
Amendment 120 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 4 – point g b (new)
Article 3 – paragraph 4 – point g b (new)
(gb) Intragroup transactions between entities of a consolidated group and entities of a network of decentralised banks under the condition that the respective financial instruments are owned by them and similar types of transactions comprising the transfer of the risk linked to the financial instrument;
Amendment 122 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 4 – point g c (new)
Article 3 – paragraph 4 – point g c (new)
(g c) A reverse repurchase agreement, a repurchase agreement, a contractual agreement on securities lending and borrowing.
Amendment 127 #
2013/0045(CNS)
Proposal for a directive
Article 3 – paragraph 4 – point g g (new)
Article 3 – paragraph 4 – point g g (new)
(gg) bonds and transactions in financial instruments related to hedging or market making activities in bond markets.
Amendment 132 #
2013/0045(CNS)
Proposal for a directive
Article 4 – paragraph 1 – point g
Article 4 – paragraph 1 – point g
(g) it is party, acting either for its own account or for the account of another person, or is acting in the name of a party to the transaction, to a financial transaction in a structured product or one of the financial instruments referred to in Section C of Annex I of Directive 2004/39/EC issued within the territory of that Member State, with the exception of instruments referred to in points (4) to (10) of that Section which are not traded on an organised platform.
Amendment 134 #
2013/0045(CNS)
Proposal for a directive
Article 4 – paragraph 2 – point c
Article 4 – paragraph 2 – point c
Amendment 142 #
2013/0045(CNS)
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2 – point a
Article 9 – paragraph 2 – subparagraph 2 – point a
(a) 0.01% in respect of the financial transactions referred to in Article 6;
Amendment 144 #
2013/0045(CNS)
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2 – point b
Article 9 – paragraph 2 – subparagraph 2 – point b
(b) 0.001% in respect of financial transactions referred to in Article 7.
Amendment 152 #
2013/0045(CNS)
Proposal for a directive
Article 10 – paragraph 3
Article 10 – paragraph 3
Amendment 163 #
2013/0045(CNS)
Proposal for a directive
Article 15 a (new)
Article 15 a (new)
Article 15 a Establishment of the FTT Committee 1. The Commission shall establish an expert working group (the FTT Committee) comprising representatives from all EU Member States, the Commission, the ECB, and ESMA to assist participating Member States in the effective implementation of this Directive and prevent tax fraud, evasion and avoidance and to preserve the integrity of the Single market. 2. The FTT Committee shall assess the effective implementation of this Directive, assess the effects on the single market, for participating and non participating Member States, and detect avoidance schemes including abusive arrangements as defined in Article 14 in order to propose countermeasures, where appropriate, making full use of Union law in the field of taxation and financial services regulation and of the instruments for cooperation on tax matters established by international organisations including the OECD and the Council of Europe.
Amendment 22 #
2013/0029(COD)
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) Several studies and questionnaires demonstrate that in Member States who have opened their markets for domestic passenger transport, such as Sweden and the United Kingdom, the railway market grew, including more satisfied passengers and personnel.
Amendment 24 #
2013/0029(COD)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) The opening of the market for domestic passenger transport will have a positive impact on the working of the European railway market; this will lead to more flexibility and more possibilities for companies and passengers. Railway personnel will also benefit from the opening, as it will improve their chances to provide their services to new players on the market. Experienced workers can create an added value to the new players, leading to better labour conditions.
Amendment 25 #
2013/0029(COD)
Proposal for a directive
Recital 4 b (new)
Recital 4 b (new)
(4b) Member States are responsible for the organisation of their labour markets for railway personnel. They should however make sure that the way the labour market is organised, does not harm the quality of the service. European laws do already provide for a clear framework for the protection of railway workers.
Amendment 28 #
2013/0029(COD)
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
(9a) Vertically integrated undertakings can never have the necessary independence between the infrastructure manager and the railway undertaking. The structure can therefore lead to cross subsidising, which hampers the level playing field and leads to distortion of competition.
Amendment 32 #
2013/0029(COD)
Proposal for a directive
Recital 15
Recital 15
(15) Regulatory bodies should assess the potential economic impact of domestic passenger services provided under open access conditions on existing public service contracts as well as the potential economic impact of a new or altered public service contract on services provided under open access conditions by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive, following a request made by interested parties and on the basis of an objective economic analysis.
Amendment 33 #
2013/0029(COD)
Proposal for a directive
Recital 17
Recital 17
(17) The assessment of whether the economic equilibrium of the public service contract or of the service provided by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive, would be compromised should take into account predetermined criteria. Such criteria and the details of procedure to be followed may evolve over time, in particular in the light of the experience of regulatory bodies, competent authorities and railway undertakings and may take into account the specific characteristics of domestic passenger services.
Amendment 50 #
2013/0029(COD)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) The opening of the market for domestic passenger transport will have a positive impact on the working of the European railway market; this will lead to more flexibility and more possibilities for companies and passengers. Railway personnel will also benefit from the opening, as it will improve their chances to provide their services to new players on the market. Experienced workers can create an added value to the new players, leading to better labour conditions.
Amendment 51 #
2013/0029(COD)
Proposal for a directive
Recital 4 b (new)
Recital 4 b (new)
Amendment 54 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 3 – point 5
Article 1 – point 3 – point 5
Amendment 58 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2012/34/EU
Article 7d – paragraph 1
Article 7d – paragraph 1
Member States shall ensure that infrastructure managers set up and organise Coordination Committees for each network. Membership of this committee shall be open at least to the infrastructure manager, known applicants in the sense of Article 8(3) and, upon their request, potential applicants, their representative organisations, representatives of users of the rail freight and passenger transport services and, where relevant, regional and local authorities. Member State representatives and the regulatory body concerned shall be invited to the meetings of the Coordination Committee as observers.
Amendment 59 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point a
Article 1 – point 6 – point a
Directive 2012/34/EU
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1a. Member States may limit the right of creating new or altered passenger services under public service contracts when the new or altered public service contracts compromise the economic equilibrium of the existing services provided by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive;
Amendment 60 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point b
Article 1 – point 6 – point b
Directive 2012/34/EU
Article 11 – paragraph 2 – subparagraph 1
Article 11 – paragraph 2 – subparagraph 1
In order to determine whether the economic equilibrium of a public service contract or of a service provided by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive in case of creation of a new public service contract or alteration of an existing public service contract would be compromised, the relevant regulatory body or bodies referred to in Article 55 shall make an objective economic analysis and base its decision on pre-determined criteria. They shall determine this after a request from any of the following, submitted within one month from the information on the intended passenger service referred to in Article 38(4):
Amendment 62 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point b – subpoint d a (new)
Article 1 – point 6 – point b – subpoint d a (new)
Directive 2012/34/EU
Article 11 – paragraph 2 – subparagraph 1 – point da (new)
Article 11 – paragraph 2 – subparagraph 1 – point da (new)
(da) the railway undertaking which has been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive.
Amendment 62 #
2013/0029(COD)
Proposal for a directive
Recital 7
Recital 7
(7) Cross-border issues such as track- access charges should be addressed efficiently between infrastructure managers of the different Member States through the establishment of a European network of infrastructure managers.
Amendment 63 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point c – subpoint d
Article 1 – point 6 – point c – subpoint d
Directive 2012/34/EU
Article 11 – paragraph 3 – point d
Article 11 – paragraph 3 – point d
the railway undertaking seeking access or which has been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive.
Amendment 64 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point c
Article 1 – point 6 – point c
Directive 2012/34/EU
Article 11 – paragraph 3 – subparagraph 2 a (new)
Article 11 – paragraph 3 – subparagraph 2 a (new)
In case the regulatory body decides that the economic equilibrium of a service provided by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive, would be compromised by the intended new or altered public service contract, it shall indicate possible changes to such contracts or make recommendations for compensation of the affected railway undertaking.
Amendment 68 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 8
Article 1 – point 8
Directive 2012/34/EU
Article 38 – paragraph 4
Article 38 – paragraph 4
Where an applicant intends to request infrastructure capacity with a view to operating a passenger service according to Article 10, paragraph 2 of this Directive or to operating a new or altered public service contract, it shall inform the infrastructure managers and the regulatory bodies concerned no less than 18 months before the entry into force of the working timetable to which the request for capacity relates. In order to enable regulatory bodies concerned to assess the potential economic impact on existing public service contracts or on the service provided by the railway undertaking which has been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive, regulatory bodies shall ensure that any competent authority that has awarded a rail passenger service on that route defined in a public service contract or a new or altered public service contract on a route defined under open access conditions, any other interested competent authority with the right to limit access under Article 11 and any railway undertaking performing the public service contract on the route of that passenger service, or providing a service according to Article 10, paragraph 2 of this Directive, is informed without undue delay and at the latest within five days.
Amendment 70 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 9
Article 1 – point 9
Directive 2012/34/EC
Article 63 – paragraph 1
Article 63 – paragraph 1
By 31 December 20240, the Commission shall evaluate the impact of this Directive on the rail sector and shall submit to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions a report on its implementation.
Amendment 71 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 9
Article 1 – point 9
Directive 2012/34/EU
Article 63 – paragraph 1 a (new)
Article 63 – paragraph 1 a (new)
By 2020, the Commission shall also investigate whether the organisation of the national labour market hampers further market opening, integration and the quality of services provided to the customers. If appropriate, the Commission shall propose new legislative measures to ensure a level playing field for all railway undertakings.
Amendment 78 #
2013/0029(COD)
Proposal for a directive
Recital 9
Recital 9
(9) The existing requirements for the independence of infrastructure managers from railway transport undertakings, as laid down in Directive 2012/34/EU, only cover the essential functions of the infrastructure manager, which are the decision-making on train path allocation, and the decision-making on infrastructure charging. It is however necessary that all the functions are exercised in an independent way, since other functions may equally be used to discriminate against competitors. This is in particular true for decisions on access to ticketing services, stations and depots, on investments or on maintenance which may be made to favour the parts of the network which are mainly used by the transport operators of the integrated undertaking. Decisions on the planning of maintenance works may influence the availability of train paths for the competitors.
Amendment 81 #
2013/0029(COD)
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
(9a) Despite the implementation of the safeguards set out in Directive 2013/34/EU guaranteeing the independence of the infrastructure manager, vertically integrated undertakings could use their structure to give railway operators belonging to such undertakings an undue competitive edge.
Amendment 84 #
2013/0029(COD)
Proposal for a directive
Recital 10
Recital 10
(10) The existing requirements of Directive 2012/34/EU only includeotal separation (in legal, organisational and, decision-making iandependence. This does not entirely exclude the possibility of maintaining an integrated undertaking, as long as these three categories of independence are ensured. Concerning the decision-making independence it must be ensured that the appropriate safeguards exclude control of an integrated accounting terms) of infrastructure management and all undertakings over the decision-making of an infrastructure manager. However, even the full application of such safeguards does not ffering rail services on such infrastructure is the only way of guarding against anti-completely remove all the possibilities for discriminatory behaviour towards competitors which exist in the presence of a vertically integrated undertaking. In particular, the potential for cross- subsidisation still exists in integrated structures, or at least it is very difficult for regulatory bodies to control and enforce safeguards which are established to prevent such cross-subsidisation. An institutional separation of infrastructure management and transport operitive practices and of successfully building, for the benefit of all passengers, an open, non-discriminatory European rail market that is capable of stimulating technological and commercial innovation isn the most effective measure to solve these problemsrail sector.
Amendment 95 #
2013/0029(COD)
Proposal for a directive
Recital 11
Recital 11
(11) Member States should therefore be required to ensure that the same legal or natural person or persons are not entitled to exercise control over an infrastructure manager and, at the same time, exercise control or any right over a railway undertaking. Conversely, control over a railway undertaking should preclude the possibility of exercising control or any right over an infrastructure managerThis Directive aims to establish free and fair competition between all railway undertakings, and therefore precludes a railway undertaking from retaining a vertically integrated model as defined in Article 3.
Amendment 99 #
2013/0029(COD)
Proposal for a directive
Recital 12
Recital 12
Amendment 111 #
2013/0029(COD)
Proposal for a directive
Recital 13
Recital 13
(13) Despite the implementation of the safeguards guaranteeing independence vertically integrated undertakings could abuse of their structure to provide undue competitive advantages for railway operators belonging to such undertakings, For this reason, without prejudice to Art 258 of the Treaty on the Functioning of the European Union, the Commission should verify, upon request of a Member State, a railway undertaking or on its own initiative, that these safeguards are effectively implemented and that any remaining distortions of competition are removed. In case the Commission is not in a position to confirm that this has been achieved, all Member States should have the possibility to limit or revoke access rights of the integrated operators concerned.
Amendment 117 #
2013/0029(COD)
Proposal for a directive
Recital 15
Recital 15
(15) Regulatory bodies should assess the potential economic impact of domestic passenger services provided under open access conditions on existing public service contracts as well as the potential economic impact of a new or altered public service contract on services provided under open access conditions by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive, following a request made by interested parties and on the basis of an objective economic analysis.
Amendment 118 #
2013/0029(COD)
Proposal for a directive
Recital 17
Recital 17
(17) The assessment of whether the economic equilibrium of the public service contract or of the service provided by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive, would be compromised should take into account predetermined criteria. Such criteria and the details of procedure to be followed may evolve over time, in particular in the light of the experience of regulatory bodies, competent authorities and railway undertakings and may take into account the specific characteristics of domestic passenger services.
Amendment 123 #
2013/0029(COD)
Proposal for a directive
Recital 19
Recital 19
(19) In order to increase the attractiveness of railway services for passengers, Member States should be in a position to require railway undertakings operating domestic passenger services to participate in a common information and integrated ticketing scheme for the supply of tickets, through-tickets and reservations. If sSuch a scheme is established, it should be ensured that it does not create market distortion or discriminate between railway undertakings.
Amendment 139 #
2013/0029(COD)
Proposal for a directive
Recital 19 b (new)
Recital 19 b (new)
(19b) In light of the experience acquired through the network of regulatory bodies established with Article 57, the Commission should draw up a legislative proposal to replace the network with a European Regulatory Body, formalising its procedures and giving it legal personality, not later than 31 December 2019, in time for the opening of domestic passenger transport services by rail. That body should have a supervisory and arbitration function enabling it to deal with cross-border and international problems and to hear appeals against decisions taken by national regulatory bodies.
Amendment 237 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 3
Article 1 – point 3
Directive 2012/34/EU
Article 7 – paragraph 5
Article 7 – paragraph 5
Amendment 361 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2012/34/EU
Article 7 c – paragraph 1
Article 7 c – paragraph 1
1. Upon request of a Member State, a railway undertaking or on its own initiative, the Commission shall decide whether infrastructure managers which are part of a vertically integrated undertaking fulfil the requirements of Article 7a and Article 7b and whether the implementation of these requirements is appropriate to ensure a level playing field for all railway undertakings and the absence of distortion of competition in the relevant market.
Amendment 387 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2012/34/EU
Article 7 d – paragraph 1
Article 7 d – paragraph 1
1. Member States shall ensure that infrastructure managers set up and organise Coordination Committees for each network. Membership of this committee shall be open at least to the infrastructure manager, known applicants in the sense of Article 8(3) and, upon their request, potential applicants, their representative organisations, representatives of users of the rail freight and passenger transport services and, where relevant, regional and local authorities. Member State representatives and the regulatory body concerned shall be invited to the meetings of the Coordination Committee as observers.
Amendment 400 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2012/34/EU
Article 7 d – paragraph 2 – subparagraph 1 – point g (a) (new)
Article 7 d – paragraph 2 – subparagraph 1 – point g (a) (new)
(ga) issues faced by the users of the rail freight and passenger transport services including for instance the service performance, the infrastructure charges, the amount and the transparency of the rail service prices
Amendment 416 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2012/34/EU
Article 7 e – paragraph 1 – subparagraph 1
Article 7 e – paragraph 1 – subparagraph 1
Member States shall ensure that infrastructure managers participate and cooperate in a network to develop the Union rail infrastructure, in particular to ensure timely and efficient implementation of the trans-European transport network, including the core network corridors, rail freight corridors according to Regulation (EU) No 913/2010 and the European Rail Traffic Management System (ERTMS) deployment plan laid down in Decision 2012/88/EU. This network shall also address efficiently cross-border issues such as track-access charges.
Amendment 432 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2012/34/EU
Article 7 e – paragraph 2
Article 7 e – paragraph 2
2. The Network shall participate in the market monitoring activities referred to in Article 15 and benchmark the efficiency of infrastructure managers on the basis of common indicators and quality criteria, such as the reliability, capacity, availability, punctuality and safety of their networks, asset quality and utilisation, maintenance, renewals, enhancements, investments, transparency of the charging framework and of the charging rules and financial efficiency.
Amendment 452 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point a
Article 1 – point 6 – point a
Directive 2012/34/EU
Article 11 – paragraph 1
Article 11 – paragraph 1
1. Member States may limit the right of access provided for in Article 10(2) to passenger services between a given place of departure and a given destination when one or more public service contracts cover the same route or an alternative route if the exercise of this right would compromises the economic equilibrium of the public service contract or contracts in question.
Amendment 456 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point a
Article 1 – point 6 – point a
Directive 2012/34/EU
Article 11 – paragraph 1 – subparagraph 1a (new)
Article 11 – paragraph 1 – subparagraph 1a (new)
Member States may limit the right of creating new or altered passenger services under public service contracts when the new or altered public service contracts compromise the economic equilibrium of the existing services provided by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive;
Amendment 461 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point b
Article 1 – point 6 – point b
Directive 2012/34/EU
Article 11 – paragraph 2 – subparagraph 1
Article 11 – paragraph 2 – subparagraph 1
In order to determine whether the economic equilibrium of a public service contract or of a service provided by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive in case of creation of a new public service contract or alteration of an existing public service contract would be compromised, the relevant regulatory body or bodies referred to in Article 55 shall make an objective economic analysis and base its decision on pre-determined criteria. They shall determine this after a request from any of the following, submitted within one month from the information on the intended passenger service referred to in Article 38(4):
Amendment 464 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point b
Article 1 – point 6 – point b
Directive 2012/34/EU
Article 11 – paragraph 2 – point d a (new)
Article 11 – paragraph 2 – point d a (new)
(da) new the railway undertaking which has been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive
Amendment 468 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point c
Article 1 – point 6 – point c
Directive 2012/34/EU
Article 11 – paragraph 3 – point (d)
Article 11 – paragraph 3 – point (d)
d) the railway undertaking seeking access. or which has been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive
Amendment 471 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 6 – point c
Article 1 – point 6 – point c
Directive 2012/34/EU
Article 11 – paragraph 3 – subparagraph 2a (new)
Article 11 – paragraph 3 – subparagraph 2a (new)
In case the regulatory body decides that the economic equilibrium of a service provided by railway undertakings which have been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive, would be compromised by the intended new or altered public service contract, it shall indicate possible changes to such contracts or make recommendations for compensation of the affected railway undertaking.
Amendment 486 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 7
Article 1 – point 7
Directive 2012/34/EU
Article 13 a – paragraph 1
Article 13 a – paragraph 1
1. Without prejudice to Regulation (EC) No 1371/2007 and Directive 2010/40/EU, Member States mayshall require railway undertakings operating domestic passenger services to participate in a common information and integrated ticketing scheme for the supply of tickets, through- tickets and reservations or decide to give the power to competent authorities to establish such a scheme. If such a scheme is established, Member States shall ensure that it doesRegulatory bodies shall ensure that common information and integrated ticketing schemes do not create market distortion or discriminate between railway undertakings and that it is managed by a public or private legal entity or an association of all railway undertakings operating passenger services.
Amendment 512 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 8
Article 1 – point 8
Directive 2012/34/EU
Article 38 – paragraph 4
Article 38 – paragraph 4
4. Where an applicant intends to request infrastructure capacity with a view to operating a passenger service according to Article 10, paragraph 2 of this Directive or to operating a new or altered public service contract, it shall inform the infrastructure managers and the regulatory bodies concerned no less than 18 months before the entry into force of the working timetable to which the request for capacity relates. In order to enable regulatory bodies concerned to assess the potential economic impact on existing public service contracts or on the service provided by the railway undertaking which has been granted access to railway infrastructure according to Article 10, paragraph 2 of this Directive, regulatory bodies shall ensure that any competent authority that has awarded a rail passenger service on thata route defined in a public service contract or a new or altered public service contract on a route defined under open access conditions, any other interested competent authority with the right to limit access under Article 11 and any railway undertaking performing the public service contract on the route of that passenger service, or providing a service according to Article 10, paragraph 2 of this Directive is informed without undue delay and at the latest within five days.
Amendment 548 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 8 d (new)
Article 1 – point 8 d (new)
Directive 2012/34/EU
Article 57 – paragraph 9 a (new)
Article 57 – paragraph 9 a (new)
8d. In Article 57, the following new paragraph 9a is added: 9a. The European Commission shall adopt a legislative proposal to establish and make operational the European Regulatory Body not later than 31 December 2019. The new Body is intended to replace the European Network of Regulatory Bodies established with Article 57.
Amendment 559 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 9
Article 1 – point 9
Directive 2012/34/EU
Article 63 – paragraph 1 – subparagraph 1
Article 63 – paragraph 1 – subparagraph 1
By 31 December 20240, the Commission shall evaluate the impact of this Directive on the rail sector and shall submit to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions a report on its implementation.
Amendment 561 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 9 a (new)
Article 1 – point 9 a (new)
Directive 2012/34/EU
Article 63 – paragraph 2 a (new)
Article 63 – paragraph 2 a (new)
9a. In Article 63 the following new paragraph 2a is added: 2a. By 2020, the Commission shall also investigate whether the organisation of the national labour market hampers further market opening, integration and the quality of services provided to the customers. If appropriate, the Commission shall propose new legislative measures to ensure a level playing field for all railway undertakings.
Amendment 564 #
2013/0029(COD)
Proposal for a directive
Article 1 – point 9
Article 1 – point 9
Directive 2012/34/EU
Article 63 – paragraph 1 – subparagraph 2
Article 63 – paragraph 1 – subparagraph 2
By the same date, the CommissionEuropean Regulatory Body shall assess whether discriminatory practices or other types of distortion of competition persist in relation to infrastructure managers which are part of a vertically integrated undertakingand shall publish recommendations for further policy measures. The Commission shall, if appropriate, propose new legislative measures based on the recommendations of the network of regulatory bodies.
Amendment 573 #
2013/0029(COD)
Proposal for a directive
Article 3 – paragraph 2
Article 3 – paragraph 2
2. Points 5 to 8 of Article 1 shall apply from 1 January 20187 [in time for the working timetable starting on 14 December 20198].
Amendment 33 #
2013/0028(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) Over the past decade, the growth of passenger traffic by rail has been insufficient to increase its modal share in comparison to cars and aviation. The 6% modal share of passenger transport for rail in the European Union has remained fairly stable. Rail passenger services have not kept pace with evolving needs in terms of availability and quality. However, countries which have opened their market to competition with a combination of open access rights and public service obligations have seen a rise of employment in the rail sector and an increase of number of passenger- kilometres creating new employment opportunities in the rail sector.
Amendment 35 #
2013/0028(COD)
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2 a) To guarantee high service quality to passengers while achieving public passenger transport policy objectives, open access rights should be the rule to be coordinated with mandatory tendering for public service contracts.
Amendment 36 #
2013/0028(COD)
Proposal for a regulation
Recital 2 b (new)
Recital 2 b (new)
(2 b) The direct award of a public service contract should be restricted to specific conditions such as the risk of disruption in the provision of services and thus should be limited in time.
Amendment 44 #
2013/0028(COD)
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) To guarantee high service quality to passengers while achieving public passenger transport policy objectives, open access rights should be the rule to be coordinated with mandatory tendering for public service contracts
Amendment 45 #
2013/0028(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) The establishment of an Internal Market for passenger transport services by rail requires common rules on competitive tendering for public service contracts in this sector to be applied in a harmonised manner in all Member States to ensure a level-playing field between all potential bidders.
Amendment 45 #
2013/0028(COD)
Proposal for a regulation
Recital 2 b (new)
Recital 2 b (new)
(2b) The direct award of a public service contract should be restricted to specific conditions such as the risk of disruption in the provision of services and thus should be limited in time
Amendment 48 #
2013/0028(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) In view of creating framework conditions for enabling society to fully reap the benefits of effective opening of the market for domestic passenger transport services by rail it is important that Member States ensure 1) an adequate level of social protection for the staff of public service operators. 2) a minimum service level during public transport strikes.
Amendment 56 #
2013/0028(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) Preparing railway undertakings for mandatory competitive tendering for public service contracts requires some extra time to allow effective and sustainable internal restructuring of companies to which such contracts were directly awarded in the past. Transitional measures are therefore necessary for contracts directly awardedhe tendering procedure for such contracts should be phased-in between the date of entry into force of this Regulation and 3 December 2019.
Amendment 58 #
2013/0028(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) A maximum annual volume of a public service contract for passenger transport by rail needs to be set in a way thato facilitates competition between small bidders, new entrants and the incumbent operator, for such contracts while allowing competent authorities some flexibility to optimise the volume according to economic and operational considerations.
Amendment 70 #
2013/0028(COD)
Proposal for a regulation
Article 1 – point 2
Article 1 – point 2
Regulation (EC) No 1370/2007
Article 2a – paragraph 1 – point ea (new)
Article 2a – paragraph 1 – point ea (new)
a framework that establishes a minimum level of services during public transport strikes.
Amendment 75 #
2013/0028(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) The establishment of an Internal Market for passenger transport services by rail requires common rules on competitive tendering for public service contracts in this sector to be applied in a harmonised manner in all Member States to ensure a level-playing field between all potential bidders.
Amendment 83 #
2013/0028(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) In view of creating framework conditions for enabling society to fully reap the benefits of effective opening of the market for domestic passenger transport services by rail it is important that Member States ensure (a) an adequate level of social protection for the staff of public service operators. (b) a minimum service level during public transport strikes
Amendment 94 #
2013/0028(COD)
Proposal for a regulation
Article 1 – point 4 – point a
Article 1 – point 4 – point a
Regulation (EC) No 1370/2007
Article 5 – paragraph 4
Article 5 – paragraph 4
Unless prohibited by national law, the competent authorities may decide to award public service contracts directly for a maximum period of five years :
Amendment 94 #
2013/0028(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) Preparing railway undertakings for mandatory competitive tendering for public service contracts requires some extra time to allow effective and sustainable internal restructuring of companies to which such contracts were directly awarded in the past. Transitional measures are therefore necessary for contracts directly awarded between the date of entry into force of this Regulation and 3 December 2019. The tendering procedure for such contracts should be phased-in between the date of entry into force of this Regulation and 3 December 2019
Amendment 106 #
2013/0028(COD)
Proposal for a regulation
Article 1 – point 8 – point b
Article 1 – point 8 – point b
Public service contracts for public passenger transport by rail directly awarded between 1 January 2013 and 2 December 2019 may continue until their expiry date. However they shall, in any event,after the entry into force of this regulation shall not continue after 31 December 202219.
Amendment 183 #
2013/0028(COD)
Proposal for a regulation
Article 1 – point 2
Article 1 – point 2
Regulation (EC) No. 1370/2007
Article 2 a (new) – paragraph 1 – subparagraph 1 – point e a (new)
Article 2 a (new) – paragraph 1 – subparagraph 1 – point e a (new)
(ea) a framework that establishes a minimum level of services during public transport strikes
Amendment 256 #
2013/0028(COD)
Proposal for a regulation
Article 1 – point 2
Article 1 – point 2
Regulation (EC) No. 1370/2007
Article 2 a (new) – paragraph 6 – point b
Article 2 a (new) – paragraph 6 – point b
the maximum annual volume of a public service contract in terms of train-km shall be the higher value of either 10 million train-km or one third of the total national public rail passenger transport volume under public service contract. – one half of the total national public rail passenger transport volume under public service contract for Member states with a total volume not exceeding 100 million train-km/year – one third of the total national public rail passenger transport volume under public service contract for Member states with a total above 100 million train-km/year and not exceeding 200 million train-km/year – one quarter of the total national public rail passenger transport volume under public service contract for Member states with a total exceeding 200 million train- km/year
Amendment 299 #
2013/0028(COD)
Proposal for a regulation
Article 1 – point 4 – point a
Article 1 – point 4 – point a
Regulation (EC) No. 1370/2007
Article 5 – paragraph 4 – subparagraph 1
Article 5 – paragraph 4 – subparagraph 1
Unless prohibited by national law, the competent authorities may decide to award public service contracts directly for a maximum period of five years :
Amendment 407 #
2013/0028(COD)
Proposal for a regulation
Article 1 point 8 – point b
Article 1 point 8 – point b
Regulation (EC) No. 1370/2007
Article 8 – paragraph 2 a (new)
Article 8 – paragraph 2 a (new)
2a. Public service contracts for public passenger transport by rail directly awarded between 1 January 2013 and 2 December 2019 may continue until their expiry date. However they shall, in any event,after the entry into force of this regulation shall not continue after 31 December 202219 .
Amendment 152 #
2013/0025(COD)
Proposal for a directive
Recital 27
Recital 27
(27) Member States should have the possibility to designate an appropriate self- regulatory body of the professions referred to in Article 2(1)(3)(a),(b), and (d) and (e) and those professions and categories of undertaking referred to in article 4 as the authority to be informed in the first instance in place of the FIU. In line with the case law of the European Court of Human Rights, a system of first instance reporting to a self-regulatory body constitutes an important safeguard to uphold the protection of fundamental rights as concerns the reporting obligations applicable to lawyers.
Amendment 353 #
2013/0025(COD)
Proposal for a directive
Article 25 – paragraph 1
Article 25 – paragraph 1
1. For the purposes of this Section, ‘third parties’ shall mean (a) obliged entities who are listed in Article 2, or ; and (b)other institutions and persons situated in Member States or a third country, who apply customer due diligence requirements and record keeping requirements equivalent to those laid down in this Directive and their compliance with the requirements of this Directive is supervised in accordance with Section 2 of Chapter VI.; and (c) self-regulatory bodies as defined in article 33; and (d) member organisations and or federations performing due diligence on their members;
Amendment 432 #
2013/0025(COD)
Proposal for a directive
Article 33 – paragraph 1 – subparagraph 1
Article 33 – paragraph 1 – subparagraph 1
By way of derogation from Article 32(1), Member States may, in the case of the persons referred to in Article 2(1)(3)(a), (b), (d) and (d)e) and those professions and categories of undertaking referred to in Article 4, designate an appropriate self- regulatory body of the profession concerned as the authority to receive the information referred to in Article 32(1).
Amendment 248 #
2013/0012(COD)
Proposal for a directive
Article 4 – paragraph 4
Article 4 – paragraph 4
4. Member States, in close cooperation with regional and local authorities, managing bodies of the port and the industry concerned, shall ensure that shore side electricity supply for waterborne vessels is installed in ports provided that it is cost-effective and has environmental benefits.
