32 Amendments of João OLIVEIRA related to 2024/0017(COD)
Amendment 49 #
Proposal for a regulation
Recital 8
Recital 8
(8) A significant majority of Member States, but not all, have a legislative instrument in place that provides for a mechanism to screen FDIs. In many Member States, national laws also extend to screening intra-Union investments. Among the Member States, there are substantial differences as to the scope, thresholds and criteria used to assess whether an investment is likely to negatively affect security or public order. There are also differences in the screening processes. In certain Member States, the investment can be implemented before having received clearance with respect to the impact on security and public order. However, others require that the investment is only finalised after authorisation under the screening mechanism. Such divergences create a problem for the smooth functioning of the internal market. For example, they create an uneven playing field and increase compliance costs for investors seeking to notify transactions in more than one Member State. This Regulation helps in reducing divergences on key elements of the mechanisms implemented at national level. This is crucial to ensure predictability for investors on the applicable national regimes and their characteristics, thereby reducing the associated compliance costs. This is all the more relevant considering the level of integration of internal market, which may result in a single transaction impacting multiple Member States across the Union. It is for example possible that a transaction aimed to the acquisition of a target company in one Member State also affects security and public order in another Member State, due to the supply chain structure or other economic elements connecting the target with other companies based in a different Member States. In order to address these internal market problems and ensure greater consistency and predictability, it is appropriate that the criteria and elements to be used for the assessment of foreign investments are established through Union action, in cooperation with the relevant stakeholders, particularly national and European trade unions.
Amendment 59 #
Proposal for a regulation
Recital 14
Recital 14
(14) It is also necessary to make the Member State where the foreign investment is planned or completed more accountable toenter into dialogue with the Commission and to those Member States that express duly justified concerns for their public order or security or the Union’s.
Amendment 65 #
Proposal for a regulation
Recital 20
Recital 20
(20) To ensure that foreign investments likely to negatively affect security or public order in the Union are adequately identified, Member States should screen foreign investments where the Union target is part of or participates in a project or programme of Union interest or where the Union target’s economic activity relates to a technology, asset, facility, equipment, network, system or service of particular importance for the security or public order interests of the Union. Screening should also take into account the impact of the foreign investments on safeguarding the public interest in the production of goods and provision of essential services, socio- economic stability, employment, and working conditions. In addition to these criteria, screening mechanisms may apply to other sectors, Union targets or economic activities that the relevant Member State considers critical for its security or public order, public order, safeguarding the public interest in the production of goods and provision of essential services, public control of its strategic sectors or socio-economic stability.
Amendment 68 #
Proposal for a regulation
Recital 24
Recital 24
(24) Furthermore, to allow the protection of security or public order where the likely effect emanates from a foreign investment into a Union target that provides for the development, maintenance or acquisition of infrastructure, technologies or inputs, which are critical for the Union as a whole, the Commission should be allowmay be requested to issue an opinion. This would give the Commission a tool to protect projects and programmes which serve the Union as a whole and represent an important contribution to the Union’s based on criteria of protection of security or public order. A Commission opinion identifying the likely impact on projects or programmes of Union interest on the grounds of security or public order should be notified to all Member States.
Amendment 70 #
Proposal for a regulation
Recital 26
Recital 26
(26) To protect security or public order while providing greater certainty to investors, Member States should have the possibility to make comments and the Commission should have the possibility to issue an opinion on foreign investments that have been completed but not notified up to 15 months after the completion of the foreign investment.
Amendment 74 #
Proposal for a regulation
Recital 28
Recital 28
(28) In order to ensure that the likely effect of a foreign investment on the security or public order of one or more Member States is adequately addressed, Member States receiving duly justified comments from other Member States or an opinion from the Commission should give such comments or opinion utmost consideration, including where it considers that its ownMember States should be informed of the comments from other Member States or the Commission regarding what they consider to be the likely effects of a foreign investment on the security or, public order is not affected. The Member State should coord, safeguarding of public inate with the Commission and the Member States concerned if necessary and provide them with written feedback on the decision taken and how the comments and the opinion have been given utmost considerationrest in the production of goods or provision of essential services of one or more Member States. The final decision on foreign investments should remains the sole responsibility of the Member State where the foreign investment is planned or completed.
