27 Amendments of Johan VAN OVERTVELDT related to 2024/0017(COD)
Amendment 35 #
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7 a) The emphasis of this Regulation should be on a proportionate approach to the mitigation of risks, whereby the outright blocking of investments should be seen as a last-resort measure.
Amendment 38 #
Proposal for a regulation
Recital 9
Recital 9
(9) To ensure a consistent approach to foreign investment screening across the Union, all Member States should be required to screen foreign investments on the grounds of security or public order. Therefore, the core elements of national screening mechanisms should be harmonised. That minimum harmonisation includes the scope of investments to be screened, the screening procedure’s essential features, and the interaction between the national mechanism and the Union cooperation mechanism. In addition, Member States should also be able to extend the scope of their national screening mechanism to include other types of foreign investments, foreign investments in other sectors, additional Union targets or economic activities that the relevant Member State considers critical for its security or public order. Member States should put in place a mechanism aimed at whenever possible consulting or alternatively informing the regional authorities concerned by the screening of a foreign investment. When they do so, such screening should also comply with the provisions of this Regulation.
Amendment 40 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9 a) Whereas, in accordance with the subsidiarity principle, security and public order remain national competences. An added value can be achieved between Member States by means of coordination, sharing of best practices and relevant information together with the Commission. Especially for investments taking place in multiple Member States, this should be done on a supranational level.
Amendment 51 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16 a) Whereas this Regulation has far- reaching consequences on European businesses, legal certainty for investments should always be a priority. Therefore, retroactively allowing Member States to screen investments as described in Article 9, should be kept to a minimum given their potential hampering of legal certainty for these investments.
Amendment 54 #
Proposal for a regulation
Recital 17
Recital 17
(17) Greenfield foreign investments occur where the foreign investor or a foreign investor’s subsidiary in the Union sets up new facilities or a new undertaking in the Union. Greenfield foreign investments should fall within the scope of this Regulation to the extent they are considered relevant by a Member State for the purpose of the screening of foreign investments because they create lasting and direct links between a foreign investor and such facilities or such undertakings. In addition, by setting up new facilities, a foreign investor can impact on security and public order, including when that risk concerns essential economic inputs. Member States are therefore encouraged to include greenfield foreign investments in the scope of transactions covered by their screening mechanisms, in particular when such investments occur in sectors relevant to their security or public order or when they present characteristics such as size or essential nature to be relevant to their security or public order. The inclusion of greenfield investments in their screening procedure remains the prerogative of the Member States.
Amendment 58 #
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 61 #
Proposal for a regulation
Recital 27
Recital 27
(27) For greater clarity, the list of projects or programmes of Union interest should be listed in Annex I. These should include any foreign investments undertaken on the trans-European networks for transport, energy and communication, as well as programmes providing funding for research and development for activities relevant for the security or public order of the Union. Due to the importance of these projects and programmes for the security and public order of the Union, Member States should screen foreign investments into Union undertakings that are part of or participating in these projects or programmes, including those that receive funding from the Union. Given the broad scope of many European projects, and to avoid excess administrative burden, Member States may consider imposing a threshold for the screening of EU- projects.
Amendment 74 #
Proposal for a regulation
Recital 41 a (new)
Recital 41 a (new)
(41 a) Foreign direct investment (FDI) screening procedures and the cooperation mechanism should not be used as a means to obtain confidential or business- and sector-sensitive information from companies for the benefit of third parties or to unnecessarily delay procedures.
Amendment 77 #
Proposal for a regulation
Recital 44 a (new)
Recital 44 a (new)
(44 a) Given the drastic impact this Regulation has on European businesses and governments, an impact assessment should accompany a legislative proposal for this Regulation.