Amendment 303 #
2013/0012(COD)
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Member States shall ensure that publicly accessible LNG refuelling points for maritime and inland waterway transport are provided in all maritime ports of the Trans-European Transport (TEN-T) Core Network, in close cooperation with regional and local authorities, managing bodies of the port and the industry concerned, shall ensure that a sufficient number of maritime ports of the Trans-European Transport (TEN-T) Core Network are equipped with publicly accessible LNG refuelling points for maritime and inland waterway transport, within adequate distances, to allow the circulation of LNG vessels Union-wide by 31 December 2020 at the latest.
Amendment 9 #
2012/2298(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Emphasises that a European transport- technology strategy for Europe’s future sustainable mobility should first and foremost promote quality of service, the convenience of passengers and businesses and sustainable mobility and should be based on the Union’s targets and legislation regarding the reduction of energy consumption, traffic noise, air pollutants and greenhouse gas emissions up to 2020, 2030 and 2050, as well as improving health and quality of life, increasing the quality of services and enhancing safety and security;
Amendment 11 #
2012/2298(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Calls on the Commission and Council, in view of the importance of R&I to the whole European economy, to recognise the importance of Horizon2020 and thus finance it adequately;
Amendment 27 #
2012/2298(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that R&I in the area of sustainable mobility should be based on the principle of integration, in particular through the abolition trans-border missing links (interconnections), increased compatibility between and within the systems (interoperability) and a shift to more sustainable modes, such as rail and sustainable waterborne transport (inter and more and better intermodality and co-modality);
Amendment 32 #
2012/2298(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Emphasises the need for stronger research efforts in relation to eco-social knowledge, urban and spatial planning, and technologies in the field of mobility demand and behavioural change aimed at the reduction and avoidancebetter control of transport flows, through, inter alia, innovative mobility management instruments, seamless door-to-door mobility chains, eco-driving and the use of information and communication technologies;
Amendment 57 #
2012/2298(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Strongly supportsAcknowledges the importance of R&I in the area of individual mobility, for example walking, cycling and other mobility tools whose average weight and volume is significantly less than that of the transported body/object;
Amendment 67 #
2012/2298(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for more R&I in relation to the shift from ownership to sharing mobility modelstowards new forms of transport- related service, including car- and bike- sharing; encourages the Commission to intensify its promotion of more collectivised individual mobility and more individualised public and collective transport systems;
Amendment 75 #
2012/2298(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that the need to develop innovative infrastructure and solutions – including greater development of information, payment and reservation systems – that lead to win-win situations in terms of barrier-free accessibility for all passengers and specifically for disabled people and persons with reduced mobility (PRMs), such as users with wheelchairs, buggies, bicycles or heavy luggage;
Amendment 83 #
2012/2298(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls on the Commission to focus its research efforts on further reducing the health and climate impact of different aviation emissions (such as CO2, NOx, sulphur, vapour contrails) in the higher atmosphere while, inter alia, developing observation technologies and cooperation between meteorological services and air traffic management and control systems (ATM/ATC)the various emissions for all modes of transport;
Amendment 87 #
2012/2298(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Stresses the importance of new initiatives such as the pooling of transport and logistics capacity with a view to more efficient goods transport; calls on the Commission to tackle the possible obstacles to such initiatives;
Amendment 6 #
2012/2256(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas the rigidity of labour market regulation in several Member States lacks the flexibility to effectively absorb shocks such as the current crisis; whereas current labour market legislation disproportionally protects insiders and adversely affects the inclusion of young people into the workforce;
Amendment 9 #
2012/2256(INI)
Motion for a resolution
Recital C
Recital C
C. whereas it should be recalled that, in 2007, at the start of the crisis, the average public deficit for the euro area stood at only 0.67 % and was on a declining path towards equilibrium;
Amendment 12 #
2012/2256(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas it should be recalled that, in 2007, at the start of the crisis, the countries which now experience the severest difficulties, had accumulated excessive current account deficits;
Amendment 16 #
2012/2256(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the sharp deterioration of public deficits and debt, which has been seen sincebetween 2007 and 2009 in many Member States, has been triggered by the reaction of governments to the crisis, in the absence of European anticyclical instruments;
Amendment 19 #
2012/2256(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas the average public deficit for the euro area peaked in 2009 at 6.3 % and since then the trend has been reversed with average public deficits in 2010 at 6.2 %, in 2011 at 4.1 % and a further decrease in the first two quarters of 2012;
Amendment 23 #
2012/2256(INI)
Motion for a resolution
Recital E
Recital E
Amendment 33 #
2012/2256(INI)
Motion for a resolution
Recital F
Recital F
F. whereas the Commission forecasts for 2012 have been successivelyneeded to be revised downwards from 1.8 % in spring 2011 to - 0.4 % in autumn 2012 for 2012, partly due to a delay in the implementation of growth enhancing structural reforms; whereas in its autumn forecasts the Commission predicts a GDP growth of a mere 0.1 % for 2013; whereas there are serious doubts as to the accuracy of these 2013 forecasts, since they are likely to be based on an underestimated fiscal multiplier, thereby underestimating the negative effect of current fiscal con will depend on the implementation of the adjustment programmes and growth enhancing strauction on economic growthural reforms;
Amendment 39 #
2012/2256(INI)
Motion for a resolution
Recital G
Recital G
Amendment 45 #
2012/2256(INI)
Motion for a resolution
Recital H
Recital H
Amendment 52 #
2012/2256(INI)
Motion for a resolution
Recital I
Recital I
I. whereas each Member State is suffering fromexperiencing the consequences of its own fiscal tightening and of the synchronised rapid consolidation conducted by the other Member States which is particularly the case for countries in severe economic difficulties;
Amendment 59 #
2012/2256(INI)
Motion for a resolution
Recital J
Recital J
J. whereas this fiscal tightening strin some Member Stategys forces down demand, wages and prices while driving up unemployment; in the short-term; whereas the excessive levels of public and private debt restrict the scope for new activities and investment;
Amendment 61 #
2012/2256(INI)
Motion for a resolution
Recital K
Recital K
K. whereas recent International Monetary Fund (IMF) studies document that gradual and smooth fiscal consolidation is preferable to a strategy of reducing public finance imbalances too rapidly and abruptly but the state of the economy of some Member States does not leave an alternative to regain market access and see investment return;
Amendment 64 #
2012/2256(INI)
Motion for a resolution
Recital L
Recital L
Amendment 69 #
2012/2256(INI)
Motion for a resolution
Recital M
Recital M
Amendment 79 #
2012/2256(INI)
Motion for a resolution
Recital N
Recital N
N. whereas austerity measures adopted by several Member States have reached an unprecedented dimension: the fiscal stance for Greece from 2010 to 2012 amounts to 18 points of GDP, for Portugal, Spain and Italy respectively 7.5, 6.5 and 4.8 points of GDP without any significantbut there are signs of improvement of the economic and fiscal situation and with huge social disruption, calling for a new assessment of the policies imposedshowing that countries need to continue the adjustment path;
Amendment 85 #
2012/2256(INI)
Motion for a resolution
Recital O
Recital O
O. whereas current sovereign interest rates show unprecedentedlarge divergences within the euro area and remain at unsustainable levels for certain Member States;
Amendment 86 #
2012/2256(INI)
Motion for a resolution
Recital O a (new)
Recital O a (new)
Oa. whereas the competitiveness gap within the euro area is reflected in the divergences of sovereign interest rates;
Amendment 87 #
2012/2256(INI)
Motion for a resolution
Recital O b (new)
Recital O b (new)
Ob. whereas high sovereign interest rates in certain euro area Member States are due to a perceived lack of credibility of their capacity to conduct structural reforms;
Amendment 88 #
2012/2256(INI)
Motion for a resolution
Recital O c (new)
Recital O c (new)
Oc. whereas the euro area has failed to use the overall reduction of sovereign interest rates in the first ten years of the euro to close the competitiveness gap, which amongst others has been reflected in persistently large current account deficits and rapidly increasing unit labour costs;
Amendment 89 #
2012/2256(INI)
Motion for a resolution
Recital O d (new)
Recital O d (new)
Od. whereas current adjustment in certain countries would be politically, economically and socially less difficult if the positive economic climate in the first ten years of the euro had been used to adjust;
Amendment 97 #
2012/2256(INI)
Motion for a resolution
Recital P
Recital P
P. whereas surplus countries should have been asked to share the adjustment burden by stimulating their internal demandadjustment is also taking place in surplus countries, notably by adjusting wages;
Amendment 102 #
2012/2256(INI)
Motion for a resolution
Recital Q
Recital Q
Q. whereas the Commission has been unable to make a convincing case that the policy options imposed will deliver over time and that they will impact on society in a fair and acceptable waypolicy options chosen by the Commission will deliver over time;
Amendment 109 #
2012/2256(INI)
Motion for a resolution
Recital R a (new)
Recital R a (new)
Ra. whereas adjustment has to be perceived as credible if investment flows are to return;
Amendment 112 #
2012/2256(INI)
Motion for a resolution
Recital T
Recital T
T. whereas the 2013 Annual Growth Survey (AGS 2013) seeks to set out the economic and social priorities for 2013;
Amendment 115 #
2012/2256(INI)
Motion for a resolution
Recital U
Recital U
U. whereas the fiscal discipline pillar should be developed hand in hand with the solidaritygrowth and democracy pillars;
Amendment 117 #
2012/2256(INI)
Motion for a resolution
Recital U a (new)
Recital U a (new)
Ua. whereas the Single Market is the EU's key engine for growth and jobs through economies of scale and greater competition but Member States show complacency in implementing internal market legislation, particularly the services directive;
Amendment 126 #
2012/2256(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the recognition in the AGS 2013 that growth is necessary in order to exit the crisis, but doubts whether the positive signs of recovery seen by the Commission are accurate; warns of the risk of a continued contraction of economic activity over the coming year resulting from the aggregate negative effect of significant and simultaneous procyclical budget cuts across the euro area and supports the Commission in its view that there are positive signs of recovery; warns of the risk of a relapse over the coming year resulting from a lack of implementation of adjustment programmes and structural reforms;
Amendment 136 #
2012/2256(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission to study seriously the possibility of spreading fiscal adjustment oveputting forward proposals for a lconger period, thereby providing additional temporary room for manoeuvvergence code for Member States' economies with the objective of increasing competitiveness in the whole of the euro area to re-ignite growth as soon as possible;.hrough binding commitments to structural reforms;
Amendment 147 #
2012/2256(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 154 #
2012/2256(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 165 #
2012/2256(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. WelcomNotes the recognition by the Commission of ‘a possible’ adjustment in the deadline for the correction of the excessive deficits as being justified, in full respect of the spirit and the letter of the Stability and Growth Pact; considers, however, that this recognition is already overdueshould only apply in very exceptional cases;
Amendment 169 #
2012/2256(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 173 #
2012/2256(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
Amendment 180 #
2012/2256(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls on the Commission and the Council to balance productive public investment needs with fiscal discipline objectives by accommodating public investment programmestaking into account growth enhancing investment in its assessment of Stability and Convergence Programmes and excessive deficit procedureswhile fully respecting the provisions laid down in EU law;
Amendment 190 #
2012/2256(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls on the Commission to start developing as a matter of urgency a plan which would ensure that elements of fiscal discipline are in parallel followed up with concrete proposals on solidaritygrowth among Member States and democratic legitimacy as part of the Interinstitutional Agreement on the European Semester;
Amendment 197 #
2012/2256(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls on the Commission and the Council to improve substawork on continually improving the quality, the national specificity and the adequacy of the country-specific recommendations, notably through a competent interpretation of the macroeconomic imbalances exercise;
Amendment 210 #
2012/2256(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls on the Commission and the Council to revise the recommended fiscal adjustment policies whenever economies move into recession,aim at guaranteeing minimum levels of social welfare, safeguarding basic labour rights and avoiding a recessionary spiral; calls on the Commission and the Council to propose Union instruments for social protection and minimum social standards in the recommended adjustment policies whenever economies move into recession;
Amendment 219 #
2012/2256(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls also on the Commission to come forward with a holistic approach to tackling growth, which should include include completing the internal market, increasing competition and reducing a genuine European industrial policy and the guarantee that Europe will use all its strength and influence in its external trade relations; calls on the Commission to fully exploit to the full the sources of growth stemming from trade with third countries and establish reciprocity as well as fair tradethrough speeding up the conclusion of ongoing free trade agreementswith Canada, Singapore, Malaysia and India, and launching negotiations with the EU major trading partners such as the USA and Japan; calls on the Commission to include strong socialcontinue to include clauses in trade agreements on the basis of International Labour Organisation labour standards;
Amendment 232 #
2012/2256(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses that determined efforts by Member States to sustain public finances, at an appropriate pace, can only work if excessive macroeconomic imbalances are reduced symmetrically;
Amendment 244 #
2012/2256(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Calls on the Commission to step up enforcement of the implementation of internal market legislation; urges Member States to fully implement internal market legislation, particularly the Services Directive;
Amendment 257 #
2012/2256(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls on the Commission and the Council to engage urgently in the creation of appropriate mechanisms for the common management debt redemption fund based ofn sovereign debtrict conditionality in order to alleviate the debt burden on several Member States and to create the conditions for a future joint issuance setting a limit to the divergence of sovereign financing costs;
Amendment 260 #
2012/2256(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. shares the assessment of the Commission in its blueprint and calls on the Commission and the Council to commit to a concrete and timely bound roadmap to achieve the objectives as set out in the blueprint;
Amendment 267 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – title
Annex - Part 1 – title
RECOMMENDATION 1 CONCERNING AN ALTERNATIVE STRATEGY STRATEGY FOR GROWTH- FRIENDLY FISCAL CONSOLIDATION
Amendment 268 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – introductory paragraph
Annex - Part 1 – introductory paragraph
Amendment 271 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 1
Annex - Part 1 – paragraph 1
Amendment 276 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 1a (new)
Annex - Part 1 – paragraph 1a (new)
1a. Maintain the pace of fiscal consolidation, particularly with regard to restoring confidence of investors, to reducing debt refinancing costs and to creating fiscal room for pro-active policy implementation.
Amendment 277 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 1b (new)
Annex - Part 1 – paragraph 1b (new)
1b. Prioritise investments in education, research and innovation.
Amendment 278 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 1 c (new)
Annex - Part 1 – paragraph 1 c (new)
1c. Modernise social protection systems, particularly with regard to pensions and the alignment of the retirement age with life expectancy.
Amendment 279 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 1 d (new)
Annex - Part 1 – paragraph 1 d (new)
1d. Pursue active labour market policies, particularly by introducing flexicurity schemes.
Amendment 280 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 1 e (new)
Annex - Part 1 – paragraph 1 e (new)
1e. Shift taxes from labour to consumption.
Amendment 281 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 2
Annex - Part 1 – paragraph 2
2. The speculation on the sovereign debt of Member states must be stopped. TIntegrate the European Stability Mechanism (ESM) must be brought as soon as possible into the community management structure with the ECB as a backstop;
Amendment 285 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 3
Annex - Part 1 – paragraph 3
Amendment 289 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 4
Annex - Part 1 – paragraph 4
4. Lending by the European Investment Bank must be significantly increased as well as other measures (notably the use of structural funds and project bonds), so as to genuinely advance the European Union growth agenda. The Compact for Growth and Jobs has to be urgently transformed into concrete investmentsIncrease the lending capacity of the European Investment Bank.
Amendment 293 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 5
Annex - Part 1 – paragraph 5
5. Legal initiatives and policy instruments have to be implemented so that credit flow to the real economy is re-established. Companies, especially SMEs, need to have access to financing and the conditions for such financing should be similar inside the Internal Market, more so inside the eurozoneImprove credit flow to the real economy especially for SMEs.
Amendment 296 #
2012/2256(INI)
Motion for a resolution
Annex - Part 1 – paragraph 6
Annex - Part 1 – paragraph 6
6. A close coordination of economic policies must aim at reducingReduce excessive internal imbalances in the EU and in the Eurozone in particular. The adjustment must not only rely on deficit countries. Surplus countries must also take measures to boost their internal demand and receive recommendations from the Commission accordingly.
Amendment 301 #
2012/2256(INI)
Motion for a resolution
Annex - Part 2 – paragraph 1
Annex - Part 2 – paragraph 1
Amendment 304 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 1
Annex - Part 3 – paragraph 1
Amendment 307 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 2
Annex - Part 3 – paragraph 2
Amendment 309 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 3
Annex - Part 3 – paragraph 3
Amendment 311 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 3 – point 1
Annex - Part 3 – paragraph 3 – point 1
1. Reforming the accounting rules and corporate accounting disclosure
Amendment 312 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 3 – point 1 a (new)
Annex - Part 3 – paragraph 3 – point 1 a (new)
1a. Implement the Commission action plan on tax fraud, tax evasion and tax havens
Amendment 313 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 3 – point 2
Annex - Part 3 – paragraph 3 – point 2
2. Upgradinge and extend the scope of the European Union Savings Directive
Amendment 314 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 3 – point 3
Annex - Part 3 – paragraph 3 – point 3
3. EnsuringIntroduce a compulsory Common Consolidated Corporate Tax Base
Amendment 315 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 3 – point 4
Annex - Part 3 – paragraph 3 – point 4
4. Introducinge country-by-country reporting for cross-border companies.
Amendment 316 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 3 – point 5
Annex - Part 3 – paragraph 3 – point 5
5. Strengthening regulation of company registries and registers of trust.
Amendment 318 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 4
Annex - Part 3 – paragraph 4
Amendment 320 #
2012/2256(INI)
Motion for a resolution
Annex - Part 3 – paragraph 5
Annex - Part 3 – paragraph 5
Amendment 36 #
2012/2234(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Stresses that 2nd pillar systems must be secure, for the sake of employeemust ensure solidarity between generations and reflect the modern work patterns;
Amendment 42 #
2012/2234(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Stresses that there are considerable differences between the Member States in terms of the composition of the 2nd pillar. and its providers;
Amendment 44 #
2012/2234(INI)
Draft opinion
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Demands that EU legislative initiatives should respect the choices made by Member States with regard to the providers of second pillar pensions;
Amendment 51 #
2012/2234(INI)
Draft opinion
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Insists that 2nd pillar pensions, regardless of their providers, should not be jeopardized by EU regulation that does not take into account their long-term horizon;
Amendment 56 #
2012/2234(INI)
Draft opinion
Paragraph 11
Paragraph 11
11. Considers that Commission proposals regarding quantitative and qualitative precautionary measures are only of value if they lay stress onshould takinge into account the differences between the systems and comply strictly with the principle of proportionality in terms of the financial, administrative and technical burden involved;
Amendment 63 #
2012/2234(INI)
Draft opinion
Paragraph 13
Paragraph 13
13. Is strongly opposed toBelieves that Europe-wide harmonised requirements concerning own capital or evaluation; rejects any review of the Pension Funds Directive (the IORP Directive) which aims to achieve this of pension funds may be beneficial and is looking forward to the review of the Pension Funds Directive (the IORP Directive) in this respect; however, does not consider the application of Solvency II requirements to 2nd pillar systems the right instrument;
Amendment 71 #
2012/2234(INI)
Draft opinion
Paragraph 14
Paragraph 14
14. Stresses that the application of the quantitative Solvency II requirements of Solvency II poses a great risk to pillar 2 systems, since these may, as a result of increased costs, be forced in future to accept low; therefore opposes the application of Solvency II requirements to 2nd pillar systems ; however, company pensionalls for to stop them altogether; emphasises that this is not in the interests of employees; therefore concludes that therEuropean approach in setting capital requirements for the pillar 2 systems that will provide for the msust be no provisions at EU level aiming to apply Solvency II to 2nd pillar systemsainability of all pension providers and promote cross-border activity;
Amendment 73 #
2012/2234(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Emphasises the likelihood of a long- term, low-growth economic scenario, which will require Member States to consolidate their budgets and reform their economies under austere conditions; recognizes that this scenario also impacts the financial strength of employers and the active population; subscribes, therefore, to the view expressed in the Commission's White Paper that to the extent that it is possible people will need to build up complementary occupational and if possible private pension savings; points out that, to encourage people to continue saving more and longer for their pension, it is important to maintain and improve fiscal incentives;
Amendment 76 #
2012/2234(INI)
Draft opinion
Paragraph 14
Paragraph 14
14. Stresses that the application of quantitative Solvency II requirements poses a great risk to pillar 2 systems, since these may, as a result of increased costs, be forced in future to accept lower company pensions or to stop them altogether; emphasises that this is not in the interests of employees; therefore concludes that there must be no provisions at EU level aiming to apply Solvency II to 2nd pillar systemrules that do not fully take into account the long-term should not apply to 2nd pillar systems managed by pension funds or insurance companies;
Amendment 88 #
2012/2234(INI)
Draft opinion
Paragraph 16
Paragraph 16
16. Rejects the establishment of equal competition between life insurance andcognizes that, although there are differences between pension funds and life insurance providers, similar 2nd pillar pension systems, as the latter are not financial service providers and can therefore not be compared with re organised and offered by both pension funds and insurance companies alifke insurance provider a number of Member States;
Amendment 104 #
2012/2234(INI)
Draft opinion
Paragraph 21
Paragraph 21
21. Notes that, according to the OECD, there is a lack of mobility between the Member States and that only 3% of working-age EU citizens live in another Member State;* 1 OECD (2012), "Mobility and migration in Europe", p. 63. In: OECD Economic Surveys: European Union 2012, OECD Publishing. 1 believes that the lack of legal certainty for the transfer of pension rights constitutes one of the main obstacles to labour mobility in Europe;
Amendment 108 #
2012/2234(INI)
Draft opinion
Paragraph 22
Paragraph 22
22. StressWelcomes therefore that cross-border pension tracking services are only worthwhile if they are extremely efficient, legally and administratively small-scale and highly cost-effectivee Commission's intention to promote efficient cross-border pension tracking services;
Amendment 121 #
2012/2234(INI)
Motion for a resolution
Paragraph 4 – point ii
Paragraph 4 – point ii
ii. a funded, employment-related, mandatorywide- spread collective second-pillar pension, preferably governed by (sectoral) social partnersgoverned on the level of the sector or on the level of an undertaking;
Amendment 148 #
2012/2234(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Recognises the importance of all pension fundproviders as substantial and reliable long-term investors in the EU economy; emphasises their significance for achieving the Europe 2020 strategy's headline targets concerning economic growth, more and better jobs and attaining socially inclusive societies; urges the Commission not to jeopardise the investment potential of pension fundproviders when introducing or changing EU regulations, especially when reviewing the directive on the activities and supervision of institutions for occupational retirement provision;
Amendment 250 #
2012/2234(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the call in the White Paper for developing funded, complementary occupational pensions and private savings; stresses, however, that the Commission should rather recommend collective mandatory occupational pension savings, as collective (second pillar) pension systems − usual- possibly governed by (sectoral) social partners −- allow for solidarity within and between generations, whereas individual schemes do not; stresses the need to start building up complementary occupational pension systems now, despite the crisis;
Amendment 260 #
2012/2234(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses the low operating costs of (sector wide) collective not-for-profit occupational pension schemespension schemes managed on a large scale, as compared to individual pension savings schemes; emphasises the importance of low operating costs as even limited cost reductions can yield substantially higher pensions;
Amendment 264 #
2012/2234(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Urges the Commission to go further in assisting Member States and social partners to inform citizens properly about their accrued pension entitlements, and to raise their awareness and educate them so that they are able to make well-informed decisions as regards future additional pension savings; calls on the Commission to complement its EU-wide work on pension tracking services by conducting an EU impact assessment to understand the economic benefits of Member States and pension providers providing consolidated pension information to citizens in one accessible place; calls on the Member States to formulate and enforce strict disclosure rules regarding the operating costs and risk and return on investments of pension funds operating within their jurisdiction;
Amendment 294 #
2012/2234(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Notes the Commission's proposal to assess possible linkages between Regulation 883/2004/EC on the coordination of social security systems and ‘'certain’' occupational pension schemes; highlights the practical difficulties experienced in applying the said regulation to the 27 Member States' markedly differing social security systems; points to the complexity of applying a coordination approach to the tens of thousands of very divergent pension schemes operating in the Member States, and therefore questions the practicability of applying such an approach in the field of pensions; stresses the importance of researching the diversity of pension systems in the EU member States;
Amendment 297 #
2012/2234(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Calls on the Commission and the Member States to work ambitiously to set up and maintain tracking services that enable citizens to track their employment- and non-employment-related pension entitlements and thereby make timely and well-informed decisions on additional, individual (third-pillar) pension savings; calls for coordination at EU level to ensure adequate compatibility of the national tracking services; welcomes the Commission's pilot project in this field; and calls on the Commission to ensure that the pilot is complimented by an impact assessment into the economic benefits of the provision of consolidated pension information for EU citizens in one accessible place;
Amendment 149 #
2012/2151(INI)
Motion for a resolution
Recital V a (new)
Recital V a (new)
V a. whereas it is paramount for a return to growth that the internal market is being completed; whereas the Commission as the guardian of the Treaties needs to step up its efforts to enforce implementation of and compliance with existing internal market legislation; whereas for the proper functioning of the internal market it is necessary that market integration rules will be based more on regulations and not on directives;
Amendment 278 #
2012/2151(INI)
Motion for a resolution
Recital AT a (new)
Recital AT a (new)
ATa. whereas the report of the High-Level Group on Financial Supervision chaired by Jacques de Larosière, submitted to the President of the Commission on 25 February 2009, explicitly recommended that the ECB should not be responsible for micro-prudential supervision;
Amendment 279 #
2012/2151(INI)
Motion for a resolution
Recital AT b (new)
Recital AT b (new)
ATb. whereas the following main reasons why de Larosière report states that the ECB should not be responsible for micro- prudential supervision should be taken seriously: - the ECB's fundamental mandate is monetary stability; - jeopardising the ECB's independence due to political pressure and interference in case of a crisis; - a number of ECB/ESCB members have no competence in terms of supervision; - conferring responsibilities to the ECB/Eurosystem would not provide for a comprehensive, integrated system of supervision; - the ECB is not entitled by the Treaty to deal with insurance companies, which can pose a major problem for financial stability;
Amendment 93 #
2012/2115(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Underlines the need to ensure greater transparency in the structure and activities of financial institutions; invites the Commission, taking account of the conclusions of the Liikanen report, to propose legislation to separatlooks forward in this respect to the conclusions of the Liikanen Group and invites the cCommercial and investment banks, in particular in order to avoid the financing of SB activities via savingsission to consider these carefully;
Amendment 28 #
2012/2065(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. UrgesCalls on the EU to make asbestos screening and registration obligatorydevelop and implement proposals for obligatory screening of commercial/public buildings to identify the presence of asbestos containing materials, prepare plans to manage the risks they present and make that information available to workers who may disturb them in accordance with Article 11 Directive 2009/148/EC;
Amendment 36 #
2012/2065(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Urges the EU to establish action plans for owners of public buildings for the safe management and where necessary, removal of asbestos, and to provide information and guidelines to encourage private house owners to auditeffectively audit and risk assess their premises for ACMs;
Amendment 45 #
2012/2065(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Urges the Commission to make mandatory the establishment of public asbestos registers by Member States; work with Member States and Public Administrations to develop effective information sharing systems which would serve to provide relevant information on asbestos risks to workers and employers prior to renovation works being undertaken, and complement existing health and safety protections required under EU law;
Amendment 51 #
2012/2065(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Urges the EU to make it mandatory for building owners to inform the Labour Inspectorateintain requirements set out in Art 4 Directive 2009/148/EC for employers to inform the Responsible Authorities about intended plans for work with ACMs;
Amendment 62 #
2012/2065(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls on the EU to set up minimum requirements for mandatory asbestos- specific qualifications for civil engineers, architects and, employees of registered asbestos removal companies and to provide asbestos-specific qualifications for the training of other workers likely to be exposed to asbestos in accordance with Art 14 (1) Directive 2009/148/EC, as well as working with and supporting the social partners and other stakeholders to organise and run awareness raising activities for workers on the risks arising from asbestos and the need for appropriate training of all staff in the relevant sectors;
Amendment 68 #
2012/2065(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls on the Commission to propose a specific directive with minimum requirements for thework with and support the social partners and others stakeholders to improve implementation of Art 14(2) Directive 2009/148/EC through raising awareness of the need for appropriate training, such as vocational training, of construction and maintenance workers, including construction professionals who are working incidentally with asbestos and to develop information and materials to provide this;
Amendment 76 #
2012/2065(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. UrgesCalls on the EU to start action plans for asbestos removal at European, national and regional levels, which are to include: legislation;work with social partners and other stakeholders at European, national and regional levels to develop and share action plans for asbestos management and removal where necessary in the interest of improved safety. These plans should include: education and information; training for public employees; national and international training; and awareness- raising activities related to the removal ofrisk from asbestos and products containing asbestos from buildings, public amenities and sites of former asbestos factories; cleaning premises, building landfills and installations for the destruction of asbestos and asbestos-containing debris; monitoring of the implementation of regulation(including during removal from buildings); monitoring of the effectiveness of existing legal requirements, exposure assessments of at- risk personnel, and health protection;
Amendment 86 #
2012/2065(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. UrgesCalls on the Commission to lower the limit value for asbestos fibresundertake research to review the existing limit value for asbestos fibres, and if necessary lower it to an acceptable safety level based on the best available scientific evidence;
Amendment 95 #
2012/2065(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls on the Ccommission to immediately revise the provisions on exemptions for chrysotile asbestos in annex XVII of REACHreview progress on the development of chrysotile- free diaphragms used in electrolysis installations, in accordance with REACH, Annex XVII, Part 6;
Amendment 43 #
2012/2056(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers that eCall should be a public technology-neutral EU-wide emergency call system, utilising embedded in the -vehicle andsystems, based on 112 and on common pan-European standards, in order to ensure a reliable and affordable service that can work seamlessly and interoperably across Europe in all automobiles, irrespective of make, country or actual location of the vehicle, thus maximising the benefits of eCall for all drivers;
Amendment 4 #
2012/2055(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the smooth functioning of the internal market and development of a modern, socially inclusive economy depends inter alia on the universal provision of basic banking services and of a socially responsible banking sector;
Amendment 7 #
2012/2055(INI)
Motion for a resolution
Recital B
Recital B
B. whereas access to basic banking services is aone of the preconditions for consumers to benefit from the internal market, notably from cross-border migrationfreedom of movement, money transfer and the purchase of goods and services at non- discriminatory cost; whereas the annual opportunity cost of not having access to a payment account is estimated at between EUR 185 to EUR 365 per consumer;
Amendment 12 #
2012/2055(INI)
Motion for a resolution
Recital C
Recital C
C. whereas currently 7 % of all Union consumers, that is to say 30 million people, are voluntarily or involuntarily excluded from access to basic banking services, with an estimated 7 million having been rejected by payment service providers; whereas financial exclusion is an even greater problem in most EU-12 Member Statevaries from one Member State to another; whereas some Member States have a very low penetration rate of banking accounts;
Amendment 14 #
2012/2055(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. Stresses that every consumer has the right to choose not to have a bank account or a basis bank account; Therefore, consumers should not be obliged to have a bank account or a basic bank account; underlines however in this respect the importance of financial education in pointing out the advantages of financial inclusion;
Amendment 17 #
2012/2055(INI)
Motion for a resolution
Recital D
Recital D
Amendment 19 #
2012/2055(INI)
Motion for a resolution
Recital E
Recital E
Amendment 22 #
2012/2055(INI)
Motion for a resolution
Recital F
Recital F
F. whereas general economic development and social cohesion contribute to high bank account penetration; whereas among Member States, 33 % of the variation in the percentage of the population using a current bank account can be explained by the level of economic development and, therefore, 67 % depend on other factors, such as regulation or self-regulation instruments;
Amendment 25 #
2012/2055(INI)
Motion for a resolution
Recital G
Recital G
G. whereas payment service providers, acting in accordance with market logic, tend to focus on commercially attractive consumers, leaving vulnerabland therefore in certain cases leaving less attractive consumers without the same choice of products; whereas industry codes as initiated in Germany, the United Kingdom, Italy, Ireland, Slovenia and Luxembourg have largelyinter alia been a result of public pressure and demands for legislative initiatives; whereas self- regulation instruments have had positive results but, at the same time, have failed to effectively guarantee universal access to a basic bank accountor mixed results;
Amendment 27 #
2012/2055(INI)
Motion for a resolution
Recital H
Recital H
H. whereas legislative approaches to ensure universal access to basic banking services have had satisfactory results in Belgium and France where the number of unbanked citizens has dropped by 75 % and 30 % respectively, as well as in Finland and Denmark where 100 % of households are covered by banking services, Denmark, France and Finland;
Amendment 32 #
2012/2055(INI)
Motion for a resolution
Recital I
Recital I
I. whereas not all Member States have not reacted adequately to the Commission's above- mentioned Recommendation and in 15 Member States there is still no legal or voluntary requirement for banks to provide basic banking services;
Amendment 36 #
2012/2055(INI)
Motion for a resolution
Recital J
Recital J
J. whereas in order to be effective a basic bank account needs to be straightforward to open, even for those with non-standard proof of identity and and needs to provide a specified range of core services, and; there also need to be measures in place for effective supervision and settlement of conflicts;
Amendment 45 #
2012/2055(INI)
Motion for a resolution
Recital K
Recital K
K. whereas as part of their corporate social responsibility strategies, banks should share responsibility with public authorities and civil society for the provision of access tooffer basic banking services withoutat a reasonable cost;
Amendment 47 #
2012/2055(INI)
Motion for a resolution
Recital L
Recital L
Amendment 53 #
2012/2055(INI)
Motion for a resolution
Recital M
Recital M
M. whereas distortions of compethe main goal of any initiation must be prevented and consumers' needs in under-banked regions must be taken into account and hence the scope of the initiative should be as broad as possible; whereas, in addition to credit institutions, access to core basic banking services could be provided by ove should be access to basic payment services to consumers living in the Union; in this respect, welcomes that besides credit institutions regulated by Directive 2007/64/EC, also other payment service providers are active in providing basic payment services, such as prepaid solutions; Therefore, asks the Commission and the Member States to take into account new developments in ther payment service providers regulated by Directive 2007/64/ECs market when developing any new initiatives in this field;
Amendment 56 #
2012/2055(INI)
Motion for a resolution
Recital M a (new)
Recital M a (new)
Ma. The right to access and use a basic bank account in a Member State should be given to consumers which have a link to the Member State concerned provided that the consumer: 1) does not already hold a bank account in that Member State meeting the requirements of paragraph 17 of this Annex, and 2) provides a declaration of honour or a simple declaration of at least one financial institution in the Member State concerned which demonstrates that in the Member State concerned he has been refused a bank account meeting the requirements of paragraph 17 of this Annex. Non-limitative examples of a link with the Member State concerned are: nationality, place of residence, job related issues, enrolment in an institution that provides education or vocational training, family related issues, or any other factor which could constitute a link with the Member State concerned;
Amendment 58 #
2012/2055(INI)
Motion for a resolution
Recital N
Recital N
N. whereas it should be considered for any initiative for universal access to basic banking services musto be flanked by well-designed communication campaigns raising awareness about consumers' rights and providers' rights and obligations.
