10 Amendments of Paul TANG related to 2020/0106(COD)
Amendment 84 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) The purpose of the Solvency Support Instrument is to help viable companies to overcome this difficult period so that they are in a position to carry the recovery, to safeguard sustainable employment levels, and to counter-balance the expected distortions in the single market.
Amendment 93 #
Proposal for a regulation
Recital 4
Recital 4
(4) CViable companies supported under the Solvency Support Instrument should be established and operating in the Union, meaning that they should have their registered office in a Member State and should be active in the Union in the sense that they have substantial activities in terms of staff, manufacturing, research and development or other business activities in the Union. They should pursue activities in support of objectives covered by this Regulation. They should have a viable business model and not have been in difficulty in terms of the State aid framework7 already at end 2019. Support should only be targeted at eligible companies operating in those Member States and sectors which are most impacted by the Covid-19 crisis and/or where the availability of State solvency support is more limited. _________________ 7 As defined in Article 2(18) of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty (OJ L 187, 26.6.2014, p.1).
Amendment 97 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) The Steering Board should set specific geographical concentration limits for the solvency support window, in line with the indicators and methodology established by the Commission, in order to ensure, respectively, that the EU guarantee under the Solvency Support Instrument supports only eligible companies in Member States and sectors which have been economically most adversely affected by the COVID-19 pandemic and that guarantee supports only eligible companies in Member States, where the possibility of State solvency support is most limited.
Amendment 153 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EU) 2015/1017
Article 2 – paragraph 1 – point 9
Article 2 – paragraph 1 – point 9
(9) ‘companies’ means for the purposes of the solvency support window companies, project companies, public- private partnerships and other legal structures established in Member States respecting the fundamental values of the Union and the rule of law.
Amendment 168 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) 2015/1017
Article 6 – paragraph 1 – point a – subparagraph 1 a (new)
Article 6 – paragraph 1 – point a – subparagraph 1 a (new)
However, support under the solvency support window shall only be granted if it is to the benefit of viable companies that were not in difficulty in State aid terms8 already at the end of 2019 but since then face significant solvency risks due to the crisis caused by the Covid-19 pandemic; _________________ 8As defined in Article 2(18) of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty (OJ L 187, 26.6.2014, p. 1).
Amendment 173 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 a (new) Regulation (EU) 2015/1017
Article 1 – paragraph 1 – point 7 a (new) Regulation (EU) 2015/1017
(7a) In Article 7 paragraph 2 is amended as follows: "2. The EFSI Agreement shall provide that the EFSI is to be governed by a gender balanced composed steering board, which, for the purpose of the use of the EU guarantee, is to determine, in conformity with the general objectives set out in Article 9(2):"
Amendment 208 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 a (new) Regulation (EU) 2015/1017
Article 1 – paragraph 1 – point 14 a (new) Regulation (EU) 2015/1017
(14a) in Article 9, the following paragraph is added: ‘7a. Beneficiaries that receive EFSI financing shall not make dividend payments, non-mandatory coupon payments or buy back shares during the period of the guarantee. The remuneration of any member of the management of a beneficiary that receives EFSI financing shall not go beyond the fixed part of that members’ remuneration on 31 December 2019. For a person becoming a member of the management on or after the granting of EFSI financing, the applicable limit shall be the lowest fixed remuneration of any member of the management on 31 December 2019. Bonuses or other variable or comparable remuneration elements shall not be paid under any circumstances.’
Amendment 227 #
Proposal for a regulation
Article 1 – paragraph 1 – point 29 a (new)
Article 1 – paragraph 1 – point 29 a (new)
Regulation (EU) 2015/1017
Article 18 – paragraph 3 – point a
Article 18 – paragraph 3 – point a
(29a) in Article 18(3), point a is amended as follows: "(a) the EIB shall publish a comprehensive report on the functioning of the EFSI, which shall include an evaluation of the impact of the EFSI on sustainable investment in the Union, sustainable employment creation an, solvency of companies and improved access to financing for SMEs and mid-cap companies;"
Amendment 229 #
Proposal for a regulation
Article 1 – paragraph 1 – point 29 b (new)
Article 1 – paragraph 1 – point 29 b (new)
Regulation (EU) 2015/1017
Article 18 – paragraph 3 – point b
Article 18 – paragraph 3 – point b
(29b) in Article 18(3), point b is amended as follows: ‘(b) the Commission shall publish a comprehensive report on the use of the EU guarantee and the functioning of the guarantee fund and its impact on the sustainable recovery of the Union and the sustainable solvency of companies in the Union benefitting of this guarantee.’
Amendment 231 #
Proposal for a regulation
Article 1 – paragraph 1 – point 29 c (new)
Article 1 – paragraph 1 – point 29 c (new)
Regulation (EU) 2015/1017
Article 22 a (new)
Article 22 a (new)