Activities of Donata GOTTARDI
Plenary speeches (21)
Equal treatment of persons irrespective of religion or belief, disability, age or sexual orientation (debate)
Statute for a European private company - Cross-borders transfers of companies' registered offices - Small Business Act - Workers' participation in companies with a European Statute (debate)
Sanctions against employers of illegally staying third-country nationals (debate)
Undertakings for collective investment in transferable securities (UCITS) (recast) (debate)
Public finances in the EMU – 2007-2008 (short presentation)
Future global architecture of financial markets and EU economic recovery plan (debate)
Application of the principle of equal pay for men and women (debate)
Social package (First part) (debate)
Lisbon Strategy - Broad Economic Policy Guidelines for 2008-2010 (debate)
Tax treatment of losses in cross-border situations (debate)
Common principles on flexicurity (debate)
Forest fires in Greece, their consequences and conclusions to be drawn for prevention and preparedness measures (debate)
Modernising labour law to meet the challenges of the 21st century (debate)
Public Finances in the EMU 2006 (debate)
Economic policy guidelines for 2007 – Member States’ employment policies (debate)
Establishing the European Globalisation adjustment Fund (debate)
Gambling and sports betting in the Internal Market (debate)
Public-private partnerships (debate)
Follow-up to the report on competition in professional services (debate)
Passenger car related taxes (debate)
Recent developments in and prospects for company law (debate)
Reports (1)
REPORT Report on public finances in EMU 2007 - 2008 PDF (184 KB) DOC (96 KB)
Opinions (5)
OPINION on the proposal for a Council directive on implementing the principle of equal treatment between persons irrespective of religion or belief, disability, age or sexual orientation
OPINION Social Economy
OPINION on the proposal for a Council regulation on the Statute for a European private company
OPINION Recommendations on the application of the principle of equal pay for men and women
OPINION Green Paper: Modernising labour law to meet the challenges of the 21st century
Written declarations (1)
Amendments (433)
Amendment 1 #
2008/2250(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Considers that the social economy is important, in view of what it symbolises and the results it achieves, as a means of enhancing industrial and economic democracy;
Amendment 2 #
2008/2250(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Stresses the importance of the social economy in relation to services of general interest, and highlights the added value created by setting up public-private integrated networks, but also the risk of their being exploited as a pretext for outsourcing with a view to reducing the costs borne by public authorities, including by having recourse to services provided by the voluntary sector;
Amendment 3 #
2008/2250(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Calls on the competent authorities and operators in the sector to assess and enhance the role of women in the social economy, both in quantitative terms, given the high rate of employment of women in all fields of the sector, including associations and voluntary work, and in terms of the quality and organisational aspects of work and service provision; is concerned about the persisting problem of vertical integration, even in the social economy, which limits the participation of women in decision-making;
Amendment 4 #
2008/2250(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Calls on government, national and local authorities and on operators in the sector to encourage and support the potential synergies which could be generated in the service sector by stakeholders in, and users of, the social economy by broadening the scope of participation, consultation and co- responsibility;
Amendment 5 #
2008/2250(INI)
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Urges the Member States to make provision for training projects involving higher education, university and vocational training courses designed to create awareness of the social economy and of business initiatives based on its values;
Amendment 7 #
2008/2250(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Considers that the removal of the proposals for a European Mutual Society Statute and a European Association Statute from the Commission's agenda has been a serious setback for the development of those forms of SE within the European Union and therefore urges the Commission to review its agenda;
Amendment 8 #
2008/2250(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Asks the Commission to establish a European think tank on co-operative banks and other financial services related SE organisations in order to conduct a study investigating how these specific SE entities have performed at EU level to date - in particular during the ongoing global credit and financial crises - and how they will avoid future risks in this respect;
Amendment 9 #
2008/2250(INI)
Draft opinion
Paragraph 4 c (new)
Paragraph 4 c (new)
Amendment 29 #
2008/2250(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Considers the social economy to be important, both symbolically and in terms of performance, for the purpose of strengthening industrial and economic democracy;
Amendment 41 #
2008/2250(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Considers that the Commission's withdrawal of its proposals for a European Mutual Society Statute and a European Association Statutes a serious setback for the development of these forms of social economy within the EU; therefore urges the Commission to review its work programme accordingly;
Amendment 60 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Points out that the social economy has a key role to play in attaining the Lisbon goals of sustainable growth and full employment, since it counteracts the numerous imbalances on the labour market, in particular by supporting female employment, and establishes and provides community care services (such as social, health, and welfare services), in addition to creating and maintaining the economic fabric of society, thus helping to promote local development and social cohesion;
Amendment 61 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11b. Believes that the EU should seek to establish a frame of reference for the social economy action programme, thereby enhancing its competitiveness and capacity for innovation at local level, bearing in mind – given that economies are first and foremost cyclical systems – that the social economy can provide stability by redistributing and reinvesting profits locally, where appropriate, fostering an entrepreneurial culture, gearing economic activities to local needs, supporting activities entailing a degree of risk (craft industries, for example), and generating social capital;
Amendment 62 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 c (new)
Paragraph 11 c (new)
11c. Points to the importance of the social economy as regards services of general interest; points to the added value provided by public-private integrated networks, as well as to the risk of exploitation, for instance in the form of outsourcing to help public authorities cut their costs, not least by making use of contributions in the form of voluntary work;
Amendment 63 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 d (new)
Paragraph 11 d (new)
11d. Calls on the Commission to incorporate the social economy into its other policies and strategies in the sphere of social, economic, and enterprise development, especially in connection with the ‘Small Business Act’, bearing in mind that social economy entities carrying on socio-economic activities might prove particularly useful for SMEs and services of general interest; urges the Commission, in addition, to look again at the possibility of reactivating a social economy unit;
Amendment 64 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 e (new)
Paragraph 11 e (new)
Amendment 65 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 f (new)
Paragraph 11 f (new)
11f. Calls on national and local government authorities, and operators on the ground, to promote and support the forms of synergy in the services field that could be achieved between social economy actors and users by broadening the scope of participation, consultation, and empowerment;
Amendment 66 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 g (new)
Paragraph 11 g (new)
11g. Calls on the Member States to organise training projects, at higher education and university level and in vocational education, with a view to imparting knowledge of the social economy and of the forms of enterprise based on its values;
Amendment 67 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 h (new)
Paragraph 11 h (new)
11h. Believes that the EU and the Member States should recognise the social economy and its component entities (cooperatives, mutual societies, associations, and foundations) in their legislation and policies and provide for measures, for example easy access to credit, incentives, and tax relief, aimed at supporting social economy organisations operating in market and non-market sectors, having been set up for socially useful purposes;
Amendment 68 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 i (new)
Paragraph 11 i (new)
11i. Calls on the Commission to establish an EU think-tank on co-operative banks and other financial services that might be of interest to social economy organisations which would study how these specific social economy entities have performed so far in the EU - especially during the current global credit and financial crises - and how they will avert future risks of this kind;
Amendment 69 #
2008/2250(INI)
Motion for a resolution
Paragraph 11 j (new)
Paragraph 11 j (new)
11j. Calls on the Commission to allow for social economy entities when revising State aid policy, bearing in mind that small businesses and organisations active at local level find it very difficult to obtain credit, especially in the current economic and financial crisis; also calls on the Commission to refrain from obstructing national company and tax laws such as those aimed at banking and retailing and distribution cooperatives, which operate according to the principles of mutualism, company democracy, assets handed down from one generation to the next, indivisible reserves, the work ethic, and business ethics;
Amendment 1 #
2008/2244(INI)
Motion for a resolution
Citation 13 a (new)
Citation 13 a (new)
– having regard to the conclusions of the Ecofin Council meeting of 4 November 2008 concerning the economic situation, implementation of responses to the financial crisis and preparations for the international summit on the crisis,
Amendment 2 #
2008/2244(INI)
Motion for a resolution
Citation 13 b (new)
Citation 13 b (new)
– having regard to the Commission communication of 29 October 2008 entitled ‘From financial crisis to recovery: A European framework for action’ (COM(2008)0706),
Amendment 3 #
2008/2244(INI)
Motion for a resolution
Citation 13 c (new)
Citation 13 c (new)
– having regard to the conclusions of the Brussels European Council of 15-16 October 2008 concerning strengthening of the regulation and supervision of the financial markets,
Amendment 4 #
2008/2244(INI)
Motion for a resolution
Citation 13 d (new)
Citation 13 d (new)
– having regard to the meeting of the Heads of State and Government of the Eurogroup, held on 12 October 2008, with a view to adopting a coordinated rescue plan to combat the economic crisis,
Amendment 5 #
2008/2244(INI)
Motion for a resolution
Citation 13 e (new)
Citation 13 e (new)
– having regard to the conclusions of the Ecofin Council meeting of 7 October 2008 concerning immediate responses to the financial turmoil, and to the European Parliament resolution of 22 October 2008 on the European Council meeting of 15-16 October 2008,
Amendment 6 #
2008/2244(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas quality public finances targeting sustainable development signal our commitment to future generations, which is all the more important in the current situation of major upheaval on the markets,
Amendment 8 #
2008/2244(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the aim of public finances should be to support the macro-economic framework, provide public services and goods and counterbalance market failures and external impacts,
Amendment 9 #
2008/2244(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas a conceptual and operational framework for QPF targeting growth, and making growth the ultimate reference point for the assessment of QPF, are inextricably linked with the consideration that Member States’ budgetary and public expenditure policies must be oriented towards the maintenance and innovation of the welfare state, social security protection and the redistribution of resources,
Amendment 10 #
2008/2244(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
Amendment 11 #
2008/2244(INI)
Motion for a resolution
Recital A e (new)
Recital A e (new)
Ae. whereas it is necessary and appropriate to approach the analysis and assessment of public finances, and the prospects for their sustainability, from a gender perspective,
Amendment 12 #
2008/2244(INI)
Motion for a resolution
Subheading (new) - (after recitals)
Subheading (new) - (after recitals)
Change in economic trend in 2007/2008, economic and financial crisis and outlook
Amendment 13 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Notes that analysis of the public finance situation in 2007 and the first part of 2008 clearly shows a change in the economic trend and the looming prospect of a slowdown in the economy and in growth, coupled with a continued high rate of inflation and increasing income disparities;
Amendment 14 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 a (new)
Paragraph -1 a (new)
-1a. Expresses its concern at the difficult economic and financial situation currently affecting Europe and the world, which is creating an unprecedented level of instability, and notes the new dynamics that are developing in the state-market relationship and changes in monetary and economic policy where, in the face of market failures and a lack of rules and supervision, public sector intervention is reassuming a pivotal role, sometimes taking the form of outright nationalisations;
Amendment 15 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 b (new)
Paragraph -1 b (new)
-1b. Points out that the crisis in strategic sectors, and especially in the fields of finance and transport, is spurring public investment in takeovers, without care being taken to limit those rescue operations to what is strictly necessary for sustaining and developing the European economy and to ensure they do not respond to purely national interests;
Amendment 16 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 c (new)
Paragraph -1 c (new)
-1c. Considers that the Commission and the Member States must provide for an appropriate assessment of the repercussions for public finances of public sector support and participation in major industries and the financial and credit sector; would also consider it useful for those repercussions to be assessed in relation to competition, the workings of the internal market and maintaining a level playing field;
Amendment 17 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 d (new)
Paragraph -1 d (new)
-1d. Emphasises that the revised Stability Pact already allows for action to be taken in response to particularly serious situations and that financial consolidation and the objectives set in the stability and convergence plans remain fundamental to the prospects for recovery and growth;
Amendment 18 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 e (new)
Paragraph -1 e (new)
-1e. Points to the importance of a coordinated approach at European level to combat tax evasion and tax havens – in the interests of the public, the taxpayer and public accounts – especially at a time when financial consolidation and levels of public debt are liable to be adversely affected by the considerable public investments being made in support of major financial and industrial players;
Amendment 19 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 f (new)
Paragraph -1 f (new)
Amendment 20 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 g (new)
Paragraph -1 g (new)
-1g. Takes the view that the wholesale public sector intervention implemented by the various Member States to rescue and support the banking and finance industry will have clear repercussions for public finances and personal incomes; considers it necessary, therefore, for the tax burden to be suitably and equitably spread among all taxpayers, thus entailing, on the one hand, imposing an appropriate level of taxation on all financial players and, on the other hand, providing for a gradual and sharp reduction in the tax burden on mid- to low-level salaries and pensions – with tax deductions, revisions of tax rates and compensation for fiscal drag - in such a way as to reduce poverty, and not just extreme poverty, and to promote consumption and a growth in demand, thereby responding counter-cyclically to the current economic crisis which presages a recession;
Amendment 21 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 h (new)
Paragraph -1 h (new)
-1h. Stresses that European macro-economic policies must provide a swift and coordinated response to the risks of recession and financial instability, and urges the Commission and the Member States – and particularly those of the euro area - to make intelligent and unidirectional use of the flexibility in the Stability Pact and suitable counter-cyclical mechanisms aimed at structural change, efficient allocation of public funds, restructuring of public expenditure and investments for growth in line with the Lisbon objectives, devoting special attention to the role of SMEs;
Amendment 22 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 i (new)