Amendment 65 #
2012/2055(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Requests the Commission to submit, by the end ofAsks Member States to take appropriate action by the end of 2012 and to inform the Commission; Requests the Commission to come forward with a detailed state of play of the situation in all Member States by 31 January 2013; If no appropriate action has been taken by the Member States, requests the Commission to submit, by July 20123, on the basis of Article 114 of the Treaty on the Functioning of the European Union, a legislative proposal or proposals ensuring access to basic banking services to all consumers living in the Union, following the detailed recommendations set out in the Annex hereto;
Amendment 72 #
2012/2055(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers that the requested proposal does not have financial implications for the budget of the European Union;
Amendment 81 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 1 – paragraph 1
Annex – recommendation 1 – paragraph 1
1. TheAny European legislation should oblige as manyMember States to ensure access to basic banking services, preferably by obliging payment service providers, as possible, asdefined in Article 4(9) of Directive 2007/64/EC, to provide basic banking services. In this respect, notes that also other payment service providers than those defined in Article 4(9) of Directive 2007/64/EC, to are active in provideing basic banking servicespayment services, such as prepaid solutions; Therefore, it could be useful to take into account these developments in the payment services market as well when developing any new initiatives in this field.
Amendment 82 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 1 – paragraph 1 a (new)
Annex – recommendation 1 – paragraph 1 a (new)
1a. Any legislative initiative should respect the principle of subsidiarity and take into account existing legal or voluntary arrangements in Member States where the right to access and use a basic bank account is already successfully ensured;
Amendment 83 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 1 – paragraph 2
Annex – recommendation 1 – paragraph 2
Amendment 86 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 1 – paragraph 3
Annex – recommendation 1 – paragraph 3
Amendment 94 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 1 – paragraph 4
Annex – recommendation 1 – paragraph 4
Amendment 101 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 5
Annex – recommendation 2 – paragraph 5
5. The legislation should ensure that any consumer, - that is to say any natural person who is acting for purposes other than his trade, business, craft or profession, legally resident - which has a link the Uniono a Member State has the right to open and use a basic bank account with a payment service provider operating in ain that Member State provided that the consumer: 1) does not already hold a basic bank account in that Member State meeting the requirements of Union legislation as specified in these Recommendaparagraph 17 of this Annex, and 2) provides a declaration of honour or a simple declaration of at least one financial institutions in the territory of that Member StateMember State concerned, which demonstrates that in the Member State concerned he has been refused a bank account meeting the requirements of paragraph 17 of this Annex.
Amendment 111 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 6
Annex – recommendation 2 – paragraph 6
6. The legislation should ensure that it is not unduly burdensome for consumers to demonstrate that they do not already hold a basic bank account in the Member State concerned, and provide for a declaration by the consumer to that effect during the application process.
Amendment 114 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 7
Annex – recommendation 2 – paragraph 7
7. The right to access a basic bank account should apply irrespective of the consumer'sin a Member State should apply to consumers who have a link with the Member State concerned. Non-limitative examples of a link with the Member State concerned are: nationality or, place of residence in the Union, job related issues, enrolment in an institution that provides education or vocational training, family related issues, or any other factor which could constitute a link with the Member State concerned. Criteria such as the level or regularity of income, employment, credit history, level of indebtedness, individual situation regarding bankruptcy or future activity of the account should not be taken into account for the opening a basic bank account. Access to a basic bank account should under no circumstances be made conditional on the purchase of other products or services, for instance insurance.
Amendment 120 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 8
Annex – recommendation 2 – paragraph 8
8. The legislation should be applied withA basic bank account prejudice to Union rules, in particular providers’ obligation to terminate the basic bank account contract in exceptional circumstances under relevant Union or national legislation, such as legislation on money laundering. The account may also be closed in case of imposture, abuse of confidence or falsification of documentscan be refused or annulled only in exceptional circumstances, such as in case of 1) incompatibility with the legislation on money laundering, 2) imposture, abuse of confidence or falsification of documents, 3) persistent non-payment of charges, associated with the basic bank account.
Amendment 124 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 9
Annex – recommendation 2 – paragraph 9
9. Member States should be obliged to ensure that due diligence procedures do not lead to discriminatory practices, for instance against marginalised groups, migrants, ethnic or religious minorities or people with no fixed address. Therefore, special consideration should be given to the means by which people with no fixed address can satisfy due diligence requirements and n. National best practices should be taken into account in order to effectively guarantee access to a core range of essential payment services.
Amendment 127 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 10
Annex – recommendation 2 – paragraph 10
10. To facilitate this, basic bank accounts should be classified as low-risk products in accordance with Article 3(3) of and given the money laundering rules, it should be considered how to strike the right balance between the access to a basic bank account and due diligence requirements. In this respect, the link with Commission Ddirective 2006/70/EC laying down implementing measures for Directive 2005/60; providers should be obliged to apply simplified customer due diligence requirements and t/EC of the European Parliament and of the Council as regards the definition of ‘politically exposed person’ and the technical criteria for simplified customer due diligence procedures and for exemption on grounds of a financial activity conducted on an occasional or very limited basis should be clarified. The Commission should aim to further harmonise national interpretations of anti- money laundering rules to ensure that it can no longer be used to deny access to a basic bank account.
Amendment 140 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 3 – paragraph 15
Annex – recommendation 3 – paragraph 15
15. Access to a basic bank account should be free of chargeThe opening of a basic bank account should be free of charge. However, the use of a basic bank account may be charged. All charges related to the use of a basic bank account shall be reasonable, cost- based, and shall be more favourable compared to the provider’s usual pricing policy for comparable bank account products. Member states may introduce maximum charges to be respected at the national level.
Amendment 152 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 3 – paragraph 16
Annex – recommendation 3 – paragraph 16
16. Any default charges should be affordreasonable and at least as favourable as the provider’s usual pricing policy. The legislation should ensure that the consumer does not bear any fee or penalty arising from circumstances independent of his/her will, such as insufficient funds in his account due to late payment of wages or social benefits.
Amendment 163 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 3 – paragraph 17 – section A – subparagraph 1
Annex – recommendation 3 – paragraph 17 – section A – subparagraph 1
The consumerlient should be provided with non- discriminatory access to basic personal service, such as over-the-counter service in branches and to the use of automatic teller machines (ATMs), including other banks’ ATMs where technically possible. The provider should not charge any fees related to the execution of, and the fees, where applicable, should be included in the overall management fee for a basic bank account management services.
Amendment 168 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 3 – paragraph 17 – section B – points (a) - (d)
Annex – recommendation 3 – paragraph 17 – section B – points (a) - (d)
(a) transfers of funds in euro within the European Union via the execution of credit transfers including interbank executions; (b) transfers of funds in euro within the European Union via the execution of payment transactions through a payment card that does not allow the execution of payment transactions that would exceed the current balance of the payment account; (c) the execution of standing orders in euro within the European Union, including interbank executions, in Member States where its use is necessary for the execution of essential transactions; (d) the execution of direct debit in euro within the European Union including interbank executions in Member States where its use is necessary for the execution of essential transactions.
Amendment 171 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 3 – paragraph 17 – section B – subparagraph 1
Annex – recommendation 3 – paragraph 17 – section B – subparagraph 1
For the execution of these services, the consumer should be entitled to non- discriminatory access to the different channels offered by the provider, such as manual transactions, transactions via ATM, online banking and phone banking. Member States should define a sufficient number of standard payment transactions that the provider must, on request, set up and execute on a monthly basis without imposing any charges, regardless of the channel used by the consumer. Where the consumer risks exceeding the maximum number of free transactions the provider should be required to inform the consumer accordingly. The provider should be permitted either to charge additional transactions in a cost-based way and aligned with its usual pricing policy or to refuse the execution of transactions. The provider should be permitted to demand a cost-based one-off charge for providing a payment card.
Amendment 178 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 3 – paragraph 17 – section C
Annex – recommendation 3 – paragraph 17 – section C
A minimum protection of incoming payments against garnishment shcould be included, in accordance with national legislation;
Amendment 183 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 4 – paragraph 18
Annex – recommendation 4 – paragraph 18
18. The legislation should aim to make consumers awareMember States are encouraged to launch campaigns raising awareness among the public about the possiavailability of opening a basic bank accounts. Accordingly, it should be accompanied by an ambitious communication strategy both at Union and Member State level and include duThese communication campaigns should be developed in cooperation with the representatives ofor payment service providers to provide clear information to consumer, consumer organisations or social advisory bodies.
Amendment 188 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 4 – paragraph 19
Annex – recommendation 4 – paragraph 19
Amendment 193 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 4 – paragraph 20
Annex – recommendation 4 – paragraph 20
20. Providers within the scope of the legislation should be required to raise awareness about the availability of basic bank accounts. TMember States should ensure that payment service providers within the scope of the legislation make information available to consumers about they should be required to advertispecific features of the basic bank accounts on offering clear and comprehensive information via different available channels, namely the providers’ website and branches where standardised, durable media should be visible to consumers, their associated charges and their conditions of use. The consumer should also be informed that the purchase of additional services is not compulsory to access a basic bank account.
Amendment 196 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 4 – paragraph 21
Annex – recommendation 4 – paragraph 21
Amendment 202 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 4 – paragraph 23
Annex – recommendation 4 – paragraph 23
23. Member States should be required to ensure that providers provide national authorities with reliable information at least on the number of basic bank accounts opened, the number of applications for basic bank accounts refused and the grounds for such refusals, the number of terminations of such accounts, as well as the charges associated to basic bank accounts on an annual basis. Such information should be provided in an aggregated form.
Amendment 205 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 4 – paragraph 24
Annex – recommendation 4 – paragraph 24
24. Each year, national authoritiMember States should be required to provide the aggregated information as described in paragraph 23 in this annex to the Commission, and the European Banking Authority and the European Parliament, and t. The data should be published in an aggregated and understandable form.
Amendment 208 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 5 – paragraph 26
Annex – recommendation 5 – paragraph 26
26. Member States should be obliged to specify principles for sanctions to be imposed on providers for non-compliance with the basic bank account framework which ensure the sanctions constitute a deterrent, and competent authorities should be required and enabled to impose such sanctions. Funds collected via sanctions should be used for the purpose of the legislation to be adopted, for example for financial education or compensatory payments.
Amendment 212 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 5 – paragraph 27
Annex – recommendation 5 – paragraph 27
Amendment 216 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 5 – paragraph 28
Annex – recommendation 5 – paragraph 28
28. Member States should be obliged to ensure that appropriate and effective complaints and redress procedures are established for the out-of-court settlement of disputes concerning the rights and obligations established under the principles set out in the legislation betweenof payment service providers and consumers, using existing bodies where appropriate. Alternative dispute resolution (ADR) bodies need to be independent, easily accessible accessible and its services free of charge. Its decisions should be legally binding. In order to ensure its impartiality, equal representation of providers, consumers and other users needs to be ensured. Member States should be required to ensure that all basic bank account providers adhere to one or more such bodies implementing such complaint and redress procedures.
Amendment 223 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 6 – paragraph 31 – point (b)
Annex – recommendation 6 – paragraph 31 – point (b)
(b) progress in ensuring access to basic banking services for all citizenoncerned customers in the Union, including both direct and indirect effects of the legislation on the elimination of financial exclusion and on the harmonisation and integration of retail banking throughout the Union;
Amendment 225 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 6 – paragraph 31 – point (c)
Annex – recommendation 6 – paragraph 31 – point (c)
(c) awareness and trust among the publicmong the concerned consumers about the availability and the features of basic bank accounts and consumers’ rights relating to those bank accounts;
Amendment 226 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 6 – paragraph 32
Annex – recommendation 6 – paragraph 32
Amendment 19 #
2012/2042(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Recognises that administrative burdens and financial risks often result in stress and other negative health impacts for employees and owners of SMEs and micro enterprises; emphasises the need for employment and social regulation to contribute to the well-being of entrepreneurs and their employees without creating additional barriers to their success;
Amendment 39 #
2012/2042(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Notes that developing e-government and one stop shops will reduce administrative procedures and create new business opportunities; notes that greater access to procurement markets can assist SMEs in unlocking their potential for job creation; notes that such e-government could be used to provide access to all relevant information on compliance with employment legislation and tax regimes, as well as information on accessing different levels of European, national and regional funding and support schemes for SMEs and micro-enterprises;
Amendment 43 #
2012/2042(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Notes that lack of appropriate infrastructure in rural areas, e.g. broadband internet access, presents a serious barrier to employment and growth, particularly for SMEs, micro- enterprises, the self employed and "self- starters", which could otherwise benefit from location outside cities and high rent areas;
Amendment 46 #
2012/2042(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Notes that costs associated with compliance have a disproportionate effect on SMEs, especially on micro-enterprises; and that these costs can present a major obstacle to expansion of these businesses and their capacity to employ and retain staff; encourages Member States to take this into account when reviewing their national tax and social security regimes;
Amendment 55 #
2012/2042(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Notes and strongly supports the focus on micro-enterprises in a strengthened SME test (see COM(2011)0803) through which all available possibilities such as exclusion from the scope, individual provisions, extended transition periods or lighter regimes are systematically assessed.; emphasises that new employment and social legislation which passes the enhanced SME test should be applied in the simplest form, creating the minimum necessary administrative burden required to achieve its functional objective, and respecting the subsidiarity principle; calls on Member States to carefully consider the intended objective of social legislation, and implement it without "gold-plating" or introducing additional requirements which are not explicitly required under EU law;
Amendment 2 #
2012/2037(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls for financial institutions to be required to provide consumers with adequatepersonalised and transparent information regarding the risks involved in foreign currency lending and the impact on instalments of a severe depreciation of the legal tender of the Member State in which a consumer is domiciled and of an increase of the foreign interest rate; considers that this information should be included in any advertising concerning consumer credit agreements in foreign currency, in pre- contractual information, and in consumer credit agreements;
Amendment 5 #
2012/2037(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Calls for financial institutions to be required, in good time before the consumer is bound by any credit agreement or offer, to provide consumers personalised information needed to compare the credits available on the market, assess their implications and take an informed decision on whether to conclude a credit agreement;
Amendment 8 #
2012/2037(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Calls for financial institutions to be required to provide consumers a warning when, considering the consumer's financial situation, a credit agreement may induce a specific risk for the consumer;
Amendment 10 #
2012/2037(INI)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Calls for financial institutions to be required to ensure that where a credit agreement relates to a foreign currency loan, the consumer shall have the right to convert the loan into an alternative currency, in accordance with a transparent method disclosed to the consumer in pre-contractual information;
Amendment 11 #
2012/2037(INI)
Draft opinion
Paragraph 1 d (new)
Paragraph 1 d (new)
1d. Calls for financial institutions to be required to ensure that for credit agreements in a foreign currency, a trigger credit amount payable or a maximum amount payable is included in the credit agreement; when the trigger credit amount payable or a maximum amount has been reached, the creditor shall warn the consumer of the high rise of the credit amount payable; in this case the consumer shall have the right to convert the loan into an alternative currency; additionally the creditor shall allow the consumer to renegotiate his credit agreement, taking into account the provisions of early repayment;
Amendment 12 #
2012/2037(INI)
Draft opinion
Paragraph 1 e (new)
Paragraph 1 e (new)
1e. Calls for financial institutions to be required to provide the consumer, in good time before the consumer is bound by any credit agreement or offer, a best and worst case scenario based on caps or in the case when the total credit amount in the national currency is not limited by any caps based on data of the currency fluctuations during last 20 years;
Amendment 13 #
2012/2037(INI)
Draft opinion
Paragraph 2
Paragraph 2
Amendment 17 #
2012/2037(INI)
Draft opinion
Paragraph 3
Paragraph 3
Amendment 21 #
2012/2037(INI)
Draft opinion
Paragraph 4
Paragraph 4
Amendment 28 #
2012/2037(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls for financial institutions to be strictly monitored on advertisement and marketing practices in order to avoid misleading or false information when advertising or marketing credit agreements;
Amendment 19 #
2012/2011(COD)
Proposal for a regulation
Recital 123
Recital 123
(123) The processing of personal data concerning health may be necessary for reasons of public interest in the areas of public health, without consent of the data subject. In that context, ‘public health’ should be interpreted as defined in Regulation (EC) No 1338/2008 of the European Parliament and of the Council of 16 December 2008 on Community statistics on public health and health and safety at work, meaning all elements related to health, namely health status, including morbidity and disability, the determinants having an effect on that health status, health care needs, resources allocated to health care, the provision of, and universal access to, health care as well as health care expenditure and financing, and the causes of mortality. Such processing of personal data concerning health for reasons of public interest should not result in personal data being processed for other purposes by third parties such as employers, insurance and banking companies, except in those cases when they are participating in the organisation and execution of the social security system.
Amendment 36 #
2012/2011(COD)
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
4. Consent shall not provide a legal basis for the processing, where there is a significant imbalance between the position of the data subject and the controller. There shall be no significant imbalance when the data processing is clearly intended to have legally or financially advantageous consequences for the data subject, particularly in the employment context or when protecting against risk.
Amendment 112 #
2012/0366(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 8
Article 2 – paragraph 1 – point 8
Amendment 133 #
2012/0366(COD)
Proposal for a directive
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 148 #
2012/0366(COD)
Proposal for a directive
Article 3 – paragraph 3
Article 3 – paragraph 3
3. Member States shall notify the Commission of the maximum yields that they set for other emissions of cigarettes and for emissions of tobacco products other than cigarettes. Taking into account internationally agreed standards, where available, and based on scientific evidence and on the yields notified by Member States, the Commission shall be empowered to adopt delegated acts in accordance with Article 22 to adopt and adapt maximum yields for other emissions of cigarettes and for emissions of tobacco products other than cigarettes that increase in an appreciable manner the toxic or addictive effect of tobacco products beyond the threshold of toxicity and addictiveness stemming from the yields of tar, nicotine and carbon monoxide fixed in paragraph 1.
Amendment 219 #
2012/0366(COD)
Proposal for a directive
Article 8 – paragraph 3
Article 8 – paragraph 3
3. For cigarette packets the general warning and the information message shall be printed on the lateral sides of the unit packets. These warnings shall have a width of not less than 20 mm and a height of not less than 43 mm and shall cover 50% of the surface on which they are printed. For roll-your- own tobacco the information message shall be printed on the surface that becomes visible when opening the unit packet. Both the general warning and the information message shall cover 50% of the surface on which they are printed.
Amendment 252 #
2012/0366(COD)
Proposal for a directive
Article 9 – paragraph 1 – point e
Article 9 – paragraph 1 – point e
(e) be positioned at the top edge of the unit packet and any outside packaging, and in the same direction as any other information appearing on the packaging;
Amendment 286 #
2012/0366(COD)
Proposal for a directive
Article 10 – paragraph 1 – subparagraph 2 a (new)
Article 10 – paragraph 1 – subparagraph 2 a (new)
Amendment 289 #
2012/0366(COD)
Proposal for a directive
Article 10 – paragraph 3 a (new)
Article 10 – paragraph 3 a (new)
3a. However, in the case of unit packets intended for products other than cigarettes, the most visible surface of which exceeds 75 cm2, the warnings referred to in paragraph 2 shall cover an area of at least 22,5 cm2 on each surface. That area shall being creased to 24 cm2 for Member States with two official languages and 26,25 cm2 for Member States with three official languages.
Amendment 301 #
2012/0366(COD)
Proposal for a directive
Article 10 – paragraph 5
Article 10 – paragraph 5
Amendment 321 #
2012/0366(COD)
Proposal for a directive
Article 12 – paragraph 1 a (new)
Article 12 – paragraph 1 a (new)
1a. The provision in paragraph 1 c will not apply to cigars and pipe tobacco;
Amendment 322 #
2012/0366(COD)
Proposal for a directive
Article 12 – paragraph 2
Article 12 – paragraph 2
Amendment 339 #
2012/0366(COD)
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
1. A unit packet of cigarettes shall have a cuboid shape. A unit packet of roll-your- own tobacco shall have the form of a pouch, i.e. a rectangular pocket with a flap that covers the opening. The flap of the pouch shall cover at least 70% of the front of the packet. A unit packet of cigarettes shall include at least 20 cigarettes. A unit packet of roll-your-own tobacco shall contain tobacco weighing at least 40 g.
Amendment 343 #
2012/0366(COD)
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
Amendment 347 #
2012/0366(COD)
Proposal for a directive
Article 13 – paragraph 3
Article 13 – paragraph 3
Amendment 356 #
2012/0366(COD)
Proposal for a directive
Article 13 – paragraph 4
Article 13 – paragraph 4
Amendment 376 #
2012/0366(COD)
Proposal for a directive
Article 14 – paragraph 10
Article 14 – paragraph 10
10. Tobacco products other than cigarettes and roll-your-own tobacco shall be exempted from the application of paragraph 1 to 8 during a period of 510 years following the date referred to in paragraph 1 of Article 25.
Amendment 475 #
2012/0366(COD)
Proposal for a directive
Article 26 – paragraph 1 – point a
Article 26 – paragraph 1 – point a
(a) tobacco productscigarettes and roll-your-own tobacco;
Amendment 482 #
2012/0366(COD)
Proposal for a directive
Article 26 – paragraph 1 a (new)
Article 26 – paragraph 1 a (new)
Member States may allow tobacco products other than cigarettes and roll- your-own tobacco, which are not in compliance with this Directive, to be placed on the market until [Publications Office, please insert the exact date: entry into force + 42 months]:
Amendment 9 #
2012/0298(APP)
Proposal for a recommendation
Recital J
Recital J
J. whereas, because of the difference in scope between the initial Commission proposal for a common FTT and existing national financial transaction tax regimes this enhanced cooperation in regard to FTT maycannot be regarded as furthering the Union's objectives, protecting its interests and reinforcing its integration process within the meaning of Article 20 TEU,
Amendment 10 #
2012/0298(APP)
Proposal for a recommendation
Recital L
Recital L
L. whereas enhanced cooperation will respect the rights, competences and obligations of the non-participating Member States, inasmuch as the possibility of raising harmonised FTT on the territories of the participating Member States does not affect the availability or the conditions of raising FTT on the territories ofxtraterritorial aspects of enhanced cooperation have not been fully considered to ensure that it will respect the rights, competences and obligations of the non-participating Member States,
Amendment 19 #
2012/0298(APP)
Proposal for a recommendation
Recital O a (new)
Recital O a (new)
Oa. whereas Parliament can only give its consent after a robust analysis of the consequences of the initial Commission proposal for a common FTT, on participating and on non-participating countries as well as on the internal market as a whole is undertaken,
Amendment 21 #
2012/0298(APP)
Proposal for a recommendation
Recital O b (new)
Recital O b (new)
Ob. whereas prior to the introduction of FTT, the Commission should demonstrate that enhanced cooperation will not undermine the internal market or economic, social and territorial cohesion; whereas the Commission should also demonstrate that FTT does not constitute a barrier to, or discrimination in trade between, Member States, and that it does not distort competition between them,
Amendment 23 #
2012/0298(APP)
Proposal for a recommendation
Recital O c (new)
Recital O c (new)
Oc. whereas prior to the introduction of FTT, the Commission should demonstrate that any enhanced cooperation will respect the competences, rights and obligations of non-participating Member States,
Amendment 25 #
2012/0298(APP)
Proposal for a recommendation
Recital O d (new)
Recital O d (new)
Od. whereas the Commission must closely monitor the implementation of FTT with regard to Articles 326 and 327 TFEU and must report annually to the European Parliament and to the Council on any adverse affects this has in respect of those provisions,
Amendment 27 #
2012/0298(APP)
Proposal for a recommendation
Paragraph 1
Paragraph 1
1. CDeclines to consents to the proposal for a Council decision, without prejudice to which Member States participate;
Amendment 35 #
2012/0186(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) Roadworthiness testing is a part of a wider regime ensuring that vehicles are kept in a safe and environmentally acceptable condition during their use. This regime should cover periodic roadworthiness tests for all vehicles and roadside technical inspection for vehicles used for commercial road transport activities as well as provisions on a vehicle registration procedure to ensure that vehicles. Periodic testing should be the main tool to ensure roadworthiness. Roadside inspections of commercial vehicles should only be complementary to periodic tests and target vehicles on the road which constitute an immediate risk to road safety are not used on roads.
Amendment 39 #
2012/0186(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) The roadside inspections should be implemented via a risk rating system. The Member States may use the risk rating system established in accordance with Article 9 of Directive 2006/22/EC of the European Parliament and the Council of 15 March 206 provided that a sufficient degree of harmonisation of periodic roadworthiness testing has been achieved between all Member States and a system onf minimum conditions futual recognition of roadwor the implementation of Council Regulation (EEC) No 3820/85 and (EEC) No 3821/85 concerning social leginess certificates can be established. The European Commission should draft a report on progress in the harmonislation relating to road transport activities and repealing Council Directive 88/599/EECprocess in order to determine when such a mutual recognition could be established.
Amendment 40 #
2012/0186(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) This Regulation should apply to commercial vehicles with a design speed exceeding 25 km/h of the categories defined in Directive 2007/46/EC of the European Parliament and the Council of 5 September 2007 establishing a framework for the approval of motor vehicles and their trailers, and of systems, components and separate technical units intended for such vehicles and to wheeled tractors of Category T5 as laid down by Directive 2003/37/EC on type-approval of agricultural or forestry tractors, their trailers and interchangeable towed machinery, together with their systems, components and separate technical units. It should however not prevent the Member States from carrying out roadside inspections on vehicles not covered by this Regulation or to check other aspects of road transport, in particular those related to driving and resting time, or the transport of dangerous goods.
Amendment 68 #
2012/0186(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 9
Article 3 – paragraph 1 – point 9
(9) 'roadside inspection’ means an unexpected inspection of the roadworthiness of a commercial vehicle or a wheeled tractor of Category T5 with a maximum design speed exceeding 40 km/h circulating on roads open to public traffic within the territory of a Member State carried out by the authorities, or under their direct supervision;
Amendment 97 #
2012/0186(COD)
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. DriversMember States shall require that the undertaking responsible for the operation of a vehicle registered in any Member State shall keep on board the roadworthiness certificateproof of test, such as a sticker, a certificate or any other easily accessible information, corresponding to the latest roadworthiness test and the report of the last roadside inspection, when they are available.
Amendment 114 #
2012/0186(COD)
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 2 – point b
Article 10 – paragraph 1 – subparagraph 2 – point b
(b) carry out a visual assessment of the condition of the vehicle and of its cargo.
Amendment 138 #
2012/0186(COD)
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
Amendment 140 #
2012/0186(COD)
Proposal for a regulation
Article 13 – paragraph 1 – subparagraph 1 (new)
Article 13 – paragraph 1 – subparagraph 1 (new)
The European Commission shall put forward a legislative proposal concerning load securing in order to harmonise cargo securing in the European Union by 2014;
Amendment 43 #
2012/0184(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) Roadworthiness testing is a part of a wider regime ensuring that vehicles are kept in a safe and environmental acceptable condition during their use. This regime should cover periodic roadworthiness tests for all vehicles and roadside technical inspection for vehicles used for commercial road transport activities as well as provisions on a vehicle registration procedure to ensure tha. Periodic testing should be the main tool to ensure roadworthiness. Roadside inspections of commercial vehicles should only be complementary to periodic tests and target vehicles which constitute an immediate risk to road safety are not used on roads.
