9 Amendments of Daniel BUDA related to 2018/0044(COD)
Amendment 17 #
Proposal for a regulation
Recital 2
Recital 2
(2) Pursuant to Article 81 of the Treaty, these measures are to include those aimed at ensuring the compatibility of the rules applicable in the Member States concerning the conflict of laws and competence.
Amendment 19 #
(11) CNo harmonised set of rules on the conflict of laws rules governing the third-party (or proprietary) effects of assignments of claims do not currently exist at Union level. These conflict of laws rules are laid down at Member State level, but they are inconsistent and often unclear- being based on different connecting factors to determine the applicable law - and therefore unclear, especially in those countries where such rules are not governed by separate legislative provisions. In cross-border assignments of claims, the inconsistency of national conflict of laws rules leads to legal uncertainty as to which law applies to the third-party effects of the assignments. The lack of legal certainty creates a legal risk in cross-border assignments of claims which does not exist in domestic assignments as different national substantive rules may be applied depending on the Member State whose courts or authorities assess a dispute as to the legal title over the claims; implicitly, the outcome of a priority conflict as to who owns a claim further to a cross-border assignment will vary, depending on the national law applied.
Amendment 23 #
Proposal for a regulation
Recital 13
Recital 13
(13) The objective of this Regulation is to provide legal certainty by laying down common conflict of laws rules designating which national law applies to the third- party effects of assignments of claims, increasing cross-border claims transactions, so as to encourage cross- border investment in the EU and facilitate access to finance for firms - including SMEs - and consumers.
Amendment 27 #
Proposal for a regulation
Recital 15
Recital 15
Amendment 31 #
Proposal for a regulation
Recital 18
Recital 18
(18) Matters governed by the Financial Collateral Directive44, the Settlement Finality Directive45, the Winding-Up Directive46and the Registry Regulation47 should not be affected by this Regulation. _________________, since the scope of the conflict of laws rules contained in this Regulation and that of the conflict of laws rules contained in the three Directives do not therefore overlap. 44 Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements, OJ L 168, 27.6.2002, p. 43–50. 45 Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems, OJ L 166, 11.6.1998, p. 45–50. 46 Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions, OJ L 125, 5.5.2001, p. 15–23. 47 Commission Regulation (EU) No 389/2013 of 2 May 2013 establishing a Union Registry pursuant to Directive 2003/87/EC of the European Parliament and of the Council, Decisions No 280/2004/EC and No 406/2009/EC of the European Parliament and of the Council and repealing Commission Regulations (EU) No 920/2010 and No 1193/2011, OJ L 122, 3.5.2013, p. 1–59.
Amendment 36 #
Proposal for a regulation
Recital 30
Recital 30
(30) The scope of the national law designated by this Regulation as the law applicable to the third-party effects of an assignment of claims should be uniform. The national law designated as applicable should govern in particular (i) the effectiveness of the assignment against third parties, that is, the steps that need to be taken by the assignee in order to ensure that he acquires legal title over the assigned claim (for example, registering the assignment with a public authority or registry, or notifying the debtor in writing of the assignment); and (ii) priority issues, that is, the resolution of conflicts between several claimants as to who has title over the claim following a cross-border assignment (for example, between two assignees where the same claim has been assigned twice, or between an assignee and a creditor of the assignor).
Amendment 38 #
Proposal for a regulation
Recital 34
Recital 34
(34) This Regulation respects the fundamental rights and observes the principles recognised in the Charter of Fundamental Rights of the European Union. In particular, this Regulation seeks to promote the application of Articles 17 and 47 concerning, respectively, the right to property and the right to an effective remedy and to a fair trial, as well as Article 16 concerning the freedom to conduct a business.
Amendment 47 #
Proposal for a regulation
Article 2 – paragraph 1 – point h
Article 2 – paragraph 1 – point h
Amendment 50 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1