Paragraph -1 i (new)
-1i. Emphasises, in that context, the need for a common approach – particularly in the euro area – on wage policies, that provides for wage increases in line with actual inflation and productivity, since fiscal and wage policies are powerful and effective levers on demand and for economic stability and growth;
Amendment 23 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 j (new)
Paragraph -1 j (new)
-1j. Welcomes the fact that decision-making areas are beginning to emerge in which the Euro Group – in the form not simply of the Ministers for Finance, but also of the Heads of State and Government of the euro area – acts as the (prime) political and economic coordination body to pinpoint swift responses and jointly-agreed strategies not just in response to the economic and financial crisis, but also to revitalise macroeconomic and joint investment strategies aimed at enhancing prospects for growth, averting serious repercussions on public finances and financial stability in the European Union and helping to achieve a better balance between economic and monetary policies within the European Union;
Amendment 24 #
2008/2244(INI)
Motion for a resolution
Paragraph -1 k (new)
Paragraph -1 k (new)
-1k. Considers that it would be useful to establish a compulsory mechanism for consultation and coordination between the Commission and the Member States – and particularly those of the Euro Group – prior to the adoption of major economic measures, especially in the case of measures addressing the volatility of prices for energy, raw materials and foodstuffs;
Amendment 31 #
2008/2244(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Shares the Commission’s views on the importance of the preventive arm of the SGP, on support and reminders for the Member States and on the exchange of best practices; agrees, in particular, that this arm should be based on a medium-term approach to budgetary policies and on coordination at a European level, given that effective action requires joint understanding of the economic and budgetary policy challenges in the European Union and a strong political commitment to addressing these through counter-cyclical interventions that pull in the same direction;
Amendment 35 #
2008/2244(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses the importance of the medium- term objective (MTO) as a specific target ofbudgetary target hitched to economic, fiscal, budgetary and incomes policies, which should be achieved through macro-economic dialogue, geared to the specific situation in each Member State and determined on a multiannual basis; urges the Member States to strengthen the credibility and legitimacy of the medium-term objective at both national level, through closer involvement of government departments, national parliaments and the social partners (national ownership) and at local level (sub-national public finance) by establishing regional SGPs and MTOs, taking account of the impact which local public expenditure and investment have on national public finances and on the growth prospects of the various countries;
Amendment 37 #
2008/2244(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Considers consistency between multiannual budgetary programmes and the establishing and implementation of annual budgets to be of fundamental importance; calls on the Member States for greater rigour when establishing macro-economic forecasts and closer coordination when establishing the criteria, timescales and objectives for multiannual expenditure frameworks, in order to ensure the increased efficiency and better performance of budgetary and macro-economic policies at European level;
Amendment 44 #
2008/2244(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Considers that it would be useful to establish a compulsory mechanism for consultation of the national parliaments, alongside the European Parliament, with an eye to the coordinated development of stability and convergence programmes under the Stability Pact, and of national reform programmes under the integrated Lisbon guidelines, in such a way that these are linked and presented together, possibly in the autumn of each year;
Amendment 45 #
2008/2244(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Considers that the financial markets and services covered by Lisbon Strategy policies should be anchored to financial stability and to supervision mechanisms providing a guarantee of protection against negative repercussions for growth and public finances; expresses its concern at indications that derivatives and new financial instruments are being used, especially by local administrations, that could bring local areas to their knees;
Amendment 46 #
2008/2244(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Considers it necessary to adopt a new approach to public finances which is systematic and coordinated among the Member States, and in particular those of the euro area, and which aims to support long-term economic growth (and potential for growth) and is centred on a multi-dimensional framework for defining and measuring the quality of public finances that makes the European economy resilient to external shocks and enables it to respond to demographic challenges and international competition and to ensure social equity and cohesion;
Amendment 48 #
2008/2244(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Urges the Member States to adopt QPF policies together with a system for assessing budgetary policies – such as performance-based budgeting (PBB) (based on the OECD model) – aimed at improving the quality of public spending by strengthening the link between the allocation of resources and results; notes that gender budgeting is a good example of PBB, a method proposed and promoted by the European Parliament itself and applied to varying degrees at local and central level in the various Member States and which should be implemented more consistently, including at European level; calls on the Commission to establish PBB methods, guidelines and indicators making it possible to compare and harmonise the financial and macro-economic policies of the Member States, and acknowledges that this calls for greater involvement and therefore a greater sense of responsibility on the part of informed citizens;
Amendment 5 #
2008/2237(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Welcomes the direct link made with current European-level legislative reform – private European company, review of state aid, reduced VAT rate, etc. – and with those requested by the European Parliament, such as that on micro-credit;
Amendment 6 #
2008/2237(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Notes approvingly the reversal in trend concerning encouragement to increase the scale of companies – as quite an important aspect, when accompanied by the right conditions, for the growth and development of the company and of employment – which cannot be subordinated to the expediency of keeping within any thresholds set in labour legislation in the Member States;
Amendment 7 #
2008/2237(INI)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Points out that, in many Member States, labour legislation is diversified in scope, with multiple thresholds (even within the same country, owing to different regulatory institutions) and uncertainties as regards calculations, given the tendency to exclude atypical workers, which does not make it any easier to overcome the proliferation and fragmentation of employment relationships, as indicated in the European Parliament resolution of 29 November 2007 on common principles of flexicurity;
Amendment 8 #
2008/2237(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Sees a need for further development of the Small Business Act in the area of labour law, especially in view of the flexicurity principle, which enables SMEs in particular to respond more quickly to changes in the market and therefore to guarantee a higher level of employment and the competitiveness of the company, as well as international competitiveness, while taking into account the necessary social protection; in this connection refers to its resolution of 29 November 2007 on flexicurity; stresses that one of the main pillars of flexicurity is a simple and predictable labour law, which is of crucial importance to SMEs in particular, because these businesses often cannot afford to have a legal department;
Amendment 13 #
2008/2237(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Calls on the Member States to devote special attention to SMEs in respect of the specific approaches they adopt to flexicurity, since, on the one hand, SMEs enjoy leeway for greater flexibility, enabling them to respond quickly to changes on the market, but, on the other hand, need greater security for themselves and their workers; calls on Member States, therefore, to strengthen and amplify the second set of policy measures – for example by doing more than simply providing a second chance to honest entrepreneurs who have faced bankruptcy – and to launch active labour policies to take the strain of crisis situations and occupational problems in SMEs;
Amendment 15 #
2008/2237(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Is concerned about the contslowness in attainuing lack of qualified workforce, a situation which will worsen further in the futurethe Lisbon Strategy objectives with reference to the quality and enhancement of social capital and to training; points out that SMEs are in competition with larger businesses for qualified workers and that they should be supported particularly with targeted staff development and training; welcomes in this connection the measures the Commission has taken for cross-border experience exchanges for young business people, journeymen and apprentices (Erasmus);
Amendment 19 #
2008/2237(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the Member States to give a higher status Welcomes the invitation to the Member States, in the first set of proposed policy measures, to devote attention, during school education toing and professional training, to self-employment and entrepreneurship; asks the Commission to accompany the Member States in their efforts through '‘best practice'’ procedures for innovative training and linking-up with higher levels of education and research;
Amendment 24 #
2008/2237(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
Amendment 25 #
2008/2237(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Stresses that access to information technologies, networks and fibre optics are a condition for sustainable growth, as is indicated in the Lisbon Strategy;
Amendment 28 #
2008/2237(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses the importance of encouraging female entrepreneurs through, amongst other things, the introduction of tutoring and mentoring programmes; points out that an increasing number of women work in SMEs, albeit primarily still in the smallest businesses (micro-businesses), and remain prey to stereotypes and prejudices when it comes to business transfers and successions, especially in the case of family businesses;
Amendment 31 #
2008/2237(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Points to the need for the issue of reconciling the working life and family life of female and male entrepreneurs to be addressed through operational policies and instruments, with reference to maternity, paternity, parental and family leave and leave for training and participation in associational life, providing for integrated forms of support and replacement services;
Amendment 33 #
2008/2237(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Reiterates the importance of ensuring access to credit, including – though not solely – in the form of micro-credit, especially in the current period of crisis and turmoil on the financial market; points to the need to introduce guarantee funds and ‘honour loans’ for developing innovative projects geared towards sustainable development under a social and environmental banner;
Amendment 37 #
2008/2237(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Points out that direct commitments from the Commission should be incorporated into the fourth set of proposed policy measures, not least in the ways to improve the possibility of accessing information, both on the relevant regulations and on planning and financing possibilities, including through the network of offices already in operation, such as Europe Direct offices;
Amendment 38 #
2008/2237(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. reiterates the importance awarded to the CSR of small-scale businesses, which necessitates horizontal links, networks and services; considers it ineffective to refer to EMAS certification, both because this will detract from existing certificates, and because it links in solely with the environmental challenge;
Amendment 8 #
2008/2118(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the quantitative and qualitative objectives of the Lisbon Strategy and the new Integrated Guidelines for Growth and Jobs – especially where female and adult employment is concerned – are dictated by the realisation that, from the point of view of sustainability, it is intolerable to let the resources in question and their potential go to waste and that the stability of pension and welfare systems is in jeopardy,
Amendment 11 #
2008/2118(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the figures quoted in the Commission communication show that countries and regions with a high female employment rate that have social protection systems also have a higher birth rate,
Amendment 13 #
2008/2118(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas caring, for centuries the preserve of women, is all too frequently still not considered ‘proper’ work; whereas its status remains unclear, and a universally recognised definition has yet to be produced,
Amendment 15 #
2008/2118(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
Ad. whereas the three main challenges facing the EU – demographic changes, globalisation, and climate change – demand inter-generational solidarity based on a wide-ranging pact not just between generations, but between the sexes and peoples, who must look to the future with renewed confidence,
Amendment 16 #
2008/2118(INI)
Motion for a resolution
Recital A e (new)
Recital A e (new)
Ae. whereas such a pact is intrinsically of a collective nature, applies on a large scale, and is based on individual freedom of choice, especially for women, who must be entitled to have as many children as they want while pursuing such activities as they might wish to engage in at different stages in their lives, and also allowed to change their minds without being subjected to discrimination, since all these things form part and parcel of the rights attaching to citizenship,
Amendment 17 #
2008/2118(INI)
Motion for a resolution
Recital A f (new)
Recital A f (new)
Af. whereas the pact between the sexes, generations, and peoples must be built on the possibility for individuals to organise their working and private lives and reconcile the economic imperatives of production entailed in gainful employment with the possibility of choosing what tasks to devote themselves to and when, within a context of rights and responsibilities laid down by legislation and agreement,
Amendment 18 #
2008/2118(INI)
Motion for a resolution
Recital A g (new)
Recital A g (new)
Ag. whereas inter-generational responsibility requires public authorities to adopt a proactive approach, and all social stakeholders to play a leading role, in order to guarantee high standards in services of general interest and provide for the necessary welfare and social security systems on a sufficient scale,
Amendment 19 #
2008/2118(INI)
Motion for a resolution
Recital A h (new)
Recital A h (new)
Ah. whereas the presence of women on the labour market is linked to cultural changes and reforms designed to give effect to policies making for a work-life balance and a redistribution of roles; whereas such policies cover a variety of fundamentally interconnected areas ranging from temporarily shorter working hours, to be achieved by converting employment contracts into part-time working contracts, and leave arrangements (maternity, paternity, parental, and family leave) to the network of personal care services,
Amendment 20 #
2008/2118(INI)
Motion for a resolution
Recital A i (new)
Recital A i (new)
Ai. whereas personal care services – aimed at children, older people, those who cannot look after themselves, and the sick – can be either collective (public, private, or a mixture of the two) or individual (home helps, babysitters, caregivers, etc),
Amendment 21 #
2008/2118(INI)
Motion for a resolution
Recital A j (new)
Recital A j (new)
Aj. whereas demographic changes are having a significant impact on people’s personal and working lives; whereas inadequate services, low wage levels, delay in entering the labour market, lengthy successions of fixed-term contracts, and insufficient incentives for young couples are among the reasons why young people choose not to start a family and have children until later; whereas rigid working patterns and the difficulty of returning to the labour market after spending time as a carer make it difficult to enter freely into decisions, whether they are intended to achieve a work-life balance or involve alternation of work and family life,
Amendment 28 #
2008/2118(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas attention should begin to focus on the concept of care-related discrimination, linked to the fact of taking up maternity, paternity, parental, and family leave, the object being to determine whether discrimination in such instances constitutes forms of discrimination based on gender; whereas it is necessary to agree upon a Europe-wide definition of the concept of multiple discrimination,
Amendment 31 #
2008/2118(INI)
Motion for a resolution
Recital E
Recital E