Amendment 81 #
2012/0184(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) Odometer fraud is considered to affect between 5% and 12% of used cars sales, resulting in a very important cost to society of several billions Euros yearly and in an incorrect evaluation of a roadworthiness condition of a vehicle. With a view to combat odometer fraud, the recording of mileage in the roadworthiness certificate combined with the obligation to present the certificate of the previous test would facilitate the detection of tampering or manipulation of the odometer. Odometer fraud should also be more systematically considered as an offence liable to a penalty. To combat odometer fraud more effectively, Member States should gather mileage registration in a central database.
Amendment 85 #
2012/0184(COD)
Proposal for a regulation
Recital 25 a (new)
Recital 25 a (new)
(25a) Since the objective of this Regulation should be to encourage further harmonisation and standardisation of periodic roadworthiness testing of vehicles, which should eventually lead to the establishment of a Single Market for periodic roadworthiness testing in the European Union with a system of mutual recognition of roadworthiness testing certificates which allows vehicles to be tested in any Member State, the European Commission should draft a report on progress in the harmonisation process in order to determine when such a mutual recognition could be established;
Amendment 172 #
2012/0184(COD)
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. Roadworthiness tests shall be carried out only by the competent authority of a Member State or by testing centres authorised by Member Stata public body entrusted with the task by the State or by bodies or establishments certified and supervised by the State, including authorised private bodies.
Amendment 223 #
2012/0184(COD)
Proposal for a regulation
Article 5 – paragraph 3
Article 5 – paragraph 3
3. The holder of the registration certificate may request the testing centre, or the competent authority or the bodies or establishments certified and supervised by the State if relevant, to carry out the roadworthiness test during a period extendstarting from the beginning of the month preceding the month of the anniversary date referred to in paragraph 1 until the end of the second month following this date, without affecting the date for the next roadworthiness test.
Amendment 242 #
2012/0184(COD)
Proposal for a regulation
Article 8 – paragraph 2 a (new)
Article 8 – paragraph 2 a (new)
(2a) Without prejudice to Article 5, in case of registration of a vehicle origination from another Member State, Member State shall recognise a roadworthiness certificate issued by any other Member State, as if it had itself issued the roadworthiness certificate, provided the certificate is valid within the frequency of the re-registering Member State. In cases of doubt, Member States may verify the roadworthiness certificate before recognising it. Member States shall communicate to the Commission a description of the roadworthiness certificate before the date of application of this Directive. The Commission shall inform the Committee referred to in Article 16.
Amendment 263 #
2012/0184(COD)
Proposal for a regulation
Article 11 – paragraph 2 a (new)
Article 11 – paragraph 2 a (new)
(2a) To meet minimum requirements in terms of quality management, testing centres shall comply with the requirements of the authorising Member State. Testing centres shall ensure the objectivity and the high quality of the vehicle testing.
Amendment 269 #
2012/0184(COD)
Proposal for a regulation
Article 12 – paragraph 3
Article 12 – paragraph 3
3. Inspectors employed or authorised by competent authorities of the Member States or a testing centre at the date of application of this Regulation shall be exempted from the requirements laid down in Annex VI, point 1. The Member States shall deliver a certificate of equivalence to these inspectors.
Amendment 291 #
2012/0184(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
The Commission shall examine the feasibility, costs and benefits of the establishment of an electronic vehicle information platform with a view to exchange information on data related to roadworthiness testing and odometer readings between the competent authorities of Member States responsible for testing, registration and vehicle approval, the testing centres and the vehicle manufacturers, through implemented IT solutions ..
Amendment 168 #
2012/0175(COD)
Proposal for a directive
Recital 41
Recital 41
(41) Cross-selling practices are a common strategy for retail financial service providers throughout the Union. They can provide benefits to consumers but can also represent practices where the interest of consumers is not adequately considered. For instance, certain forms of cross-selling practices or products, namely tying practices where two or more financial services are sold together in a package and at least one of thosean insurance service or product is sold together in a package with another financial service or product and the main financial services or products of that package is not available separately, can distort competition and negatively affect consumers' mobility and their ability to make informed choices. An example of tying practices can be the necessary opening of current accounts when an insurance service is provided to a consumer in order to pay the premiums or the necessary conclusion of a motor insurance contract when a consumer credit is provided to a consumer in order to insure the financed car. While practices of bundling, where two or more financialan insurance services or products are is sold together in a package, but each of the services with another financial service or product, but the main financial service or product of that package can also be purchased separately, may also distort competition and negatively affect customer mobility and customers' ability to make informed choices, they at least leave choice to the customer and may therefore present less risk to the compliance of insurance intermediaries with their obligations under this directive. The use of such practices should be carefully assessed in order to promote competition and consumer choice. The offer of a comprehensive insurance policy, for example fire insurance covering losses due to natural catastrophes also, is not a cross-selling practice. Such a policy provides consumers with extensive insurance protection. This directive regulates cross- selling of financial products. The Unfair Commercial Practices Directive 2005/29/EC remains applicable for practices of cross-selling of financial services or products with non-financial services or products.
Amendment 203 #
2012/0175(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 3 – subparagraph 1
Article 2 – paragraph 1 – point 3 – subparagraph 1
3. ‘insurance mediation’ means the activities of advising on , proposing or carrying out other work preparatory to the conclusion of contracts of insurance, concluding such contracts or assisting in the administration and performance of such contracts, in particular in the event of a claim , and the activity of professional management of claims and loss adjusting. These activities. The activities of advising on, proposing or concluding contracts of insurance shall be considered to be insurance mediation also if carried on by an employee of an insurance undertaking in direct contact with the client, without the intervention of an insurance intermediary.
Amendment 227 #
2012/0175(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 15
Article 2 – paragraph 1 – point 15
Amendment 235 #
2012/0175(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 19
Article 2 – paragraph 1 – point 19
(19) ‘'tying practice’' means the offering to a consumer of one or more ancillary servicefinancial services or products with a main finsuranceancial service or product in a package where this insuranceinvolving at least one insurance service or product, and where the main financial service or product is not made available to the consumer separately.
Amendment 239 #
2012/0175(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 20
Article 2 – paragraph 1 – point 20
(20) ‘'bundling practice’' means the offering to a consumer of one or more ancillary servicefinancial services or products with a main finsuranceancial service or product in a package where this insuranceinvolving at least one insurance service or product, and where the main financial service or product is also made available to the consumer separately but not necessarily on the same terms or conditions as when offered bundled with the ancillary services.
Amendment 244 #
2012/0175(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 20 a (new)
Article 2 – paragraph 1 – point 20 a (new)
(20a) 'consumer' means a consumer as defined in Article 2(a) of the Unfair Commercial Practices Directive 2005/29/EC.
Amendment 374 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point c – point i
Article 17 – paragraph 1 – point c – point i
(i) it gives independent advice on the basis of a fair analysis,n analysis of a sufficiently large number of insurance products available on the market; or
Amendment 378 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point c – point ii
Article 17 – paragraph 1 – point c – point ii
(ii) it is under a contractual obligation to conduct insurance mediation business exclusively with one or more insurance undertakinggives advice on the basis of an analysis of a limited number of insurance products. In that case, it shall provide the names of those insurance undertakings, with which it may and does business; or
Amendment 379 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point c – point iii
Article 17 – paragraph 1 – point c – point iii
(iii) it is not under a contractual obligation to conduct insurance mediation business exclusively with one or more insurance undertakings and does not give advice on the basis of a fair analysis. In that case, it shall provide the names of the insurance undertakings with which it may and does conduct business gives no advice;
Amendment 510 #
2012/0175(COD)
Proposal for a directive
Article 21 – paragraph 2
Article 21 – paragraph 2
2. When an insurance service or product is offered together with another service or product as a packageIn case of bundling practices, the insurance undertaking or, where applicable, the insurance intermediary shall offer and inform the custoonsumer that it is possible to buy the componentsmain financial service or product of the package separately and shall provide information of the costs and charges of each componenprice of the main financial service or product of the package that may be bought through or from it separately.
Amendment 520 #
2012/0175(COD)
Proposal for a directive
Article 21 – paragraph 2 a (new)
Article 21 – paragraph 2 a (new)
2a. This article shall not apply to the offer to a consumer of comprehensive insurance policies, where one insurance policy covers various interrelated insurable risks.
Amendment 16 #
2012/0082(COD)
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) Member States must ensure that vehicle registration authorities act in accordance with what is set out in this Regulation. Consequently, mutual recognition and electronic exchange of data are essential.
Amendment 21 #
2012/0082(COD)
Proposal for a regulation
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
Where the holder of the registration certificate moves his normal residence to another Member State, he shall request registration of a vehicle registered in another Member State within a period of sixthree months following his arrival.
Amendment 64 #
2012/0065(COD)
Proposal for a directive
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
1a. In establishing an effective system for the inspection of maritime labour conditions, Member States may, where appropriate, authorise public institutions or other organisations (including those of another Member State, if the latter agrees) which it recognises to be competent and independent to carry out inspections. In all cases, the Member State shall remain fully responsible for the inspection of the working and living conditions of the seafarers concerned on ships that fly its flag.
Amendment 65 #
2012/0065(COD)
Proposal for a directive
Article 3 – paragraph 1 b (new)
Article 3 – paragraph 1 b (new)
1b. Each Member State shall establish clear objectives and standards covering the administration of its inspection systems, as well as adequate overall procedures for its assessment of the extent to which those objectives and standards are being attained.
Amendment 66 #
2012/0065(COD)
Proposal for a directive
Article 3 – paragraph 1 c (new)
Article 3 – paragraph 1 c (new)
1c. The interval between inspections shall not exceed three years.
Amendment 67 #
2012/0065(COD)
Proposal for a directive
Article 4 – paragraph 1
Article 4 – paragraph 1
1. A Member States shall ensure that the institutions or other organisations referred to in Article 3 (1b) and those members of their staff in charge of verifying the proper implementation of Directive 2009/13/EC hasve the training, competence, terms of reference, powers, status and independence necessary or desirable so as to enable them to carry out that verification and ensure compliance with that Directive.
Amendment 147 #
2012/0061(COD)
Proposal for a directive
Recital 10
Recital 10
(10) Adequate and effective implementation and enforcement are key elements in protecting the rights of posted workers, whereas poor enforcement undermines the effectiveness of the Union rules applicable in this area. CIt is therefore essential to establish and maintain close cooperation between Member States, the Commission, and the Member States is therefore essential, without neglecting the important role ofrelevant national, regional, and local actors including labour inspectorates and the social partners in this respect.
Amendment 169 #
2012/0061(COD)
Proposal for a directive
Recital 24
Recital 24
Amendment 173 #
2012/0061(COD)
Proposal for a directive
Recital 25
Recital 25
Amendment 176 #
2012/0061(COD)
Proposal for a directive
Recital 26
Recital 26
Amendment 247 #
2012/0061(COD)
Proposal for a directive
Article 6 – paragraph 3
Article 6 – paragraph 3
3. For the purpose of responding to a request for assistance from competent authorities in another Member State, Member States shall ensure that service providers established in their territory supply their competent authorities with all the information necessary for supervising their activities in compliance with their national laws. Where service providers fail to provide such information, appropriate action must be initiated by the competent authorities within the host state, and where appropriate in cooperation with the competent authorities of the state of establishment.
Amendment 165 #
2012/0029(COD)
Proposal for a regulation
Recital 31
Recital 31
(31) In order to avoid settlementminimise risks due to the insolvency of the settlement agent, a CSD participant should settle, whenever practical and available, the cash leg of theits securities transactions through accounts opened with a central bank. If this option is not practical and available, a CSD should be able for the CSD participant, a CSD may offer to settle through commercial bank accounts opened with a credit institution established under the conditions provided in Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions and subject to a specific authorisation procedure and prudential requirements provided in Title IV of this Regulation. The latter, when acting as settlement agent, should be ableis only allowed to provide to the CSD's participants the services set out in this Regulation, which are covered by the authorisation, and may otherwise provide other services not covered by this Regulation.
Amendment 171 #
2012/0029(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) Considering that Directive 2006/48/EC does not address specifically intraday credit and liquidity risks resulting from the provision of banking services ancillary to settlement, credit institutions providing such services should also be subject to specific enhanced credit and liquidity risk mitigation requirements that should apply to each securities settlement system in respect of which they act as settlement agents. In order to ensure full compliance with specific measures aimed at mitigating credit and liquidity risks, the competent authorities should be able to require CSDs to designate more than one credit institution whenever they can demonstrate, based on the available evidence, that the exposures of one credit institution to the concentration of credit and liquidity risks is not fully mitigateda CSD authorised as credit institution, or a designated credit institution providing such services should also be subject to specific enhanced credit and liquidity risk mitigation requirements.
Amendment 174 #
2012/0029(COD)
Proposal for a regulation
Recital 33
Recital 33
(33) The requirement that the settlement ofA CSD that intends to settle the cash leg of the securities transaction be carried out by a separate legal entity acting as settlement agent is an important measure to incres in commercial bank cash accounts hase the safety and resilience of CSDs. Such a separation between core services of CSDs and banking services ancillary to settlement appears indeed indispensible for eliminating any danger of transmission of the risks from the banking services, such as credit and liquidity risks, to the provision of core services of CSDs. There are no less intrusive measures available for eliminating those credit and liquidity risks in order to ensure the envisaged level of safety and resilience of CSDs. However, in order to secure the efficiencies resulting from the provision of both CSD and banking services within the same group of undertakings, the requirement that banking services be carried out by a separate credit institution should not prevent that credit institution from belonging to the same group of undertakings as the CSD. If both CSD option to either designate a separate credit institution as settlement agent, or to act as settlement agent itself. The settlement agent should be authorised as a credit institution and follow all relevandt banking services are provided within the same group of undertakings, in order to increase the safety and efficiency of the services provided, the activities of the credit institution providing banking services should be limited to the provision of banking services ancillary to settlement. Furthermore, a derogation to the obligation to separatlaws and regulations. To ensure that the related credit and liquidity risk are limited, the settlement agent is only authorised to perform those banking services that support the provision of CSD core banking services ancillary to settlement from core CSD services should be available in d ancillary services. The settlement agent should also comply withe absence of any danger of transmission of credit and liquidity risks from the banking services to the provision ofdditional rules on management of its credit and liquidity risk (that corme services of CSDs. In order to ensure a consistent application of the possibility to derogate from the obligation on CSDs not to provide any banking type of ancillary services, the Commission should be empowered to decide, at the request of a national competent authority, whether any such derogationon top of the regular banking laws and rules). As market infrastructure, the CSD shall establish recovery plans that ensure continuity of its permitted in view of the absence of systemic risk incurred by the provision of both CSD core and banking services by the same legal entity. In any case, the activities of a CSD benefiting from any such derogation and authorised as a credit institution should be limited exclusively to the provision of banking services ancillary to settlementcritical operations including its banking services. It should also provide more transparency on its intraday credit and liquidity risk.
Amendment 332 #
2012/0029(COD)
Proposal for a regulation
Article 16 – paragraph 3
Article 16 – paragraph 3
3. An authorised CSD shall notonly be exposed to any risks related to the provision of banking type of ancillary services by the credit institution designated to provide such services in accordance with Title IV.
Amendment 335 #
2012/0029(COD)
Proposal for a regulation
Article 16 – paragraph 4
Article 16 – paragraph 4
4. An authorised CSD may only have a participation in a legal person whose activities are limited to the provision of services set out in Sections A, B and BC of the Annex, unless the competent authority is satisfied that such participation does not put the continuity of the CSD's operations at risk.
Amendment 525 #
2012/0029(COD)
Proposal for a regulation
Article 52 – paragraph 1
Article 52 – paragraph 1
1. A CSD shall not provide itself any banking type of ancillary services set out in Section C of the Annexthat intends to settle the cash leg of all or part of its securities settlement system in accordance with Article 37(2) of this Regulation shall either : (i) designate for this purpose an authorised credit institution as provided in Title II of Directive 2006/48/EC in accordance with paragraphs 3 to 5a, or (ii) undertake directly those banking services in accordance with paragraphs 2a to 5a.
Amendment 535 #
2012/0029(COD)
Proposal for a regulation
Article 52 – paragraph 2
Article 52 – paragraph 2
Amendment 551 #
2012/0029(COD)
Proposal for a regulation
Article 52 – paragraph 2 a (new)
Article 52 – paragraph 2 a (new)
2 a. A CSD shall be able to obtain authorisation to undertake limited banking services. It should therefore – in addition to its authorisation as CSD: (i) be authorised as a credit institution as provided in Title II of Directive 2006/48/EC. It shall comply with all laws and regulations applicable to credit institutions; (ii) have in place adequate recovery plans aiming at continuity of its critical operations including the activity authorised under its banking licence; (iii) publicly report in its annual Pillar 3 disclosure, as required under Directive 2006/48/EC, an overview of its intraday credit and liquidity risks and how these risks are managed.
Amendment 560 #
2012/0029(COD)
Proposal for a regulation
Article 52 – paragraph 3
Article 52 – paragraph 3
3. A CSD which has not requested or obtained an authorisation in accordance with paragraph 2a and that intends to settle the cash leg of all or part of its securities settlement system in accordance with Article 37(2) of this Regulation shall obtain authorisation to designate for this purpose an authorised credit institution as provided in Title II of Directive 2006/48/EC, unless the competent authority referred to in Article 53(1) of this Regulation demonstrates, based on the available evidence, that the exposure of one credit institution to the concentration of risks under Article 57(3) and (4) of this Regulation is not sufficiently mitigated. In the latter case, the competent authority referred to in Article 53(1) may require the CSD to designate more than one credit institution. The designated credit institutions shall be considered as settlement agents. The designated credit institution is subject to the requirements in paragraphs 5 and 5a.
Amendment 565 #
2012/0029(COD)
Proposal for a regulation
Article 52 – paragraph 4
Article 52 – paragraph 4
Amendment 577 #
2012/0029(COD)
Proposal for a regulation
Article 52 – paragraph 5
Article 52 – paragraph 5
5. Whenever the CSD and the designated credit institution belong to a group of undertakings ultimately controlled by the same parent undertaking, the authorisation as provided in Title II of Directive 2006/48/EC of such designated credit institution shall be limited exclusively to the provision of the banking type of ancillary services that it is authorised to provide in accordance with paragraph 3 of this Article. The same requirement applies in respect of a CSD that has been granted a derogation under paragraph 2 of this ArticleThe authorisation granted in accordance with Title II of Directive 2006/48/EC of a CSD authorised according to paragraph 2a or of a credit institution designated in accordance with paragraph 3 shall be limited exclusively to the provision of the banking type of ancillary services supporting core and ancillary CSD services as included in Sections A and B of the Annex. Therefore, for purposes of the previous paragraph, the activities listed in Annex 1 of Directive 2006/48/EC, Sections 1, 2, 4, 6, 7 (b) and 7(e), may only be performed within the limits set out under Section C of the Annex. The activities listed in Annex 1 of Directive 2006/48/EC in Sections 3, 5, 7 (except (b) and (e)), 9, 10, 11, 13 and 15 may not be performed unless indicated in Section C of the Annex.
Amendment 584 #
2012/0029(COD)
Proposal for a regulation
Article 52 – paragraph 5 a (new)
Article 52 – paragraph 5 a (new)
5 a. Any CSD that has been authorised as a credit institution according to paragraph 2a and any credit institution designated in accordance with paragraph 3 shall be subject to the fulfilment of the prudential and supervision requirements provided in Articles 42, 57 and, in case of a credit institution, 58.
Amendment 597 #
2012/0029(COD)
Proposal for a regulation
Article 54 – paragraph 1
Article 54 – paragraph 1
1. A CSD that intends to extend the banking type of ancillary services which it provides or for which it designates a credit institution shall submit a request for extension to the competent authority of the Member State where that CSD is established.
Amendment 611 #
2012/0029(COD)
Proposal for a regulation
Article 57 – paragraph 1
Article 57 – paragraph 1
1. A CSD authorised as a credit institution or a credit institution designated to provide banking type of ancillary services shall provide the services set out in Section C of the Annex that are covered by the authorisationbe limited in its banking functions in accordance with Article 52.
Amendment 617 #
2012/0029(COD)
Proposal for a regulation
Article 57 – paragraph 2
Article 57 – paragraph 2
2. A CSD authorised as a credit institution or a credit institution designated to provide banking type of ancillary services shall comply with any present or future legislation applicable to credit institutions.
Amendment 621 #
2012/0029(COD)
Proposal for a regulation
Article 57 – paragraph 3 – introductory part
Article 57 – paragraph 3 – introductory part
3. A CSD authorised as a credit institution or a credit institution designated to provide banking type of ancillary services shall comply with the following specific prudential requirements for the credit risks related to these services in respect of each securities settlement system:
Amendment 626 #
2012/0029(COD)
Proposal for a regulation
Article 57 – paragraph 4 – introductory part
Article 57 – paragraph 4 – introductory part
4. A CSD authorised as a credit institution or a credit institution designated to provide banking type of ancillary services shall comply with the following specific prudential requirements for the liquidity risks related to these services in respect of each securities settlement system:
Amendment 664 #
2012/0029(COD)
Proposal for a regulation
Annex 1 – section C – title
Annex 1 – section C – title
Amendment 666 #
2012/0029(COD)
Proposal for a regulation
Annex 1 – section C – point 1
Annex 1 – section C – point 1
Amendment 667 #
2012/0029(COD)
Proposal for a regulation
Annex 1 – section C – point 1
Annex 1 – section C – point 1
1. Banking type of services for the participants to a securities settlement system related to the settlement service, such asThe services involving credit and liquidity risk shall contribute to the CSDs’ role of enhancing safety, efficiency and transparency of securities markets. These services shall be provided only to support the provision of core and ancillary services as included under Sections A and B of this Annex, such as: (a) As defined in point 1 of the Annex I of the Directive replacing Directives 2006/48 and 2006/49, Acceptance of deposits and other repayable funds, - Acceptance of cash deposits from participants; (b) As defined in point 2 of the Annex I of the Directive replacing Directives 2006/48 and 2006/49, lending including, inter alia: consumer credit, credit agreements relating to immovable property, factoring, with or without recourse, financing of commercial transactions (including forfeiting), - Cash lending for intended reimbursement no later than the following business day; - Lending of securities; (c) As defined in point 4 of the Annex I of the Directive replacing Directives 2006/48 and 2006/49, payment services as defined in Article 4 (a3) Providof Directive 2007/64/EC, - Processing of cash accounts; transactions, including the cash leg of DVP settlements; - Processing of foreign exchange instructions from participants; (bd) Accepting cash deposits; (c) Providing cash credit; (d) Lending securitis defined in point 6 of the Annex I of the Directive replacing Directives 2006/48 and 2006/49, guarantees and commitments, - In particular related to the securities lending and borrowing services provided by the CSD (as per Section B paragraph 1 point (a) of this Annex); (e) As defined in point 7 of the Annex I of the Directive replacing Directives 2006/48 and 2006/49, trading for own account or for account of customers, - Treasury activities basically related to the management of the participants’ long balances.
Amendment 679 #
2012/0029(COD)
Proposal for a regulation
Annex 1 – section C – point 2
Annex 1 – section C – point 2
Amendment 446 #
2012/0011(COD)
Proposal for a regulation
Recital 34
Recital 34
(34) Consent should not provide a valid legal ground for the processing of personal data, where there is a clear imbalance between the data subject and the controller. This is especially the case where the data subject is in a situation of dependence from the controller, among others, where personal. There is no imbalance when the data are processed byin the employercontext of employees’ personal data in the employment contextment or risk protection. Where the controller is a public authority, there would be an imbalance only in the specific data processing operations where the public authority can impose an obligation by virtue of its relevant public powers and the consent cannot be deemed as freely given, taking into account the interest of the data subject.
Amendment 991 #
2012/0011(COD)
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
4. Consent shall not provide a legal basis for the processing, where there is a significant imbalance between the position of the data subject and the controller. There shall be no significant imbalance when the data are processed in the context of employment or contracts protecting against risk.
Amendment 3132 #
2012/0011(COD)
Proposal for a regulation
Article 91 – paragraph 2 – subparagraph 1
Article 91 – paragraph 2 – subparagraph 1
It shall apply from [two years from the date referred to in paragraph 1] without prejudice to the use of personal data lawfully processed before that date.
