40 Amendments of Stelios KOULOGLOU related to 2017/0224(COD)
Amendment 84 #
Proposal for a regulation
Recital 3
Recital 3
(3) Pursuant to the international commitments undertaken in the World Trade Organisation, the Organisation for Economic Cooperation and Development, and in the trade and investment agreements concluded with third countries, the Union and Members States may adopt restrictive measures relating to foreign direct investment only on the grounds of security or public order, and fundamental rights subject to certain requirements.
Amendment 91 #
Proposal for a regulation
Recital 5
Recital 5
(5) There is currently no comprehensive framework at EU-Union level for the screening of foreign direct investments on the grounds of security or public order. There are however several outlying countries which, due to austerity policies which had been imposed on them, were virtually forced to privatise key companies that consequently ended up in foreign ownership.
Amendment 101 #
Proposal for a regulation
Recital 7
Recital 7
(7) It is important to provide legal certainty and to ensure EU wide coordination and cooperation by establishing a framework for the screening of foreign direct investment in the Union on grounds of security or public order. This is without prejudice to the sole responsibility of theshould not interfere with the exclusive competence of Member States for the maintenance ofaining their national security.
Amendment 107 #
Proposal for a regulation
Recital 8
Recital 8
(8) The framework for the screening of foreign direct investment should provide the Member States and the Commission with the means to address risks to security or public order in a comprehensive manner, and to adapt to changing circumstances, whilst maintaining the necessary flexibility for Member States to screenassess foreign direct investments on grounds of security and public order taking into account their individual situations and national circumstances.
Amendment 111 #
Proposal for a regulation
Recital 9
Recital 9
(9) AThe framework for the screening of foreign direct investment could cover a broad range of investments which establish or maintain lasting and direct links between investors from third countries and undertakings carrying out an economic activity in a Member State should be covered, to the extent that they relate to security, public order, environment standards and social risks.
Amendment 122 #
Proposal for a regulation
Recital 11
Recital 11
(11) To guide Member States and the Commission in the application of the Regulation, it is appropriate to provide a list of factors that may be taken into consideration when screenassessing foreign direct investment on the grounds of security or, public order, environmental standards and social risks. This list will also improve transparency of the screening process for investors considering making or having made foreign direct investments in the Union. This list of factors that may affect security or, public order, environmental standards and social risks should remain non-exhaustive.
Amendment 131 #
Proposal for a regulation
Recital 12
Recital 12
(12) In determining whether a foreign direct investment may affect security or public order, Member States and the Commission should be able to consider all relevant factors, including the effects on job losses, social risks and environmental standards, critical infrastructure, technologies, including key enabling technologies, and inputs which are essential for security or the maintenance of public order, and the disruption, loss or destruction of which would have a significant impact in a Member State or in the Union. In that regard, Member States and the Commission should also be able to take into account whether a foreign investor is controlled directly or indirectly (e.g. through significant funding, including subsidies) by the government of a third country.
Amendment 140 #
Proposal for a regulation
Recital 13
Recital 13
(13) It is appropriate to lay down the essential elements of the procedural framework for the screening of foreign direct investment by Member States to allow investors, the Commission and other Member States to understand how such investments are likely to be screenassessed and to ensure that these investments are screenassessed in a transparent manner and that they are non-discriminatory between third countries. Those elements should at least include the establishment of timeframes for the screenassessing and the possibility for foreign investors to seek judicial redress of screening decisions.
Amendment 144 #
Proposal for a regulation
Recital 14
Recital 14
(14) A mechanism which enables Member States to cooperate and assist each other where a foreign direct investment in one Member State may affect the security or public order of other Member States should be set up. Member States should be able to provide comments to a Member State in which the investment is planned or has been completed, irrespective of whether the Member States providing comments or the Member States in which the investment is planned or has been completed maintain a screening mechanism or are screening the investment. The comments of Member States should also be forwarded to the Commission. The Commission should also have the possibility, where appropriate, to issue an opinion to the Member State in which the investment is planned or has been completed, irrespective of whether this Member State maintains a screening mechanism or is screening the investment and irrespective of whether other Member States have provided comments. Those Member States which do not have a screening mechanism already implemented should have the unique right to decide if they decide to implement a screening mechanism.
Amendment 158 #
Proposal for a regulation
Recital 15
Recital 15
(15) Furthermore, the Commission should have the possibility to screenassess foreign direct investments likely to affect projects and programmes of Union interest on grounds of security or public order. This would give the Commission a tool to protect projects and programmes which serve the Union as whole and represent an important contribution to its economic growth, jobs and competitiveness. This should include in particular projects and programmes involving a substantial EU funding or established by Union legislation regarding critical infrastructure, critical technologies or critical inputs. For greater clarity, an indicative list of projects or programmes of Union interest in relation to which foreign direct investment can be subject to a screening by the Commission should be listed in an Annex.