E. whereas there is a ‘sandwich generation’ of 40 to 60 year oldsmiddle-aged women in the European population who often combine the role of parents with that of childrenmothers acting as daughters and hence responsible for elderly and dependent family whilst being actively involved imembers with that of wage- and salary-earners on the labour market,
Amendment 36 #
2008/2118(INI)
Motion for a resolution
Recital F
Recital F
F. whereas the work of Gary Becker, the winner of the 1992 Nobel Prize in Economics,economists and demographers uses economic and mathematical models to highlight the economic value of household production – carried out mainly by women, – particularly in terms of housework, educating children, looking after dependants regardless of their age or state of dependency, or running inter- generational solidarity networks,
Amendment 37 #
2008/2118(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas long-running research by economists and demographers suggests that women’s contribution to GDP would be even higher if their unpaid work were factored in,
Amendment 66 #
2008/2118(INI)
Motion for a resolution
Recital M
Recital M
M. whereas the educational role played by women/mothers or men/fathers towards future generations and elderly and dependent personrole of women and men as caregivers is essential for the advancement of the common good and should be recognised as such by cross- cutting policies, including policies for women and men who make a free choice to devote all or part of their time to this activity,
Amendment 67 #
2008/2118(INI)
Motion for a resolution
Recital O
Recital O
O. whereas these early retirement policies implemented in many Member States have produced a new category of persons, ‘young retirees’, who, despite their position on the margin of the formal labour market, very often have the wisdom, skills and knowledge required for the advancement of society, and theseir involvement should therefore be maximised for the benefit of the common goosecured through specific policies aimed at this target group,
Amendment 69 #
2008/2118(INI)
Motion for a resolution
Recital O a (new)
Recital O a (new)
Oa. whereas motherhood and the fact that working people take up their leave entitlements are, regrettably, still a recurring and widespread source of unacceptable discrimination,
Amendment 72 #
2008/2118(INI)
Motion for a resolution
Recital O b (new)
Recital O b (new)
Ob. whereas since October 2003 the Commission has been holding consultations with the two sides of industry on the subject of the work-life balance; whereas those consultations, which have entered a second phase, are predicated on the importance of finding policies and means enabling ‘good jobs’ to be married with women’s and men’s responsibilities as caregivers,
Amendment 73 #
2008/2118(INI)
Motion for a resolution
Recital O c (new)
Recital O c (new)
Oc. whereas the policies and means is seeking to promote a work-life balance – from part-time working to leave and services – are almost invariably perceived to be aimed exclusively at women, rather than as ways of encouraging fair sharing of responsibilities,
Amendment 76 #
2008/2118(INI)
Motion for a resolution
Recital O d (new)
Recital O d (new)
Od. whereas the Commission has produced proposals aimed at improving maternity leave and protecting self- employed mothers,
Amendment 82 #
2008/2118(INI)
Motion for a resolution
Recital Q
Recital Q
Q. whereas the principles of flexicurity as applicable to women were set out in Parliament's resolution of November 2007, and whereas working time arrangements in most parts of Europe do not seem to provide much support for people with children and employees with children seem to be less likely to work in jobs with flexible working arrangements than those without,
Amendment 86 #
2008/2118(INI)
Motion for a resolution
Recital T
Recital T
T. whereas there is a risk of being ‘'forced’' to work part -time, particularly for women/mothers, this choice often being imposed upon them due to the lack of viable childcare structures, and there is also a risk that the switch from full time to part time might not be allowed, making it difficult, not to say impossible, to achieve a work-life balance,
Amendment 89 #
2008/2118(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Calls on the national statistical institutes in the Member States to develop measurassess tohe possibility of includeing in their SNA the value, broken down by gender, of invisible work in the field of inter-generational solidarity and its contribution to national GDP;
Amendment 90 #
2008/2118(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1. Welcomes the Commission communication and its conclusions aimed at improving the quality of life for all in a context more conducive to the free realisation of family plans, laying emphasis on equality between men and women within the broader Lisbon goals;
Amendment 91 #
2008/2118(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
Amendment 92 #
2008/2118(INI)
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Points to the need to find appropriate medium- and long-term solutions to avert the risk that young people and women will be denied a proper pension and hence exposed to a greater risk of poverty;
Amendment 93 #
2008/2118(INI)
Motion for a resolution
Paragraph 1 d (new)
Paragraph 1 d (new)
1d. Notes that the number of households in the various EU countries is gradually rising, but their size is being reduced (one-parent families), that more and more children are living in blended families, and that the adoption of non-European children is increasing and immigration is bringing a variety of new family cultures;
Amendment 94 #
2008/2118(INI)
Motion for a resolution
Paragraph 1 e (new)
Paragraph 1 e (new)
1e. Calls for careful analysis to be brought to bear on the studies which suggest that the employment contract should be replaced by an activity contract so as to allow for mobility, alternation, life cycles, and career breaks, as regards both employment and work in a self-employed capacity, accounted for by training or caring;
Amendment 95 #
2008/2118(INI)
Motion for a resolution
Paragraph 1 f (new)
Paragraph 1 f (new)
1f. Calls for research facilities and institutes to invest more resources to better effect in the ecological improvement of products aimed at children or those who cannot look after themselves, or intended for household use in general;
Amendment 96 #
2008/2118(INI)
Motion for a resolution
Paragraph 1 g (new)
Paragraph 1 g (new)
1g. Calls for ways to be found to prevent female employment on the labour market being adversely affected by measures to support, enhance the status of, and put a price on, caring, paying particular attention to the situation in countries where informal work, the underground economy, and undeclared employment already exist on a large scale; calls, therefore, for assessment in order to determine how society and female employment might be affected by measures serving to confer recognition on caring, not least by means of symbolic calculation for pension purposes;
Amendment 98 #
2008/2118(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls onUrges Eurostat to assess the possibility of developing measures to highlight the value of invisible work in the field of inter- generational solidarity and its contribution to the Union’s GDP and, for this purpose, to work closely with the World Bank, the Organisation for Economic Cooperation and Development (OECD) and the International Labour Office (ILO);
Amendment 99 #
2008/2118(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls on the Commission to present specific initiatives to validate the skills acquired in carrying out educational tasks, caring for dependent persons and household management so that these skills are taken into consideration upon re-entry into the labour market; points out that soft skill assessment is central to skill assessment according to the best traditions of national experimentation with systems to make demand for labour intersect with the labour supply;
Amendment 115 #
2008/2118(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls on the public authorities to take the necessary steps to enable women/rking mothers and men/fathers to make better chobe assisted under policies as to how they wish to reconcile work and family lifeimed at promoting a work-life balance and to have access to the means serving to achieve that end;
Amendment 124 #
2008/2118(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Believes that steps need to be taken to improve the treatment not just of maternity leave, but also of paternity and parental leave, with particular reference to the leave taken by working fathers, bearing in mind that in all of the Member States only a small percentage of men make use of their leave entitlements;
Amendment 128 #
2008/2118(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Welcomes the proposal to include an article on the work-life balance in the directive on the organisation of working time and points to the need to allow for such a provision when laying down the working week and on-call time arrangements;
Amendment 132 #
2008/2118(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Believes that inter-generational solidarity should be promoted by means of judicious fiscal policies (in the form of transfers, deductions, and rebates), measures to promote active ageing, skills development policies, and integrated service networks for children, older people, people with disabilities, and those who cannot look after themselves, assessing how they facilitate or adversely affect personal choices and the work-life balance;
Amendment 1 #
2008/2085(INI)
Motion for a resolution
Title
Title
on Challenges to collective agreements and industrial relations in the EU
Amendment 11 #
2008/2085(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. Whereas according to Article 136 EC, the Community and the Member States shall have as their objectives (...) “improved living and working conditions, so as to make possible their harmonisation while the improvement is being maintained”; and whereas with a view to achieving this objective, Article 140 of the EC Treaty provides that the Commission is to promote close cooperation between Member States in the social field, particularly in matters relating to the right of association and collective bargaining between employers and workers,
Amendment 22 #
2008/2085(INI)
Motion for a resolution
Recital F
Recital F
F. Whereas Aarticle 3(8).8 of the PWD gives the possibility to implement the directive either through legislation, generally applicable collective arrangements or through other collective agreements which are considered the most representative; the ECJ also affirms that other methods, e.g. the autonomous collective bargaining model, may be used, or through collective agreements that have been declared universally applicable, or that are generally applicable to all similar undertakings in the industry concerned or that have been concluded by the most representative employers’ and labour organisations at national level and which are applied throughout the national territory; the ECJ also affirms that since the purpose of Directive 96/71 is not to harmonize systems for establishing terms and conditions of employment in the Member States, they are free to choose a system at the national level which is not expressly mentioned among those provided for in the PWD; however, the ECJ at the same time has limited this freedom by adding the condition that this is only so ‘provided that it does not hinder the provision of services between Member States’, thereby questioning the subsidiarity principle,
Amendment 34 #
2008/2085(INI)
Motion for a resolution
Recital K
Recital K
K. Whereas the ECJ in the Albany judgement (C- 67/96) in the field of competition law gave substantial and large space for trade unions to regulate labour market issues; in fact, at that time the ECJ rejected the direct horizontal effect forsocial partners to adopt measures to improve conditions of work and employment; in fact, having regard to the social objectives of the EU, the ECJ rejected the application of competition rules on collective bargainingagreements,
Amendment 39 #
2008/2085(INI)
Motion for a resolution
Recital L
Recital L
L. Whereas the ECJ in both the Laval and Rüffert cases made a completely different interpretation of European legislation than the advocate general, showing that different interpretations of the PWD are possible,
Amendment 55 #
2008/2085(INI)
Motion for a resolution
Recital N
Recital N
Amendment 63 #
2008/2085(INI)
Motion for a resolution
Recital O
Recital O
O. Whereas the ECJ in the Viking case introduces a horizontal direct effect of Articles 43 and 49 which can be used by employers and service providers to challenge collective agreements and industrial actions with a cross-border effect; the autonomy for collective bargaining from competition rules is thereby not extended to the field of free movement with a risk that industrial relations in the Member States will be put under legal scrutiny; trade unions are consequently being treated as emanations of the state, which they are clearly not; this also means that trade unions – different from the state – cannot use public policy justifications; consequently, this new uncertainty in industrial relations could result in a “flood” of cases to the ECJ,
Amendment 74 #
2008/2085(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Underlines that the freedom to provide services is aone of the cornerstones of the European project; however, this has to be balanced against fundamental rights and the possibilitysocial objectives anchored in the Treaties and the right for governments and trade unions to ensure non-discrimination and equal treatment, and the improvement of living and working conditions;
Amendment 93 #
2008/2085(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 105 #
2008/2085(INI)
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Emphasises that the freedom to provide services is not superior to the fundamental rights as laid down in the EU Charter of Fundamental Rights and in particular the right for trade unions to take industrial action, especially since this is a constitutional right in several Member States; emphasizes therefore that the ECJ rulings in Rüffert, Laval and Viking show that it is necessary to clarify that economic freedoms, as established in the Treaties, shall be interpreted in such a way as not infringing upon the exercise of fundamental social rights as recognised in the Member States and by Community law, including the right to negotiate, conclude and enforce collective agreements and to take collective action, and as not infringing upon the autonomy of social partners when exercising these fundamental rights in pursuit of social interests and the protection of workers;
Amendment 108 #
2008/2085(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Stresses that, even if – as the ECJ claimed in the Laval case – Article 3(7).7 of the PWD clearly states that trade unions should be able to demand terms and conditions of employment which are more favourable to workersmay have been drafted especially to ensure that the applicability of the mandatory rules of the host country as enumerated in Article 3.1 of the Posting Directive would not prevent the application of terms and conditions of employment which are more favourable to the worker pursuant to the law or collective agreements in the Member State of origin, the right of trade unions in the host country to demand terms and conditions of employment which are more favourable to workers can never be restricted as this is part of the fundamental right of freedom of association and collective bargaining;
Amendment 161 #
2008/2085(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Questions the introduction of a proportionality principle in the Viking case for the right to use collective action against undertakings which, when using the right of establishment or the right to provide services across borders, deliberately undercut terms and conditions of employment; such a proportionality principle is not compatible with the character of this right as a fundamental right; there should be no question about the right of trade unions to use industrial action to uphold equal treatment and secure decent working conditions;
Amendment 164 #
2008/2085(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Emphasises that the EC’s economic freedoms cannot be interpreted as granting undertakings the right to exercise them for the purpose or with the effect of evading or circumventing national social and employment laws and practices, or for unfair competition on wages and working conditions; considers therefore that cross border actions of undertakings which may undercut terms and conditions of employment in the host country must be proportional and cannot be automatically justified by the Treaty provisions on free movement of services or freedom of establishment as such;
Amendment 180 #
2008/2085(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets the fact that even though the PWD was formulated as a minimum standard directive, the ECJ determines that those minimum standards must be regarded as the maximum in the context of the Laval judgement; this approach causes great concerns as to whether any directives decided on the basis of a minimum approach are regarded as valid; if all directives in the social dimension were to be reformulated as maximum directives, as in the case of the PWD, the consequences would be enormous;
Amendment 187 #
2008/2085(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Regrets that theas a direct consequence of the ECJ’s interpretation of the PWD in the Rüffert judgment, the scope for the introduction and implementation of social considerations referred to in Articles 26 and 27 inof Directive 2004/18, do (Public Procurement Directive), has been limited and according to the ECJ cannot include anymore terms and conditions of employment which go beyond the mandatory rules for minimum protection as interpreted by the ECJ; draws attention to the fact that this may create problems of legal consistency and legal complications for the 10 EU Member States that have ratified ILO Convention 94;