Amendment 3 #
2011/2181(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Underlines the importance of creating a more transparent, stable and reliable corporate sector able to take economic, social and ethical concerns into account in its practices;
Amendment 6 #
2011/2181(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Considers that, in the wake of the financial crisis, lessons can be learned from the principal shortcomings in the business world;
Amendment 6 #
2011/2181(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Considers that, in the wake of the financial crisis, lessons can be learned from the principal bankruptcies in the business world;
Amendment 8 #
2011/2181(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Advocates, nonetheless, a certain restraint in this context and calls for every proposal to be assessed very critically in the light of the objectives to be attained and the cost-benefit ratio of such proposals;
Amendment 8 #
2011/2181(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Considers that, in the wake of the financial crisis, lessons can be learned from the principal bankruptcies in the business world;
Amendment 8 #
2011/2181(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Advocates, nonetheless, a certain restraint in this context and calls for every legislative proposal to be assessed very critically in the light of the objectives to be attained and the cost-benefit ratio of such proposals;
Amendment 9 #
2011/2181(INI)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Stresses the need to achieve better functioning of, and compliance with, existing governance rules and recommendations rather than imposing binding European corporate governance rules;
Amendment 9 #
2011/2181(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Advocates, nonetheless, a certain restraint in this context and calls for every legislative proposal to be assessed very critically in the light of the objectives to be attained and the cost-benefit ratio of such proposals;
Amendment 9 #
2011/2181(INI)
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Stresses the need to achieve better functioning of, and compliance with, existing governance rules and recommendations rather than imposing binding European corporate governance rules;
Amendment 10 #
2011/2181(INI)
Draft opinion
Paragraph 1 d (new)
Paragraph 1 d (new)
1d. Does not consider a ‘one size fits all approach’ to be helpful in view of the considerable diversity of companies within Europe and in particular the difference between listed and unlisted companies;
Amendment 10 #
2011/2181(INI)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Stresses the need to achieve better functioning of, and compliance with, existing governance rules and recommendations rather than imposing binding European corporate governance rules;
Amendment 10 #
2011/2181(INI)
Motion for a resolution
Paragraph 1 d (new)
Paragraph 1 d (new)
1d. Is convinced that voluntary codes of conduct are the most efficient way of achieving good corporate governance;
Amendment 11 #
2011/2181(INI)
Draft opinion
Paragraph 1 d (new)
Paragraph 1 d (new)
1d. Does not consider a ‘one size fits all approach’ to be helpful in view of the considerable diversity of companies within Europe and in particular the difference between listed and unlisted companies;
Amendment 11 #
2011/2181(INI)
Motion for a resolution
Paragraph 1 e (new)
Paragraph 1 e (new)
1e. Expresses a preference, in this context, for the ‘comply or explain’ method; considers that, as part of this, businesses which have a justified reason not to comply with corporate governance regulations should explain in detail the decisions in question and describe the alternative solutions that they have adopted;
Amendment 12 #
2011/2181(INI)
Draft opinion
Paragraph 1 e (new)
Paragraph 1 e (new)
1e. Is convinced that voluntary codes of conduct are the most efficient way of achieving good corporate governance;
Amendment 13 #
2011/2181(INI)
Draft opinion
Paragraph 1 f (new)
Paragraph 1 f (new)
1f. Expresses a preference, in this context, for the ‘comply or explain’method; considers that, as part of this, businesses which have a justified reason not to comply with corporate governance regulations should explain in detail the decisions in question and describe the alternative solutions that they have adopted;
Amendment 14 #
2011/2181(INI)
Draft opinion
Paragraph 1 g (new)
Paragraph 1 g (new)
1g. Considers that this ‘comply or explain’ method will benefit most from a monitoring system which assigns priority to transparency and under which it is possible to ensure that information is reliable and of high quality;
Amendment 15 #
2011/2181(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Believes that a ‘comply or explain’ approach is the most appropriate framework to apply to EU listed companies, providing a firm regulatory framework in which companies are accountable to the shareholders that provide their capital and are also required by law to report on their corporate governance practice; considers that this ‘comply or explain’ method will benefit most from a monitoring system which assigns priority to transparency and under which it is possible to ensure that information is reliable and of high quality;
Amendment 17 #
2011/2181(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Points out that corporate governance should, among other things, facilitate relations withcan facilitate relations with a company’s various stakeholders, including employees, who contribute to, and are dependent on, their company’s success and performance, and is disappointed that this aspect was completely ignored in the Green Paper;
Amendment 19 #
2011/2181(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that a basic set of EU corporate governance measures should apply to all listed companies, no matter what their sizeDoes not consider a ‘one size fits all approach’ to be helpful in view of the considerable diversity of companies within Europe and in particular the difference between listed and unlisted companies;
Amendment 27 #
2011/2181(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Is of the opinion that employee participation in decision-making should be promoted and strengthenedrespected in line with national and European law, as should co- determination schemes;
Amendment 30 #
2011/2181(INI)
Draft opinion
Paragraph 4
Paragraph 4
Amendment 41 #
2011/2181(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls for greater gender diversity in company boardsdiversity and complementarity of expertise and experience in company boards, and for attention to be devoted to sufficient gender diversity within them;
Amendment 51 #
2011/2181(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Is of the view that the inclusion of stock options as part of remuneration schemes should be minimised, and a sustainable remuneration policy is desirable and should be based on the long-term functioning of the individeually phased out and replaced by sustainable long-term remuneration policies; supports, however, the promotion of voluntary employee share ownership schem and his company; considers that companies should be free to decide their remuneration policies, including the possibility of offering share options, and that the use of share options in remuneration policy should be properly disclosed and subject to minimum vesting periods in order to avoid conflicts of interest;
Amendment 60 #
Amendment 62 #
2011/2181(INI)
Draft opinion
Paragraph 7 – indent 1
Paragraph 7 – indent 1
Amendment 64 #
2011/2181(INI)
Draft opinion
Paragraph 7 – indent 2
Paragraph 7 – indent 2
– external evaluation of the boards and management committees of listed companies, to be carried out at least every three years, along with an (annual) evaluation carried out by the board itself in accordance with the Commission’s recommendations1;
Amendment 65 #
2011/2181(INI)
Draft opinion
Paragraph 7 – indent 3
Paragraph 7 – indent 3
– disclosure of all board members’ business activities, including activities connected with more than onell posts held on other boards;
Amendment 49 #
2011/2096(INI)
Motion for a resolution
Paragraph 1 – indent 2
Paragraph 1 – indent 2
– that, by 2014, a proposal should be submitted to provide for the internalisation of the external costs of all modes of transport, whilst avoiding double charging and market distortions, in order to increase investments in mobility, safety and research; the internalisation of external costs should only relate to the transport itself and not to the transhipment activities or the activities of industrial and logistics installations that are performed in the transhipment platforms, ports or terminals, since this could lead to double charging and could disadvantage intermodal transport operations;
Amendment 82 #
2011/2096(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the completion of the European internal transport market should be aimed for, without neglecting economic, employment and social aspects, and calls on the Commission to ensure that proposals on liberalising the airport, rail, road, and other markets do not lead to social dumping or private monopolies;
Amendment 302 #
2011/2096(INI)
Motion for a resolution
Paragraph 15 – indent 4 a (new)
Paragraph 15 – indent 4 a (new)
- the elimination of the restrictions on cabotage, as these lead to a distortion of the internal market;
Amendment 326 #
2011/2096(INI)
Motion for a resolution
Paragraph 16 – indent 3
Paragraph 16 – indent 3
– a proposal on a 20% increase in the number of multi-modal connections (platforms) for better integration of inland waterway transport into the co- modal transport and logistics chain through a 20% increase in finland waterways, inland ports and rail transcial support for better multimodal connections to and from inland ports by 2020, compared with 2010 figures, and corresponding fand for the creation of additional multimodal platforms and inlancial supportd ports, if needed;
Amendment 336 #
2011/2096(INI)
Motion for a resolution
Paragraph 16 – indent 4
Paragraph 16 – indent 4
– the dedication of at least 130% of TEN-T funding to inland waterwayprojects that improve sustainable and multimodal connections of seaports, inland ports and multimodal platforms, with an emphasis on waterborne transport projects;
Amendment 1 #
2011/2094(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Stresses that the completion of the internal market for all transport modes needs to be and remain the main goal of the European transport policy;
Amendment 2 #
2011/2094(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Considers it necessary to strengthen the transparency of all the costs and charges in the transport sector as a precondition for assessing eligibility for state support, including regional services, and reiterates, therefore, its call on the Commission to publish on the one hand a report with an overview of all state aid offered to the public transport sector, and on the other hand an overview of indirect support such as taxation, levies, infrastructure financing and charges for the different transport modes and their effect on inter- and intramodal competition;
Amendment 9 #
2011/2094(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Reaffirms its commitment to making a reality of the Single European Railway Area, where non-discriminatory access to the rail network is crucial; calls on the Member States and the Commission to speed up liberalisation of the railway transport sector and to guarantee fair competition;
Amendment 16 #
2011/2094(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Recalling that the Commission has launched a number of infringement procedures against Member States for not properly implementing the First Railway Package, stresses the need for a strong and independent regulatory bodyies, on national and European level, to safeguard the rail market;
Amendment 19 #
2011/2094(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Stresses that, in view of the level of indebtedness of companies in the railway sector in the new Member States, historic debt cancellation should continue to be permitted under certain conditions and in particular if such cancellation helps to ease the way to an open rail market;
Amendment 22 #
2011/2094(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Calls on the Commission to monitor closely state support granted to low-cost air carriers and to ensure fair allocation and effective use of slots;
Amendment 27 #
2011/2094(INI)
Draft opinion
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Calls on the Commission to ensure fair and transparent allocation and effective use of slots, awaits its proposal in this regard;
Amendment 36 #
2011/2094(INI)
Draft opinion
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Reminds the Commission that the road freight market is not fully open yet; expresses its disappointment with the current rules on cabotage;
Amendment 185 #
2011/2071(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Believes that the introduction of the ‘European Semester’ and enhanced fiscal policy coordination should leave enough scope and flexibility to the EU Member States to pursue an effective alternative counter-cyclical strategy and stability policy, geared to distribution and development and providing an adequate level of public services and infrastructure for EU citizensthe policies they believe appropriate in accordance with the EU 2020 strategy;
Amendment 209 #
2011/2071(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Emphasises that steps needed to improve the European economic governance capacity should not lead to any deficit in democratic legitimacy and accountability; warns, therefore, against a set-up of the Annual Growth Survey as a bureaucratic act which lacks the approval of the European Parliamentbelieves that the European parliament should therefore hold a debate and give its opinion after the publication of the Annual Growth Survey by the Commission;
Amendment 253 #
2011/2071(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Calls on the Commission and the Council to ensure an equal treatmentthe full implementation of 2020 targets and flagship initiatives in their guidance and recommendations addressed to each Member State and the EU as a whole;
Amendment 300 #
2011/2071(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Underlines the role of the economic dialogue with the European Parliament adopted with the economic governance package, which consists of enabling the Commission to make its analyses public and for the President of the Council, the Commissa dialogue between the European institutions and, where appropriate, the President of the European Council or the President of the Eurogroup to discuss on surveillance procedures (the Stability and Growth Pact and macro-economic imbalances); recalls that, when the Commission makes its studies public, one or more of the ministers of economics and finance involved might respond, thereby initiating a debate across borders and enabling peer pressure, which the current provisions have failed to make possibles well as with the national level to initiate a cross-border and public debate, increase the transparency and enable peer pressure; the relevant committee of the EP may invite the President of the Commission, of the Eurogroup and of the European Council and offer the opportunity to a Member State concerned by decisions in the EDP and/or EIP to participate in an exchange of views;
Amendment 330 #
2011/2071(INI)
Motion for a resolution
Paragraph 48
Paragraph 48
48. Calls for the development of the concept of a European Treasury to strengthen the implementation capacity of the European semester and the economic pillar of EMU; the future institutional developments should be made taking into account the evolution of the EFSF and the ESM;
Amendment 333 #
2011/2071(INI)
Motion for a resolution
Paragraph 49
Paragraph 49
49. Underlines that the policy guidance to Member States partly concerns policy areas like wages and pensions that in line with Article 153 of the TFEU fall under the competences of Member States and social partners, but shall be supported and complemented by the European Union, in line with Article 153 of the TFEU; emphasizes that democratic accountability needs to be ensured and the principles of subsidiarity and social dialogue to be respected in order to preserve the policy space required for National implementation;
Amendment 41 #
2011/0439(COD)
Proposal for a directive
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) ‘postal services’ means services consisting of the clearance, sorting, routing and delivery of domestic postal items. This shall include both services falling within as well as services falling outside and services falling within the scope of the universal service set up in conformity with Directive 97/67/EC;
Amendment 9 #
2011/0437(COD)
Proposal for a directive
Recital 6
Recital 6
(6) Concessions are contracts for pecuniary interest concluded between one or more economic operators and one or more contracting authorities or entities and having as their object the acquisition of works or services where the consideration consists, normally, in the right to exploit the works or services that are the subject of the contract. The execution of these works or services is subject to specific binding obligations defined by the contracting authority or entity which are legally enforceable. By contrast, certain State acts such as authorisations or licences whereby the State or a public authority establishes the conditions for the exercise of an economic activity, should not qualify as concessions. The same applies to certainEqually, agreements having as their object the right of an economic operator to exploit certain public domains or resources, such as public domain and private land lease contracts whereby the State or contracting authority or entity only establishes only general conditions for their use without acquiring specific works or servicesand/or specific binding and legally enforceable obligations that relate to the use of the land without acquiring specific works or services, should not qualify as concessions. In the framework of these public domain and private land lease contracts, the following terms are to be considered as conditions and obligations that purely aim at regulating the use of the land: the use to which the public domain or resource is to be put (e.g. description and permissible use, obligations that aim at optimising the use, such as performance benchmarks or environmental standards), the obligations of the contracting parties regarding the maintenance of the public domain or resource, the fee or rent and the incidental charges to be paid by the tenant (including penalties for breach of contract).
Amendment 30 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 a (new)
Article 8 – paragraph 5 – subparagraph 1 a (new)
This Directive shall not apply to contracts for public domain and private land lease contracts whereby the State or contracting authority or entity only establishes general conditions and/or specific binding and legally enforceable obligations that relate to the use of the land, without acquiring specific works or services.
Amendment 38 #
2011/0417(COD)
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1a) In order to ensure that all benefits of this Regulation are seized, the financial support instruments for SMEs in Horizon 2020 and the options for SME financing under this Regulation need to be aligned.
Amendment 42 #
2011/0417(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) In order to clarify the relationship between this Regulation and rules on collective investment undertakings and their managers, it is necessary to establish that this Regulation should only apply to managers of collective investment undertakings, other than UCITS in accordance with Article 1 of Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), who are established in the Union and are registered with the competent authority in their home Member State in accordance with Directive 2011/61/EC of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010. Furthermore, it should only apply to managers who manage portfolios of qualifying venture capital funds whosethe total assets under management in totalof which initially do not exceed a threshold of EUR 500 million. In order to make the calculation of this threshold operVenture capital fund managers who are registered under this Regulational, and the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of specifying the calculation of this threshold. When exercising this empowerment, the Commission should, in order to ensure consistency in rules on collective investment undertakings, take into account measures adopted by the Commission in accordance with point (a) of Article 3 (6) of Directive 2011/61/EC. total assets of which subsequently exceed the threshold of EUR 500 million, and who therefore become subject to authorisation with the competent authorities of their home Member State in accordance with Article 6 of Directive 2011/61/EU, should be able to continue to use the designation "European Venture Capital Fund" and operate under this Regulation in relation to the marketing of qualifying venture capital funds in the Union, provided that they continue to comply with this Regulation at all times in relation to qualifying venture capital funds.
Amendment 47 #
2011/0417(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) In line with the aim of precisely circumscribing the collective investment undertakings which will be covered by this Regulation and in order to ensure their focus on providing capital to small undertakings in the initial stages of their corporate existence, the designation ‘European Venture Capital Fund’ should be restricted only to those funds that dedicate at least 70 percent of their aggregate capital contributions and uncalled committed capitalfter deduction of all relevant costs, to investments in such undertakings inwhich take the form of equity or quasi equity instrumalifying investments, short-term holdings in cash or cash equivalents.
Amendment 51 #
2011/0417(COD)
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) Managers of a qualifying venture capital fund should be able to attract additional capital commitments during the lifetime of that fund.
Amendment 57 #
2011/0417(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) In order to allow venture capital fund managers a certain degree of flexibility in the investment and liquidity management of their qualifying venture capital funds, secondary trading should be permitted up to a maximum threshold not exceeding 30 percent of aggregate capital contributions and uncalled capital investmenfter deduction of all costs. Short term holdings of cash and cash equivalents should not be taken into account when calculating this limit.
Amendment 61 #
2011/0417(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) In order to ensure that qualifying venture capital funds do not contribute to the development of systemic risks, and so as to ensure that such funds concentrate, in their investment activities, on supporting qualifying portfolio companies, borrowing or leverage at the level of the fund should not be permitted only to the extent of the uncalled committed capital. However, in order to permit the fund to cover extraordinary liquidity needs that might arise between the call of committed capital from investors and the actual reception of the capital in its accounts, short-term borrowing should be allowed.
Amendment 71 #
2011/0417(COD)
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
1. This Regulation applies to managers of collective investment undertakings as defined in point (b) of Article 3 who are established in the Union and are subject to registration with the competent authorities of their home Member State in accordance with point (a) of Article 3 (3) of Directive 2011/61/EC, provided that those managers manage portfolios of qualifying venture capital funds, whosethe total assets under management in totalof which initially do not exceed a threshold of EUR 500 million or, in the Member States where the Euro is not the official currency, the corresponding value in the national currency on the date of the entry into force of this Regulation. Venture capital fund managers that are registered under this Regulation in accordance with Article 13, and the total assets of which exceed the EUR 500 million following that registration, and that therefore become subject to authorisation with the competent authorities of their home Member State in accordance with Article 6 of Directive 2011/61/EU, may continue to use the designation "European Venture Capital Fund" and may continue to operate under the conditions of this Regulation in relation to the marketing of qualifying venture capital funds in the Union, provided that they continue to comply with this Regulation at all times in relation to the qualifying venture capital funds.
Amendment 75 #
2011/0417(COD)
Proposal for a regulation
Article 2 – paragraph 3
Article 2 – paragraph 3
Amendment 76 #
2011/0417(COD)
Proposal for a regulation
Article 3 – point a
Article 3 – point a
(a) ‘qualifying venture capital fund’ means a collective investment undertaking that invests at least 70 percent of its aggregate capital contributions, and uncalled committed capitalfter deduction of all relevant costs, in assets that are qualifying investments, short-term holdings in cash or cash equivalents;
Amendment 83 #
2011/0417(COD)
Proposal for a regulation
Article 3 – point c – introductory part
Article 3 – point c – introductory part
(c) ‘qualifying investments’ means equity or quasi equity instruments that are:
Amendment 85 #
2011/0417(COD)
Proposal for a regulation
Article 3 – point c – point i
Article 3 – point c – point i
(i) equity or quasi-equity instruments that are issued by a qualifying portfolio undertaking and acquired directly byfor the benefit of the qualifying venture capital fund from the qualifying portfolio undertaking, or
Amendment 87 #
2011/0417(COD)
Proposal for a regulation
Article 3 – point c – point ii
Article 3 – point c – point ii
(ii) equity or quasi-equity instruments that are issued by a qualifying portfolio undertaking in exchange for an equity security issued by the qualifying portfolio undertaking, or
Amendment 88 #
2011/0417(COD)
Proposal for a regulation
Article 3 – point c – point iii
Article 3 – point c – point iii
(iii) equity or quasi-equity instruments that are issued by an undertaking of which the qualifying portfolio undertaking is a majority-owned subsidiary and which is acquired by the qualifying venture capital fund in exchange for an equity instrument issued by the qualifying portfolio undertaking;
Amendment 90 #
2011/0417(COD)
Proposal for a regulation
Article 3 – point c – point iii a (new)
Article 3 – point c – point iii a (new)
(iiia) shares of a qualifying portfolio undertaking acquired from existing shareholders of that undertaking;
Amendment 92 #
2011/0417(COD)
Proposal for a regulation
Article 3 – point c – point iii b (new)
Article 3 – point c – point iii b (new)
(iiib) units or shares of one or several other qualifying venture capital funds.
Amendment 96 #
2011/0417(COD)
Proposal for a regulation
Article 3 – point f
Article 3 – point f
(f) ‘'quasi-equity’' means any instrument,type of financing instrument which is a combination of equity and debt or which has a debt element and whose return is predominantly based on the profits or losses of the qualifying portfolio undertaking and which is unsecured in the event of default;
Amendment 102 #
2011/0417(COD)
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. The venture capital fund manager shall ensure that, when acquiring assets other than qualifying investments, no more than 30 percent of the fund's aggregate capital contributions, and uncalled committed capitalfter deduction of all relevant costs, is used for the acquisition of assets other than qualifying investments; short term holdings in cash and cash equivalents shall not be taken into account for calculating this limit.
Amendment 107 #
2011/0417(COD)
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The venture capital fund manager shall notbe allowed only to the extent of its uncalled committed capital to borrow, issue debt obligations, provide guarantees, at the level of the qualifying venture capital fund, nor employ at the level of the qualifying venture capital fund any method by which the exposure of the fund will be increased, whether through borrowing of cash or securities, the engagement into derivative positions or by any other means.
Amendment 109 #
2011/0417(COD)
Proposal for a regulation
Article 5 – paragraph 3
Article 5 – paragraph 3
3. The prohibition set out in paragraph 2 shall not apply to borrowing for a non- renewable term of no longer than 1280 calendar days to provide liquidity between a call for and receipt of committed capital from investors.
Amendment 118 #
2011/0417(COD)
Proposal for a regulation
Article 6 – point b a (new)
Article 6 – point b a (new)
(ba) those other investors present to the venture capital fund manager an assessment made by a credit institution, another professional of the financial sector subject to Directive 2004/39/EC, or by a management company within the meaning of Directive 2009/65/EC certifying their expertise, their experience and their knowledge in adequately appraising an investment in risk capital;
Amendment 119 #
2011/0417(COD)
Proposal for a regulation
Article 6 – point c
Article 6 – point c
Amendment 121 #
2011/0417(COD)
Proposal for a regulation
Article 6 – point d
Article 6 – point d
Amendment 124 #
2011/0417(COD)
Proposal for a regulation
Article 6 – point e
Article 6 – point e
Amendment 142 #
2011/0417(COD)
Proposal for a regulation
Article 17
Article 17
The competent authority of the home Member State shall supervise compliance with the requirements set out in this Regulation. Where the competent authority of the host Member State has clear and demonstrable grounds for believing that the venture capital fund manager is in breach of this Regulation within its territory, it shall promptly inform the competent authority of the home Member State accordingly. The home Member State shall take appropriate measures.
Amendment 145 #
2011/0417(COD)
Proposal for a regulation
Article 23 – paragraph 2
Article 23 – paragraph 2
2. The delegation of power referred to in paragraph 3 of Article 2 and paragraph 5 of Article 8 shall be conferred on the Commission for a period of four years from the date of entering into force of this Regulation. The Commission shall draw up a report in respect of the delegation of powers not later than nine months before the end of the four year period. The delegation of power shall be tacitly extended for periods of an identical duration, unless the European Parliament or the Council opposes such extension not later than three months before the end of each period.
Amendment 149 #
2011/0417(COD)
Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 1 a (new)
Article 24 – paragraph 1 – subparagraph 1 a (new)
The review shall also include a survey on the possible negative or positive impact of other European financial regulations and of European financing instruments for SMEs on the functioning of the rules in this Regulation.
Amendment 29 #
2011/0401(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
Horizon 2020 shall be implemented in a manner ensuring that the priorities and actions supported are relevant to changing needs and take account of the evolving nature of science, technology, innovation, markets and society, where innovation includes business, organisational and social aspects. Technology neutrality is an absolutely essential precondition for an effective innovation policy.
Amendment 32 #
2011/0401(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
Horizon 2020 shall be implemented in a way which is complementary to other Union funding programmes, – such as the forthcoming Connecting Europe Facility (CEF) – including the Structural Funds.
Amendment 51 #
2011/0401(COD)
Proposal for a regulation
Annex I – section 3 – point 4 – point 4.1 – paragraph 3
Annex I – section 3 – point 4 – point 4.1 – paragraph 3
Sustainable mobility can only be achieved through a radical change in the transport system, inspired by breakthroughs in transport research, far-reaching innovation, and a coherent, Europe-wide implementation of greener, safer and smarter transport solutions, including investments in innovative infrastructure for all modes of transport.
Amendment 67 #
2011/0401(COD)
Proposal for a regulation
Annex I – section 3 – point 4 – point 4.2 – paragraph 4
Annex I – section 3 – point 4 – point 4.2 – paragraph 4
Business-as-usual is therefore not an option. Research and innovation, driven by policy objectives and focused on the key challenges, shall contribute substantially to achieve the Union's targets of limiting global temperature increase to 2ºC, cutting 60 % of CO2 emissions from transport, drastically reduce congestion and accident costs, and virtually eradicating road deaths by 2050. In its White Paper entitled ‘Roadmap to a Single European Transport Area – Towards a competitive and resource efficient transport system’ the Commission calls for these goals to be achieved by means of an innovative, sustainable and efficient transport policy.
Amendment 81 #
2011/0401(COD)
Proposal for a regulation
Annex I – section 3 – point 4 – point 4.3 – point a – paragraph 2
Annex I – section 3 – point 4 – point 4.3 – point a – paragraph 2
The focus of activities shall be to reduce resource consumption and greenhouse gas emissions and improve vehicle efficiency, to accelerate the development and deployment of a new generation of electric and other low or zero emission vehicles and the accompanying infrastructure, including through breakthroughs in engines, batteries and infrastructure; to explore and exploit the potential of alternative fuels and innovative and more efficient propulsion systems, including fuel infrastructure; to optimise the use of infrastructures, by means of intelligent transport systems and smart equipment; and to increase the use of demand management and public and non-motorised transport, particularly in urban areas.
Amendment 339 #
2011/0401(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) To achieve maximum impact, Horizon 2020 should develop close synergies with other Union programmes in areas such as education, space, environment, competitiveness and SMEs, the internal security, culture and media and with the Cohesion Policy funds and Rural Development Policy, which can specifically help to strengthen national and regional research and innovation capabilities in the context of smart specialisation strategies. However, it is essential to draw a clear distinction between the way funding is allocated: R&I financing under Horizon 2020 should at all times be allocated on the basis of the criteria of excellence in research and potential to deliver concrete results in innovation.
Amendment 387 #
2011/0401(COD)
Proposal for a regulation
Article 4
Article 4
Horizon 2020 shall play a central role in the delivery of the Europe 2020 strategy for smart, sustainable and inclusive growth by providing a common strategic framework for the Union'sfunding excellent research and innovation funding, thus acting as a vehicle for leveraging private investment, creating new job opportunities and ensuring Europe's long-term sustainable growth and competitiveness.
Amendment 594 #
2011/0401(COD)
Proposal for a regulation
Article 17 – paragraph 1 a (new)
Article 17 – paragraph 1 a (new)
However, the main emphasis of Horizon 2020 shall be to fund excellent research. The Structural Funds have a key role to play in capacity-building and providing a stairway to excellence in order to generate excellent projects that may compete for funding under Horizon 2020. Synergies between Horizon 2020 and the Cohesion policy in support to research and innovation will be realized through the implementation of complementary measures in a coordinated way. Where possible, the interoperability of the two instruments will be promoted and cumulative or combined funding will be encouraged.
Amendment 378 #
2011/0399(COD)
Proposal for a regulation
Article 19 – paragraph 2
Article 19 – paragraph 2
2. Participants shall make no commitments which are incompatible with the grant agreement. Where a participant fails to comply with its obligations regarding the technical implementation of the action, the other participants shall comply with the obligations without any additional Union funding unless the Commission or funding body expressly relieves them of that obligation. The financial responsibility of each participant shall be limited to its own debtthe funding which was directly received, subject to the provisions relating to the Fund. The participants shall ensure that the Commission or funding body is informed of any event which might affect the implementation of the action or the interests of the Union.
Amendment 417 #
2011/0399(COD)
Proposal for a regulation
Article 22 – paragraph 3 – subparagraph 1 (new)
Article 22 – paragraph 3 – subparagraph 1 (new)
Eligible costs shall be composed of costs attributable directly to the action, hereinafter 'direct eligible costs' and, where applicable, of costs which are not attributable directly to the action, but which have been incurred in direct relationship with the direct eligible costs attributed to the action, hereinafter 'indirect eligible costs'.
Amendment 426 #
2011/0399(COD)
Proposal for a regulation
Article 22 – paragraph 4
Article 22 – paragraph 4
4. The Horizon 2020 grant may reach a maximum ofshall amount to 100 % of the total eligible costs, without prejudice to the co-financing principle.
Amendment 437 #
2011/0399(COD)
Proposal for a regulation
Article 22 – paragraph 5 – introductory part
Article 22 – paragraph 5 – introductory part
5. The Horizon 2020 grant shall be limited to a maximum ofamount to 70 % of the total eligible costs for the following actions:
Amendment 487 #
2011/0399(COD)
Proposal for a regulation
Article 24 – paragraph 1
Article 24 – paragraph 1
1. Indirect eligible costs shall be determined by applying a flat rate of 20% of the total direct eligible costs, excluding direct eligible costs for subcontracting and the costs of resources made available by third parties which are not useased on the calculations of the participant's usual accounting principles and management practices. The calculations need to be based on costs that have actually been incurred and can be found oin the premiseaccounts of the beneficiary, as well as financial support to third parties.
Amendment 497 #
2011/0399(COD)
Proposal for a regulation
Article 24 – paragraph 1 a (new)
Article 24 – paragraph 1 a (new)
1a. Alternatively a beneficiary may opt to determine indirect eligible costs by applying a flat rate of 30% of the total direct eligible costs, excluding direct eligible costs for subcontracting and the costs of resources made available by third parties which are not used on the premises of the beneficiary, as well as financial support to third parties.
Amendment 500 #
2011/0399(COD)
Proposal for a regulation
Article 24 – paragraph 2
Article 24 – paragraph 2
2. By way of derogation from paragraph 1 and 1a, indirect costs may be declared in the form of a lump sum or scale of unit costs when provided for in the work programme or work plan.
Amendment 45 #
2011/0397(COD)
Proposal for a regulation
Article 12 – paragraph 2
Article 12 – paragraph 2
2. Where, following the selection procedure laid down in Articles 7 to 10, any supplier of groundhandling services, including self-handling airport users, mentioned in paragraph 1 loses its authorisation to provide these servicesreplaced by one or more supplier, Member States may require supplier(s)s of groundhandling services which subsequently provide these services to grant staff previously hired to provide these services the rights to which they would have been entitled if there had been a transfer within the meaning of Council Directive 2001/23/EC17 .
Amendment 51 #
2011/0397(COD)
Proposal for a regulation
Article 12 – paragraph 3
Article 12 – paragraph 3
3. Member States shall limit the requirement in paragraph (2) to the employees of the previous supplier, including self handling airport users, who are involved in the provision of services for whichgroundhandling services that the previous supplier lost authorisationstops providing, and who voluntarily accept to be taken on by the new supplier(s) or self-handling airport user.
Amendment 58 #
2011/0397(COD)
Proposal for a regulation
Article 12 – paragraph 6
Article 12 – paragraph 6
Amendment 61 #
2011/0397(COD)
Proposal for a regulation
Article 12 – paragraph 7
Article 12 – paragraph 7
Amendment 65 #
2011/0397(COD)
Proposal for a regulation
Article 12 – paragraph 8
Article 12 – paragraph 8
8. Member States shall limit the requirement in paragraph (62) to the employees of the self-handling airport user who are involved in the provision of groundhandling services for which the self- handling airport user decides to stop self- handling, and who voluntarily accept to be taken on by the new supplier(s) or self- handling airport user.
Amendment 67 #
2011/0397(COD)
Proposal for a regulation
Article 12 – paragraph 9
Article 12 – paragraph 9
Amendment 70 #
2011/0397(COD)
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7 a) As free market access is the norm in EU transport policy, the complete liberalisation of the groundhandling market should be the ultimate goal.
Amendment 71 #
2011/0397(COD)
Proposal for a regulation
Article 20 – paragraph 1
Article 20 – paragraph 1
An undertaking applying for an approval shall demonstrate that its employees have the qualification, professional experience and length of service necessary for the performance of the activity itfor which it has applies ford.
Amendment 77 #
2011/0397(COD)
Proposal for a regulation
Article 34 – paragraph 1
Article 34 – paragraph 1
1. Suppliers of groundhandling services and self-handling airport users shall ensure that all their employees involved in the provision of groundhandling services, including managing staff and supervisors, regularly attendattend at least two days of initial training when taking up a new job, and subsequent specific and recurrent training to enable them to perform the tasks assigned to them. This training must meet minimum European standards and be relevant to the specific tasks to which the employee is assigned.
Amendment 79 #
2011/0397(COD)
Proposal for a regulation
Article 34 – paragraph 2
Article 34 – paragraph 2
Amendment 86 #
2011/0397(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) Ambiguity exists as toIt should be clarified whether Member States may require the takeover of staff upon a change of provider for groundhandling services to which access is limited according to Article 6 (2). Discontinuity of staff can have a detrimental effect on the quality of groundhandling services. It is therefore appropriate to clarify the rules on the takeover of staff beyond the application of Directive 2001/23/EC on transfers of undertakings enabling Member States to ensure adequate employment and working conditions.
Amendment 87 #
2011/0397(COD)
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17 a) Increase in the quality of groundhandling services should be the ultimate aim; this should be done without increasing the administrative burden for groundhandling companies. It is therefore important to allow companies to decide on their own general business practices and their human resources policy.
Amendment 90 #
2011/0397(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) To make sure that all service suppliers and self-handling airport users possess sufficient economic solidity, good repute, sufficient insurance coverage, and proper knowledge of groundhandling operations and the airport environment, and in order to establish a level playing field, the granting of approval should be subject to minimum requirements. ; these minimum requirements should not in any way have a restrictive impact on the further opening of the market.
Amendment 113 #
2011/0397(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point e – indent 2 a (new)
Article 2 – paragraph 1 – point e – indent 2 a (new)
- or they belong to the same alliance ;
Amendment 123 #
2011/0397(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point j a (new)
Article 2 – paragraph 1 – point j a (new)
(j a) 'integrator' means an undertaking that offers door-to-door transport, being a contractually governed service guaranteeing the transportation of freight and/or mail from origin until final destination and where the transport operations, groundhandling, sorting and delivery services form an integral and seamless part of that service.
Amendment 146 #
2011/0397(COD)
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
For integrators, self-handling should be possible for groundhandling services performed for all aircraft in the integrators' transport network, whether owned of leased and whether operated by an air carrier owned by the integrator or by third parties. The undertaking providing the groundhandling services in this regard does not have to be an airport user, but shall be affiliated with the integrator
Amendment 402 #
2011/0397(COD)
Proposal for a regulation
Article 30 – paragraph 1
Article 30 – paragraph 1
1. The managing body of the airport shall be in charge of the proper coordination of groundhandling activities at its airport. As ground coordinator, the managing body of the airport shall in particular ensure that the operations of suppliers of groundhandling services and, self-handling airport users and the provision of centralised infrastructure comply with the airport rules of conduct as defined in Article 31.
Amendment 412 #
2011/0397(COD)
Proposal for a regulation
Article 30 – paragraph 2 – point a
Article 30 – paragraph 2 – point a
(a) the operations of suppliers of groundhandling services and, self-handling airport users and the provision of centralised infrastructure shall comply with minimum quality standards, as specified in Article 32;
Amendment 421 #
2011/0397(COD)
Proposal for a regulation
Article 30 – paragraph 5
Article 30 – paragraph 5
5. The managing body of the airport shall report to the national approving authority any problem with the suppliers of groundhandling services or self-handling airport users or the provision of centralised infrastructure at its airport.
Amendment 526 #
2011/0397(COD)
Proposal for a regulation
Article 39 – paragraph 1 – point e
Article 39 – paragraph 1 – point e
(e) opinion of stakeholders on the approval system (approval criteria, implementation issues, price, administrative process, etc.);
Amendment 529 #
2011/0397(COD)
Proposal for a regulation
Article 39 – paragraph 1 a (new)
Article 39 – paragraph 1 a (new)
1 a. The report shall also assess whether complete liberalisation of the groundhandling market is necessary and acceptable. If this is appropriate, a revision of this Regulation might be proposed.
Amendment 108 #
2011/0391(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 18 a (new)
Article 2 – paragraph 1 – point 18 a (new)
18a) 'non-scheduled air service' shall mean a flight which does not meet all the conditions of Article 2 (16) of Regulation (EC) No 1008/2008
Amendment 187 #
2011/0391(COD)
Proposal for a regulation
Article 9 – paragraph 3 a (new)
Article 9 – paragraph 3 a (new)
3a. For non-scheduled air services, airport coordinators will reserve a number of slots per hour for an entire scheduling season for the sole use of non-scheduled and business aviation operations. This allocation will be based on the historical usage by non-scheduled air services in the previous equivalent scheduling season. Airport coordinators will allocate the reserved slots to non-scheduled air services in a non-discriminatory manner.