Amendment 166 #
Proposal for a regulation
Recital 16
Recital 16
(16) Where the Commission considers that a foreign direct investment is likely to affect projects or programmes of Union interest on grounds of security or public order, the Commission should have the possibility to address an opinion to the Member States in which such investment is planned or completed within a reasonable timeframe . The Member States should take utmost account of the opinion and provide an explanation to the Commission if they do not follow this opinion, in compliance with their duty of sincere cooperation under Article 4(3) TEU. The Commission should also have the possibility to request from those Member States the information necessary for its screening of such investment.
Amendment 175 #
Proposal for a regulation
Recital 17
Recital 17
(17) In order to facilitate the cooperation with other Member States and the screening of foreign direct investment by the Commission, Member States should notify their screening mechanisms and any amendment thereto to the Commission, and should report on the application of their screening mechanisms on a regular basis. For the same reasonHowever, Member States that do not have a screening mechanism shouldmay also report on the foreign direct investments that took place in their territory, on the basis of the information available to them.
Amendment 180 #
Proposal for a regulation
Recital 18
Recital 18
(18) To that end, it is also important to ensure a minimum level of information and coordination with regard to foreign direct investments falling under the scope of this Regulation in all Member States. This information should be made available by the Member States in which the foreign direct investment is planned or has been completed upon request of the Member States or of the Commission. Relevant information includes aspects such as the ownership structure of the foreign investor and the financing of the planned or completed investment, including, when available, information about subsides granted by third countries.
Amendment 198 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation establishes a framework for the screening by the Member States and the Commission of foreign direct investments in the Union on the grounds of security or public order, environmental standards and social risks.
Amendment 212 #
Proposal for a regulation
Article 2 – paragraph 1 – point 3
Article 2 – paragraph 1 – point 3
3. 'screening' means a procedure allowing to assess, investigate, authorise, condition, prohibit foreign direct investments; We should have in mind that only Member States have the unique authority to investigate, authorise, prohibit or unwind a foreign direct investments;.
Amendment 214 #
Proposal for a regulation
Article 3 – title
Article 3 – title
Amendment 215 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Member States may maintain, amend or adopt mechanisms to screenassess foreign direct investments on the grounds of security or public order, under the conditions and in accordance with the terms set out in this Regulationir own territory on the grounds of national interest, security or public order, or environmental standards and social risks, under the conditions and in accordance with the terms set out in this Regulation. Nationalisation shall be considered a means to employ when job losses, environmental standards and social conditions are at stake.
Amendment 228 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. The Commission may screenassess, upon justification, foreign direct investments that are likely to affect projects or programmes of Union interest on the grounds of security or public order, job losses, environmental standards and social risks.
Amendment 238 #
Proposal for a regulation
Article 3 – paragraph 3
Article 3 – paragraph 3
3. Projects or programmes of Union interest shall include in particular those projects and programmes which involve a substantial amount or a significant share of EU funding, or which are covered by Union legislation regarding job losses, environmental standards, social risks, critical infrastructure, critical technologies or critical inputs. An indicative list of projects or programmes of Union interest is included in Annex 1.
Amendment 249 #
Proposal for a regulation
Article 4 – title
Article 4 – title
Factors that may be taken into consideration in the screenassessing.
Amendment 307 #
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. Member States shall establish timeframes for issuing screening decisions and make them publicly available. Such timeframes shall allow them to take into account the comments of Member States referred to in Article 8 and the advisory opinion of the Commission referred to in Articles 8 and 9.
Amendment 319 #
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. Every screening mechanism shall consist in an ex-ante examination and shall lead to a formal authorisation by the relevant Member States. Foreign investors and undertakings concerned shall have the possibility to seek judicial redress against screening decisions of the national authorities.
Amendment 323 #
Proposal for a regulation
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1 a. No Member State shall be obliged to supply information especially when it considers its disclosure contrary to its essential national interests.
Amendment 332 #
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. Member States that do not maintain screening mechanisms shall upon justified request be able to provide the Commission with an annual report covering foreign directs investments that took place in their territory, on the basis of information available to them.
Amendment 341 #
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
1. Member States shallwhen they consider it necessary, may inform the Commission and the other Member States of any foreign direct investments that are undergoing screening within the framework of their screening mechanisms, within 5 working days fromafter the start of the screening. As part of the information, and when applicable, the screening Member States shall endeavour to indicate whether it considers that the foreign direct investment undergoing screening is likely to fall within the scope of Regulation (EC) No 139/2004.
