3 Amendments of Ivars IJABS related to 2020/0106(COD)
Amendment 53 #
Proposal for a regulation
Recital 4
Recital 4
(4) 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, including intellectual property and/or strong technological R&D capabilities and not have been in difficulty in terms of the State aid framework7 already at end 2019. Support should 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 63 #
Proposal for a regulation
Recital 9
Recital 9
(9) The equity funds, special purpose vehicles, investment platforms and national promotional banks and institutions should provide equity or quasi-equity (such as hybrid debt, preferred stock or convertible equity) to eligible companies, but excluding entities targeting buy-out (or replacement capital) intended for asset stripping. The Commission should exercise regular oversight and control of the use of funds and take necessary steps to sanction the misuse of funds by participating actors.
Amendment 120 #
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Regulation (EU) 2015/1017
Article 10 – paragraph 2 – subparagraph 3 (new)
Article 10 – paragraph 2 – subparagraph 3 (new)
The eligible instruments under the solvency support window shall result in providing equity or quasi-equity to companies referred to in Article 3(c). Hybrid instruments may be used in line with Annex II if such instruments fulfil the purpose of the window. In the case of financing or guarantees provided to institutions, investment platforms, SPVs or funds that are majority-owned or controlled by a Member State, only hybrid capital instruments, such as preferred stocks, profit participation rights, or silent participations, which ensure a passive role of the Member State, shall be eligible under the solvency support window. The Steering Board shall provide detailed guidance concerning this point.