Amendment 23 #
2011/0386(COD)
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3 a) Due attention should be paid to the Europe 2020 Strategy for Growth and Jobs and how it is implemented by Member States via their national reform programmes.
Amendment 49 #
2011/0386(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point c a (new)
Article 1 – paragraph 1 – point c a (new)
(c a) enhanced provisions for national budgetary rules and economic policy coordination;
Amendment 51 #
2011/0386(COD)
Proposal for a regulation
Chapter 2 – title
Chapter 2 – title
Common Budgetary Provisions and information requirements on national public debt issuance
Amendment 57 #
2011/0386(COD)
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1 a. In addition to Regulation (EC) No 1466/97, Member States shall ensure that the budgetary position of the general government is balanced or in surplus.
Amendment 58 #
2011/0386(COD)
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) Due attention should be paid to the Europe 2020 Strategy for Growth and Jobs and how it is implemented by Member States via their national reform programmes.
Amendment 58 #
2011/0386(COD)
Proposal for a regulation
Article 4 – paragraph 1 b (new)
Article 4 – paragraph 1 b (new)
1 b. The budgetary position of the general government shall be deemed to be balanced if the annual structural balance of the general government is at its country-specific medium-term objective as defined in the revised Stability and Growth Pact with a lower limit of a structural deficit of 0,5 % of the gross domestic product at market prices. The Member States shall ensure rapid convergence towards their respective medium-term objective.The Member States may temporarily deviate from their medium-term objective or the adjustment path towards it only in exceptional circumstances as defined in the Stability and Growth Pact. Where the ratio of government debt to gross domestic product at market prices is significantly below 60 % and where risks in terms of long-term sustainability of public finances are low, the lower limit of the medium-term objective specified under the second subparagraph can reach a structural deficit of no higher than 1,0 % of the gross domestic product at market prices.
Amendment 60 #
2011/0386(COD)
Proposal for a regulation
Article 4 a (new)
Article 4 a (new)
Article 4 a Information requirements on national public debt issuance In view of better coordinating the planning and optimising the financing conditions of public debt issuance, Member States shall report in advance their public debt issuance plans to the Commission and the Council.
Amendment 78 #
2011/0386(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. The Commission shall, if necessary, adopt an opinion on the draft budgetary plan by 30 November. The Commission shall in this respect pay due attention to the implementation of the Europe 2020 Strategy for Growth and Jobs by the concerned Member State.
Amendment 94 #
2011/0386(COD)
Proposal for a regulation
Article 11 – paragraph 3 a (new)
Article 11 – paragraph 3 a (new)
3 a. At the latest by 31 December 2012, the European Commission shall come forward with proposals for a European redemption fund.
Amendment 95 #
2011/0386(COD)
Proposal for a regulation
Article 11 a (new)
Article 11 a (new)
Article 11 a Economic Dialogue 1. In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or the President of the Eurogroup to appear before the committee to discuss the opinions and recommendations adopted pursuant to this Regulation. 2. The competent committee of the European Parliament may offer a Member State, which is subject to an opinion or recommendation under this Regulation, the opportunity to participate in an exchange of views. 3. Representatives of the Commission may be invited to participate to an exchange of views by the Parliament of the Member State, which is subject to an opinion or recommendation under this Regulation. 4. The Council and the Commission shall regularly inform the European Parliament of the implementation of this Regulation.
Amendment 122 #
2011/0386(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point c a (new)
Article 1 – paragraph 1 – point c a (new)
(ca) establishing enhanced provisions for national budgetary rules and economic policy coordination.
Amendment 132 #
2011/0386(COD)
Proposal for a regulation
Chapter 2 – title
Chapter 2 – title
Common Budgetary Provisions and information requirements on national public debt issuance
Amendment 155 #
2011/0386(COD)
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. In addition to Regulation (EC) No 1466/97, Member States shall ensure that the budgetary position of the general government is balanced or in surplus.
Amendment 168 #
2011/0386(COD)
Proposal for a regulation
Article 4 a (new)
Article 4 a (new)
Article 4a Information requirements on national public debt issuance With the aim of better coordinating the planning and optimising the financing conditions of public debt issuance, Member States shall report in advance their public debt issuance plans to the Commission and the Council.
Amendment 212 #
2011/0386(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. The Commission shall, if necessary, adopt an opinion on the draft budgetary plan by 30 November. The Commission should in this respect pay due attention to the implementation of the Europe 2020 Strategy for Growth and Jobs by the Member State concerned.
Amendment 273 #
2011/0386(COD)
Proposal for a regulation
Article -11 (new)
Article -11 (new)
Amendment 275 #
2011/0386(COD)
Proposal for a regulation
Article -11 (new)
Article -11 (new)
Article -11 Economic Dialogue 1. In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or the President of the Eurogroup to appear before the committee to discuss the opinions and recommendations taken pursuant to this Regulation. 2. The competent committee of the European Parliament may offer the opportunity to participate in an exchange of views to the Member State which is the subject of an opinion or recommendation under this Regulation. 3. Representatives of the Commission may be invited to participate to an exchange of views by the Parliament of the Member State, which is the subject of an opinion or recommendation under this Regulation. 4. The Council and the Commission shall regularly inform the European Parliament of the results of the application of this Regulation.
Amendment 36 #
2011/0385(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) The intensity of the economic and fiscal surveillance should be commensurate to the severity of the financial difficulties encountered and should take due account of the nature of the financial assistance received, which may range from a mere precautionary support based on eligibility conditions up to a full macro-economic adjustment programme involving strict policy conditionality. Any macro- economic adjustment programme shall, where possible, take into account the national reform programme of the country concerned in the context of the Europe 2020 Strategy for Growth and Jobs.
Amendment 48 #
2011/0385(COD)
Proposal for a regulation
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
2 a. The Commission shall make every decision in accordance with paragraph 1 and 2 public.
Amendment 56 #
2011/0385(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) The intensity of the economic and fiscal surveillance should be commensurate to the severity of the financial difficulties encountered and should take due account of the nature of the financial assistance received, which may range from a mere precautionary support based on eligibility conditions up to a full macro-economic adjustment programme involving strict policy conditionality. Any macro- economic adjustment programme should, where possible, take into account the national reform programme of the Member State concerned in the context of the Europe 2020 Strategy for Growth and Jobs.
Amendment 57 #
2011/0385(COD)
Proposal for a regulation
Article 3 – paragraph 5
Article 3 – paragraph 5
5. Where it is concluded - on the basis of the assessment foreseen in paragraph 4 - that further measures are needed and the financial situation of the Member State concerned has significant adverse effects on the financial stability of the euro area, the Council, acting by qualified majority on a proposal from the Commission, may recommend to the Member State concerned to seek financial assistance and to prepare a macro- economic adjustment programme. The Council may decide to make this recommendation public.
Amendment 58 #
2011/0385(COD)
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5 a. When taking a decision in accordance with paragraph 5, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 59 #
2011/0385(COD)
Proposal for a regulation
Article 3 – paragraph 6
Article 3 – paragraph 6
Amendment 70 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. A Member State requesting or receiving financial assistance from one or several other States, the IMF, the EFSF or the ESM shall prepare in agreement with the Commission - acting in liaison with the ECB - a draft adjustment programme aimed at re- establishing a sound and sustainable economic and financial situation and restoring its capacity to finance itself fully on the financial markets. The draft adjustment programme shall take due account of the current recommendations addressed to the Member State concerned under Articles 121, 126 and/or 148 of the Treaty- and its actions to comply with them - while aiming at broadening, strengthening and deepening the required policy measures. Any macro- economic adjustment programme shall, where possible, take into account the national reform programme of the country concerned in the context of the Europe 2020 Strategy for Growth and Jobs.
Amendment 73 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Council, acting by qualified majority on a proposal from the Commission, shall approve the adjustment programme. The Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 76 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. The Commission - in liaison with the ECB - shall examine with the Member State concerned the changes that may be needed to its adjustment programme. The Council, acting by a qualified majority on a proposal from the Commission, shall decide on any change to be made to the adjustment programme. When taking this decision, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 79 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 5
Article 6 – paragraph 5
5. If the monitoring referred to in paragraph 3 highlights significant deviations from the macro-economic adjustment programme, the Council, acting by qualified majority on a proposal from the Commission, may decide that the Member State concerned does not comply with the policy requirements contained in the adjustment programme. When taking this decision, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 81 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 7
Article 6 – paragraph 7
Amendment 83 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 8
Article 6 – paragraph 8
Amendment 84 #
2011/0385(COD)
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6 a Economic Dialogue 1. In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or the President of the Eurogroup to appear before the committee to discuss the recommendations and decisions taken pursuant to this Regulation. 2. The competent committee of the European Parliament may offer the opportunity to participate in an exchange of views to the Member State which is the subject of a Council recommendation or decision under this Regulation. 3. Representatives of the Commission may be invited to participate to an exchange of views by the Parliament of the Member State, which is the subject of a Council recommendation or decision under this Regulation. 4. The Council and the Commission shall regularly inform the European Parliament of the results of the application of this Regulation.
Amendment 86 #
2011/0385(COD)
Proposal for a regulation
Article 10 a (new)
Article 10 a (new)
Article 10 a Compatibility with Article 28 of the Charter of Fundamental Rights of the European Union and the right to work This Regulation takes into account Article 28 of the Charter of Fundamental Rights of the European Union, and accordingly does not affect the right to negotiate, conclude or enforce collective agreements or to take collective action in accordance with national law and practices. This Regulation shall also not afftect the right to work.
Amendment 87 #
2011/0385(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Regulation sets out provisions for strengthening the economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability and/or that receive or mayhave requested or receive financial assistance from one or several other States, the European Financial Stability Facility (EFSF), the European Financial Stability Mechanism (EFSM), the European Stability Mechanism (ESM) or other International Financial Institutions (IFI), such as the International Monetary Fund (IMF). Financial assistance covers all forms of financial support including pre- cautionary financial assistance.
Amendment 89 #
2011/0385(COD)
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. A Member State shall be under post- programme surveillance as long as a minimum of 75% of the financial assistance received from one or several other Member State(s), the EFSM, the EFSF or the ESM has not been repaid. The Council, acting on a qualified majority on a proposal from the Commission, may extend the duration of the post programme surveillance. When taking this decision, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 90 #
2011/0385(COD)
Proposal for a regulation
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
1a. In addition to complying with Regulation (EC) No 1466/97, Member States shall ensure that the budgetary position of the general government is balanced or in surplus. The budgetary position of the general government shall be deemed to be balanced if the annual structural balance of the general government is at its country-specific medium-term objective as defined in the revised Stability and Growth Pact without showing a structural deficit of the gross domestic product at market prices. Member States may temporarily deviate from their medium-term objective or the adjustment path towards it in exceptional circumstances as defined in the Stability and Growth Pact.
Amendment 91 #
2011/0385(COD)
Proposal for a regulation
Article 11 – paragraph 4
Article 11 – paragraph 4
4. The Council, acting by qualified majority on a proposal from the Commission, may recommend to the Member State under post programme surveillance to adopt corrective measures. When taking this decision, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 92 #
2011/0385(COD)
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
For the measures referred to in Articles 2(1), 3, 6(2), 6(4) and 11(4)this regulation, only members of the Council representing Member States whose currency is the euro shall vote and the Council shall act without taking into account the vote of the member of the Council representing the Member State concerned.
Amendment 107 #
2011/0385(COD)
Proposal for a regulation
Article 2 – paragraph 2
Article 2 – paragraph 2
2. The Commission shall decide to make a Member State requesting or receiving a financial assistance on a precautionary basis from one or several other States, the EFSF, the ESM or any other International Financial Institution, such as the IMF, subject to enhanced surveillance. The Commission shall establish a list of the precautionary financial assistance instruments concerned and keep it updated to take into account possible changes in the financial support policy of the EFSF, the EFSM, ESM or of any other relevant International Financial Institution.
Amendment 110 #
2011/0385(COD)
Proposal for a regulation
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
2a. The Commission shall make every decision taken in accordance with paragraphs 1 and 2 public.
Amendment 145 #
2011/0385(COD)
Proposal for a regulation
Article 3 – paragraph 5
Article 3 – paragraph 5
5. Where it is concluded - on the basis of the assessment foreseen in paragraph 4 - that further measures are needed and the financial situation of the Member State concerned has significant adverse effects on the financial stability of the euro area, the Council, acting by qualified majority on a proposal from the Commission, mayshall recommend to the Member State concerned to seek financial assistance and to prepare a macro- economic adjustment programme. The Council may decide to make this recommendation public.
Amendment 148 #
2011/0385(COD)
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5a. When taking a decision in accordance with paragraph 5, the Commission's proposal shall be deemed to have been adopted by the Council, unless the Council decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 166 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. A Member State receiving financial assistance from one or several other States, the IMF, the EFSF or the ESM shall prepare in agreement with the Commission - acting in liaison with the ECB - a draft adjustment programme aimed at re- establishing a sound and sustainable economic and financial situation and restoring its capacity to finance itself fully on the financial markets. The draft adjustment programme shall take due account of the current recommendations addressed to the Member State concerned under Articles 121, 126 and/or 148 of the Treaty- and its actions to comply with them - while aiming at broadening, strengthening and deepening the required policy measures. Any macroeconomic adjustment programme shall, where possible, take into account the national reform programme of the Member State concerned in the context of the Europe 2020 Strategy for Growth and Jobs.
Amendment 178 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Council, acting by qualified majority on a proposal from the Commission, shall approve the adjustment programmeon a proposal from the Commission, shall approve the adjustment programme. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make the decision public.
Amendment 187 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. The Commission - in liaison with the ECB - shall examine with the Member State concerned the changes that may be needed to its adjustment programme. The Council, acting by a qualified majority on a proposal from the Commission, shall decide on any change to be made to the adjustment programme. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make the decision public.
Amendment 194 #
2011/0385(COD)
Proposal for a regulation
Article 6 – paragraph 5
Article 6 – paragraph 5
5. If the monitoring referred to in paragraph 3 highlights significant deviations from the macro-economic adjustment programme, the Council, acting by qualified majority on a proposal from the Commission, mayshall decide that the Member State concerned does not comply with the policy requirements contained in the adjustment programme. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make the decision public.
Amendment 207 #
2011/0385(COD)
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6a Economic Dialogue 1. In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or the President of the Eurogroup to appear before the committee to discuss the recommendations and decisions taken pursuant to this Regulation. 2. The competent committee of the European Parliament may offer the opportunity to participate in an exchange of views to the Member State which is the subject of a Council recommendation or decision under this Regulation. 3. Representatives of the Commission may be invited to participate to an exchange of views by the Parliament of the Member State, which is the subject of a Council recommendation or decision under this Regulation. 4. The Council and the Commission shall regularly inform the European Parliament of the results of the application of this Regulation.
Amendment 231 #
2011/0385(COD)
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. A Member State shall be under post- programme surveillance as long as a minimum of 75% of the financial assistance received from one or several other Member State(s), the EFSM, the EFSF or the ESM has not been repaid. The Council, acting on a qualified majority on a proposal from the Commission, may extend the duration of the post programme surveillance. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make its decision public.
Amendment 240 #
2011/0385(COD)
Proposal for a regulation
Article 11 – paragraph 4
Article 11 – paragraph 4
4. The Council, acting by qualified majority on a proposal from the Commission, may adopt a recommend toation that the Member State under post programme surveillance to adopt corrective measures. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make the recommendation public.
Amendment 245 #
2011/0385(COD)
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
For the measures referred to in Articles 2(1), 3, 6(2), 6(4) and 11(4),this Regulation only members of the Council representing Member States whose currency is the euro shall vote and the Council shall act without taking into account the vote of the member of the Council representing the Member State concerned.
Amendment 64 #
2011/0361(COD)
Proposal for a regulation
Recital 7
Recital 7
Amendment 73 #
2011/0361(COD)
Proposal for a regulation
Recital 8
Recital 8
Amendment 83 #
2011/0361(COD)
Proposal for a regulation
Recital 9
Recital 9
Amendment 92 #
2011/0361(COD)
Proposal for a regulation
Recital 10
Recital 10
Amendment 98 #
2011/0361(COD)
Proposal for a regulation
Recital 11
Recital 11
Amendment 108 #
2011/0361(COD)
Proposal for a regulation
Recital 12
Recital 12
Amendment 150 #
2011/0361(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) Directive xxxx/xx/EU of the European Parliament and of the Council of […] on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms19 has introduced a provision requiring banks and investment firms to assess the credit risk of entities and financial instruments in which they invest themselves and not to simply rely in this respect on external ratings. This rule should be extended to other financial firms regulated under Union law, including investment managers. Member States should not be entitled to impose rules that allow stricter reliance of these investors on external ratings. Additionally, Member States should revise their national law and technical standards to ensure that whenever a reference to credit ratings is made, a potential mechanistic reliance on those credit ratings is avoided.
Amendment 214 #
2011/0361(COD)
Proposal for a regulation
Article 1 – point 6
Article 1 – point 6
Regulation (EC) No 1060/2009
Article 5a
Article 5a
Credit institutions, investment firms, insurance and reinsurance undertakings, institutions for occupational retirement provisions, management and investment companies, alternative investment fund managers and central counterparties as defined in Regulation (EU) No xx/201x of the European Parliament and of the Council of xx xxx 201x on OTC derivatives, central counterparties and trade repositories shall make their own credit risk assessment and shall not solely or mechanistically rely on credit ratings for assessing the creditworthiness of an entity or financial instrument. Competent authorities in charge of supervising these undertakings shall closely check the adequacy of undertakings credit assessment processes.
Amendment 218 #
2011/0361(COD)
Proposal for a regulation
Article 1 – point 6
Article 1 – point 6
Regulation (EC) No 1060/2009
Article 5b – paragraph 1
Article 5b – paragraph 1
The European Supervisory Authority (European Banking Authority) established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council (*) (EBA), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council (**) (EIOPA) and ESMA shall not refer to credit ratings in their guidelines, recommendations and draft technical standards where such references have the potential to trigger mechanistic reliance on credit ratings by competent authorities or financial market participants. Accordingly, and at the latest by 31 December 2013, EBA, EIOPA and ESMA shall review and remove where appropriate all references toall references that potentially could cause a mechanistic reliance on credit ratings in existing guidelines and recommendations.
Amendment 220 #
2011/0361(COD)
Proposal for a regulation
Article 1 – point 6
Article 1 – point 6
Regulation (EC) No 1060/2009
Article 5b – paragraph 1 a (new)
Article 5b – paragraph 1 a (new)
EBA, EIOPA and ESMA shall: (a) ensure that risk-weighting of securities does not rely only on the published ratings of credit rating agencies, in order to avoid a direct influence of such ratings on the capital of banks to be held; (b) ensure an effective reduction of reliance on external ratings, develop alternatives and gradually provide for the elimination of all mechanistic and automatic effects of an external credit rating for the risk-weighting of securities; (c) ensure that reliance only on the published ratings of credit rating agencies is avoided when new rules on capital standards for banking institutions are implemented.
Amendment 244 #
2011/0361(COD)
Proposal for a regulation
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1060/2009
Article 6b
Article 6b
Amendment 145 #
2011/0302(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) Experience with the current financial framework shows that many Member States, which are eligible to the Cohesion Fund, are facing significant obstacles in delivering on time complex cross-border transport infrastructure projects with a high Union added value, which frequently results in inefficient use of European funds. Therefore, in order to improve the delivery of transport projects, in particular cross-border ones, with a high Union added value, part of the Cohesion Fund allocation (EUR 10 billion) should be transferred to finance transport projects on the transport core network in the Member States eligible to the Cohesion Fund under the Connecting Europe Facility. The Commission should support Member States eligible to the Cohesion Fund to develop an adequate pipeline of projects in order to give greatest possible priority to the national allocations under the Cohesion Fund.
Amendment 202 #
2011/0302(COD)
Proposal for a regulation
Recital 37 a (new)
Recital 37 a (new)
(37 a) Those innovative financial instruments, such as project bonds, can give a boost to the financing of transport infrastructure with European added value. Their use should therefore be strongly encouraged, in order to use the European budget in the most efficient way.
Amendment 295 #
2011/0302(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point a – point ii
Article 4 – paragraph 1 – point a – point ii
(ii) ensuring sustainable and efficient transport in the long run, to be measured by the length of the conventional railway network in the EU-27 andapplying a scientific methodology that will clearly demonstrate the lbength of high-speed railway network in the EU-27;efits of the funded projects in economic and environmental terms
Amendment 299 #
2011/0302(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point a – point iii
Article 4 – paragraph 1 – point a – point iii
(iii) optimise the integration and interconnection of transport modes and enhancing interoperability of transport services. The achievement of this objective will be measured by the number of ports and airports connected to the railway network.applying a scientific methodology that will clearly demonstrate the benefits of the funded projects in economic and environmental terms
Amendment 408 #
2011/0302(COD)
Proposal for a regulation
Article 9 – paragraph 6 a (new)
Article 9 – paragraph 6 a (new)
6 a. Proposals for projects should be supported by a socio-economic case for the receipt of funding, including a cost benefit analysis.
Amendment 421 #
2011/0302(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point b – point i
Article 10 – paragraph 2 – point b – point i
(i) rail and inland waterways: the amount of Union financial aid shall not exceed 20% of the eligible cost; the funding rate may be increased to 30% for actions addressing bottlenecks; the funding rate may be increased to 40% for actions concerning cross-border sections and for actions enhancing rail interoperability;
Amendment 424 #
2011/0302(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point b – point i a (new)
Article 10 – paragraph 2 – point b – point i a (new)
(i a) inland waterways : the amount of Union financial aid shall not exceed 30% of the eligible cost; the funding rate may be increased to 40% for actions addressing bottlenecks and for actions concerning cross-border sections;
Amendment 431 #
2011/0302(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point b – point ii
Article 10 – paragraph 2 – point b – point ii
(ii) inland transport connections to ports and airports, actions to reduce rail freight noise by retrofitting of existing rolling stock,(including road, rail and inland waterway connections), the development of Motorways of the Sea as well as development of ports and multi-modal platforms: the amount of Union financial aid shall not exceed 230% of the eligible cost.
Amendment 443 #
2011/0302(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point b – point ii a (new)
Article 10 – paragraph 2 – point b – point ii a (new)
(ii a) actions supporting new technologies and innovation for all modes of transport, including infrastructure for alternative fuels and technologies: the amount of Union financial aid shall not exceed 20 % of eligible cost.
Amendment 448 #
2011/0302(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point b – point ii b (new)
Article 10 – paragraph 2 – point b – point ii b (new)
(ii b) inland transport connections to airports and actions to reduce rail freight noise by retrofitting of existing rolling stock: the amount of the Union financial aid shall not exceed 20% of eligible cost
Amendment 550 #
2011/0302(COD)
Proposal for a regulation
Article 17 – paragraph 3 – subparagraph 1
Article 17 – paragraph 3 – subparagraph 1
Amendment 5 #
2011/0301(COD)
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) It is necessary to emphasize the importance of adopting the proposed MFF, as it introduces the Connecting Europe Facility (including the project bonds initiative) and allocates the appropriate budget.
Amendment 7 #
2011/0301(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) With the Europe 2020 Project Bond Initiative, bonds would be issued by project companies, the Union budget together with financing from a financial partner would be used to improve the credit quality of the bonds in order to attract debt capital market investors such as pension funds and, insurance companies and other interested parties.
Amendment 11 #
2011/0301(COD)
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) The details of the Europe 2020 Project Bond Initiative are not completely clear at the moment. The pilot phase should be implemented as soon as possible, in order to clarify outstanding issues raised by possible investors and external organisations involved.
Amendment 12 #
2011/0301(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) In order to implement the pilot phase of the Europe 2020 Project Bond Initiative, Decision No 1639/2006/EC and Regulation (EC) No 680/2007 should be amended. This pilot phase aims to support infrastructure projects with a clear European added value and with commercial potential in the transport, energy and ICT sectors, while after 2013 the initiative may be extended to other sectors.
Amendment 14 #
2011/0301(COD)
Proposal for a regulation
Recital 20 a (new)
Recital 20 a (new)
(20a) Since in the conclusions of the European Council of 1-2 March 2012 the deadline for reaching an agreement on the pilot phase of the Europe 2020 Project Bond Initiative is set on June 2012, the Commission needs to start implementing this pilot phase without further delay.
Amendment 84 #
2011/0300(COD)
Proposal for a regulation
Article 9 – paragraph 2 – point b a (new)
Article 9 – paragraph 2 – point b a (new)
(b a) collaborative scheme: the comprehensive decision may encompass multiple individual legally binding decisions issued by the Competent Authority and other authorities concerned. The competent authority shall, in consultation with the other authorities concerned establish, on a case-by-case basis, a reasonable time limit within which the individual decisions can be issued, as well as the resulting total permitting time limit. The competent authority shall monitor the compliance of the time limits by the authorities concerned. If the decision by the authority involved is expected not to be delivered within the time limit, that authority shall inform the competent authority forthwith and include a justification for the delay.
Amendment 116 #
2011/0300(COD)
Proposal for a regulation
Annex III – part 1 – point 1 – paragraph 1
Annex III – part 1 – point 1 – paragraph 1
(1) For electricity projects falling under the categories set out in point 1 of Annex II, each Group shall be composed of representatives of the competent authorities of the Member States, national regulatory authorities, transmission system operators following their obligation to cooperate on a regional level in accordance with Article 6 of Directive 2009/72/EC and Article 12 of Regulation (EC) No 714/2009 and project promoters concerned by each of the relevant priorities designated in Annex I, as well as the Commission, the Agency and the ENTSO for Electricity.
Amendment 117 #
2011/0300(COD)
Proposal for a regulation
Annex III – part 1 – point 1 – paragraph 2
Annex III – part 1 – point 1 – paragraph 2
For gas projects falling under the categories set out in point 2 of Annex II, each Group shall be composed of representatives of the competent authorities of the Member States, national regulatory authorities, transmission system operators following their obligation to cooperate on a regional level in accordance with Article 7 of Directive 2009/73/EC and Article 12 of Regulation (EC) No 715/2009 and project promoters concerned by each of the relevant priorities designated in Annex 1, as well as the Commission, the Agency and the ENTSO for Gas.
Amendment 118 #
2011/0300(COD)
Proposal for a regulation
Annex III – part 1 – point 1 – paragraph 3
Annex III – part 1 – point 1 – paragraph 3
For oil and carbon dioxide transport projects falling under the categories referred to in Annex II(3) and (4), each Group shall be composed of the representatives of the competent authorities of the Member States, project promoters concerned by each of the relevant priorities designated in Annex 1 and the Commission.
Amendment 368 #
2011/0298(COD)
Proposal for a directive
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Directive shall apply to investment firms, financial instruments (including investment-related instruments), regulated markets, data reporting service providers and third country firms providing investment services or activities in the Union.
Amendment 372 #
2011/0298(COD)
Proposal for a directive
Article 1 – paragraph 3 – introductory part
Article 1 – paragraph 3 – introductory part
3. The following provisions shall also apply to credit institutions authorised under Directive 2006/48/EC, when providing one or more investment services and/or performing investment activities and when selling or advising clients in relation to deposits other than those with a rate of return which is determined in relation to an interest rate, as well as to any other undertaking performing investment services and/or investment activities or offering investment-related instruments:
Amendment 377 #
2011/0298(COD)
Proposal for a directive
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
a) insurance undertakings or undertakings carrying on the reinsurance and retrocession activities referred to in Directive 2009/138/EC insofar as they do not offer investment-related instruments;
Amendment 742 #
2011/0298(COD)
Proposal for a directive
Article 24 – paragraph 5 – point ii
Article 24 – paragraph 5 – point ii
(ii) shall not accept or receivethe client shall be given the possibility, contractually, of being informed about fees, commissions or any monetary benefits paid or provided to the investment firm by any third party or a person acting on behalf of a third party in relation to the provision of the service to clients.
Amendment 766 #
2011/0298(COD)
Proposal for a directive
Article 24 – paragraph 6
Article 24 – paragraph 6
6. When providing portfolio management the investment firm shall not accept or receiveis provided, the client shall be given the possibility, contractually, of being informed about fees, commissions or any monetary benefits paid or provided to the investment firm by any third party or a person acting on behalf of a third party in relation to the provision of the service to clients.
Amendment 1302 #
2011/0298(COD)
Proposal for a directive
Annex 1 – Section B – point 6 a (new)
Annex 1 – Section B – point 6 a (new)
(6a) Insurance contracts linked to investment-related instruments.
Amendment 163 #
2011/0294(COD)
Proposal for a regulation
Recital 28 a (new)
Recital 28 a (new)
(28 a) The corridor approach should be transparent and clear. It should not create extra administrative burdens.
Amendment 285 #
2011/0294(COD)
Proposal for a regulation
Article 7 – paragraph 2 – point d
Article 7 – paragraph 2 – point d
(d) demonstrathave clear European added value, which is clearly demonstrated through a transparent methodology to be developed by the Commission.
Amendment 408 #
2011/0294(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
Inland waterways and inland ports which form part of the comprehensive network are indicated on the maps in Annex I. The inland ports that form part of the comprehensive network shall also be listed in Annex IIIa to this Directive.
Amendment 416 #
2011/0294(COD)
Proposal for a regulation
Article 16 – paragraph 3
Article 16 – paragraph 3
3. Port-associated equipment shall enable in particular propulsion and operating systems which reduce water and air pollution, energy consumption and carbon intensity. It includes waste reception facilities and shore side electricity facilities.
Amendment 492 #
2011/0294(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
Maritime ports which form part of the comprehensive network are listed in Annex III bis and are also indicated on the maps in Annex I.
Amendment 527 #
2011/0294(COD)
Proposal for a regulation
Article 25 – paragraph 3
Article 25 – paragraph 3
3. Projects of common interest for motorways of the sea in the trans-European transport network may also include activities that have wider benefits and are not linked to specific ports, such as activities for improving environmental performance, offering shore side electricity at berth to all ships already equipped for using such system, making available facilities for ice-breaking, activities ensuring year- round navigability, dredging operations, alternative fuelling facilities, as well as the optimisation of processes, procedures and the human element, ICT platforms and information systems, including traffic management and electronic reporting systems.
Amendment 533 #
2011/0294(COD)
Proposal for a regulation
Article 26 – paragraph 2
Article 26 – paragraph 2
2. Port operators shall ensure that ports include equipment necessary to ensure the environmental performance of ships in ports, in particular reception facilities for ship generated waste and cargo residues in accordance with Directive 2000/59/EC of the European Parliament and of the Council of 27 November 2000 on port reception facilities for ship-generated waste and cargo residues, and shore side electricity facilities.
