13 Amendments of Traian UNGUREANU related to 2011/0308(COD)
Amendment 23 #
Proposal for a directive
Recital 3
Recital 3
(3) The coordination of national provisions concerning the presentation and content of annual financial statements and management reports, the measurement bases, used therein and their publication in respect of certain undertakings with limited liability is of special importance for the protection of shareholders, members and third parties. Simultaneous coordination is necessary in those fields for such forms of undertaking because, on the one hand, some undertakings operate in more than one Member State and, on the other hand, they offer no safeguards tocould affect third parties beyond the amounts of their net assets.
Amendment 25 #
Proposal for a directive
Recital 32
Recital 32
(32) In order to provide for enhanced transparency of payments made to governments, large undertakings and public interest entities which are active in the extractive industry or logging of primary forests should disclose in a separate report on an annual basis material payments made to governments in the countries in which they operate. Such undertakings are active in countries rich in natural resources, in particular minerals, oil, natural gas as well as primary forests. The report should include types of payments comparable to those disclosed by an undertaking participating in the Extractive Industries Transparency Initiative (EITI). The initiative is also complementary to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade) and the Timber Regulation which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU market.
Amendment 28 #
Proposal for a directive
Recital 33
Recital 33
(33) The reports should serve to facilitate governments of resource-rich countries in implementing the EITI Principles and Criteria and account to their citizens for payments such governments receive from undertakings active in the extractive industry or loggers of primary forests operating within their jurisdiction. The report should incorporate disclosures on a country and project basis, where a project is considered as the lowest level of operational reporting unit at which the undertaking prepares regular internal management reports, such as a concession, geographical basin, etc and where payments have been attributed to such projects. In the light of the overall objective of promoting good governance in these countries, the materiality of payments to be reported should be assessed in relation to the recipient government. Various criteria on materiality could be envisaged such as payments of an absolutet should not be necessary to prepare a report if equivalent reporting requirements are observed. Payments should not need to be disclosed if the total amount paid to a government does not exceed EUR 1 000 000 or if the total amount, or a percentage threshold (such as payments in excess of a percentage of a country's GDP) and these can be defined through a delegated actf payments for a project does not exceed EUR 200 000. The reporting regime should be subject to a review and a report by the Commission within five years of the entry into force of the Directive. The review should consider the effectiveness of the regime and take into account international developments including issues of competitiveness and energy security. The review should also take into account the experience of preparers and users of the payments information and consider whether it would be appropriate to include additional payment information such as effective tax rates and recipient details, such as bank account information.
Amendment 29 #
Proposal for a directive
Recital 33 a (new)
Recital 33 a (new)
(33a)The reporting regime on payments to governments should be subject to a review and a report by the Commission within four years of the entry into force of this Directive. The review should consider the effectiveness of the regime and take into account international developments including issues of competitiveness and energy security.
Amendment 42 #
Proposal for a directive
Article 36 – paragraph 4
Article 36 – paragraph 4
4. "Project" is equivalent to a specific operational reporting unit at the lowest level within the undertaking at which regular internal management reports are prepared for the board of directors to monitor its business.
Amendment 44 #
Proposal for a directive
Article 37 – paragraph 1
Article 37 – paragraph 1
1. Member States shall require large undertakings and all public interest entities active in the extractive industry or the logging of primary forests to prepare and make public a report on payments made to governments, including payments in kind, made to governments in respect of the extractive industry and forestry activities defined in Article 36, on an annual basis.
Amendment 47 #
Proposal for a directive
Article 38 – paragraph 1 – point a
Article 38 – paragraph 1 – point a
(a) the total amount of payments, including payments in kind, made to each governmentamount per type and the total amount of payments made to each recipient federal, national, state, regional or local government, as defined in Article 36, within a financial year;
Amendment 49 #
Proposal for a directive
Article 38 – paragraph 1 – point b
Article 38 – paragraph 1 – point b
Amendment 51 #
Proposal for a directive
Article 38 – paragraph 1 – point c
Article 38 – paragraph 1 – point c
(c) where those payments have been attributed to a specific project the amount per type of payment, including payments in kind,and the total amount of payment made for each such project within a financial year, and the total amount of payments for each such project.
Amendment 65 #
Proposal for a directive
Article 38 – paragraph 2 – point g
Article 38 – paragraph 2 – point g
(g) other direct benefits to the government concernedpayments to governments which are part of the commonly recognised revenue stream for the commercial development of oil, natural gas, minerals or primary forests.
Amendment 67 #
Proposal for a directive
Article 38 – paragraph 4 a (new)
Article 38 – paragraph 4 a (new)
4a. Payments referred to in points (a) and (c) of paragraph 1 need not be disclosed if the total annual amount of payments to a government in a specific country does not exceed EUR 1 000 000. Payments referred to in point (c) of paragraph 1 need not be disclosed if the total amount of payments for a project does not exceed EUR 200 000.
Amendment 69 #
Proposal for a directive
Article 39 – paragraph 1
Article 39 – paragraph 1
1. A Member State shall require any large undertaking or any public interest entity active in the extractive industry or the logging of primary forests and governed by its national law to draw up a consolidated report on payments to governments by such undertaking or public-interest entity and/or by subsidiaries or entities controlled by such undertaking or public- interest entity in accordance with Articles 37 and 38 if that parent undertaking is under the obligation to prepare consolidated financial statements as laid down in Article 23 (1) to 23 (6) of this Directive.
Amendment 71 #
Proposal for a directive
Article 41
Article 41
The Commission shall review and report on the implementation and effectiveness of this Chapter, in particular as regards the scope of the reporting obligations and, the modalities of the reporting on a project basis. The review should also take into account international developments and consider the and the impact of national criminal legislation prohibiting disclosure of payments. The review should also take into account international developments and further legislative developments, especially in the United States of America, with the aim of building a holistic approach ensuring the correct effects on competitiveness and security of energy supply. It should be completed at the latest fiveour years after the date of entry into force of this Directive. The report shall be submitted to the European Parliament and the Council, together with a legislative proposal, if appropriate.