Amendment 80 #
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. Given the broad scope of many European projects, and to avoid excess administrative burden, Member States may consider imposing a threshold for the screening of EU-projects. 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 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 81 #
Proposal for a regulation
Recital 51
Recital 51
(51) Regulation (EU) 2019/452 should be repealed. In order to allow sufficient time for Member States and entities to prepare for the implementation, this Regulation should apply as of [add date: 1524 months after entry into force]. In the transitional period between the entry into force and the application of this Regulation, Regulation (EU) 2019/452 should continue to apply,
Amendment 97 #
Proposal for a regulation
Article 3 – paragraph 3
Article 3 – paragraph 3
3. Each Member State shall notify to the Commission the measures adopted pursuant to paragraph 1 no later than [date: 1524 months after entry into force]. Member States shall thereafter notify the Commission of any amendment to their screening mechanism within 30 days of the adoption of the amendment.
Amendment 102 #
Proposal for a regulation
Article 4 – paragraph 2 – point b
Article 4 – paragraph 2 – point b
(b) the screening authority shall monitor and ensure compliance with the screening mechanism and screening decisions. In particular, it shall put in place adequate procedures to identify and prevent circumvention of the screening mechanism and screening decisions. Such a procedure may also include mechanisms aimed at consulting the regional authorities concerned by the foreign investment;
Amendment 110 #
Proposal for a regulation
Article 4 – paragraph 4 – point a a (new)
Article 4 – paragraph 4 – point a a (new)
(a a) Given the broad scope of many European projects, and to avoid excess administrative burden, Member States can consider imposing a threshold for the screening of EU-projects listed in Annex I.
Amendment 135 #
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
1 a. Prior to opening the own initiative procedure, the Member State shall clearly document the grounds of potential risks. These risks shall be limited to the proper functioning of public order and national security.
Amendment 137 #
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
Amendment 138 #
Proposal for a regulation
Article 9 – paragraph 4
Article 9 – paragraph 4
Amendment 141 #
Proposal for a regulation
Article 9 – paragraph 5
Article 9 – 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 142 #
Proposal for a regulation
Article 9 – paragraph 6
Article 9 – paragraph 6
6. The Member State where the investment is planned or completed shall provide the complete information requested by the other Member States or the Commission pursuant to paragraph 5 without undue delay via the secure and encrypted system referred to in Article 12(4). Where the notifying Member State provides additional information to a Member State, such additional information shall be sent to the Commission simultaneously.
Amendment 143 #
Proposal for a regulation
Article 9 – paragraph 7 – introductory part
Article 9 – paragraph 7 – introductory part
7. Following receipt of information referred to in paragraph 6, Member States may provide comments and the Commission may provide an opinion to the Member State where the foreign investment is planned or has been completed. The rules and procedures laid down in Article 7 and 8 shall apply mutatis mutandis, subject to the following modifications:
Amendment 144 #
Proposal for a regulation
Article 9 – paragraph 7 – point a
Article 9 – paragraph 7 – point a
(a) the comments by Member States or the opinion by the Commission shall be sent no later than 35 calendar days following receipt of the complete information requested pursuant to paragraph 5.
Amendment 146 #
Proposal for a regulation
Article 9 – paragraph 7 – point b
Article 9 – paragraph 7 – point b
Amendment 169 #
Proposal for a regulation
Article 16 – paragraph 1 – point f a (new)
Article 16 – paragraph 1 – point f a (new)
(f a) the extent to which the Member State has consulted regional authorities (with the respective legal competences) concerned by a screening decision;
Amendment 170 #
Proposal for a regulation
Article 18 – paragraph 1
Article 18 – paragraph 1
1. The Commission shall evaluate the functioning and effectiveness of this Regulation 5 years after the date of application of this Regulation and every 5 years thereafter and present a report to the European Parliament and to the Council. Member States shall be involved in this exercise and, if necessaryncluding on the extent to which Member States have involved regional entities with the respective legal competences in the screening, provide the Commission with additional information for the preparation of that report.
Amendment 179 #
Proposal for a regulation
Article 18 – paragraph 2
Article 18 – paragraph 2
2. Where the report from the Commission recommends amendments to this Regulation, it may be accompanied by a legislative proposal, supported by an impact assessment.
Amendment 186 #
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
Regulation (EU) 2019/452 is repealed with effect from [date: 1524 months after entry into force].
Amendment 189 #
Proposal for a regulation
Article 24 – paragraph 2
Article 24 – paragraph 2
It shall apply from [date: 1524 months after entry into force].