Amendment 569 #
2011/0294(COD)
Proposal for a regulation
Article 39 – paragraph 1 – introductory part
Article 39 – paragraph 1 – introductory part
The comprehensive network shall keep up with state-of-the-art technological developments and deployments. They shall, by giving priority to projects aiming in particular aim to:
Amendment 570 #
2011/0294(COD)
Proposal for a regulation
Article 39 – paragraph 1 – point b
Article 39 – paragraph 1 – point b
(b) enable the decarbonisation of all transport modes by stimulating energy efficiency as well as the introduction of alternative propulsion and electricity supply systems and the provision of corresponding infrastructure. Such infrastructure may include grids and other facilities necessary for the energy supply, take account of the infrastructure – vehicle interface and encompass intelligent transport systems;
Amendment 581 #
2011/0294(COD)
Proposal for a regulation
Article 42 – paragraph 1 a (new)
Article 42 – paragraph 1 a (new)
1.a Member States and other project promoters shall ensure that such assessments are carried out efficiently, avoiding unnecessary delays, in particular for projects of common interest.
Amendment 628 #
2011/0294(COD)
Proposal for a regulation
Article 45 – paragraph 2 – point b – indent 1
Article 45 – paragraph 2 – point b – indent 1
– availability of alternative clean fuels or shore side power supply;
Amendment 666 #
2011/0294(COD)
Proposal for a regulation
Article 48 – paragraph 2
Article 48 – paragraph 2
2. Core network corridors shall provide for a coordinated approach with regard to infrastructure use and investments, so as to manage capacities in the most efficient way. Multimodal infrastructure within core network corridors shall be built and coordinated, wherever needed, in a way that optimises the use of each transport mode and their cooperation. The core network corridors shall support the comprehensive deployment of interoperable traffic management systems, innovation and new technologies.
Amendment 977 #
2011/0294(COD)
Proposal for a regulation
Annex II – Section 2 a (new)
Annex II – Section 2 a (new)
Amendment 989 #
2011/0294(COD)
Proposal for a regulation
Annex III a (new)
Annex III a (new)
To add a new Annex IIIb featuring a list of the nodes of the comprehensive network (airports, seaports, inland ports, Rail-Road Terminals) with the aim of clarifying the maps of Annex I.
Amendment 61 #
2011/0275(COD)
Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 2
Article 3 – paragraph 1 – subparagraph 2
In more developed regions, the ERDF shall not support investments in infrastructure providing basic services to citizens in the areas of environment, transport, and ICT and ICT. Transport investment in these regions may be supported only if it accords with the aims of the TEN-T network as laid down in Regulation No xxxx/2012 of the European Parliament and of the Council on Union guidelines for the development of the trans-European transport network.
Amendment 14 #
Amendment 17 #
2011/0261(CNS)
Draft legislative resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Calls on the Commission to analyse and to propose the introduction of an EU wide VAT on financial services or Financial Activity Tax.
Amendment 27 #
2011/0239(COD)
Proposal for a directive
Recital 11 a (new)
Recital 11 a (new)
(11a) Further delays in transposing the Manila amendments to the STCW Convention in European legislation should be avoided, in order to keep up the competitiveness of European seafarers as well as to uphold safety on board ships through up-to-date training of crews.
Amendment 28 #
2011/0239(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2008/106/EC
Article 15 – paragraph 11
Article 15 – paragraph 11
11. With due regard for the general principles of the protection of the health and safety of workers, Member States may have national laws, regulation or a procedure for the competent authority to authorise or register collective agreements permitting exceptions to the required hours of rest in paragraph 4(b) and 5 provided that the rest period is no less than 70 hours in any 7-day period. Such exceptions shall, in accordance with directive 1999/63/EC, as far as possible, follow the standards set out but may take account of more frequent or longer leave periods, or the granting of compensatory leave and should equfor seafarers working on board ships on short voyages. Exceptions shally, as far as possible, take into account the guidance regarding prevention of fatigue laid down in section B-VIII/1 of the STCW Code.
Amendment 29 #
2011/0239(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Directive 2008/106/EC
Article 25a – paragraph 3
Article 25a – paragraph 3
3. The Commission shall be empowered to adopt delegated acts in accordance with Article 27a in order to establish appropriate measures for collecting, storing and analysing this information; this shall be done in compliance with the data protection requirements as established in European legislation. The information, as well as the results of analyses based on that information, shall be communicated, collected, stored and analysed in an anonymous format.'.
Amendment 599 #
2011/0202(COD)
Proposal for a regulation
Article 96 – paragraph 3 – subparagraph 1 – point a
Article 96 – paragraph 3 – subparagraph 1 – point a
(a) uniform definition, formats, frequencies and dates of reporting of the items referred to in paragraph 1 to ensure a uniform and comparable definition of losses;
Amendment 654 #
2011/0202(COD)
Proposal for a regulation
Article 118 – paragraph 1 – point c a (new)
Article 118 – paragraph 1 – point c a (new)
(ca) the exposure to small or medium sized enterprises shall be assigned a risk weight of 75% multiplied by 0.7619.
Amendment 673 #
2011/0202(COD)
Proposal for a regulation
Article 120 – paragraph 2 – point b
Article 120 – paragraph 2 – point b
Amendment 697 #
2011/0202(COD)
Proposal for a regulation
Article 123 – paragraph 1
Article 123 – paragraph 1
1. Institutions, where appropriate, shall assign a 150% risk weight to exposures, including exposures in the form of shares or units in a Collective Investment Undertaking that are associated with particularly high risks, where appropriate.
Amendment 698 #
2011/0202(COD)
Proposal for a regulation
Article 123 – paragraph 2 – introductory part
Article 123 – paragraph 2 – introductory part
2. Exposures with particularly high risks shallmay include any of the following investments:
Amendment 703 #
2011/0202(COD)
Proposal for a regulation
Article 123 – paragraph 2 – point b
Article 123 – paragraph 2 – point b
(b) alternative investment funds as defined by Article 4(1)(1) of Directive [inserted by OP - Directive on Alternative Investment Fund Managers] unless the institution applies the credit risk assessment method under Article 127 (2), or the look-through approach in Article 127 (4) or the average risk weight approach under Article (5) when the conditions in Article 127 (3) are met;
Amendment 707 #
2011/0202(COD)
Proposal for a regulation
Article 123 – paragraph 3 – subparagraph 1 – introductory part
Article 123 – paragraph 3 – subparagraph 1 – introductory part
When assessing whether an exposure other than exposuresas referred to in paragraph 2, or an exposure other than those referred to in the paragraph 2, is associated with particularly high risks, institutions shallould amongst other parameters take into account the following risk characteristics:
Amendment 763 #
2011/0202(COD)
Proposal for a regulation
Article 174 – paragraph 1 – subparagraph 1 – point b
Article 174 – paragraph 1 – subparagraph 1 – point b
(b) the obligor is past due more than 90 days on any material credit obligation to the institution, the parent undertaking or any of its subsidiaries. The competent authorities of each Member State may set the number of days past due up to a figure of 180 for exposures secured by mortgages on immovable property to counterparties situated in their territory, if local conditions make it appropriate.
Amendment 863 #
2011/0202(COD)
Proposal for a regulation
Article 379 – paragraph 7
Article 379 – paragraph 7
7. In order to determine the existence of a group of connected clients, in respect of exposures referred to in points (l) and (n) of 107 where there is an exposure to underlying assets, and in respect of exposures referred to in point (p) of Article 107 where there is a scheme and an exposure to underlying assets, an institution shall assess the scheme, its underlying exposures, or both. For that purpose, an institution shall evaluate the economic substance and the risks inherent in the structure of the transaction. If an institution with claims in the form of units or shares in collective investment undertakings ('CIUs') assesses the underlying exposures of the CIU, the exposure of the institution does not include claims in the form of CIUs.
Amendment 1029 #
2011/0202(COD)
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point a
Article 404 – paragraph 3 – subparagraph 1 – point a
(a) they are not issued by the institution itself or its parent or subsidiary institutions or another subsidiary of its parent institutions or parent financial holding company. This does not apply to assets referred to in (i) and (ii) in paragraph 2, point (a) , which are traded on an ongoing basis in the secondary market;
Amendment 1037 #
2011/0202(COD)
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point c
Article 404 – paragraph 3 – subparagraph 1 – point c
(c) their price is generally agreed upon by market participants and can easily be observed in the market, or their price can be determined by a formula that is easy to calculate based on publicly available inputs and does not depend on strong assumptions as is typically the case for structured or exotic products;
Amendment 1068 #
2011/0202(COD)
Proposal for a regulation
Article 404 – paragraph 5
Article 404 – paragraph 5
5. Shares or units in CIUs may be treated as liquid assets up to an absolute amount of 250 million EUR provided that the requirements in Article 127(3) are met and that the CIU, apart from derivatives to mitigate interest rate or credit riskrisks of permitted investments, only invests in liquid assets.
Amendment 1098 #
2011/0202(COD)
Proposal for a regulation
Article 406 – paragraph 2 – subparagraph 1 – point a
Article 406 – paragraph 2 – subparagraph 1 – point a
(a) 0% for the assets in point (a), (b) and (c) of Article 404(1) ;
Amendment 1099 #
2011/0202(COD)
Proposal for a regulation
Article 406 – paragraph 2 – subparagraph 1 – point b
Article 406 – paragraph 2 – subparagraph 1 – point b
Amendment 1101 #
2011/0202(COD)
Proposal for a regulation
Article 406 – paragraph 2 – subparagraph 1 – point c
Article 406 – paragraph 2 – subparagraph 1 – point c
(c) 2015% for the assets in point (d) of Article 404(1).
Amendment 1271 #
2011/0202(COD)
Proposal for a regulation
Article 416 – paragraph 2 – subparagraph 2
Article 416 – paragraph 2 – subparagraph 2
Institutions shall calculate the leverage ratio as the simple arithmetic mean of the monthly leverage ratios over aevery quarter.
Amendment 1502 #
2011/0202(COD)
Proposal for a regulation
Article 478 – paragraph 1
Article 478 – paragraph 1
The Commission shall, by 31 December 2015 and after consulting the EBA, report to the Parliament and the Council, together with any appropriate proposals, whether the risk weights laid down in Article 124 and the own funds requirements for specific risk in Article 325(5) are adequate for all the instruments that qualify for these treatments and whether the criteria in Article 124 should be made stare appropricater.
Amendment 8 #
2011/0177(APP)
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that the overall envelope available for transport investments in the next Multiannual Financial Framework (MFF) will be critical for the implementation of the TEN-T, as well as for transport research in order for the Union to remain the industrial leader in sustainable and innovative transport technology; calls on the Member States, therefore, to support the Commission’s proposal;
Amendment 9 #
2011/0177(APP)
Draft opinion
Paragraph 4
Paragraph 4
4. InsistsStresses that transport and mobility are of vital importance to the European internal market and insists, therefore, that the Union should significantly increase targeted investments in TEN-T infrastructure and transport research rather than reducing them, as they can significantly and directly contribute to overcoming difficult economic situations through boosting the Union's competitiveness, economic growth and employment;
Amendment 14 #
2011/0177(APP)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Stresses its high expectations of the Commission proposal on the CEF; considers that the Commission’s innovative approach, with the innovative financial instruments, including project bonds, could boost the funding of transport infrastructure with European added value;
Amendment 17 #
2011/0177(APP)
Draft opinion
Paragraph 6
Paragraph 6
6. Underlines that the additional €10bn from the Cohesion fund are to be centrally managed under the CEF in order to deliver clear EU-added value in Cohesion countries; draws attention to a recent report(1) by the European Court of Auditors which demonstrated that funding from the Cohesion and Structural Funds is not always used equally effectively; (1) Special Report No 4/2012. Using Structural and Cohesion Funds to co-finance transport infrastructures in seaports: an effective investment?
Amendment 13 #
2011/0092(CNS)
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) Taxation of energy products should be approached in a technology-neutral manner in order to give new technologies the opportunity to develop.
Amendment 17 #
2011/0092(CNS)
Proposal for a directive
Recital 13
Recital 13
(13) As regards the possibility for Member States to apply a lower level of taxation to commercial than to non-commercial use of gas oil as motor fuel, this provision would appear to be no longer compatible with the requirement to improve energy efficiency and the need to address the growing environmental impact of transport and should therefore be deleted. In order to give transport firms the opportunity to adapt to the new rules, a transitional period ending in 2020 should be instituted before this possibility is completely abolished. Article 9(2) of Directive 2003/96/EC authorises certain Member States to apply a reduced rate on heating gas oil. That provision is no longer compatible with the proper functioning of the internal market and with the wider objectives of the Treaty. It should therefore be deleted.
Amendment 22 #
2011/0092(CNS)
Proposal for a directive
Recital 1
Recital 1
(1) Council Directive 2003/96/EC was adopted in order to ensure the proper functioning of the internal market as regards the taxation of energy products and electricity. In accordance with Article 6 of the Treaty, environmental protection requirements have been integrated into the terms of that Directive, in the light, in particular, of the Kyoto protocol. It is important that, pursuant to Article 9 of the Treaty on the Functioning of the European Union, it should be ascertained whether sufficient account is taken of protection of public health, for example in the context of air pollution.
Amendment 24 #
2011/0092(CNS)
Proposal for a directive
Recital 19 a (new)
Recital 19 a (new)
(19a) A level playing field should be created among the various modes of transport. The requirement to exempt the use of fuel in certain sectors should be phased out. In order to safeguard the competitive position of European businesses and industries, this must be done in international consultation.
Amendment 25 #
2011/0092(CNS)
Proposal for a directive
Recital 2 bis (new)
Recital 2 bis (new)
(2a) Taxation of energy products should be approached in a technology-neutral manner in order to give new technologies the opportunity to develop.
Amendment 31 #
2011/0092(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2003/96/CE
Article 7
Article 7
“Article 7 “Article 7 1. As from 1 January 2013, from 1 January 2015 and from 1 January 2018, the minimum levels of taxation applicable to motor fuels shall be fixed as set out in Annex I, Table A 2. Until 1 January 2020, Member States may differentiate between commercial and non-commercial use of gas oil used as propellant, provided that the Community minimum levels are observed. Commercial gas oil used as propellant shall mean gas oil used as propellant for the following purposes: (a) the carriage of goods for hire or reward, or on own account, by motor vehicles or articulated vehicle combinations intended exclusively for the carriage of goods by road and with a maximum permissible gross laden weight of not less than 7.5 tonnes; (b) the carriage of passengers, whether by regular or occasional service, by a motor vehicle of category M2 or category M3, as defined in Council Directive 70/156/EEC of 6 February 1970 on the approximation of the laws of the Member States relating to the type-approval of motor vehicles and their trailers.”
Amendment 34 #
2011/0092(CNS)
Proposal for a directive
Recital 5
Recital 5
(5) Therefore, provision should be made for energy taxation to consist of two components, CO2-related taxation and general energy consumption taxation. In order for energy taxation to adapt to the operation of the Union scheme under Directive 2003/87/EC Member States should be required to explicitly distinguish between those two components. This would also allow distinct treatment of fuels that are biomass or made from biomass. The European Commission should submit a report to the European Parliament and the Council examining whether, in addition to CO2 emissions, emissions of other harmful gases should also be taken into account with the aim of protecting public health.
Amendment 53 #
2011/0092(CNS)
Proposal for a directive
Recital 11
Recital 11
(11) It should be ensured that the minimum levels of taxation preserve their intended effects. Since CO2-related taxation complements the operation of Directive 2003/87/EC, the market price of the emission allowances should be closely monitored in the periodic review of the Directive, incumbent on the Commission. The minimum levels of general energy consumption taxation should at regular intervals be automatically aligned to take into account the evolution of their real value in order to preserve the current level of rate harmonisation; to reduce the volatility stemming from energy and food prices, this alignment should be made on the basis of the changes in the Union- wide harmonised index of consumer prices excluding energy and unprocessed food as published by Eurostat.
Amendment 65 #
2011/0092(CNS)
Proposal for a directive
Recital 13
Recital 13
(13) As regards the possibility for Member States to apply a lower level of taxation to commercial than to non-commercial use of gas oil as motor fuel, this provision would appear to be no longer compatible with the requirement to improve energy efficiency and the need to address the growing environmental impact of transport and should therefore be deleted. In order to give transport firms the opportunity to adapt to the new rules, a transitional period ending in 2023 should be instituted. Article 9(2) of Directive 2003/96/EC authorises certain Member States to apply a reduced rate on heating gas oil. That provision is no longer compatible with the proper functioning of the internal market and with the wider objectives of the Treaty. It should therefore be deleted.
Amendment 76 #
2011/0092(CNS)
Proposal for a directive
Recital 17
Recital 17
(17) Exemption or reductions to the benefit of households and charitable organisations may form part of social measures defined by Member States. The possibility to apply such exemptions or reductions should, for reasons of equal treatment between energy sources, be extended to all energy products used as heating fuel and electricity. In order to ensure that tprevent a correct price signal from being given. In the interests of greater energy efficiency and emission reductions, these exemptions or reductions will no longer be desirable once a transitional period has elapsed. It is desirable that, having given a price signal, Member States should help low-income households or charitable organisations for social reasons. In this way, higheir impact on the internal menergy costs for this tarkget remains limited, such exemptions and reductions should be applied only to non-business activitigroup can be compensated for by means of supplementary social measures.
Amendment 87 #
2011/0092(CNS)
Proposal for a directive
Recital 19
Recital 19
(19) Directive 2003/96/EC obliges Member States to exempt from taxation fuel used for navigation in Community waters as well as electricity produced on board a craft, including while at berth in a port. Moreover, Member States may extend this favourable tax treatment to inland waterways. In order to set a first incentive for the development and application of this technology, pending the adoption of a more comprehensive framework in the matter, Member State should exempt the use of shore-side electricity by ships while at berth in a port from energy taxation. This exemption should apply both to sea ports and to inland ports during a period long enough in order not to discourage port operators from making the necessary investments but at the same time be time- limited in such a way that its maintenance, in full or in part, is made subject to a new decision in due time.
Amendment 92 #
2011/0092(CNS)
Proposal for a directive
Recital 21
Recital 21
(21) The general rules introduced by this Directive take account of the specificities of fuels that are biomass or made of biomass complying with the sustainability criteria laid down in Article 17 of Directive 2009/28/EC with regard both to their contribution to the CO2-balance and to their lower energy content per quantitative unit, as compared to some of the competing fossil fuels. For the interim period, it should be ensured that the application of these provisions is made consistent with the general rules introduced by this Directive. Biofuels and bioliquids defined in Article 2(h) and (i) of Directive 2009/28/EC should therefore only benefit from additional tax advantages applied by Member States if they fulfil the sustainability criteria laid down in Article 17 of this Directive. In line with Article 17 of Directive 2009/28/EC, this implies that the tax advantages for biofuels and bioliquids which yield a saving of at least 35% on greenhouse gas emissions may only remain in force until the end of 2016. From 2017, the limit should be raised to 50% and from 2018 onwards to 60%.
Amendment 128 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 4 – point b
Article 1 – point 4 – point b
Directive 2003/96/EC
Article 4 – paragraph 3 – subparagraph 1
Article 4 – paragraph 3 – subparagraph 1
3. Without prejudice to the exemptions, differentiations and reductions provided for in this Directive, Member States shall ensure that where equal minimum levels of taxation are laid down in Annex I in relation to a given use, equal levels of taxation are fixed for products put to that use. Without prejudice to Article 15(1)(i), for motor fuels referred to in Annex I Table A, this shall apply as from 1 January 20238.
Amendment 138 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 4 – point b
Article 1 – point 4 – point b
Directive 2003/96/EC
Article 4 – paragraph 4 – subparagraph 1
Article 4 – paragraph 4 – subparagraph 1
Amendment 143 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 4 – point b
Article 1 – point 4 – point b
Directive 2003/96/EC
Article 4 – paragraph 4 – subparagraph 2
Article 4 – paragraph 4 – subparagraph 2
Amendment 151 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 6
Article 1 – point 6
Directive 2003/96/EC
Article 7 – paragraph 2 (new)
Article 7 – paragraph 2 (new)
Until 1 January 2023, Member States may differentiate between commercial and non-commercial use of gas oil used as propellant, provided that the Community minimum levels are observed. ‘Commercial gas oil used as propellant’ shall mean gas oil used as propellant for the following purposes: (a) the carriage of goods for one’s own account or for hire or reward by a motor vehicle or vehicle combination intended solely for the carriage by road of goods and having a maximum permissible total laden weight of 7.5 tonnes or more; (b) the carriage of passengers, whether by regular or occasional service, by a motor vehicle of category M2 or category M3, as defined in Council Directive 70/156/EEC of 6 February 1970 on the approximation of the laws of the Member States relating to the type-approval of motor vehicles and their trailers.”
Amendment 164 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 11 – point a – point iii
Article 1 – point 11 – point a – point iii
Directive 2003/96/EC
Article 14 – paragraph 1 – point e
Article 14 – paragraph 1 – point e
(e) until 31 December 20203, electricity directly provided to vessels berthed in seaports or inland ports."
Amendment 178 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 13 – point a – point i
Article 1 – point 13 – point a – point i
Directive 2003/96/EC
Article 15 – paragraph 1 – point h
Article 15 – paragraph 1 – point h
(h) until 1 January 2023, energy products used as heating fuel and electricity if used by households and/or by organisations recognised as charitable by the Member State concerned. In the case of such charitable organisations, Member States shall confine the exemption or reduction to use for the purpose of non- business activities. Where mixed use takes place, taxation shall apply in proportion to each type of use. If a use is insignificant, it may be treated as nil;
Amendment 203 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 21
Article 1 – point 21
Directive 2003/96/EC
Article 29 – paragraph 1
Article 29 – paragraph 1
Every fivthree years and for the first time by the end of 2015, the Commission shall submit to the Council and the European Parliament a report on the application of this Directive and, where appropriate, a proposal for its modification.
Amendment 207 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 21
Article 1 – point 21
Directive 2003/96/EC
Article 29 – paragraph 2
Article 29 – paragraph 2
The report by the Commission shall, inter alia, examine the minimum level of CO2- related taxation, the impact of innovation and technological developments, in particular as regards energy efficiency, the use of electricity in transport and the justification for the exemptions and reductions, including for fuel used for the purpose of air and maritime navigation, laid down in this Directive. The Commission report shall furthermore examine whether, in addition to CO2 emissions, emissions of other harmful gases should also be taken into account with the aim of protecting public health. The report shall take into account the proper functioning of the internal market, the real value of the minimum levels of taxation and the wider objectives of the Treaty.
Amendment 178 #
2011/0062(COD)
Proposal for a directive
Recital 3
Recital 3
(3) The financial crisis has shown that irresponsible behaviour by market participants can undermine the foundations of the financial system, leading to a lack of confidence among all parties, in particular consumers, and potentially severe social and economic consequences. Many consumerConsumers in some Member States have lost confidence in the financial sector and borrowers in those Member States have found their loans increasingly unaffordable, with defaults and forced sales rising. In view of the problems brought to light in the financial crisis and in the context of efforts to ensure an efficient and competitive internal market, the Commission has proposed measures with regard to credit agreements relating to residential immovable property, including a reliable framework on credit intermediation, in the context of delivering responsible and reliable markets for the future and restoring consumer confidence.25
Amendment 179 #
2011/0062(COD)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) The history of the financial crisis shows that the crisis originated in the United States of America, and affected Europe through derivatives. Europe must thus make sure to draft EU legislation addressing the specific EU concerns and not addressing the American roots of the crisis.
Amendment 183 #
2011/0062(COD)
Proposal for a directive
Recital 4
Recital 4
(4) A series of problems in some EU mortgage markets associated with irresponsible lending and borrowing at the pre- contractual stage and the potential scope for irresponsible behaviour by credit intermediaries and non-credit institutions have been identified. Some problems concerned loans denominated in a foreign currency which consumers had taken out in that currency to take advantage of the interest rate offered but without having an adequate understanding of the currency risk involved. These problems are driven by market and regulatory failures as well as other factors such as the general economic climate and low levels of financial literacy. Other problems include ineffective, inconsistent, or non-existent registration, authorisation and supervision regimes for credit intermediaries and non-credit institutions providing credit for residential immovable property. The problems identified have potentially significant macroeconomic spill-over effects, can lead to consumer detriment, act as economic or legal barriers to cross-border activity and create an unlevel playing field between actors.
Amendment 187 #
2011/0062(COD)
Proposal for a directive
Recital 5
Recital 5
(5) In order to facilitate the emergence of a smoothly functioning internal market with a highan adequate level of consumer protection in the area of credit agreements relating to residential immovable property, a harmonised Union framework needs to be established in a number of areas. It is further necessary to establish harmonised standards in order to ensure that consumers looking for credit agreements relating to residential immovable property are able to do so confident in the knowledge that the institutions they interact with act in a professional and responsible manner.
Amendment 188 #
2011/0062(COD)
Proposal for a directive
Recital 5 a (new)
Recital 5 a (new)
(5a) In order to guarantee maximum consumer freedom and at the same time not hindering competition in the banking sector, national and regional differences in the residential immovable property credit market need to be the driving criteria to establish a harmonised Union framework.
Amendment 191 #
2011/0062(COD)
Proposal for a directive
Recital 8
Recital 8
(8) As consumers and enterprises are not in the same position, they do not need the same level of protection. While it is important to guarantee consumers’ rights by provisions that cannot be derogated from by contract, it is reasonable to let enterprises and organisations engage in other agreements. This Directive should therefore only apply to credit granted to consumers. Member States should, however, have the possibility to extend the scope to natural or legal persons that are not consumers, notably micro-enterprises, as defined by Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises26 .
Amendment 195 #
2011/0062(COD)
Proposal for a directive
Recital 9
Recital 9
(9) The objective of this Directive is to ensurepromote responsible lending and borrowing in the context of a transparent, efficient and competitive internal market for loans related to residential immovable property, while ensuring that all credits provided to consumers benefit from a high level of protection. It should therefore apply to credits secured by real estate, or credits which are used to purchase a property in some Member States and to credits for the renovation of residential property that are not covered by Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC27 which lays down rules at Union level concerning consumer credit agreements. Furthermore, this Directive should not be applied to certain types of credit agreements where the credit is granted by an employer to his employees under certain circumstances, as already provided in Directive 2008/48/EC.
Amendment 197 #
2011/0062(COD)
Proposal for a directive
Recital 10 a (new)
Recital 10 a (new)
(10a) This Directive should not apply to credit agreements which relate to loans granted to a restricted public under a statutory provision with a general interest purpose, and at lower interest rates than those prevailing on the market or free of interest or on other terms which are more favourable to the consumer than those prevailing on the market and at interest rates not higher than those prevailing on the market.
Amendment 201 #
2011/0062(COD)
Proposal for a directive
Recital 14
Recital 14
(14) At the same time, it is important take into consideration the specificities of credit agreements relating to residential immovable property which justify a differentiated approach. Given the nature and the possible consequences of a credit agreement relating to residential immovable property for the consumer, advertising materials and personalised pre- contractual information should include specific risk warnings, for instance about the nature and implications of taking out a security. Nevertheless, the nature of the advertising medium should be taken into account and thus diversification on the rules should be foreseen according to the medium. Following what already existed as a voluntary approach by the industry concerning home loans, general pre- contractual information should be made available at all times in addition to the personalised pre-contractual information. Furthermore, a differentiated approach is justifiable in order to take into consideration the lessons learnt from the financial crisis in order to ensure that loan origination takes place in a sound manner. In this respect, the provisions on the creditworthiness assessment should be strengthened in comparison to consumer credit, more precise information should be provided by credit intermediaries on their status and relationship with the creditors in order to disclose potential conflicts of interest, and all actors involved in the origination of credit agreements relating to residential immovable property should be adequately authorised, registered and supervised.
Amendment 202 #
2011/0062(COD)
Proposal for a directive
Recital 14
Recital 14
(14) At the same time, it is important take into consideration the specificities of credit agreements relating to residential immovable property which justify a differentiated approach. Given the nature and the possible consequences of a credit agreement relating to residential immovable property for the consumer, advertising materials and personalised pre- contractual information should include adequate specific risk warnings, for instance about the nature and implications of taking out a security. Following what already existed as a voluntary approach by the industry concerning home loans, general pre- contractual information should be made available at all times in addition to the personalised pre-contractual information. Furthermore, a differentiated approach is justifiable in order to take into consideration the lessons learnt from the financial crisis in order to ensure that loan origination takes place in a sound manner. In this respect, the provisions on the creditworthiness assessment should be strengthened in comparison to consumer credit, more precise information should be provided by credit intermediaries on their status and relationship with the creditors in order to disclose potential conflicts of interest, and all actors involved in the origination of credit agreements relating to residential immovable property should be adequately authorised, registered and supervised.
Amendment 203 #
2011/0062(COD)
Proposal for a directive
Recital 14 a (new)
Recital 14 a (new)
(14a) It is also necessary to regulate some additional areas to reflect the specificity of loans relating to residential immovable property. Given the significance of the transaction it is necessary to ensure that consumers are provided with sufficient time to take a decision. Nevertheless, due to the differences in mortgage traditions and legal requirements between the Member States, it is not possible to standardise a fixed reflection period or a right to withdrawal throughout the Union.
Amendment 205 #
2011/0062(COD)
Proposal for a directive
Recital 14 b (new)
Recital 14 b (new)
(14b) Tying or bundling of products or services can provide the consumer with a commercial advantage when negotiating the mortgage credit. It is therefore important that such activities should not be prohibited. When tying or bundling products the consumer needs to be informed, in a transparent and coherent way, on the costs, content and terms of conditions of the products or services.
Amendment 209 #
2011/0062(COD)
Proposal for a directive
Recital 16
Recital 16
(16) The applicable legal framework should give consumers the confidence that creditors and credit intermediaries are acting in the best interests ofct transparently towards the consumer. A key aspect of ensuring such consumer confidence is the requirement to ensure a high degree of fairness, honesty and professionalism in the industry. While this Directive should require relevant knowledge and competence to be proven at the level of the institution, Member States should be free to introduce or maintain such requirements applicable to individual natural persons.
Amendment 212 #
2011/0062(COD)
Proposal for a directive
Recital 16 a (new)
Recital 16 a (new)
(16a) The applicable legal framework should not prevent consumers and creditors or consumers and credit intermediaries to conclude a unique contract, adapted to the requirements of both parties.
Amendment 213 #
2011/0062(COD)
Proposal for a directive
Recital 16 b (new)
Recital 16 b (new)
(16b) The legal framework should not impose extra costs on the industry by designing new rules that do not serve the consumer’s interest.
Amendment 214 #
2011/0062(COD)
Proposal for a directive
Recital 17
Recital 17
(17) Creditors and credit intermediaries frequently use advertisements, often featuring special terms and conditions, to attract consumers to a particular product. Consumers should, therefore, be protected against unfair or misleading advertising practices and should be able to compare advertisements. Specific provisions on the advertising of credit agreements relating to residential immovable property and a list of items to be included in advertisements and marketing materials directed at consumers are necessary to enable them to compare different offers. Such provisions should be proportionate to the nature and medium of the advertisement and should take into account the specificities of credit agreements relating to residential immovable property, for instance, the fact that if the loan repayments are not met, there is a risk of the consumer losing the property. Member States should remain free to introduce or maintain disclosure requirements in their national laws regarding advertising which does not contain information on the cost of credit.