Amendment 231 #
2008/2085(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls on all the Member States to implement and enforce the PWD properly;
Amendment 242 #
2008/2085(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Underlines that the ECJ has interpreted EU legislation in a way that was not the intention of the legislators;Expresses concerns that the ECJ rulings in the Viking, Laval and Rüffert cases have exposed loopholes, inconsistencies and weaknesses in European law and especially the PWD; therefore calls on the Commission, the Council and the EP to take immediate action to ensure the necessary changes in EU legislation to change the new practise of the ECJwhich would clarify the intentions of the legislators and lead to better regulation;
Amendment 247 #
2008/2085(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
Amendment 273 #
2008/2085(INI)
Motion for a resolution
Paragraph 23 – indent 1
Paragraph 23 – indent 1
- a new or additional legal basis for the PWD to better protect workers; workers posted within the framework of services should be regarded as using the right of freedom of movement of workers and not, which would make reference to the free movement of workers provisions of the Treaty; it should be clarified that the free movement of services provisions were clearly intended to cover companies and self employed craftspersons and professionals providing services, whereas the moving around of workers would be covered by the free movement of serviceworkers provisions;
Amendment 274 #
2008/2085(INI)
Motion for a resolution
Paragraph 23 – indent 1 a (new)
Paragraph 23 – indent 1 a (new)
Amendment 275 #
2008/2085(INI)
Motion for a resolution
Paragraph 23 – indent 2
Paragraph 23 – indent 2
- a possibility in the Directive for Member States to refer in law or collective agrepublic procurements law to the 'habitual or prevailing wages' applicable on the basis of regulations or collective agreements in the place of work in the host country as defined in the ILO 94 and not only ‘minimum’ rates of payILO Convention 94;
Amendment 277 #
2008/2085(INI)
Motion for a resolution
Paragraph 23 – indent 5
Paragraph 23 – indent 5
- the recognition of a wider range of methods of organizing labour marketssetting terms and conditions of employment than those currently covered by Article 3(8) including in particular public procurement law;
Amendment 278 #
2008/2085(INI)
Motion for a resolution
Paragraph 23 – indent 5 a (new)
Paragraph 23 – indent 5 a (new)
- the recognition of Member States' wide margin of discretion in defining the public policy provisions referred to in Article 3.10 of the PWD, in accordance with the principle of subsidiarity;
Amendment 296 #
2008/2085(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Would welcome a move to summarize Urges the Commission, the Council and the European Parliament to ensure that also in primary law there is no ambiguity as to the fact that fundamental social rights are not hierarchically subordinate to the economic freedoms, as already recognized in secondary law, i.e. the social clauses that exist in the Monti directiveregulation and in the Services directive in a social clause, either, for instance through a protocol attached to the Treaty or in an inter- institutional agreementies at the next revision;
Amendment 304 #
2008/2085(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26a. Calls on the Commission to put forward the long awaited Communication on transnational collective bargaining proposing the establishment of a legal framework for transnational collective agreements;
Amendment 1 #
2008/2035(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Takes the view that the Member States must set an example as regards, in order to fight against undeclared work and achieve the objectives of the Lisbon agenda, Member States should shifting the burden of taxation and social contributions from the workforce onto energy, and that reducing taxes on the workforce willfrom labour onto energy and/or other mobile factors of the economy such as revenue from financial services and transactions as well as unearned income; believes that reducing taxes on labour is one of the measures which could encourage the conversion of undeclared work into legitimatestandard forms of employment;
Amendment 2 #
2008/2035(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Welcomes the approach taken by the Commission and calls also for a renewed fight against undeclared work and the underground economy, which – although to a varying extent among the Member States – damages the economy, leaves workers unprotected, is detrimental to consumers, reduces tax revenue and leads to unfair competition between undertakings;
Amendment 4 #
2008/2035(INI)
Motion for a resolution
Recital A
Recital A
A. whereas undeclared work is a complex phenomenon, the extent of which is difficult to determine, since it is influenced by numerous economic, social, institutional, regulatory and cultural factors,
Amendment 4 #
2008/2035(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Calls for a strategy towards combating undeclared work based on a strong and efficient coordination and administrative cooperation between government enforcement agencies, labour inspectorates and the social partners, social security administrations and tax authorities;
Amendment 5 #
2008/2035(INI)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Calls on the Member States to use innovative methods based on indicators and benchmarks specific to the different business sectors in order to fight against undeclared work and fiscal erosion and calls upon the Commission to support the exchange of best practices among Member States in the fight against undeclared work;
Amendment 6 #
2008/2035(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Calls on the Member States to withdrareview as swiftly as possible the transitional provisions limiting the mobility of workers from the new Member States, since those provisions encouragesuch mobility is in fact taking place and those workers often end up in undeclared work;
Amendment 8 #
2008/2035(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Calls on the Commission and the Member States to launch an information campaign directed at employers and workers and aimed at drawing attention to the applicable minimum Community rules and regulations and the adverse effects that undeclared work has on public finances, national social security systems, fair competition, economic performance and on workers themselves;
Amendment 38 #
2008/2035(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Considers that action to combat undeclared work requires a comprehensive approach which covers matters relating to monitoring and control, the economic and institutional framework and sectoral and territorial development and involves concerted action at several levels and the participation of all stakeholders (public authorities, social partners, firms and workers);
Amendment 39 #
2008/2035(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Notes the link between delayed economic and productive development and the spread of undeclared work; considers that action to combat undeclared work should be incorporated into the economic and employment policies pursued under the Lisbon strategy; considers, moreover, that, to ensure the strategy to tackle undeclared work is effective and delivers positive results, precise studies should be carried out to analyse the decisive macro- economic factors and the relationship between markets, production models and widespread undeclared working;
Amendment 42 #
2008/2035(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls, therefore, for European action to combat undeclared work to be more pro- active and incisive, in order to prevento ensure that the modernisation of labour law in Europe from remaining on ais not confined to the purely theoretical level but is translated into effective and high- quality policies;
Amendment 48 #
2008/2035(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Points out that the measures introduced to combat undeclared work will also shed light on irregularities in relation to declared employment relationships based on legal contracts;
Amendment 50 #
2008/2035(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls on the Commission to submit proposals with a view to developing a set of generally accepted methods of measuring undeclared work based on a grid of data broken down by gender and sector, given the significantly differing extent to which men and women respectively are engaged in undeclared work in many sectors, and the resulting indirect effect on the pay gap between men and women;
Amendment 56 #
2008/2035(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls on the Commission to frame policies to provide for both general measures and sectoral measures in order to prevent and regulate undeclared work with the full involvement of the social partners and with special reference to the most affected sectors, such as the hotel and catering industry, farming, domestic services and the construction industry; draws the attention of the Commission and the Member States to the specific situation of the domestic care sector, where there is a significant concentration of women who are third-country nationals and, in many cases, are not legally resident in the European Union;
Amendment 81 #
2008/2035(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for new categories of regular work to be assessed and promoted, on the basis of the experience gained in several Member States, to allow those involved in undeclared activities to bring their practices into line with the law, for example by using service vouchers, in line with the best of the current regulatory practices which have proved effective;
Amendment 102 #
2008/2035(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Recalls that the underground economy and undeclared work damages the economy, leaves workers unprotected, is detrimental to consumers, reduces tax revenues and leads to unfair competition between firms, therefore calls for a strategy for combating undeclared work based on a strong and efficient coordination and administrative cooperation between government enforcement agencies, labour inspectorates and social partners, social security administrations and tax authorities;
Amendment 104 #
2008/2035(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls for a strong national coordination of the public and private organisations concerned, calling on the Member States to use innovative methods, based on specific indicators and benchmarks forspecific to the different business sectors, in order to combat tax erosionfight against undeclared work and fiscal erosion and calls upon the Commission to support the exchange of best practices between Member States in the fight against undeclared work;
Amendment 114 #
2008/2035(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls for greater and more effective respect of the right to work and of existing employment rules, in particular those set out in Directive 96/71/EC of the European Parliament and of the Council of 16 December 1996 concerning the posting of workers in the framework of the provision of services, on the basis of a congruent interpretation of the directive which reverses the current trend towards interpreting it in such a way as to level variations in the treatment of workers downwards towards minimum basic standards;
Amendment 138 #
2008/2035(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Calls for the financing of research projects on health and safety at work and of promotional activities geared to prevention and to disseminate a culture of health and safety in the workplace, with particular reference to those sectors in which there is the highest risk of accident, in which undeclared labour is more prevalent; considers that the relationship between accidents at work and unlawful work should be investigated on the basis of the data on fatalities;
Amendment 140 #
2008/2035(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. NotStresses the significant impact on undeclared working of the above- mentioned proposal for a directive of the European Parliament and of the Council providing for sanctions against employers of illegally staying third- country nationals, and expresses its concern that repressive measures are being put in place before any common framework of rules and policies on lawful access to the employment market has been laid down;
Amendment 148 #
2008/2035(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
38. Considers that the fight against a growing informal economy and, in particular, against the exploitation of clandestine migrant workers, can be based not only on a policy of prosecution and deportrepatriation but also on instruments and mechanisms to prevent and combat the exploitation of migrant workers, making provision for the recognition of and respect for fundamental human rights and the work of illegal immigrants;
Amendment 2 #
2008/2012(INI)
Draft opinion
Part A – paragraph 2
Part A – paragraph 2
2. Draws attention to the fact that the relevant statistics must be coherent, comparable, complete and designed to take account of new systems of classifying and organising staff and reforming work organisation, and considers that the pay gap should not simply be determined on the basis of differences in gross hourly earnings but should also take account of factors such as individual pay supplements, job classification, work organisation patterns, professional experience and productivity, which should be measured not only in quantitative terms (hours when the worker is physically present at the workplace) but also in qualitative terms and in terms of the impact which reductions in working hours, periods of leave and absences for health reasons have on automatic pay rises.
Amendment 6 #
2008/2012(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the gender pay gap is still persistent, as evidenced by data pointing to extremely slow progress (from 17% in 1995 to 15% in 2005), in spite of the significant body of legislation in force for more than 30 years and the actions taken and resources spent on trying to reduce it; whereas the causes of this difference need to be analysed and approaches to tackling the pay gap and the segregation of the female employment market of which it is an adjunct need to be put forward,
Amendment 7 #
2008/2012(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the pay gap results from direct and indirect discrimination, as well as from social and economic factors, labour market segregation and the overall wage structure and is, moreover, linked to a number of legal, social and economic factors, which go beyond the single issue of equal pay for the same job,
Amendment 8 #
2008/2012(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas the pay gap is not based solely on disparities in gross hourly earnings and account should also be taken of factors such as individual pay supplements, job classification, work organisation patterns, professional experience and productivity, which should be measured not only in quantitative terms (hours when the worker is physically present at the workplace) but also in qualitative terms and in terms of the earnings impact of shorter working hours, leave and health-related absences,
Amendment 8 #
2008/2012(INI)
Draft opinion
Part A – paragraph 3 a (new)
Part A – paragraph 3 a (new)
3a. Considers that the direct interlocutors of the Commission’s action – and those responsible for implementing the strategy designed to bridge the wage gap between men and women – should be not just the Member States and the social partners but also equality organisations, which amongst other things could satisfy the need for specific training concerning gender and the gender pay gap to be made available to the social partners and also to lawyers, magistrates and ombudsmen;
Amendment 10 #
2008/2012(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the various approaches proposed to reduce the pay gap, bearing in mind the various stakeholders at whom they are directed – Member States, social partners and equal opportunity organisations – should be based on an appropriate combination of economic, fiscal and social security, labour and social policies in keeping with the integrated guidelines for the Lisbon Strategy,
Amendment 14 #
2008/2012(INI)
Motion for a resolution
Recital G
Recital G
G. whereas professions and jobs in which women predominate have a tendency to be undervalued in comparison with those in which men predominate, without necessarily being justified by any objective criteriaand whereas pay disparities between men and women stem not only from differences in the makeup of the labour force and the type of work performed but also from discrimination in connection with work organisation, collective bargaining processes, business strategies and the distribution of roles in society,
Amendment 20 #
2008/2012(INI)
Draft opinion
Part A – paragraph 4 a (new)
Part A – paragraph 4 a (new)
4a. Considers that the Commission should gear itself to providing assistance to the Member States and to stakeholders as regards practical measures to bridge the gender pay gap by means of the following: (a) devising reporting schemes for the purpose of assessing pay gaps between men and women, (b) creating a data bank containing information concerning changes to the systems for the classification and the organisation of workers, (c) collating and disseminating the results of experiments relating to the reform of work organisation, (d) devising specific guidelines for the monitoring of pay differentials within the context of collective bargaining, (e) making all the above available on an Internet site translated into various languages and accessible to all.
