Procedure completed
Next event: Text adopted by Parliament, single reading 2013/05/21 more...
- Amendments tabled in committee 2013/01/31
- Vote in committee, 1st reading/single reading 2013/03/19
- Committee report tabled for plenary, single reading 2013/03/25
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Opinion | EMPL | STEINRUCK Jutta (S&D) | |
Lead | JURI | LEHNE Klaus-Heiner (EPP) | REGNER Evelyn (S&D), TAYLOR Rebecca (ALDE), SPERONI Francesco Enrico (EFD) |
Legal Basis RoP 048
Activites
- 2013/05/21 Text adopted by Parliament, single reading
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2013/03/25
Committee report tabled for plenary, single reading
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A7-0089/2013
summary
The Committee on Legal Affairs adopted an own-initiative report by Klaus-Heiner LEHNE (EPP, DE) on the application of Directive 2004/25/EC on takeover bids. It stresses that the effects of the Directive are not limited to the core provisions on takeover bids but need to be assessed in the wider context of company law, including corporate governance, capital market law and also employment law. They reiterate that the objectives of the Directive, in particular providing a level playing field for takeover bids while protecting the interests of shareholders, employees and other stakeholders, are crucial cornerstones for a well-functioning market for corporate control. Members notice with concern, however, the dissatisfaction of employees’ representatives, as expressed in the External Study, when it comes to the protection of employees’ rights, and call on the Commission to enhance the dialogue with the employee’s representatives on how pressing issues can be tackled in a better way. The report emphasises that the period of transposition of the Directive coincides with the beginning of the financial crisis, which eventually developed into an economic and debt crisis. It underlines that, according to the External Study, takeover activities have dramatically declined after the transposition date of the Directive as a result of the crisis, including in the UK, where activities in the market for corporate control are traditionally more concentrated than in the rest of the Union. As the market for corporate control has steadily been shrinking during this period of financial crisis, Members consider that the assessment on whether and to what extent further harmonisation measures should be introduced with regard to takeover bids would be distorted. Lastly, the Commission is asked therefore to continue to close-monitor the developments in the market for corporate control and prepare a new assessment on the application of the Directive when takeover activities return to a more regular volume.
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A7-0089/2013
summary
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2013/03/19
Vote in committee, 1st reading/single reading
- 2013/01/31 Amendments tabled in committee
- 2012/12/06 Committee draft report
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2012/10/25
Committee referral announced in Parliament, 1st reading/single reading
Documents
- Decision by Parliament, 1st reading/single reading: T7-0198/2013
- Committee draft report: PE501.966
- Amendments tabled in committee: PE504.238
- Committee report tabled for plenary, single reading: A7-0089/2013
Amendments | Dossier |
21 |
2012/2262(INI)
2013/01/09
EMPL
21 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Notes the
Amendment 10 #
Draft opinion Paragraph 8 a (new) 8 a. Points out that the consultation and participation rights of workers shall not be reduced at a takeover;
Amendment 11 #
Draft opinion Paragraph 9 Amendment 12 #
Draft opinion Paragraph 9 9. Calls for the full involvement of workers' representation of the company in all phases of the transition
Amendment 13 #
Draft opinion Paragraph 9 9. Calls for the full involvement of workers' representation
Amendment 14 #
Draft opinion Paragraph 10 Amendment 15 #
Draft opinion Paragraph 10 10.
Amendment 16 #
Draft opinion Paragraph 10 10. Points out the need to grant employees' representatives of the company access to expertise, the cost of which should be borne by management; stresses, in this regard, that it should be the sole prerogative of the employees' representatives to select the most appropriate experts;
Amendment 17 #
Draft opinion Paragraph 11 Amendment 18 #
Draft opinion Paragraph 11 a (new) 11 a. Calls for maintenance of the rights, obligations and working conditions of an existing employment contract and for prohibition of redundancy due to business operations during a takeover;
Amendment 19 #
Draft opinion Paragraph 12 12. Calls for an effective system of sanctions and controls to guard against violations of employees' rights;
Amendment 2 #
Draft opinion Paragraph 2 2. Points out that workers' rights must be upheld throughout the takeover process
Amendment 20 #
Draft opinion Paragraph 13 Amendment 21 #
Draft opinion Paragraph 13 Amendment 3 #
Draft opinion Paragraph 3 Amendment 4 #
Draft opinion Paragraph 3 3. Opposes further liberalisation of existing EU regulations regarding employee rights during takeovers;
Amendment 5 #
Draft opinion Paragraph 5 5. Stresses, in
Amendment 6 #
Draft opinion Paragraph 6 6. Reiterates the need to ensure that workers' representatives enjoy extensive rights of information and consultation during the take over process;
Amendment 7 #
Draft opinion Paragraph 7 7. Believes that
Amendment 8 #
Draft opinion Paragraph 7 7. Believes that both the
Amendment 9 #
Draft opinion Paragraph 8 8. Understands that
source: PE-502.222
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