Amendment 345 #
Proposal for a regulation
Article 8 – paragraph 1 a (new)
Article 8 – paragraph 1 a (new)
1 a. In the event of public competitions conducted under the Union law, paragraphs 2 and 4 of Article 8 shall not apply to the Member States whose companies are among the competitors for the specific asset under sale.
Amendment 353 #
Proposal for a regulation
Article 8 – paragraph 2
Article 8 – paragraph 2
2. Where a Member State considers upon justification that a foreign direct investment planned or completed in another Member State is likely to affect its security or public order, it may provide comments to the Member State where the foreign direct investment is planned or has been completed. The comments shall be forwarded to the Commission in parallel.
Amendment 358 #
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. Where the Commission considers that a foreign direct investment is likely to affect security or public order in one or more Member States, it may issue an advisory opinion addressed to the Member State in which the foreign direct investment is planned or has been completed. The Commission may issue an advisory opinion irrespective of whether other Member States have provided comments. However, it must be guaranteed that the Member States shall have the right to pursue with the foreign investment.
Amendment 367 #
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
4. The Commission or a Member State which duly considers that a foreign direct investment is likely to affect its security or public order may request from the Member State where the foreign direct investment is planned or has been completed, any information necessary to provide comments referred to in paragraph 2, or to issue the opinion referred to in paragraph 3, while paying utmost attention to the potential sensitivity of the information.
Amendment 376 #
Proposal for a regulation
Article 8 – paragraph 5
Article 8 – paragraph 5
5. Comments pursuant to paragraphs 2 or opinions pursuant to paragraph 3 shall be addressed to the Member State where the foreign direct investment is planned or has been completed within a reasonable period of time, and in any case no later than 25 working days following receipt of the information referred to in paragraphs 1 or 4. In cases where the opinion of the Commission follows comments from other Member States, the Commission shall have 25 additional working days for issuing the advisory opinion.
Amendment 394 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Where the Commission considers that a foreign direct investment is likely to affect projects or programmes of Union interest on grounds of security or public order, the Commission may issue an advisory opinion addressed to the Member State where the foreign direct investment is planned or has been completed. However, the Member State shall have the right to pursue with the foreign investment.
Amendment 409 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Commission may request from the Member State where the foreign direct investment is planned or has been completed any information necessary to issue the advisory opinion referred to in paragraph 1.
Amendment 414 #
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
3. The Commission shall address its opinion to the Member State concerned within a reasonable period of time, and in any case no later than 25 working days following receipt of the information requested by the Commission pursuant to paragraph 2. Where a Member State has a screening mechanism in place as referred to in Article 3(1) and the information on foreign direct investment undergoing screening has been received by the Commission pursuant to Article 8(1), the opinion shall be delivered no later than 25 working days following receipt of such information. Where additional information is needed to issue an advisory opinion, the 25-day period shall run from the date of receipt of the additional information.
Amendment 417 #
Proposal for a regulation
Article 9 – paragraph 4
Article 9 – paragraph 4
4. The advisory opinion of the Commission shall be communicated to the other Member States.
Amendment 422 #
Proposal for a regulation
Article 9 – paragraph 5
Article 9 – paragraph 5
5. The Member States where the foreign direct investment is planned or has been completed shall take utmost account of the Commission's opinion and provide an explanation to the Commission in case its opinion is not followed. However, the Commission's opinon should not be binding.
Amendment 430 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Member States shall ensure that the information requested by the Commission and other Member States upon justification pursuant to Articles 8(4) and 9(2) is made available to the Commission and the requesting Member States without undue delay.
Amendment 431 #
Proposal for a regulation
Article 10 – paragraph 2 – introductory part
Article 10 – paragraph 2 – introductory part
2. The information referred to in paragraph 1 of this Article shallmay include in particular:
Amendment 434 #
Proposal for a regulation
Article 10 – paragraph 2 – point a
Article 10 – paragraph 2 – point a
(a) The ownership structure of the foreign investor and of the undertaking in which the foreign direct investment is planned or has been completed, including information on the ultimate controlling shareholder or shareholders;
Amendment 438 #
Proposal for a regulation
Article 10 – paragraph 2 – point c
Article 10 – paragraph 2 – point c
(c) The products, services and business operations of the foreign investor and of the undertaking in which the foreign direct investment is planned or has been completed ;
Amendment 440 #
Proposal for a regulation
Article 10 – paragraph 2 – point d
Article 10 – paragraph 2 – point d
(d) The Member States in which the foreign investor and the undertaking in which the foreign direct investment is planned or has been completed conduct business operations;