Amendment 80 #
Proposal for a regulation
Recital 32
Recital 32
(32) Member States or the Commission, as appropriate, might consider relevant information received from economic operators, civil society organisations, social partners (such as trade unions) about a foreign investment likely to negatively affect security or public order. If a foreign investment in a Member State could have negative social consequences or an impact on employment and working conditions in another Member State or in a sector under pressure, the trade unions of the countries in question and European trade unions should be consulted.
Amendment 82 #
Proposal for a regulation
Recital 34
Recital 34
(34) To ensure the efficiency and effectiveness of the cooperation mechanism, it is necessary to align deadlines and procedures when several foreign investments linked to the same broader transaction are screened in several Member States. In such multi-country transactions, the applicant should file the different requests for authorisation in the Member States concerned simultaneously. In addition, those Member States should notify the requests simultaneously to the cooperation mechanism. To ensure an efficient handling of these multi-country transactions, the Member States concerned should coordinate and agree on whether the foreign investments are notifiable and when they should be notified. Furthermore, the Member States concerned should also coordinate on the final decision. If the Member States concerned intend to authorise the foreign investment with conditions, they should ensure that these conditions are compatible with one another and address cross-border risks adequately. Before prohibiting a foreign investment, the Member States concerned should consider whether a conditional authorisation with coordinated measures and their coordinated enforcement is not sufficient to address the likely effect on security or public order. The Commission should be able tomay participate in such coordination.
Amendment 85 #
Proposal for a regulation
Recital 35
Recital 35
(35) To ensure a consistent approach to the screening of investments across the Union, it is essential that the standards and criteria used to assess likely risks to security and public order are those set at Union level in this Regulation. Those should includehe screening to be carried out by the Member States should take into account criteria such as: the impact on the security, integrity and functioning of critical infrastructure,; the availability of critical technologies (including key enabling technologies) and the continued supply of critical inputs for security or public order, the disruption, failure, loss or destruction of which would have a significant impact on security and public order in one or more Member States or on the Union as a whole; the social impact with regard to labour market disruption, job losses or deterioration of working conditions in the Member States concerned or another Member State as a result of the foreign investment; the environmental risks in the Member States concerned or in another Member State due to the foreign investment; the safeguarding of the public interest in the production of goods and provision of essential services, the public interest in the production of commodities and the provision of essential services, public control in strategically important sectors, such as energy, telecommunications, banking or insurance, and in essential public services, such as health, education or social security systems; consumer protection. In that regard, Member States and the Commission should also take into account the context and circumstances of the foreign investment. This should include, in particular, whether an investor is controlled directly or indirectly, for example through significant funding, by the government of a third country or is involved in pursuing policy objectives of third countries to facilitate their military capabilities. In this context, if applicable, Member States and the Commission should also consider why the foreign investor, its beneficial owner or any of its subsidiaries or a person acting on behalf or at the direction of such a foreign investor is subject to any type of Union restrictive measures pursuant to Article 215 TFEU.
Amendment 89 #
Proposal for a regulation
Recital 36
Recital 36
(36) Where the Member State where the foreign investment is planned or completed considers that a foreign investment is likely to negatively affect security or public order in the Union, it is appropriate to require, it is possible for that Member State to take appropriate measures to mitigate the risks, where such measures are available, and it considers them adequate, taking into utmost consideration the comments issued by other Member States and the opinion issued by the Commission, if applicable, as well as relevant stakeholders, such as national and European trade unions. Foreign investments should be prohibited only on an exceptional basis, and where mitigating measures or measures available under Union or national law other than the screening mechanism are not sufficient to mitigate the effect on security or public order.
Amendment 91 #
Proposal for a regulation
Recital 37
Recital 37
(37) To support the implementation of the cooperation mechanism and to foster the exchange of good practices among Member States, the expert group on the screening of foreign investments set up pursuant to Regulation (EU) 2019/452 should be maintained and broadened to include trade unions.
