[ParlTrack]

Proposal for a regulation
Article 1 – paragraph 1 a (new)

1a. Definitions For the purposes of this Regulation, the following definitions apply: a)´EFSI Agreement´ means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI; b) ´national promotional banks or institutions´ means legal entities carrying out a financial activity on a professional basis and upon which are conferred a public mandate by a Member State, whether at central, regional or local level, to carry out public development or promotional activities on a non-commercial basis, seeking to address market failures; c) ´investment platforms´ means special purpose vehicles, managed accounts, contract-based co-financing or risk sharing arrangements or arrangements established by any other means by which investors channel a financial contribution in order to finance a number of investment projects and which may include national platforms that regroup several investment projects on the territory of a given Member State, multi- country or regional platforms that regroup partners from several Member States and/or third countries interested in large projects in a given geographic area, or thematic platforms, which could gather investment projects in a given sector; d) 'small and medium-sized enterprises (SMEs)' means micro, small and medium-sized enterprises as defined in Commission Recommendation 2003/361/EC; e) ´mid-cap companies´ means legal entities having up to 3000 employees and that are not SMEs.

2015/03/25
Committee: BUDG ECON

Othmar KARAS

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1

~~For as long as the only contributors to~~The only members with voting rights on the Steering Board of the EFSI are the Union and the EIB, the number their of members and votes within the Steering Board shall be allocated based on the respective size of contributions in the form of cash or guarantees. Other Member States or third parties are allowed to contribute to the EFSI in the form of cash or guarantees.

2015/03/25
Committee: BUDG ECON

Othmar KARAS

Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1 a (new)

The EFSI Agreement shall provide that the EFSI shall have an advisory board which shall be composed of representatives of national promotional banks, participating in projects at national or cross border levels covered by the EU guarantee in accordance with Article 4.

2015/03/25
Committee: BUDG ECON

Othmar KARAS

Proposal for a regulation
Article 3 – paragraph 4 a (new)

4a. On the basis of an open selection process conducted in line with EIB procedures, the Commission shall provide with the consent of the EIB to the European Parliament a shortlist of candidates for the appointment of the Managing Director and a shortlist of candidates for the appointment of the deputy Managing Director. The European Parliament shall select from these lists a candidate for each position within 3 weeks. The President of the EIB shall appoint the two candidates selected for a renewable fixed term of three years.

2015/03/25
Committee: BUDG ECON

Othmar KARAS

Proposal for a regulation
Article 4 – paragraph 1

The Union shall provide a ~~guarantee to the EIB~~n irrevocable and unconditional guarantee for financing or investment operations carried out within the Union, including cross-border cooperation between partners from Member States and/or third countries, covered by this Regulation ('EU guarantee'). The EU guarantee shall be granted as a guarantee on demand in respect of instruments referred to in Article 6.

2015/03/25
Committee: BUDG ECON

5 Amendments of Othmar KARAS related to 2015/0009(COD)

ParlTrack - 2011-2024