[ParlTrack]

Proposal for a directive – amending act
Recital 7

(7) In order to increase the efficiency and flexibility of the issuance of debt in the Community, the limitation on the determination of the home Member State for issues of non-equity securities with a denomination below EUR 1.000 should be removed. The mechanism for the determination of the home and the host Member States in Directive 2004/109/EC should also be amended accordingly.deleted

2010/02/25
Committee: ECON

Jean-Paul GAUZÈS

Proposal for a directive – amending act
Recital 11

(11) In order to ~~improve the efficiency of cross border right issues and to~~ adequately take into account the size of issuers, notably credit institutions issuing the securities mentioned in Article 1(2)(j) of Directive 2003/71/EC at or above the limit laid down in that Article and companies with reduced market capitalization, a proportionate disclosure regime should be introduced for ~~rights issues and for~~ offers of shares of issuers with reduced market capitalization and offers of non- equity securities referred to in Article 1(2)(j) of Directive 2003/71/EC issued by credit institutions at or above the limit laid down in that Article.

2010/02/25
Committee: ECON

Jean-Paul GAUZÈS

Proposal for a directive – amending act
Recital 13

(13) As the prospectus can be updated by way of supplements according to Directive 2003/71/EC, there is no risk that it may become outdated. Therefore, given the time and costs of drafting and approving a prospectus, the validity period of 12 months of the prospectus, base prospectus and registration document should be extended to 24 months provided they are properly supplemented.deleted

2010/02/25
Committee: ECON

Jean-Paul GAUZÈS

Proposal for a directive – amending act
Article 1 – point 2 – point b

Directive 2003/71/EC
Article 2 – paragraph 1 – point m – point ii

b) In Point (m), point (ii) is replaced by the following: "(ii) for any issues of non-equity securities , the Member State where the issuer has its registered office, or where the securities were or are to be admitted to trading on a regulated market or where the securities are offered to the public, at the choice of the issuer, the offeror or the person asking for admission, as the case may be;"deleted

2010/02/25
Committee: ECON

Jean-Paul GAUZÈS

Proposal for a directive – amending act
Article 1 – point 9 – point a

Directive 2003/71/EC
Article 9 – paragraphs 1 and 2

(a) Paragraphs 1 and 2 are replaced by the following: "1. A prospectus shall be valid for 24 months after its publication for offers to the public or admissions to trading on a regulated market, provided that the prospectus is completed by any supplements required pursuant to Article 16. 2. In the case of an offering programme, the base prospectus, previously filed, shall be valid for a period of up to 24 months."deleted

2010/02/25
Committee: ECON

Jean-Paul GAUZÈS

Proposal for a directive – amending act
Article 1 – point 9 – point b

Directive 2003/71/EC
Article 9 – paragraph 4

(b) Paragraph 4 is replaced by the following: "4. A registration document, as referred to in Article 5(3), previously filed and approved, shall be valid for a period of up to 24 months provided that it has been supplemented in accordance with Article 16. The registration document, supplemented if necessary in accordance with Article 16, accompanied by the securities note and the summary note shall be considered to constitute a valid prospectus."deleted

2010/02/25
Committee: ECON

6 Amendments of Jean-Paul GAUZÈS related to 2009/0132(COD)

ParlTrack - 2011-2024