Amendment 22 #
2008/2012(INI)
Draft opinion
Part B - paragraph 1 – point a a (new)
Part B - paragraph 1 – point a a (new)
(aa) the ban on discrimination, explicitly mentioning the gender pay gap and possibly introducing a definition thereof;
Amendment 23 #
2008/2012(INI)
Draft opinion
Part B - paragraph 1 – point b a (new)
Part B - paragraph 1 – point b a (new)
(ba) specific measures relating to training and job classification, aimed at the vocational-training system and at the social partners and designed to remove and prevent discrimination in training and classification and in the economic valuation of skills;
Amendment 24 #
2008/2012(INI)
Draft opinion
Part B - paragraph 1 – point b b (new)
Part B - paragraph 1 – point b b (new)
(bb) the list of examples of discrimination to be incorporated and to be supplemented with specific and more detailed examples concerning pay discrimination,
Amendment 25 #
2008/2012(INI)
Draft opinion
Part B - paragraph 1 – point b c (new)
Part B - paragraph 1 – point b c (new)
(bc) the arrangements relating to leave, with specific provision for paternity leave and the protection thereof and for parental leave with financial cover for both parents, on the grounds that shared leave is central to overcoming segregation and stereotypes and to redistributing roles in order to prevent career development from being penalised,
Amendment 28 #
2008/2012(INI)
Draft opinion
Part B - paragraph 2 – subparagraph 1
Part B - paragraph 2 – subparagraph 1
2. Is convinced that it is essential to ensure better and speedier implementation of the provisions of the directive aimed at relating to equality organisations and social dialogue with a view to redressing differences in pay by ensuring the Member States, social partners and equal opportunity organisations apply measures such as those set out in the 'Framework of actions on gender equality' endorsed by the social partners in March 2005, by providing for:
Amendment 29 #
2008/2012(INI)
Motion for a resolution
Recital K a (new)
Recital K a (new)
Ka. whereas the implementation by the Member States, social partners and equal opportunity organisations of measures such as those set out in the 'Framework of actions on gender equality' endorsed by the social partners in March 2005 would help close the pay gap through effective social dialogue,
Amendment 30 #
2008/2012(INI)
Motion for a resolution
Recital K b (new)
Recital K b (new)
Kb. whereas a strategy to remedy the pay gap, horizontal and vertical segregation of the labour market and stereotyping of the jobs and sectors where women typically predominate will require a framework for legislative and other measures at various levels which distinguishes between pay discrimination and pay differences based on factors other than direct or indirect discrimination, since while the former fall directly within the scope of legislation, the latter have to be tackled by means of targeted policies and specific measures,
Amendment 44 #
2008/2012(INI)
Motion for a resolution
Recommendation 1
Recommendation 1
The Recast Directive No 2006/54 contains a definition of equal pay, by copying the provisions of the Directive 75/117. To have more precise categories as tools for dealing with the gender pay gap (GPG) it is important to define the different concepts more in detail, such as: - GPG; - Direct pay discrimination; - Indirect pay discrimination, with the inclusion of a definition of 'pay gap' in Article 2 of Directive 2006/54, together with a specific ban on pay discrimination, to be inserted in the first part of Article 4, and specific examples of discrimination along the lines of Article 9 of the directive. The definition must not be cover gross hourly pay alone; - Direct pay discrimination; - Indirect pay discrimination, with specific reference to transparent and comparable vocational qualification, staff organisation and work organisation systems, with the second part of Article 4 of the directive being amended accordingly; - Pension gap - in different pillars of pension systems, i.e. in pay as you go systems, occupational pensions (as a continuation of the pay gap after retirement).
Amendment 47 #
2008/2012(INI)
Motion for a resolution
Recommendation 2 − point 2.3. a (new)
Recommendation 2 − point 2.3. a (new)
2.3.a. Those statistics should be coherent, comparable, complete and designed to take account of new systems for classifying and organising staff and reforming work organisation. The information provided by employers on equal treatment for men and women at the workplace should include specific and targeted information concerning pay differences, including individual pay supplements, and a greater involvement of, and a specific role for, social partners and equal opportunity organisations;
Amendment 56 #
2008/2012(INI)
Motion for a resolution
Recommendation 3 − point 3.2. a (new)
Recommendation 3 − point 3.2. a (new)
3.2.a. A gender-neutral job evaluation should be based on new systems for classifying and organising staff and organising work and on professional experience and productivity assessed above all in qualitative terms, for use as a source of data and assessment grids for determining pay, with due regard to the principle of comparability,
Amendment 59 #
2008/2012(INI)
Motion for a resolution
Recommendation 4
Recommendation 4
The equality bodies should play a specialgreater role in diminishing the GPG, enabling them to monitor and, where possible, enforce more effectively and more independently the application of gender equality legislation. Their role should be enhancedArticle 20 of Directive 2006/54 should be revised so as to enhance their role by: - supporting and advising victims of pay discrimination; - providing independent surveys concerning the pay gap; - publishing independent reports and making recommendations on any issue relating to pay discrimination (direct and indirect); - providing special training for the social partners and for lawyers, judges and ombudsmen based on a toolbox of analytical instruments and targeted measures to be used either when drawing up contracts or when checking whether rules and policies to address the pay gap are being implemented.
Amendment 68 #
2008/2012(INI)
Motion for a resolution
Recommendation 5 a (new)
Recommendation 5 a (new)
Amendment 69 #
2008/2012(INI)
Motion for a resolution
Recommendation 5 b (new)
Recommendation 5 b (new)
Amendment 41 #
2008/0193(COD)
Proposal for a directive – amending act
Recital 13 a (new)
Recital 13 a (new)
(13a) For the purposes of measures to help workers reconcile their professional rights and obligations with their family rights and obligations, it is essential to provide for longer maternity and paternity leave, including where a child is adopted.
Amendment 53 #
2008/0193(COD)
Proposal for a directive – amending act
Article 1 – point -1 c (new)
Article 1 – point -1 c (new)
Directive 92/85/EEC
Article 2
Article 2
-1c. Article 2 is replaced by the following: “Article 2 Definitions For the purposes of this Directive: (a) pregnant worker shall mean a pregnant worker employed under any type of contract, including in domestic work, who informs her employer of her condition, in accordance with national legislation and/or national practice; (b) worker who has recently given birth shall mean a worker employed under any type of contract, including in domestic work, who has recently given birth within the meaning of national legislation and/or national practice and who informs her employer of her condition, in accordance with that legislation and/or practice; (c) worker who is breastfeeding shall mean a worker employed under any type of contract, including in domestic work, who is breastfeeding within the meaning of national legislation and/or national practice and who informs her employer of her condition, in accordance with that legislation and/or practice;”
Amendment 63 #
2008/0193(COD)
Proposal for a directive – amending act
Article 1 – point -1 g (new)
Article 1 – point -1 g (new)
Directive 92/85/EEC
Article 7 a (new)
Article 7 a (new)
-1g. The following paragraph is inserted in Article 7a : “Article 7a In the period following the period determined by the national competent authority referred to in Article 7(1), working women or men who have a child aged not more than three years shall not be obliged to perform night work. For single parents, that period may be extended in accordance with the procedures laid down by the Member States. For parents of children with severe disabilities, the period in question may similarly be extended in accordance with the procedures laid down by the Member States.”
Amendment 83 #
2008/0193(COD)
Proposal for a directive – amending act
Article 1 – point 1
Article 1 – point 1
Directive 92/85/EEC
Article 8 – paragraph 2 a (new)
Article 8 – paragraph 2 a (new)
2a. For multiple births the compulsory leave shall be increased by one month for each sibling in addition to the first.
Amendment 93 #
2008/0193(COD)
Proposal for a directive – amending act
Article 1 – point 1 a (new)
Article 1 – point 1 a (new)
Directive 92/85/EEC
Article 8 a (new)
Article 8 a (new)
1a. The following Article 8a is inserted: “Article 8a Leave for adoption Member States shall take the necessary measures to ensure that maternity and paternity leave are likewise allowed in the event of adoption.”
Amendment 98 #
2008/0193(COD)
Proposal for a directive – amending act
Article 1 – point 2
Article 1 – point 2
Directive 92/85/EEC
Article 10 – paragraph 1
Article 10 – paragraph 1
1. The Member States shall take the necessary measures to prohibit the dismissal and all preparations for a dismissal of workers within the meaning of Article 2 during the period from the beginning of their pregnancy to the end of the maternity leave provided for in Article 8(1). Dismissal during that period shall be presumed to have arisen on grounds of discrimination, save in exceptional cases not connected with their condition, and duly specified in writing, which are permitted under national legislation and/or practice and, where applicable, provided that the competent authority has given its consent.
Amendment 105 #
2008/0193(COD)
Proposal for a directive – amending act
Article 1 – point 2
Article 1 – point 2
Directive 92/85/EEC
Article 10 – paragraph 2
Article 10 – paragraph 2
2. If a worker within the meaning of Article 2 is dismissed during the period referred to in point 1 the employer must cite duly substantiated grounds for her dismissal in writing. If the dismissal occurs within sixtwelve months following the end of maternity leave as provided for in Article 8(1), the employer must cite duly substantiated grounds for her dismissal in writing at tit shall be presumed to have arisen on grounds of discrimination, save in an exceptional case not connected with her condition, and duly specified in writing, which is permitted under national legislation and/or practice and, whe request of the worker concerned applicable, provided that the competent authority has given its consent.
Amendment 108 #
2008/0193(COD)
Proposal for a directive – amending act
Article 1 – point 3
Article 1 – point 3
Directive 92/85/EEC
Article 10 – paragraph 4 a (new)
Article 10 – paragraph 4 a (new)
4a. Member States shall take the necessary measures to ensure that, while on paternity leave and in the three months thereafter, male workers enjoy the protection from dismissal accorded by this Article to the female workers referred to in Article 2.
Amendment 118 #
2008/0193(COD)
Proposal for a directive – amending act
Article 1 – point 3 – point c
Article 1 – point 3 – point c
Directive 92/85/EEC
Article 11 – paragraph 3
Article 11 – paragraph 3
“3. the allowance referred to in point 2(b) shall be deemed adequateivalent if it guarantees income at least equivalent to the last monthly salary or an average monthly salary, subject to any ceiling laid down under national legislation. Such a ceiling may not be lower than the allowance received by workers within the meaning of Article 2 in the event of a break in activity on grounds connected with the worker’s state of healthWhen making the calculation, any salary increases resulting from legislation or contractual provisions must be factored in. Such a ceiling may not be lower than 80% of the last monthly salary or the average monthly salary of the worker concerned. The Member States may lay down the period over which this average monthly salary is calculated.”
Amendment 31 #
2008/0191(COD)
Proposal for a directive – amending act
Recital 3
Recital 3
(3) Therefore, it is important to lay down criteria for those capital instruments to be eligible for original own funds of credit institutions and to align the provisions in Directive 2006/48/EC to that agreement. The amendments to Annex XII to Directive 2006/48/EC result directly from the establishment of those criteria. The eligibility criteria shouldOriginal own funds referred to in Article 57(a) of Directive 2006/48/EC include all instruments that are regarded under national law as equity capital, and rank after all other claims during liquidation. Original own funds referred to the most subordinatedin Article 57(a) of Directive 2006/48/EC also include any other instruments of a under credit institution that does not have proprietors or shareholders' statutory terms taking into account the specific constitution of mutuals, cooperative societies uander national law, such as certain members' certificates of cooperative banks, insofar as the respective capital has been paid up and similar institutions and which are deemed broadly equivalent to ordinary shares in terms of their capital qualities. Instruments that do not ranks after all other claims during liquidation are included in the category of hybrids referred to in Article 57(ca) of Directive 2006/48/EC.
Amendment 76 #
2008/0191(COD)
Proposal for a directive – amending act
Article 1 – point 9
Article 1 – point 9
Directive 2006/48/EC
Article 61 – paragraph 1
Article 61 – paragraph 1
The concept of own funds as defined in points (a) to (h) of Article 57 embodies a maximum number of items and amounts. Member States may decide on the use of those items and on the deduction of items other than those listed in points (i) to (r) of Article 57.
Amendment 79 #
2008/0191(COD)
Proposal for a directive – amending act
Article 1 – point 11
Article 1 – point 11
Directive 2006/48/EC
Article 63a – paragraph 3
Article 63a – paragraph 3
3. The statutory or contractual provisions governing the instrument shall allow the credit institution to cancelwaive, when necessary, the payment of interest or dividends for an unlimited period of time, on a non- cumulative basis. However, the credit institution shall cancelwaive such payments if it does not comply with the capital requirements set out in Article 75. The competent authorities may require the cancellation of such payments based on the specific financial and solvency situation of the credit institution. Such cancellationwaiver shall not prejudice the right of the credit institution to substitute the payment in cash of interest or dividend by a payment in the form of an instrument referred to in point (a) of Article 57, provided that any such mechanism allows the credit institution to preserve financial resources. Such substitution may be subject to specific conditions established by the competent authorities.