Amendment 96 #
Proposal for a regulation
Recital 49
Recital 49
(49) In order to take into account developments relating to projects or programmes of Union interest and to adapt the list of technologies, assets, facilities, equipment, networks, systems, services and economic activities of particular importance for the security or public order interests of the Union, the power to adopt acts in accordance with Article 290 TFEU should be delegated to the Commission in respect of amendments to the Annexes to this Regulation. The list of projects and programmes of Union interest set out in Annex I should cover projects or programmes covered by EU law which provide for the development, maintenance or acquisition of critical infrastructure, critical technologies or critical inputs which are essential for security or public order. The list of technologies, assets, facilities, equipment, networks, systems, services and economic activities of particular importance for the security or public order interests of the Union set out in Annex II should include areas where a foreign investment may affect security or public order in more than one Member State or in the Union as a whole through an Union target, which does not participate in or receive funds from a project or programme of Union interest. It is of particular importance that the Commission carries out appropriate consultations during its preparatory work, including at expert level and with trade unions, and that those consultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making16. In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member States’ experts, and their experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. _________________ 16 OJ L 123, 12.5.2016, p. 1.
Amendment 106 #
Proposal for a regulation
Article 2.º – paragraph 1 – point 15
Article 2.º – paragraph 1 – point 15
(15) ‘screening authority’ or ‘screening authorities’ means the national authority or authorities designated byof a Member State to screen foreign investments;
Amendment 124 #
Proposal for a regulation
Article 4.º – paragraph 2 – point i a (new)
Article 4.º – paragraph 2 – point i a (new)
(i a) The screening authorities must consult the relevant stakeholders, including trade unions, at all key stages when determining the impact, particularly the socio-economic consequences, of a foreign investment.
Amendment 149 #
Proposal for a regulation
Article 7.º – paragraph 5
Article 7.º – paragraph 5
5. Where a Member State where the foreign investment is planned or completed receives a comment from another Member State pursuant to paragraph 1 or an opinion from the Commission pursuant to paragraph 2 or 3, it shall give utmost consideration to such a comment or opinion.
Amendment 153 #
Proposal for a regulation
Article 7.º – paragraph 6
Article 7.º – paragraph 6
6. Following the receipt of a comment pursuant to paragraph 1, the Member State shall set up a meeting with the Member States who issued comments to discuss how to best address the risks identified. If the Member State where the foreign investment is planned or completed disagrees with the risks identified or, if applicable, the measure proposed with the comment, the Member States shall aim to identify alternative solutions. Where the comment concerns a multi-country transaction, the other Member States who notified the foreign investment shall also be invited to discuss whether the intended outcomes are compatible with one another and, where applicable, the intended conditions are able to address identified cross-border risks adequately. The Commission shallmay be invited to any such meetings.
Amendment 167 #
Proposal for a regulation
Article 7.º – paragraph 8 – point b – point i
Article 7.º – 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 171 #
Proposal for a regulation
Article 7.º – paragraph 8 – point b – point ii
Article 7.º – paragraph 8 – point b – point ii
(ii) the reason for its disagreement with the Member States’ comments or the Commission opinion.
Amendment 178 #
Proposal for a regulation
Article 7.º – paragraph 9
Article 7.º – paragraph 9
9. Where the Member States or the Commission indicate that the screening decision referred to in paragraph 8, subparagraph (a), of this Article does not give utmost consideration to their comments provided pursuant to pursuant to paragraph 1 or the opinion provided pursuant to paragraph 2 or 3, the Member State where the investment is planned or completed shallmay organise a meeting to explain the obstacles encountered or the reasons for disagreement and shall endeavour to identify solutions, should a similar situation arise in the future.find solutions deemed suitable Where the screening decision concerns a multi- country notification, the other Member States who notified the foreign investment to the cooperation mechanism shall also be invited. The Commission shallmay be invited to any meetings organised pursuant to this paragraph.
Amendment 194 #
Proposal for a regulation
Article 9.º – paragraph 3
Article 9.º – paragraph 3
Amendment 195 #
Proposal for a regulation
Article 9.º – paragraph 4
Article 9.º – paragraph 4
Amendment 198 #
Proposal for a regulation
Article 9.º – paragraph 5
Article 9.º – paragraph 5
5. The Member States or the Commission shall open the own initiative procedure set out in paragraph 1 and 3 respectively by sending a duly motivated request for information via the secure and encrypted system referred to in Article 12(4) to the Member State where the foreign investment is planned or has been completed. Any request for information pursuant to this paragraph shall be duly justified, limited to the information necessary for the Member States to provide comments or for the Commission to issue an opinion, proportionate to the purpose of the request and not unduly burdensome for the notifying Member State. Where the request for information is submitted by a Member State, that Member State shall send the request to the Commission simultaneously.
