15 Amendments of Dimitris TSIODRAS related to 2024/0017(COD)
Amendment 29 #
Proposal for a regulation
Recital 12
Recital 12
(12) Screening foreign investments should be carried out in accordance with this Regulation, taking into account all factual information available and adhering to the principle of proportionality and other principles enshrined in the Treaties. Member States should ensure that their screening mechanisms limit administrative burdens and delays for foreign investors, for example by creating simplified procedures and reduced review timelines for investments without particular economic significance. Moreover, the screening of foreign investments which are carried out through subsidiaries of the foreign investor established in the Union should in all cases comply with the requirements stemming from Union law, and in particular with the Treaty provisions on freedom of establishment and free movement of capital, as interpreted in the case-law of the Court of Justice of the European Union, consistently with the objective of preserving an open and inclusive internal market. Any restrictions to the freedom of establishment and free movement of capital in the Union, including the screening and measures arising from screening, such as mitigating measures and prohibitions should be based on a genuine and sufficiently serious threat to a fundamental interest of society, and should be appropriate and necessary as set out in the case law of the Court of Justice. At the same time, when assessing the justification and proportionality of a restriction, the specificities of investments within the Union operated through a subsidiary of a foreign investor may be taken into account when assessing any restrictions on freedom of establishment or to the free movement of capital, including where appropriate in any Commission opinion adopted pursuant to this Regulation. This should be done taking into account the integration of Member State schemes into a Union-wide cooperation mechanism.
Amendment 33 #
Proposal for a regulation
Recital 18
Recital 18
(18) To ensure consistent and predictable screening processes, it is appropriate to lay down the essential features of the screening mechanisms to be implemented by Member States. Those features should at least include the scope of the transactions to be subject to an authorisation requirement, deadlines for the screening and the possibility for undertakings concerned by the screening decision to seek recourse against such decisions. Rules and procedures relating to screening mechanisms should be transparentSufficient resources should be provided to the screening authority to effectively implement such screening processes. Rules and procedures relating to screening mechanisms should be transparent, cause minimal administrative burden while avoiding undue delays for the applicants and should not discriminate between third countries.
Amendment 34 #
Proposal for a regulation
Recital 18 a (new)
Recital 18 a (new)
(18 a) To ensure procedural predictability and consistency with transaction approval processes that often occur simultaneously to foreign investment screening, Member States should specify and adhere to clear and reasonable review timelines. In particular, Member States should endeavour to screen investments under this Regulation on a similar timeline to those defined in Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations and Regulation (EU) 2022/2560 of the European Parliament and of the Council of 14 December 2022 on foreign subsidies distorting the internal market, or under national merger control rules.
Amendment 55 #
Proposal for a regulation
Recital 44
Recital 44
(44) The Commission should evaluate the functioning and effectiveness of this Regulation 5 years after the date of application of this Regulation and every 5 years after that and present a report to the European Parliament and to the Council. The report should also focus on the adequacy of the list of projects, programmes and the list of technologies in the Annexes of this Regulation. That report should include an assessment of whether or not this Regulation should be amended. Where the report proposes amending this Regulation, it may be accompanied by a legislative proposal.
Amendment 72 #
Proposal for a regulation
Article 4 – paragraph 2 – point a
Article 4 – paragraph 2 – point a
(a) adequate procedures and means shall be provided for the screening authority to determine whether it has jurisdiction over a foreign investment filed for authorisation and to carry out an initial review followed by, where necessary, an in-depth investigation to determine whether that foreign investment is likely to negatively affect security or public order. The purpose of the in-depth investigation shall be, in particular, to determine whether a screening decision as referred to in Article 14(1) is appropriate and to determine its content.;
Amendment 80 #
Proposal for a regulation
Article 4 – paragraph 2 – point c
Article 4 – paragraph 2 – point c
(c) the screening authority shall be empowered to start screening foreign investments by its own initiative for at least 15 months after the completion of a foreign investment that is not subject to an authorisation requirement where the screening authority has grounds to consider that the foreign investment may affect security or public order; This does not cover already screened foreign investments unless it is demonstrated that the foreign investor has provided false, misleading or incomplete information.
Amendment 84 #
Proposal for a regulation
Article 4 – paragraph 2 – point d
Article 4 – paragraph 2 – point d
(d) confidential information, including commercially sensitive information, made available to the Member State carrying out the screening shall be protected; The Member State carrying out the screening shall give concerned undertakings the opportunity to indicate which information made available they consider to be confidential;
Amendment 85 #
Proposal for a regulation
Article 4 – paragraph 2 – point f
Article 4 – paragraph 2 – point f
(f) an annual report shall be made public, and shall include information on relevant legislative developments in the Member State, criteria used to assess whether an investment is likely to negatively affect security or public order and aggregate and anonymised data on the investments screened, including the outcome of screening decisions, nationalities, or country of establishment as the case may be, of parties to the investments notified to the screening authority, and the economic sectors in which those transactions took place;
Amendment 86 #
Proposal for a regulation
Article 4 – paragraph 2 – point g
Article 4 – paragraph 2 – point g
(g) foreign investments subject to an authorisation requirement as referred to in paragraph 4 shall be filed by the applicant requesting authorisation with the screening authority and shall be screened before the foreign investment is completed; The screening authority shall limit administrative burdens and undue delays for the applicant requesting authorisation.
Amendment 89 #
Proposal for a regulation
Article 4 – paragraph 3
Article 4 – paragraph 3
3. Before taking a decision to authorise a foreign investment subject to mitigating measures or to prohibit a foreign investment, Member States shall inform the applicant requesting an authorisation and state the reasons on which they intend to take their decision, subject to the protection of information the disclosure of which would be contrary to the security or public order interests of the EU or one or more of the Member States and without prejudice to Union and national law concerning the protection of confidential information. Member States shall give the foreign investor the opportunity to make their views known and shall take this input into account before taking such decision.
Amendment 91 #
Proposal for a regulation
Article 4 – paragraph 4 – point b
Article 4 – paragraph 4 – point b
(b) is economically active in one of the areasdesigns, develops or produces items or operates an entity of a type listed in Annex II.
Amendment 109 #
Proposal for a regulation
Article 7 – paragraph 8 – point b – point i
Article 7 – paragraph 8 – point b – point i
(i) the extent to which it gave the Member States’ comments or the Commission opinion utmost consideration; or
Amendment 110 #
Proposal for a regulation
Article 7 – paragraph 8 – point b – point ii
Article 7 – paragraph 8 – point b – point ii
(ii) the reason for its disagreement with the Member States’ comments or the Commission opinion.
Amendment 131 #
Proposal for a regulation
Article 10 – paragraph 4
Article 10 – paragraph 4
4. Where necessary, the Member State where the foreign investment is planned or has been completed may request the applicant requesting an authorisation or any other relevant undertaking to provide the information referred to in paragraphs 1 and 3. The request for information may concern information necessary for the Member State to determine if any of the conditions set out in Article 5(1) are met. The undertaking concerned shall provide the requested information to the Member State where the foreign investment is planned or has been completed within 15 calendar days of the request. Any request for information pursuant to this paragraph shall be duly justified, limited to the information necessary for the Member State where the foreign investment is planned or has been completed to determine whether that foreign investment is likely to negatively affect security or public order, proportionate to the purpose of the request and not unduly burdensome for the undertaking concerned.
Amendment 163 #
Proposal for a regulation
Article 14 – paragraph 1 – subparagraph 2
Article 14 – paragraph 1 – subparagraph 2
The screening decision shall comply with the principle of proportionality, be based on a genuine and sufficiently serious threat to security or public order and take into consideration all circumstances of the foreign investment.