Amendment 81 #
2008/0191(COD)
Proposal for a directive – amending act
Article 1 – point 11
Article 1 – point 11
Directive 2006/48/EC
Article 63a – paragraph 4
Article 63a – paragraph 4
4. The statutory or contractual provisions governing the instrument shall provide for principal, unpaid interest or dividend to be such as to absorb losses and to not hinder the recapitalisation of the credit institution through appropriate mechanisms, as elaborated by the Committee of European Banking Supervisors under paragraph 6.
Amendment 127 #
2008/0191(COD)
Proposal for a directive – amending act
Article 1 – point 21 – point d
Article 1 – point 21 – point d
Directive 2006/48/EC
Article 113 – paragraph 4 – introductory part
Article 113 – paragraph 4 – introductory part
"4. Member States may fully or partiallyshall exempt the following exposures from the application of Article 111(1):
Amendment 131 #
2008/0191(COD)
Proposal for a directive – amending act
Article 1 – point 21 – point d
Article 1 – point 21 – point d
Directive 2006/48/EC
Article 113 – paragraph 4 – point f
Article 113 – paragraph 4 – point f
(f) asset items constituting claims on and other exposures to institutions, provided that these exposures do not constitute such institutions' own funds, and do not last longer than the following business day and are denominated in a currency of the Member State exercising this option, provided that such currency is not the euro.
Amendment 262 #
2008/0191(COD)
Proposal for a directive – amending act
Article 1 – point 28 – point b
Article 1 – point 28 – point b
Directive 2006/48/EC
Article 129 – paragraph 3 – subparagraph 7
Article 129 – paragraph 3 – subparagraph 7
The joint decision referred to in the first subparagraph and the decision referred to in the sixth subparagraph shall be recognised as determinative and applied by the competent authorities in the Member State concerned. The Committee of European Banking Supervisors shall elaborate guidelines for the convergence of supervisory practices with regard to the joint decision process referred to in this paragraph and with regard to application of Articles 123, 124 and 136(2) with a view to facilitating the joint decision referred to in the first subparagraph.
Amendment 266 #
2008/0191(COD)
Proposal for a directive – amending act
Article 1 – point 30
Article 1 – point 30
Directive 2006/48/EC
Article 131a – paragraph 2 – subparagraph 2
Article 131a – paragraph 2 – subparagraph 2
The Committee of European Banking Supervisors shall elaborate guidelines for the operational functioning of colleges. The consolidating supervisor shall consider such guidelines, and explain any significant deviation therefrom.
Amendment 93 #
2008/0153(COD)
Proposal for a directive
Recital 5 a (new)
Recital 5 a (new)
(5a) Where a provision of this Directive requires a UCITS to take action, the obligation should be understood to refer to the management company where the UCITS is constituted as a common fund and where such fund has no legal personality and cannot act by itself.
Amendment 94 #
2008/0153(COD)
Proposal for a directive
Recital 9
Recital 9
(9) By virtue of the principle of home Member State supervision, management companies authorised in their home Member States should be permitted to carry on the services for which they have received authorisation throughout the Community by establishing branches or under the freedom to provide services. The approval of the fund rules of common funds/unit trusts falls within the competence of the management company's home Member State.
Amendment 97 #
2008/0153(COD)
Proposal for a directive
Recital 10
Recital 10
(10) With regard to collective portfolio management (management of unit trusts/common funds and investment companies), the authorisation granted to a management company authorised in its home Member State should permit the company to carry on in host Member States the following activities: to distribute the units of the harmonised unit trusts/common funds managed by the company in its home Member State; to distribute the shares of the harmonised investment companies, managed by such a company; to perform all the other functions and tasks included in the activity of collective portfolio management; to manage the assets of investment companies incorporated in Member States other than its home Member State; to perform, on the basis of mandates, on behalf of management companies incorporated in Member States other than its home Member State, the functions included in the activity of collective portfolio management.
Amendment 98 #
2008/0153(COD)
Proposal for a directive
Recital 11
Recital 11
(11) The principle of home Member State supervision requires that the competent authorities should not grant or should withdraw authorisation where factors, such as the content of programmes of operations, the geographical distribution or the activities actually carried on indicate clearly that a management company has opted for the legal system of one Member State for the purpose of evading the stricter standards in force in another Member State within the territory of which it intends to carry on or does carry on the greater part of its activities. For the purpose of this Directive, a management company should be authorised in the Member State in which it has its registered office. In accordance with the principle of the home country control, only the Member State in which the management company has its registered office can be considered competent to approve the fund rules of unit trusts/common funds set up by such a company and the choice of the depositary. In order to prevent supervisory arbitrage and to promote confidence in the effectiveness of supervision by the home Member State authorities, a requirement for authorisation of a UCITS should be that it should not be prevented in any legal way from being marketed in its home Member State. This does not affect the free decision, once the UCITS has been authorised, to choose the Member State(s) where the units of the UCITS are to be marketed in accordance with this Directivsupervision, only the competent authorities of the management company’s home Member State can be considered competent to supervise the organisation of the management company, which should be subject to the law of the management company’s home Member State.
Amendment 99 #
2008/0153(COD)
Proposal for a directive
Recital 11 a (new)
Recital 11 a (new)
Amendment 100 #
2008/0153(COD)
Proposal for a directive
Recital 11b (new)
Recital 11b (new)
(11b) The competent authorities of the UCITS home Member State should be competent to supervise compliance with the rules regarding the constitution and functioning of the UCITS, which should be subject to the law of the UCITS home Member State. To this effect, the competent authorities of the UCITS home Member State should be able to get information directly from the management company. To remedy any breach of the rules under their responsibility, the competent authorities of the UCITS home Member State should be able to rely on the cooperation of the competent authorities of the management company’s home Member State and, if necessary, they should be able to take action directly against the management company.
Amendment 101 #
2008/0153(COD)
Proposal for a directive
Recital 11c (new)
Recital 11c (new)
(11c) In order to prevent supervisory arbitrage and to promote confidence in the effectiveness of supervision by the home Member State authorities, a requirement for authorisation of a UCITS should be that it should not be prevented in any legal way from being marketed in its home Member State. This does not affect the free decision, once the UCITS has been authorised, to choose the Member State(s) where the units of the UCITS are to be marketed in accordance with this Directive.
Amendment 102 #
2008/0153(COD)
Proposal for a directive
Recital 11d (new)
Recital 11d (new)
(11d) Appropriate procedures and arrangements to deal with investor complaints, including through appropriate provisions that are reflected in distribution arrangements or through providing an address in the UCITS home Member State, which need not be an address of the management company itself, should be adopted by the management company.
Amendment 103 #
2008/0153(COD)
Proposal for a directive
Recital 18
Recital 18
(18) Despite the need for consolidation between UCITS, mergers of UCITS encounter many legislative and administrative difficulties in the Community. It is therefore necessary, in order to improve the functioning of the Internal Market, to lay down Community provisions facilitating mergers between UCITS (and investment compartments thereof). Although some Member States havemay authorised only contractual funds, cross border mergers between all types of funds (contractual, corporate and unit trusts) should be allowed and recognised by the laws of each Member State. This Directive covers those merger techniques which are most commonly used in thdoes not require Member Sstates. It does not prevent UCITS from using other techniques on a domestic or cross-border basis. These will however remain subject to the relevant provisions of national law to introduce new legal forms of UCITS into their national regulation.
Amendment 105 #
2008/0153(COD)
Proposal for a directive
Recital 18 a (new)
Recital 18 a (new)
(18a) This Directive covers those merger techniques which are most commonly used in Member States. It does not imply that all Member States have to introduce all three techniques into their national laws but each Member State should recognize a transfer of assets resulting from these merger techniques. It should not prevent a UCITS from using other techniques on a purely domestic basis, in situations where none of the UCITS concerned by the merger has been notified for cross border marketing of its units. Those mergers should remain subject to the relevant provisions of national law. Quorum rules should not discriminate between national and cross border mergers, nor should they be more stringent than laid down for mergers of corporate entities.
Amendment 106 #
2008/0153(COD)
Proposal for a directive
Recital 19
Recital 19
(19) In order to safeguard investors' interests, Member States should require proposed mergers between UCITS either within their jurisdiction or on a cross- border basis to be subject to authorisation by their competent authorities. For cross- border mergers, the competent authorities of the home Member State of the UCITS that will cease to exist (the merging UCITS) should approve the merger so as to ensure that the interests of the unit- holders who effectively change funds are duly protected. If the merger involves more than one merging UCITS and such UCITS are domiciled in different Member States, the competent authorities of each merging UCITS will need to approve the merger, in close cooperation with each other. Since the interests of the unit-holders of the UCITS which continues to exist after the merger (, including through appropriate information sharing. Since the interests of the unit-holders of the receiving UCITS) also need to be adequately safeguarded, they should be taken into account by the competent authorities of the mergreceiving UCITS' home Member State when approving a cross- border merger. Furthermore, unit-holders of both the merging UCITS and the receiving UCITS should have the right to request the repurchase or redemption of their units, without additional charge, i.e. being subject only to the fees to be retained by the respective funds to cover disinvestment costs in all situations, as laid down in the respective prospectuses; or, where possible, to convert them into units in another UCITS with similar investment policies and managed by the same management company or by another company linked to it.
Amendment 108 #
2008/0153(COD)
Proposal for a directive
Recital 21
Recital 21
(21) It is particularly important that the unit-holders are adequately informed about the proposed merger and that their rights are sufficiently protected. Although unit- holders of the merging UCITS are most concerned, the interests of the unit-holders of the receiving UCITS should also be safeguarded in such situations where the proposed merger could have a substantial impact on their investment.
Amendment 113 #
2008/0153(COD)
Proposal for a directive
Recital 40
Recital 40
(40) In order to protect the feeder UCITS' investors, the feeder UCITS' investment into the master UCITS should be subject to prior approval of the competent authorities of the feeder UCITS' home Member State. Only the initial investment into the master UCITS by which the feeder UCITS exceeds the limit applicable for investing into another UCITS should require approval. In order to facilitate the effective operation of the internal market and to ensure the same level of investor protection throughout the Community, the conditions which have to be met and the documents and information which have to be provided for approving the feeder UCITS' investment into the master UCITS should be exhaustive.
Amendment 114 #
2008/0153(COD)
Proposal for a directive
Recital 41
Recital 41
(41) In order to allow the feeder UCITS to act in the best interests of its unit-holders and notably place it in a position to obtain from the master UCITS all information and documents necessary to perform its obligations, the feeder UCITS and the master UCITS should enter into a binding and enforceable agreement. In a similar way theHowever, if both are managed by the same management company, it should be sufficient that the latter set up internal conduct of business rules. An information- sharing agreement between the depositaries or, respectively, the auditors of the feeder UCITS and the master UCITS should ensure the flow of information and documents that is needed for the feeder UCITS' depositary or auditor to fulfil its duties. This Directive should ensure that, when complying with these requirements, the depositaries or the auditors would not be in breach of any restriction on disclosure of information or of data protection.
Amendment 115 #
2008/0153(COD)
Proposal for a directive
Recital 42
Recital 42
(42) In order to ensure a high level of protection of the interests of the feeder UCITS' investors, the prospectus, the key investor information as referred to in Article 73, as well as all marketing communications should be adapted to the specificities of master-feeder-structures. The investment of the feeder UCITS into the master UCITS should not affect the ability of the feeder UCITS to itself repurchase or redeem units at the request of its unit-holders and to act in the best interests of its unit-holders.
Amendment 116 #
2008/0153(COD)
Proposal for a directive
Recital 44
Recital 44
(44) The conversion rules should enable an existing UCITS to convert into a feeder UCITS. At the same time they should sufficiently protect unit-holders. As such a conversion is a fundamental change of the investment policy, the converting feeder UCITS should be required to provide its unit-holders with sufficient information asin order to enable them to decide whether to maintain their investment or not. Competent authorities should not require the feeder UCITS to provide more or other information than those specified.
Amendment 117 #
2008/0153(COD)
Proposal for a directive
Recital 46
Recital 46
(46) Key investor information should be provided to investors, at a pre-contractual stageas a specific document to investors free of charge, in good time before the subscription of the UCITS, in order to help them to reach informed investment decisions. It should contain only the essential elements for making such decisions. The nature of the information to be found in the key investor information should be fully harmonised to the highest extent so as to ensure adequate investor protection and comparability. Key investor information should be presented in a short format. A single document of limited length presenting the information in a specified order is the most appropriate way to achieve the clarity and simplicity of presentation that is required by retail investors, and should allow for useful comparisons.
Amendment 119 #
2008/0153(COD)
Proposal for a directive
Recital 47
Recital 47
(47) Key investor information should be produced for all UCITS. Management companies or, where applicable, investment companies should deliverprovide the key investor information to the relevant entities, depending on the distribution method used (direct sales or intermediated sales). Regulation on how the key investor information is used by intermediaries at the point of sale is to be left to the relevant legislation covering such intermediaries, such as Directive 2004/39/ECIntermediaries should provide key investor information to clients and potential clients.