Amendment 216 #
2011/0062(COD)
Proposal for a directive
Recital 20
Recital 20
(20) TIn accordance with the Commission Recommendation 2001/193/EC on pre-contractual information to be given to consumers by lenders offering home loans32 endorsed the Voluntary Code agreed in 2001 between associations and federations representing lenders and consumers and which contains athe Commission monitored the European Standardised Information Sheet (ESIS). This that provides information, personalised for the borrower, on the credit agreement being provided. In its Recommendation, the Commission committed to monitoring compliance with the Code as well as its effectiveness, and to consider presenting binding legislation should the terms of the Recommendation not be fully complied with. Evidence collected by the Commission has since highlighted the need to revise the content and presentation of the ESIS to ensure that it is clear, understandable and contains all information found to be relevant for consumers. The content and layout of the ESIS should incorporate the necessary improvements identified during consumer testing in all Member States. The structure of the sheet (in particular, the order of the information items) should be revised, the wording should be more user-friendly, while sections, such as ‘nominal rate’ and ‘annual percentage rate of charge’, should be merged and new sections, such as ‘external complaint body’ and ‘risks and warnings’, should be added.
Amendment 218 #
2011/0062(COD)
Proposal for a directive
Recital 22
Recital 22
(22) The consumer may still need additional assistance in order to decide which credit agreement, within the range of products proposed, is the most appropriate for his needs and financial situation. Creditors, and where the transaction is through a credit intermediary, credit intermediaries should provide such assistance in relation toexplanation about the credit products which they offer to the consumer. The relevant information, as well as the essential characteristics of the products proposed, should therefore be explained to the consumer in a personalised manner so that the consumer can understand the effects which they may have on his economic situation. Member States could determine when and to what extent such explanations are to be given to the consumer, taking into account the particular circumstances in which the credit is offered, the consumer’s need for assistance and the nature of individual credit products.
Amendment 219 #
2011/0062(COD)
Proposal for a directive
Recital 22
Recital 22
(22) The consumer may still need additional assistance in order to decide which credit agreement, within the range of products proposed, is the most appropriate for his needs and financial situation. Creditors, and where the transaction is through a credit intermediary, credit intermediaries should provide such assistance in relation to the credit products which they offer to the consumer. The relevant information, as well as the essential characteristics of the products proposed, should therefore be explained to the consumer in a personalised manner so that the consumer can understand the effects which they may have on his economic situation. Member States could determine when and to what extent such explanations are to be given to the consumer, taking into account the particular circumstances in which the credit is offered, the consumer’s need for assistance and the nature of individual credit products. Such explanation and provision of personalised information should not necessarily constitute a personal advice.
Amendment 221 #
2011/0062(COD)
Proposal for a directive
Recital 23
Recital 23
(23) In order to promote the establishment and functioning of the internal market and to ensure a high degree of protection for consumers throughout the Union, it is necessary to ensure the comparability of information relating to annual percentage rates of charge throughout the Union. The total cost of the credit to the consumer should comprise all the costs that the consumer has to pay in direct connection with the credit agreement, except for notarial costscosts regarding the guarantees (i.e. notary fees; registration and/or inscription taxes and/or fees; costs of pledging titles). Also indirect costs or incentives that will only be settled later (i.e. tax incentives) should not be taken into account. It should therefore include interest, commissions, taxes, fees for credit intermediaries and any other fees as well as the cost of credit insurance, the valuation of the property or other ancillary products, where these are obligatory in order to obtain the credit on the terms and conditions marketed. As the annual percentage rate of charge can at the pre- contractual stage be indicated only through an example, such an example should be representative. Therefore, it should correspond, for instance, to the average duration and total amount of credit granted for the type of credit agreement under consideration. Given the complexities of calculating an annual percentage rate of charge (for instance, for credits based on variable interest rates or non-standard amortisation) and in order to be able to accommodate product innovation, technical regulatory standards could be employed to amend or specify the method of calculation of the annual percentage rate of charge. The definition of and methodology used for calculating the annual percentage rate of charge in this Directive should be the same as those in Directive 2008/48/EC in order to facilitate consumer understanding and comparison. Those definitions and methodologies may, however, differ in the future should Directive 2008/48/EC be modified at a later date. Member States are free to maintain or introduce prohibitions on unilateral changes to the borrowing rate by the creditor.
Amendment 227 #
2011/0062(COD)
Proposal for a directive
Recital 24
Recital 24
(24) An assessment of creditworthiness should take into consideration all necessary factors that could influence a consumer’s ability to repay over the lifetime of the loan including, but not limited to, the consumer’s income, regular expenditures, credit score, past credit history, ability to handle interest rate adjustments, and other existing credit commitments. Additional provisions may be necessary to further elaborate on the different elements that may be taken into consideration in a creditworthiness assessment. Member States may issue guidance on the method and criteria to assess a consumer’s creditworthiness, for example by setting limits on loan-to-value or loan-to-income ratios.
Amendment 229 #
2011/0062(COD)
Proposal for a directive
Recital 25
Recital 25
(25) A negative creditworthiness assessment should indicate to the creditor that the consumer is unable to afford the credit and as a consequence, the creditor should not grant the credit. Such a negative outcome may derive from a wide range of reasons, including but not limited to the consultation of a database or a negative credit score. A positive creditworthiness assessment should not constitute an obligation for the creditor to provide credit.
Amendment 234 #
2011/0062(COD)
Proposal for a directive
Recital 26
Recital 26
(26) CUpon the request of the creditor, consumers should provide all available relevant information on their financial situation and personal circumstances to the creditor or intermediary in order to facilitate the creditworthiness assessment. The consumer should not, however, be penalised where he is not in a position to provide certain information or assessments of the future evolution of his financial situation. In situations where consumers knowingly provide incomplete or inaccurate information, Member States should be able to determine the appropriate penalties.
Amendment 235 #
2011/0062(COD)
Proposal for a directive
Recital 27
Recital 27
(27) Consultation of a credit database is a useful element in the assessment of creditworthiness. Some Member States require creditors to assess the creditworthiness of consumers on the basis of a consultation of the relevant database. Creditors should also be able to consult the credit database over the lifetime of the loan in order to identify and assess the potential for default. In the event that such a potential is evident or objectively demonstrated, the creditor should contact the consumer to discuss the different options to avoid the possibility of default, such as a rescheduling of the loan. In any event, the creditor should not consider withdrawing the credit without having first explored all possible alternatives with the consumer to avoid default. Pursuant to Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data33 , consumers should be informed by creditors of the consultation of the credit database prior to its consultation, and should have the right to access the information held on them in such a credit database in order to, where necessary, rectify, erase or block the personal data concerning them processed therein where it is inaccurate or has been unlawfully processed.
Amendment 237 #
2011/0062(COD)
Proposal for a directive
Recital 29
Recital 29
Amendment 239 #
2011/0062(COD)
Proposal for a directive
Recital 29 a (new)
Recital 29 a (new)
(29a) An assessment of an application for credit cannot be solely based on data obtained through the consultation of a database, nor can it be an automated decision or can it be solely based on systematic methods such as credit scoring systems.
Amendment 240 #
2011/0062(COD)
Proposal for a directive
Recital 29 b (new)
Recital 29 b (new)
(29b) When a database is used during the assessment of an application for credit, and the result of the database consultation is negative for the consumer, based on the data or on the lack of data therein, the creditor should inform the consumer thereof, of the name of the database consulted and of any other elements required by Directive 95/46/EC so as to enable the consumer to exercise his right to access and, where necessary, rectify, erase or block personal data concerning him and processed therein.
Amendment 242 #
2011/0062(COD)
Proposal for a directive
Recital 31
Recital 31
(31) In order to be in a position to understand the nature of the service, consumers should be made aware of what constitutes an expert personalised recommendation on suitable credit agreements for that consumer’s needs and financial situation (‘advice’) and when it is being provided and when it is not. It is therefore important to ensure that the service of advice is a distinct service which is separately remunerated in a manner transparent to the consumer. Consumers should also be able to rely on the competence of the adviser. Those providing advice should comply with general standards in order to ensure that the consumer is presented with a range of products suitable for his needs and circumstances and should also have the necessary professional competence to provide expert advice. That service should be based on a fair and sufficiently wide- ranging analysis of the products available on the market, in the case of provision of advice by an untied credit intermediary, or from within the creditor’s organisation in the case of provision of advice by the creditor or a tied credit intermediary, and on a close inspection of the consumer’s financial situation, preferences and objectives. Such an assessment should be based on up-to-date information and reasonable assumptions on the consumer’s circumstances during the lifetime of the loan. Member States may clarify how the suitability of a given product for a consumer should be assessed in the context of the provision of advice. The act of making a binding offer to a consumer does not in itself constitute advice.
Amendment 247 #
2011/0062(COD)
Proposal for a directive
Recital 31 a (new)
Recital 31 a (new)
(31a) In order to achieve the objectives of this Directive it is necessary to ensure that the performance of credit agreements and not just the formation of the agreement is sound. This requires a degree of flexibility, so as to ensure that the financial system serves the needs of consumers while preserving the indemnity of financial institutions. It is therefore appropriate, in line with the recommendations of the FSB, to allow contractual flexibility which enables creditors and consumers to manage and reduce the risks to which they are exposed during the life of the loan, through a contractual right to flexibility in payments, a right to convert a credit agreement back into the national currency and an appropriately calibrated contractual right to repay loans early. It is also appropriate to allow contractually concluded situations where either the creditor or consumer wishes to transfer the credit agreement, and to allow consumers to retain the credit agreement while providing different collateral provided such collateral is equivalent.
Amendment 252 #
2011/0062(COD)
Proposal for a directive
Recital 32
Recital 32
(32) A consumer’s ability to repay his credit prior to the expiry of his credit agreement may play an important role in promoting competition in the single market and the free movement of EU citizens. However, substantial differences exist between the national principles and conditions under which consumers have the ability to repay and the conditions under which such early repayment can take place. Whilst recognising the diversity in mortgage funding mechanisms and the range of products available, certain standards with regard to early repayment of credit are essential at Union level in order to ensure that consumers have the possibility to discharge their obligations before the date agreed in the credit agreement and the confidence to shop around for the best products to meet their needs. Member States should therefore ensure, either by legislation or by means of contractual clauses, that consumers have a statutory or contractual right to early repayment; nevertheless, Member States should be able to define the conditions for the exercise of such a right. These conditions may include time limitations on the exercise of the right, different treatmentthe exercise of such a right, should be subject to conditions depending on the type of the borrowing rate, whether fixed or variable, restrictions with regard to the circumstances under which the right may be exercised. Member States cshould also providensure that the creditor ishould be entitled to fair and objectively justified compensation for potential costs and losses directly linked to early repayment of the credit. The Member State should ensure that the consumer is informed about this compensation before concluding the mortgage contract and that the compensation is included in the terms and conditions of the contract. In any event if the early repayment falls within a period for which the borrowing rate is fixed, exercise of the right may be made subject to the existence of a speciallegitimate interest on the part of the consumer. Such speciallegitimate interest may for example occur in case of divorce or unemployment. Where a Member State chooses to lay down such conditions, these should not make the exercise of the right excessively difficult or onerous for the consumer.
Amendment 256 #
2011/0062(COD)
Proposal for a directive
Recital 32 a (new)
Recital 32 a (new)
Amendment 269 #
2011/0062(COD)
Proposal for a directive
Recital 40
Recital 40
Amendment 290 #
2011/0062(COD)
Proposal for a directive
Article 2 – paragraph 1 – point b
Article 2 – paragraph 1 – point b
(b) Credit agreements the purpose of which is to acquire or retain property rightsrights in rem in land or in an existing or projected residential building.
Amendment 294 #
2011/0062(COD)
Proposal for a directive
Article 2 – paragraph 1 – point c a (new)
Article 2 – paragraph 1 – point c a (new)
(ca) Credit agreements that do not require the reimbursement of the capital but are only repaid at the end of the term of the agreement, or those whose purpose is to provide temporary financing between the sale of one immovable property and the purchase of another.
Amendment 295 #
2011/0062(COD)
Proposal for a directive
Article 2 – paragraph 1 – point c b (new)
Article 2 – paragraph 1 – point c b (new)
(cb) Credit agreements for the refinancing of an existing credit agreement within the meaning of (a), (b), (c) and (d).
Amendment 299 #
2011/0062(COD)
Proposal for a directive
Article 2 – paragraph 2 – point a
Article 2 – paragraph 2 – point a
(a) Credit agreements designed to facilitate consumption which will eventually be repaid from the sale proceeds of an immovable property.
Amendment 303 #
2011/0062(COD)
Proposal for a directive
Article 2 – paragraph 2 – point b a (new)
Article 2 – paragraph 2 – point b a (new)
(ba) Credit agreements which relate to loans granted to a restricted public under a statutory provision with a general interest purpose, and at lower interest rates than those prevailing on the market or free of interest or on other terms which are more favourable to the consumer than those prevailing on the market and at interest rates not higher than those prevailing on the market.
Amendment 325 #
2011/0062(COD)
Proposal for a directive
Article 3 – paragraph 1 – point j
Article 3 – paragraph 1 – point j
(j) ‘Staff’ means any employees of the creditor or credit intermediary having direct contacts with the consumers and who are engaged inperform the activities covered by article 3(b) and (e) of this Directive.
Amendment 327 #
2011/0062(COD)
Proposal for a directive
Article 3 – paragraph 1 – point k
Article 3 – paragraph 1 – point k
(k) ‘Total cost of the credit to the consumer’ means the total cost of the credit to the consumer as defined in Article 3(g) of Directive 2008/48/ECall costs, including interest, commissions, taxes and any other kind of fees, which the consumer is required to pay in direct connection with the credit agreement and which are known to the lender, except costs regarding the guarantees and except insurance premiums, credit insurance however not being included in the latter; costs in respect of ancillary services relating to the credit agreement, in particular costs relating to the valuation of the property, are also included if the conclusion of a service contract is compulsory in order to obtain the credit or to obtain it on the terms and conditions marketed and these costs are known by the lender.
Amendment 333 #
2011/0062(COD)
Proposal for a directive
Article 3 – paragraph 1 – point o
Article 3 – paragraph 1 – point o
(o) ‘Creditworthiness assessment’ means the evaluation of a consumer’s ability to meet his debt obligationsll relevant factors known to the creditor at the time of the application to determine whether or not the prospective borrower will be able to repay the credit.
Amendment 340 #
2011/0062(COD)
Proposal for a directive
Article 3 – paragraph 1 – point r a (new)
Article 3 – paragraph 1 – point r a (new)
(ra) ‘Advice’ means the provision of a personal recommendation to a given consumer in respect of one or more transactions relating to credit agreements which suits best his needs, taking into account his specific situation.
Amendment 343 #
2011/0062(COD)
Proposal for a directive
Article 3 – paragraph 1 – point r b (new)
Article 3 – paragraph 1 – point r b (new)
(rb) ‘Valuer’ means a natural or legal person who, in the course of his trade, business or profession, carries out valuations of residential immovable property or the land on which such residential immovable property is or could be situated.
Amendment 355 #
2011/0062(COD)
Proposal for a directive
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Member States shall require that, when granting, intermediating or advising on credit and, where appropriate, ancillary services to consumers, the creditor or the credit intermediary acts honestly, fairly and, professionally in accordance with the best interests of the consumerand transparently.
Amendment 360 #
2011/0062(COD)
Proposal for a directive
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Member States shall ensure that the manner in which creditors remunerate their staff and the relevant credit intermediaries and the manner in which credit intermediaries remunerate their staff do not impede compliance with the obligation to act in accordance with the best interests of the consumers, as referred to in paragraph 1.
Amendment 373 #
2011/0062(COD)
Proposal for a directive
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(a) The staff of creditors and credit intermediaries who are in direct contact with the consumer possess an appropriate level of knowledge and competence in relation to the offering or granting of credit agreements within the meaning of Article 2, or the activity of credit intermediation as defined in Article 3(e). Where the conclusion of a credit agreement includes an ancillary service related to it, in particular insurance or investment services, they shall also possess appropriate knowledge and competence in relation to that ancillary service in order to satisfy the requirements set out in Article 19 of Directive 2004/39/EC and Article 4 of Directive 2002/92/EC.
Amendment 381 #
2011/0062(COD)
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
Amendment 384 #
2011/0062(COD)
Proposal for a directive
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. Home Member States can ask the authorised creditors and credit intermediaries to monitor the remuneration of their staff, as defined in Article 3, paragraph 2 (j) of this Directive, as regards with ethical business.
Amendment 385 #
2011/0062(COD)
Proposal for a directive
Article 6 – paragraph 3
Article 6 – paragraph 3
Amendment 394 #
2011/0062(COD)
Proposal for a directive
Article 6 – paragraph 4
Article 6 – paragraph 4
Amendment 437 #
2011/0062(COD)
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 – point g
Article 9 – paragraph 1 – subparagraph 2 – point g
(g) an indicative example of the total cost of credit foramount payable by the consumer and annual percentage rate of charge;
Amendment 460 #
2011/0062(COD)
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 1
Article 9 – paragraph 2 – subparagraph 1
Member States shall ensure that the creditor and, where applicable, the credit intermediary, without undue delay after the consumer has given the necessary information on his needs, financial situation and preferences in accordance with Article 145, provides the consumer with the personalised information needed to compare the credits available on the market, assess their implications and take an informed decision on whether to conclude a credit agreement. Such information, on paper or on another durable medium, shall be provided by means of the European Standardised Information Sheet (‘ESIS’), as set out in Annex II.
Amendment 471 #
2011/0062(COD)
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2
Article 9 – paragraph 2 – subparagraph 2
Member States shall ensure that when an offer binding on the creditor is provided to the consumer, it shall be accompanied by an ESIS. In such circumstances, Member States shall ensure that the credit agreement cannot be concluded until the consumer has had sufficient time to compare the offers, assess their implications and take an informed decision on whether to accept an offer, regardless of the means of conclusion of the contract. If the consumer has a right of withdrawal in respect of the credit agreement, this shall in itself be regarded as providing him with sufficient time to take a decision.
Amendment 481 #
2011/0062(COD)
Proposal for a directive
Article 9 – paragraph 3
Article 9 – paragraph 3
Amendment 491 #
2011/0062(COD)
Proposal for a directive
Article 9 a (new)
Article 9 a (new)
Article 9a Ancillary services Member states shall not prohibit creditors or credit intermediaries from tying or bundling of products or services when proposing a credit offer to the consumer. When tying or bundling products or services the creditor or credit intermediary need to inform the consumer, in a reasonable time before concluding the contract and in a transparent and coherent way, on the costs, content and terms of conditions of the ancillary products or services.
Amendment 506 #
2011/0062(COD)
Proposal for a directive
Article 10 – paragraph 3
Article 10 – paragraph 3
Amendment 512 #
2011/0062(COD)
Proposal for a directive
Article 10 – paragraph 4
Article 10 – paragraph 4
Amendment 515 #
2011/0062(COD)
Proposal for a directive
Article 11 – paragraph 1
Article 11 – paragraph 1
Member States shall ensure that creditors and, where applicable, credit intermediaries provide adequate explanations to the consumer on the proposed credit agreement(s) and any ancillary service(s), in order to place the consumer in a position enabling him to assess whether the proposed credit agreements are is adapted to his needs and financial situation. An adequ, where appropriate by explanation shall include the provision of personalised information on the characteristics of the credits on offer, without however formulating any recommendation. Creditors and, where applicable, credit intermediaries shall accurately assess the level of knowledge and experience with credit of the consumer by any means necessary so as to enable the creditor or the intermediary to determine the level of explanations to be given to the consumer and adjust such explanations accordinglyining the pre-contractual information to be provided in accordance with Articles 9 and 10, the essential characteristics of the products proposed and the specific effects they may have on the consumer, including the consequences of default in payment by the consumer. Member States may adapt the manner by which and the extent to which such assistance is given, as well as by whom it is given, to the particular circumstances of the situation in which the credit agreement is offered, the person to whom it is offered and the type of credit offered.
Amendment 530 #
2011/0062(COD)
Proposal for a directive
Article 12 – paragraph 2 – subparagraph 2
Article 12 – paragraph 2 – subparagraph 2
Where the opening of an account is obligatory in order to obtain the credit on the terms and conditions marketed, the costs of maintaining such an account, the costs of using a means of payment for both payment transactions and drawdowns on that account, and other costs relating to payment transactions shall be included in the total cost of credit to the consumer, unless the costs have been clearly and separately shown in the credit agreement or in any other agreement concluded with the consumer.
Amendment 538 #
2011/0062(COD)
Proposal for a directive
Article 12 – paragraph 5
Article 12 – paragraph 5
Amendment 568 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 2 – point a
Article 14 – paragraph 2 – point a
Amendment 575 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 2 – point a a (new)
Article 14 – paragraph 2 – point a a (new)
(a a) An assessment of an application for credit will not be solely based on data obtained through the consultation of a database. Nor can it be an automated decision or can it be solely based on systematic methods such as credit scoring systems.
Amendment 579 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 2 – point b
Article 14 – paragraph 2 – point b
(b) Where the credit application is rejected, the creditor informs the consumer immediatwithout delay and without charge of the reasons for rejection.
Amendment 581 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 2 – point d
Article 14 – paragraph 2 – point d
Amendment 584 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 2 – point d a (new)
Article 14 – paragraph 2 – point d a (new)
Amendment 589 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 2 – point e
Article 14 – paragraph 2 – point e
(e) Without prejudice to the general right of access contained in Article 12 of the Directive 95/46/EC, where the application is rejected on the basis of an automated decision or a decision based on methods such as automated credit scoring, the creditor informs the consumer immediately and without charge and that the creditor explains the general logic involved in the automated decision to the consumer.
Amendment 590 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 2 – point e
Article 14 – paragraph 2 – point e
(e) Without prejudice to the general right of access contained in Article 12 of the Directive 95/46/EC, where the application is rejected on the basis of an automated decision or a decision based on methods such as automated credit scoring, the creditor informs the consumer immediately and without charge and that the creditor explains the logic involved in the automated decision to the consumer and gives adequate information about the reason for such decline.
Amendment 598 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 4
Article 14 – paragraph 4
Amendment 607 #
2011/0062(COD)
Proposal for a directive
Article 14 – paragraph 5
Article 14 – paragraph 5
Amendment 616 #
2011/0062(COD)
Proposal for a directive
Article 15 – paragraph 2 – subparagraph 1
Article 15 – paragraph 2 – subparagraph 1
As regards the information to be provided by the consumer in order for the creditor to be able to conduct a thorough assessment of the consumer's creditworthiness and make a decision on whether or not to grant the credit, Member States shall ensure that creditors, at the pre-contractual phase, clearly specify the information, including independently verifiable evidence where necessary, that the consumer needs to provide. Member States shall also ensure that creditors state the exact timing by which consumers are required to provide such information.
Amendment 626 #
2011/0062(COD)
Proposal for a directive
Article 16 – paragraph 2
Article 16 – paragraph 2
Amendment 633 #
2011/0062(COD)
Proposal for a directive
Article 17 – paragraph 1
Article 17 – paragraph 1
1. For the purposes of this Directive, ‘advice’ constitutes a separate service from the granting of a credit. Such a service can only be marketed as advice when the remuneration of the individual providing the service is transparent to the consumer.
Amendment 640 #
2011/0062(COD)
Proposal for a directive
Article 17 – paragraph 2 – introductory part
Article 17 – paragraph 2 – introductory part
2. Member States shall ensure that the creditor or credit intermediary informs the consumer, in the context of a given transaction, whether or not advice is being or will be provided, and if applicable, indicates the fee payable by the consumer for the provision of advice. This may be done through additional pre-contractual information. Where advice is provided to consumers, in addition to the requirements set out in Articles 5 and 6, Member States shall ensure that creditors and credit intermediaries:
Amendment 648 #
2011/0062(COD)
Proposal for a directive
Article 17 – paragraph 2 – point a
Article 17 – paragraph 2 – point a
(a) consider a sufficiently large number of credit agreements available on the market, in the case of provision of advice by an untied credit intermediary, or from within the creditor's organisation, in the case of provision of advice by the creditor or a tied credit intermediary, so as to enable the recommendation of the most suitable credit agreements for the consumer's needs, financial situation and personal circumstances;
Amendment 661 #
2011/0062(COD)
Proposal for a directive
Article 18 – paragraph 1
Article 18 – paragraph 1
1. Member States shall ensure that the consumer has a statutory or contractual right to discharge his obligations under a credit agreement prior to the expiry of that agreement. In such cases, he shall be entitled to a reduction in the total cost of the credit, such a reduction consisting of the interest and the costs for the remaining duration of the contract, without prejudice to the provisions contained in paragraph 2.
Amendment 671 #
2011/0062(COD)
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 1
Article 18 – paragraph 2 – subparagraph 1
Member States mayshall provide that the exercise of the right referred to in paragraph 1 is subject to certain conditions. Such conditions may include time limitations on the exercise of the right, different treatment depending on the type of the borrowing rate, or restrictions with regard to the circumstances under which the right may be exercised. Member States may also provide that the creditor should be entitled to fair and objectively justified compensation for potential costs directly linked to early repayment of the credit. In any event, if the early repayment falls within a period for which the borrowing rate is fixed, exercise of the right may be made subject to the existence of a special interest on the part of the consumer.
Amendment 686 #
2011/0062(COD)
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 2 a (new)
Article 18 – paragraph 2 – subparagraph 2 a (new)
Member States shall ensure that the creditor is entitled to fair and objectively justified compensation for potential costs and losses directly linked to early repayment of the credit.
Amendment 688 #
2011/0062(COD)
Proposal for a directive
Article 18 a (new)
Article 18 a (new)
Article 18a Portability Member States may investigate the possibility to establish national legal frameworks for lenders allowing borrowers on a contractual basis to keep a credit agreement when moving house provided that the value of the new property is sufficient to serve as the collateral required by the credit agreement.
Amendment 693 #
2011/0062(COD)
Proposal for a directive
Article 18 b (new)
Article 18 b (new)
Article 18a Payment flexibility In cases where creditors and consumers agree to make payments which exceed the amount required by the amortisation structure of the loan contained in the credit agreement, the lender is entitled to fair and objectively justified compensation which needs to be concluded in the mortgage credit contract.
Amendment 698 #
2011/0062(COD)
Proposal for a directive
Article 18 c (new)
Article 18 c (new)
Article 18c Reverse agreements Member States may assess, in order to cover risks of aging or retirement, the market potential for the development of reverse mortgages or other credit products under which a sum of money is advanced or paid periodically to the consumer to allow access to equity in the residential immovable property and which will eventually be repaid from the sale of the residential immovable property.
Amendment 711 #
2011/0062(COD)
Proposal for a directive
Article 18 d (new)
Article 18 d (new)
Article 18d Valuation of residential immovable property Member States may ensure that valuers carrying out valuations of residential immovable property which are used to value the collateral in credit agreements are carried out according to the international valuation standards regarding independence and minimum professional standards for valuers.
Amendment 712 #
2011/0062(COD)
Proposal for a directive
Article 18 e (new)
Article 18 e (new)
Article 18e Property indices Member States may promote the use of indices of residential immovable property prices at national and regional level in order to provide an improved basis for the monitoring of trends in valuation of residential immovable property.
Amendment 714 #
2011/0062(COD)
Proposal for a directive
Article -19 a (new)
Article -19 a (new)
Article -19a General prudential requirements The ESRB shall assess continually the risk profile of residential immovable property in order to detect speculative bubbles, market instabilities and developments with implications for systemic risk taking into account the specific national features of these markets.
Amendment 715 #
2011/0062(COD)
Proposal for a directive
Article -19 b (new)
Article -19 b (new)
Article -19b Prudential requirements 1. Member States shall ensure that the competent authorities pay particular attention to the following risk features: (a) the loan is granted in a foreign currency; (b) credit agreements which allow for significant variation in interest payments during the term of the agreement; 2. Member States shall ensure that local competent authorities have powers to specify additional features.
Amendment 734 #
2011/0062(COD)
Proposal for a directive
Article 24 – paragraph 1 – subparagraph 2
Article 24 – paragraph 1 – subparagraph 2
Member States shall provide for penalties in particular cases where consumers knowingly provide incomplete or incorrect information in order to obtain a positive creditworthiness assessment where the complete and correct information would have resulted in a negative creditworthiness assessment, and are subsequently unable to fulfil the conditions of the agreement, and shall take all measures necessary to ensure that they are implemented.
Amendment 737 #
2011/0062(COD)
Proposal for a directive
Article 24 – paragraph 2
Article 24 – paragraph 2
2. Member States shall ensure that the competent authority discloses to the public any measure or sanction that will be imposed for infringement of the provisions adopted in the implementation of this Directive, unless such disclosure would seriously jeopardise the financial markets or cause disproportionate damage to the parties involvrights of the defendant are taken into account whenever a penalty or any other kind of measure is imposed.
Amendment 739 #
2011/0062(COD)
Proposal for a directive
Article 26 – paragraph 1
Article 26 – paragraph 1
Amendment 744 #
2011/0062(COD)
Proposal for a directive
Article 26 – paragraph 2
Article 26 – paragraph 2
Amendment 746 #
2011/0062(COD)
Proposal for a directive
Article 26 – paragraph 3
Article 26 – paragraph 3
Amendment 751 #
2011/0062(COD)
Proposal for a directive
Article 27 – paragraph 1
Article 27 – paragraph 1
Amendment 755 #
2011/0062(COD)
Proposal for a directive
Article 27 – paragraph 2
Article 27 – paragraph 2
Amendment 756 #
2011/0062(COD)
Proposal for a directive
Article 27 – paragraph 3
Article 27 – paragraph 3
Amendment 758 #
2011/0062(COD)
Proposal for a directive
Article 28 – paragraph 1
Article 28 – paragraph 1
Amendment 759 #
2011/0062(COD)
Proposal for a directive
Article 28 – paragraph 2
Article 28 – paragraph 2
Amendment 760 #
2011/0062(COD)
Proposal for a directive
Article 28 – paragraph 3
Article 28 – paragraph 3
Amendment 763 #
2011/0062(COD)
Proposal for a directive
Article 29 – paragraph 1 a (new)
Article 29 – paragraph 1 a (new)
Amendment 764 #
2011/0062(COD)
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
Amendment 765 #
2011/0062(COD)
Proposal for a directive
Article 29 – paragraph 3
Article 29 – paragraph 3
Amendment 766 #
2011/0062(COD)
Proposal for a directive
Article 30 a (new)
Article 30 a (new)
Article 30 a Transitional Measures The Directive shall not apply to credit agreements existing on the date when the national implementing measures enter into force.
Amendment 768 #
2011/0062(COD)
Proposal for a directive
Annex 1 – part I – paragraph 2 – point d
Annex 1 – part I – paragraph 2 – point d
d) The result of the calculation shall be expressed with an accuracy of at least one decimal place. If the figure at the following decimal place is greater than or equal to 5, the figure at that particulare preceding decimal place shall be increased by one.
Amendment 771 #
2011/0062(COD)
Proposal for a directive
Article 31 – paragraph 2 – point g
Article 31 – paragraph 2 – point g