Amendment 203 #
Proposal for a regulation
Article 11.º – paragraph 4
Article 11.º – paragraph 4
4. Member States shall ensure that their screening mechanisms give sufficient time and means to assess and give utmost consideration to other Member States’ comments and Commission opinions before a screening decision is taken. This includes having all necessary legal means and powers to consider concerns expressed or likely impacts identified by another Member State or the Commission in its screening decision or in any other relevant instrument at its disposal. Where a foreign investment is notified to the Commission and other Member States pursuant to Article 5, the screening mechanisms shall not allow Member States to take their screening decision until the deadlines for comments by the Member States and Commission opinions set out in Article 8(3) expire.
Amendment 211 #
Proposal for a regulation
Article 13.º – paragraph 3 – point a
Article 13.º – paragraph 3 – point a
(a) the security, integrity and functioning of critical infrastructure, whether physical or virtual or for essential public services; in that context, based on the information available, it shall also be assessed whether the foreign investment is likely to negatively affect the resilience of any of the critical entities they have identified under Directive (EU) 2022/2557 of the European Parliament and of the Council20 as well as entities in scope of Directive (EU) 2022/2555 of the European Parliament and of the Council21. The results of the Union level coordinated security risk assessments of critical supply chains carried out in accordance with Article 22(1) of Directive (EU) 2022/2555 shall also be taken into account. ; _________________ 20 Directive (EU) 2022/2557 of the European Parliament and of the Council of 14 December 2022 on the resilience of critical entities and repealing Council Directive 2008/114/EC (OJ L 333, 27.12.2022, p. 164–198, ELI: http://data.europa.eu/eli/dir/2022/2557/oj). 21 Directive (EU) 2022/2555 of the European Parliament and of the Council of 14 December 2022 on measures for a high common level of cybersecurity across the Union, amending Regulation (EU) No 910/2014 and Directive (EU) 2018/1972, and repealing Directive (EU) 2016/1148 (OJ L 333, 27.12.2022, p. 80–152, ELI: http://data.europa.eu/eli/dir/2022/2555/oj).
Amendment 215 #
Proposal for a regulation
Article 13.º – paragraph 3 – point c a (new)
Article 13.º – paragraph 3 – point c a (new)
(cA) the social impact with regard to labour market disruption, job losses or deterioration of working conditions in the Member States in question on account of the foreign investment or another Member State as a result of the foreign investment;
Amendment 216 #
Proposal for a regulation
Article 13.º – paragraph 3 – point c b (new)
Article 13.º – paragraph 3 – point c b (new)
(cB) the environmental risks in the Member States in question owing to foreign investment or in another Member State owing to foreign investment;
Amendment 217 #
Proposal for a regulation
Article 13.º – paragraph 3 – point c c (new)
Article 13.º – paragraph 3 – point c c (new)
(cC) the safeguarding of the public interest in the production of goods and the provision of essential services;
Amendment 218 #
Proposal for a regulation
Article 13.º – paragraph 3 – point c d (new)
Article 13.º – paragraph 3 – point c d (new)
(cD) the safeguarding of public control in strategially important sectors, such as energy, telecommunications, baking and security, and in essential public services, such as healthcare, education and social security systems;
Amendment 219 #
Proposal for a regulation
Article 13.º – paragraph 3 – point c e (new)
Article 13.º – paragraph 3 – point c e (new)
(cE) consumer protection;
Amendment 229 #
Proposal for a regulation
Article 14.º – paragraph 1 – subparagraph 1 a (new)
Article 14.º – paragraph 1 – subparagraph 1 a (new)
Screening decisions for the validation of a foreign investment shall be the exclusive and sovereign competence of the Member State in question.
Amendment 236 #
Proposal for a regulation
Article 19.º
Article 19.º
Amendment 241 #
Proposal for a regulation
Article 20.º
Article 20.º