Amendment 120 #
2008/0153(COD)
Proposal for a directive
Recital 47 a (new)
Recital 47 a (new)
(47a) The right for UCITS to sell their units in other Member States should be subject to their taking the necessary measures to ensure that facilities are available in the host Member State for making payments to unit-holders, re- purchasing or redeeming units and making available the information which UCITS are obliged to provide. However, UCITS should not be obliged by the law of the host Member State to have a paying agent in that Member State in order to fulfil their duties.
Amendment 121 #
2008/0153(COD)
Proposal for a directive
Recital 49
Recital 49
(49) In order to facilitate cross-border marketing of units of UCITS, control of compliance of arrangements made for marketing of units of UCITS with laws regulations and administrative procedures applicable in the UCITS host Member State, should be performed on a on-going basis after the UCITS has started marketing its units in that Member State. This control can cover, in particular,after the UCITS has accessed the market of that Member State. This control can cover the adequacy of arrangements made for marketing, in particular the adequacy of distribution arrangements and the obligation for marketing communications to be presented in a fair, clear and not- misleading way. This Directive should not prevent competent authorities of the host Member State from checking marketing communications (which does not include key investor information, prospectus and annual and half-yearly reports) according to national law before the UCITS can use them, but this control should not be discriminatory and should not prevent this UCITS from accessing the market.
Amendment 122 #
2008/0153(COD)
Proposal for a directive
Recital 50
Recital 50
(50) For the purpose of enhancing legal certainty there is a need to ensure that a UCITS which markets its units on a cross- border basis has an easy access, in the form of an electronic publication and in a language customary in the sphere of international finance, to complete information on the laws, regulations and administrative provisions applicable in the UCITS host Member State and related tothat specifically relate to the arrangements made for the marketing of UCITS.
Amendment 123 #
2008/0153(COD)
Proposal for a directive
Recital 51
Recital 51
(51) To facilitate cross-border marketing of units of UCITSaccess of UCITS to the markets of Member States, a UCITS should be required to translate only the key investor information into the official language or one of the official languages of a UCITS host Member State or a language approved by its competent authority. Key investor information should specify the language(s) in which other obligatory disclosure documents and additional information are available.
Amendment 124 #
2008/0153(COD)
Proposal for a directive
Recital 52
Recital 52
(52) It is necessary to enhance convergence of powers at the disposal of competent authorities so as to bring about an equal enforcement of the Directive throughout the Member States. A common minimum set of powers, consistent with those conferred upon competent authorities by other Community financial services legislation should guarantee supervisory effectiveness. In addition, Member States should lay down rules on penalties, including criminal, civil and administrative penalties, and administrative measures, applicable to infringements of this Directive and should take the measures necessary to ensure that they are implemented.
Amendment 125 #
2008/0153(COD)
Proposal for a directive
Recital 53 a (new)
Recital 53 a (new)
(53a) Member States should take the necessary administrative and organisational measures to enable the cooperation between national authorities and competent authorities of other Member States, including through bilateral or multilateral agreements between those authorities, so that they can fully carry out their duties in accordance with this Directive.
Amendment 126 #
2008/0153(COD)
Proposal for a directive
Recital 55
Recital 55
(55) The principle of home Member State supervision requires that the competent authorities should not grant or should withdraw authorisation where factors such as the content of programmes of operations, the geographical distribution or the activities actually carried on indicate clearly that a UCITS or an undertaking contributing towards its business activity has opted for the legal system of one Member State for the purpose of evading the stricter standards in force in another Member State within whose territory it carries on or intends to carry on the greater part of its activities. A UCITS or an undertaking contributing towards its business activity which is a legal person must be authorised in the Member State in which it has its registered office. A UCITS or an undertaking contributing towards its business activity which is not a legal person must have its head office in the Member State in which it has been authorised. In addition, Member States must require that a UCITS' head office or a head office of an undertaking contributing towards its business activity always be established in its home Member State and that it actually operates there.
Amendment 128 #
2008/0153(COD)
Proposal for a directive
Recital 65 a (new)
Recital 65 a (new)
Amendment 129 #
2008/0153(COD)
Proposal for a directive
Recital 65 b (new)
Recital 65 b (new)
Amendment 132 #
2008/0153(COD)
Proposal for a directive
Article 4
Article 4
For the purposes of this Directive, a UCITS shall be deemed to be established in the Member State in which the investment company or the management company of the common fund has its registered office. The Member States shall require that the head office be established in the same Member State as the registered officits home Member State.
Amendment 133 #
2008/0153(COD)
Proposal for a directive
Article 5 - paragraph 1 - subparagraph 1
Article 5 - paragraph 1 - subparagraph 1
1. No UCITS shall carry on activities as such unless it has been authorised by the competent authorities of thits home Member State in which it is established.
Amendment 135 #
2008/0153(COD)
Proposal for a directive
Article 5 - paragraph 2
Article 5 - paragraph 2
2. A common fund shall be authorised only if the competent authorities of its home Member State have approved the choice of the management company to manage the UCITS, the fund rules and the choice of depositary. An investment company shall be authorised only if the competent authorities of its home Member State have approved both its instruments of incorporation and the choice of depositary, and, where applicable, the choice of the designated management company to manage the UCITS.
Amendment 137 #
2008/0153(COD)
Proposal for a directive
Article 5 - paragraph 2 a (new)
Article 5 - paragraph 2 a (new)
2a. Without prejudice to paragraph 2, if the UCITS is not established in the management company’s home Member State, the competent authorities of the UCITS home Member State shall approve the application of the management company to manage the UCITS pursuant to Article 5a. It must not be made a condition of authorisation that the UCITS be managed by a management company having its registered office in the UCITS home Member State or that the management company performs or delegates any activities in the UCITS home Member State.
Amendment 138 #
2008/0153(COD)
Proposal for a directive
Article 5 - paragraph 3 - subparagraph 1
Article 5 - paragraph 3 - subparagraph 1
3. The competent authorities may not authorise a UCITS if the management company or the investment company does not comply with the preconditions laid down in Chapters III and V respectively. of the UCITS home Member State may not authorise a UCITS if: (a) such authorities establish that the investment company does not comply with the preconditions laid down in Chapter V; or b) the management company is not authorised as a UCITS management company in its home Member State.
Amendment 140 #
2008/0153(COD)
Proposal for a directive
Article 5 - paragraph 3 - subparagraph 2
Article 5 - paragraph 3 - subparagraph 2
Moreover, the competent authorities of the UCITS home Member State may not authorise a UCITS if the directors of the depositary are not of sufficiently good repute or are not sufficiently experienced also in relation to the type of UCITS to be managed. To that end, the names of the directors of the depositary and of every person succeeding them in office shall be communicated forthwith to the competent authorities.
Amendment 141 #
2008/0153(COD)
Proposal for a directive
Article 5 - paragraph 5
Article 5 - paragraph 5
5. Neither the management company nor the depositary may be replaced, nor may the fund rules or the instruments of incorporation of the investment company be amended, without the approval of the competent authorities of the UCITS home Member State.
Amendment 142 #
2008/0153(COD)
Proposal for a directive
Article 5 - paragraph 5 a (new)
Article 5 - paragraph 5 a (new)
5a. Member States shall ensure that complete information on the laws, regulations and administrative provisions implementing this Directive which relate to the constitution and functioning of the UCITS is easily accessible at a distance or by electronic means. Member States shall ensure that this information is available, at least, in a language customary in the sphere of international finance, provided in a clear and unambiguous manner, and kept up-to-date.
Amendment 143 #
2008/0153(COD)
Proposal for a directive
Article 5 a (new)
Article 5 a (new)
Amendment 144 #
2008/0153(COD)
Proposal for a directive
Article 6 - paragraph 1
Article 6 - paragraph 1
1. Access to the business of management companies shall be subject to prior official authorisation to be granted by the competent authorities of the UCITSmanagement company's home Member State. Authorisation granted under this Directive to a management company shall be valid for all Member States.
Amendment 147 #
2008/0153(COD)
Proposal for a directive
Article 12 - paragraph 1 - subparagraph 1
Article 12 - paragraph 1 - subparagraph 1
1. Each management company's home Member State shall draw up prudential rules which management companies authorised in that Member State, with regard to the activity of management of UCITS authorised according to this Directive, shall observe at all times.
Amendment 148 #
2008/0153(COD)
Proposal for a directive
Article 12 - paragraph 1 - point b
Article 12 - paragraph 1 - point b
(b) is structured and organised in such a way as to minimise the risk of UCITS' or clients' interests being prejudiced by conflicts of interest between the company and its clients, between one of its clients and another, between one of its clients and a UCITS orand between two UCITS. Nevertheless, where a branch is set up, the organisational arrangements may not conflict with the rules of conduct laid down by the UCITS host Member State to cover conflicts of interest.
Amendment 149 #
2008/0153(COD)
Proposal for a directive
Article 12 - paragraph 2 a (new)
Article 12 - paragraph 2 a (new)
2a. Management companies shall set up appropriate procedures and arrangements to ensure that they properly deal with investor complaints, and that there are no restriction for investors to exercise their rights in case the management company is located in another jurisdiction. Investors should be able to file complaints in their local language.
Amendment 150 #
2008/0153(COD)
Proposal for a directive
Article 12 - paragraph 2 b (new)
Article 12 - paragraph 2 b (new)
2b. The Commission shall adopt implementing measures specifying procedures and arrangements set out in point (a) of paragraph 1and the structures and organizational requirements to minimize conflicts of interests set out in point (b) of paragraph. Those measures, designed to amend non- essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 107(2).
Amendment 151 #
2008/0153(COD)
Proposal for a directive
Article 13 - paragraph 1 - introductory part
Article 13 - paragraph 1 - introductory part
1. If Member States shall permit management companies to delegate to third parties, for the purpose of a more efficient conduct of the companies' business, to carry out on their behalf one or more of their own functions,; The delegation shall be subject to all of the following preconditions shall be complied with:
Amendment 153 #
2008/0153(COD)
Proposal for a directive
Article 13 - paragraph 1 - point a
Article 13 - paragraph 1 - point a
(a) the competent authority must be informed in an appropriate manneries of the management company's home Member State must be informed in an appropriate manner; where applicable, the competent authorities of the management company's home Member State shall transmit the information to the competent authorities of the UCITS home Member State;
Amendment 158 #
2008/0153(COD)
Proposal for a directive
Article 13 - paragraph 2 a (new)
Article 13 - paragraph 2 a (new)
2a. The Commission, in accordance with the procedure set out in article 107 (3), shall adopt implementing measures with respect to points (a) and (b) of paragraph 1.
Amendment 159 #
2008/0153(COD)
Proposal for a directive
Article 14 - paragraph 1 a (new)
Article 14 - paragraph 1 a (new)
1a. The Commission shall adopt implementing measures, with a view to ensuring that the management company complies with the duties set out in paragraph 1, in particular to: (a) define the steps that management companies might reasonably be expected to take to identify, prevent, manage and/or disclose conflicts of interest as well as to establish appropriate criteria for determining the types of conflicts of interest whose existence may damage the interests of the UCITS; (b) establish appropriate criteria for acting honestly and fairly and with due skill, care and diligence in the best interests of the UCITS; Those measures, designed to amend non- essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 107(2).
Amendment 161 #
2008/0153(COD)
Proposal for a directive
Article 15 - paragraph 2 a (new)
Article 15 - paragraph 2 a (new)
2a. Subject to the conditions set out in this Article, a UCITS shall be free to designate, or to be managed by, a management company authorized in another Member State in accordance with this Directive, provided that such a management company fulfils the following criteria: a) it complies with the provisions of Article 16 or Article 17; b) it complies with the provisions of Article 17a and Article 5a.
Amendment 163 #
2008/0153(COD)
Proposal for a directive
Article 15 - paragraph 2 a (new)
Article 15 - paragraph 2 a (new)
2a. If the management company of a common fund is not established in the UCITS home Member State, it should appoint a depositary or a financial institution subject to prudential supervision established in that State, including through a branch, to act as a local point of contact for investors and the competent authority of the UCITS home Member State .
Amendment 164 #
2008/0153(COD)
Proposal for a directive
Article 15 - paragraph 2 b (new)
Article 15 - paragraph 2 b (new)
2b. The local point of contact should perform the following functions: (a) provide a contact point for unit- holders, including receipt of complaints; (b) provide a legal address for receipt of all documents addressed to the UCITS and the management company by investors and by the competent authority of UCITS home Member State; (c) provide facilities to the unit-holders in relation to the exercise of their rights, including facilities in relation to payments to unit-holders and to the reception and transmission of orders for subscriptions, issuance and redemption of units; (d) make information available at the request of the public or the competent authority of the UCITS home Member State.
Amendment 165 #
2008/0153(COD)
Proposal for a directive
Article 15 - paragraph 2 c (new)
Article 15 - paragraph 2 c (new)
2c. The appointment of the local point of contact in no case shall not affect the management company’s and the depositary’s liability.
Amendment 166 #
2008/0153(COD)
Proposal for a directive
Article 16 - paragraph 1
Article 16 - paragraph 1
1. In addition to meeting the conditions imposed in Articles 6 and 7, any management company wishing to establish a branch within the territory of another Member State to carry on the activity for which it has been authorised shall notify the competent authorities of its home Member State.
Amendment 167 #
2008/0153(COD)
Proposal for a directive
Article 16 - paragraph 3 - subparagraph 2 a (new)
Article 16 - paragraph 3 - subparagraph 2 a (new)
Where a management company wishes to carry out the service of collective portfolio management as referred to in Annex II, the competent authorities of the management company's home Member State shall attach to the documentation an attestation that the management company has been authorised in accordance with this Directive and a description of the scope of the management company's authorisation and details of any restriction on the types of UCITS that the management company is authorised to manage.
Amendment 168 #
2008/0153(COD)
Proposal for a directive
Article 16 - paragraph 3 a (new)
Article 16 - paragraph 3 a (new)
3a. The services provided by a branch of a management company shall comply with the rules drawn up by the management company’s host Member State in accordance with Article 14.
Amendment 169 #
2008/0153(COD)
Proposal for a directive
Article 16 - paragraph 3 b (new)
Article 16 - paragraph 3 b (new)
3b. The competent authorities of the management company’s host Member State are responsible for supervising compliance with the rules referred to in paragraph 3a.
Amendment 171 #
2008/0153(COD)
Proposal for a directive
Article 16 - paragraph 7 - subparagraph 1 a (new)
Article 16 - paragraph 7 - subparagraph 1 a (new)
The competent authority of the management company's home Member State shall update the information contained in the attestation referred to in paragraph 3 and inform the competent authorities of the management company's host Member State whenever there is a change in the scope of the management company’s authorisation or in the details of any restriction on the types of UCITS that the management company is authorised to manage.
Amendment 172 #
2008/0153(COD)
Proposal for a directive
Article 17 - paragraph 1 - introductory part
Article 17 - paragraph 1 - introductory part
1. Any management company wishing to carry on businessthe activities for which it has been authorised within the territory of another Member State for the first time under the freedom to provide services shall communicate the following information to the competent authorities of the management company's home Member State:
Amendment 174 #
2008/0153(COD)
Proposal for a directive
Article 17 - paragraph 2 - subparagraph 3 a (new)
Article 17 - paragraph 2 - subparagraph 3 a (new)
Where a management company wishes to carry out the service of collective portfolio management as referred to in Annex II, the competent authorities of the management company's home Member State shall enclose to the documentation an attestation that the management company has been authorised in accordance with this Directive and a description of the scope of the management company's authorisation and details of any restriction on the types of UCITS that the management company is authorised to manage.
Amendment 175 #
2008/0153(COD)
Proposal for a directive
Article 17 - paragraph 3
Article 17 - paragraph 3
3. When appropriate, the competent authorities of the management company's host Member State shall, on receipt of the information referred to in paragraph 1, indicate to the management company the conditions, including the rules of conduct to be respected in the case of provision of the portfolio management service mentioned in Article 6 (3) (a) and of investment advisory services and custody, with which, in the interest of the general good, the management company must comply in the the management company's host Member StateThe services provided by the management company under the freedom to provide services shall comply with the rules drawn up by the management company’s home Member State in accordance with Article 14.
Amendment 176 #
2008/0153(COD)
Proposal for a directive
Article 17 - paragraph 4
Article 17 - paragraph 4
4. Should the content of the information communicated in accordance with paragraphArticle 1(b) be amended, the management company shall give notice of the amendment in writing to the competent authorities of the management company's home Member State and of the management company's host Member State before implementing the change, so that t. The competent authorities of the management company's hostme Member State may, if necessary, inform the company of any change or addition to be made to the information communicated under paragraph 3shall update the information contained in the attestation referred to in paragraph 2 and inform the competent authorities of the management company's host Member State whenever there is a change in the scope of the management company’s authorisation or in the details of any restriction on the types of UCITS that the management company is authorised to manage.
Amendment 178 #
2008/0153(COD)
Proposal for a directive
Article 17 a (new)
Article 17 a (new)
Amendment 179 #
2008/0153(COD)
Proposal for a directive
Article 17 a (new)
Article 17 a (new)
Amendment 181 #
2008/0153(COD)
Proposal for a directive
Article 18 −paragraph 2− − subparagraph 2
Article 18 −paragraph 2− − subparagraph 2
Management company's host Member States may require management companies, carrying on business within their territories under the freedom to provide services or through the establishment of a branch, to provide them with the information necessary for the monitoring of their compliance with the standards set byrules under responsibility of the management company'’s host Member State that apply to them, although tincluding information regarding transactions concerning the investments of the UCITS. Those requirements may not be more stringent than those which the same Member State imposes on established management companies authorised in that Member State for the monitoring of their compliance with the same standards.
Amendment 182 #
2008/0153(COD)
Proposal for a directive
Article 18 −paragraph 3
Article 18 −paragraph 3
3. Where the competent authorities of a management company's host Member State ascertain that a management company that has a branch or provides services within its territory is in breach of the legal or regulatory provisions adopted in that State pursuant to those provisions of this Directive which confer powers on the management company's host Member State's competent authoritiesone of the rules under their responsibility, those authorities shall require the management company concerned to put an end to its irregular situation and inform the competent authorities of the management company's home Member State.
Amendment 183 #
2008/0153(COD)
Proposal for a directive
Article 18 −paragraph 5
Article 18 −paragraph 5
5. If, despite the measures taken by the management company's home Member State or because such measures prove inadequate or are not available in the Member State in question, the management company persists in breaching the legal or regulatory provisions referred to in paragraph 2 in force in the management company's host Member State, the latter may, after informing the competent authorities of the management company's home Member State, take appropriate measures, including those referred to in Articles 93 and 94, to prevent or to penalise further irregularities and, insofar as necessary, to prevent that management company from initiating any further transaction within its territory. Member States shall ensure that within their territories it is possible to serve the legal documents necessary for those measures on management companies. Where the service provided within the management company’s host Member State is the management of a UCITS, the management company’s host Member State may require the management company to cease managing this UCITS.
Amendment 185 #
2008/0153(COD)
Proposal for a directive
Article 18 −paragraph 7
Article 18 −paragraph 7
7. Any measure adopted pursuant to paragraphs 4, 5 or 6 and 5 involving penalties or restrictions on the activities of a management companymeasures or penalties shall be properly justified and communicated to the management company concerned. Every such measure shall be subject to the right to apply to the courts in the Member State which adopted it.
Amendment 186 #
2008/0153(COD)
Proposal for a directive
Article 18 −paragraph 9 −subparagraph 1
Article 18 −paragraph 9 −subparagraph 1
9. In the event of the withdrawal of authorisation, the competentThe competent authorities of the management company’s home Member State shall consult the competent authorities of the UCITS home Member State before withdrawing the authoritiessation of the management company's host Member State shall be informed and shall take appropriate measures to. In such cases, the competent authorities of the UCITS home Member State shall take appropriate measures to safeguard investors' interests. Those measures can include decisions preventing the management company concerned from initiating any further transactions within its territory and to safeguard investors' interests.
Amendment 188 #
2008/0153(COD)
Proposal for a directive
Article 20 −paragraph 2
Article 20 −paragraph 2
2. A depositary shall be an institution which is subject to public controlrudential regulation and on-going supervision. It shall also furnish sufficient financial and professional guarantees to be able effectively to pursue its business as depositary and meet the commitments inherent in that function.
Amendment 189 #
2008/0153(COD)
Proposal for a directive
Article 20 - paragraph 3 a (new)
Article 20 - paragraph 3 a (new)
3a. The depositary shall establish procedures that enable the competent authorities of the UCITS home Member State to obtain on request all information, which the depositary has obtained while discharging its duties, and which are necessary for the competent authorities to supervise compliance of the UCITS with the requirements under this Directive.
Amendment 191 #
2008/0153(COD)
Proposal for a directive
Article 20 - paragraph 3 b (new)
Article 20 - paragraph 3 b (new)
3b. If the management company’s home Member State is not the UCITS home Member State, the depositary shall sign a written agreement with the management company regulating the flow of information deemed necessary to allow it to perform the functions referred to in Article 19 and in other laws, regulations and administrative provisions which are relevant for depositaries in the UCITS home Member State.
Amendment 192 #
2008/0153(COD)
Proposal for a directive
Article 20 - paragraph 3 c (new)
Article 20 - paragraph 3 c (new)
3c. The Commission shall adopt implementing measures on the measures to be taken by a depositary in order to fulfil its duties regarding a UCITS managed by a management company situated in another Member State, including the particulars that need to be included in the standard agreements to be used by the depositary and the management company as referred to in paragraph 3a. Those measures, designed to amend non- essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 107(2).
Amendment 193 #
2008/0153(COD)
Proposal for a directive
Article 26 – paragraph 2
Article 26 – paragraph 2
2. AIn appliccase the investment company has not designated a management company, the investment companty shall be informed, within six months of the submission of a complete application, whether or not authorisation has been granted. Reasons shall be given whenever an authorisation is refused.
Amendment 194 #
2008/0153(COD)
Proposal for a directive
Article 30 – paragraph 2
Article 30 – paragraph 2
2. A depositary shall be an institution which is subject to public control. It shall also furnish sufficient financial and professional guarantees to be able effectively to pursue its business as depositary and meet the commitments inherent in that functrudential regulation and on-going supervision.
Amendment 196 #
2008/0153(COD)
Proposal for a directive
Article 30 – paragraph 3 a (new)
Article 30 – paragraph 3 a (new)
3a. The depositary shall establish procedures that enable the competent authorities of the UCITS home Member State to obtain on request all information, which the depositary has obtained while discharging its duties, and which are necessary for the competent authorities to supervise compliance of the UCITS with the requirements under this Directive.
Amendment 197 #
2008/0153(COD)
Proposal for a directive
Article 30 – paragraph 3 b (new)
Article 30 – paragraph 3 b (new)
Amendment 198 #
2008/0153(COD)
Proposal for a directive
Article 30 – paragraph 3 c (new)
Article 30 – paragraph 3 c (new)
3c. The Commission shall adopt implementing measures on the measures to be taken by a depositary in order to fulfil its duties regarding a UCITS managed by a management company situated in another Member state, including the particulars that need to be included in the standard agreements to be used by the depositary and the management company as referred to in paragraph 3a.Those measures, designed to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 107(2).
Amendment 199 #
2008/0153(COD)
Proposal for a directive
Article 34 – paragraph 1 – introductory part
Article 34 – paragraph 1 – introductory part
Amendment 200 #
2008/0153(COD)
Proposal for a directive
Article 35
Article 35
1. Member States shall, subject to the conditions set out in this SectionChapter and irrespective of the manner in which UCITS are constituted as set out in Article 1(3), allow for mergers between: (a) UCITS established within their territories; (b) UCITS established within their territories and UCITS established within the territories of othercross border mergers and domestic mergers as defined in this Article in accordance with one or more of the merger techniques provided for under Article 34. 2. For the purpose of this Directive a cross border merger shall mean: (a) a merger of UCITS of which at least two are established in different Member States; and (b) a merger of UCITS established in the same Member State into a newly constituted UCITS established in another Member State. The merger techniques used for cross border mergers must be allowed for under the laws of the merging UCITS home Member State. 3. For the purpose of this Directive, a domestic merger shall mean a merger of UCITS established in the same Member State when at least one of the involved UCITS has been notified pursuant to article 88. The merger techniques used for domestic mergers must be allowed for under the laws of that Member States. .
Amendment 202 #
2008/0153(COD)
Proposal for a directive
Article 36 – paragraph 2 – point a
Article 36 – paragraph 2 – point a
(a) the common draft terms of the proposed merger duly approved by the competent management or administrative body of the merging UCITS and the receiving UCITS;
Amendment 204 #
2008/0153(COD)
Proposal for a directive
Article 36 – paragraph 2 – point d
Article 36 – paragraph 2 – point d
(d) the information on the proposed merger ithat the merging UCITS and the receiving UCITS intends to provide to itstheir respective unit-holders.
Amendment 205 #
2008/0153(COD)
Proposal for a directive
Article 36 – paragraph 2 – subparagraph 1 a (new)
Article 36 – paragraph 2 – subparagraph 1 a (new)
This information shall be provided so that both the competent authorities of the merging UCITS home Member State and the competent authorities of the receiving UCITS home Member State can read them in the official language or one of the official languages of the relevant Member State, or in a language approved by the relevant competent authorities.
Amendment 206 #
2008/0153(COD)
Proposal for a directive
Article 36 – paragraph 3 – subparagraph 1
Article 36 – paragraph 3 – subparagraph 1
3. The competent authorities of the merging UCITS home Member State shall consider the potential impact of the proposed merger on unit-holders of both the merging UCITS and the receiving UCITS and when doing so, shall consultshall immediately transmit copies of the information referred to in paragraph 2 to the competent authorities of the receiving UCITS. The competent authorities of the merging UCITS home Member State and the competent authorities of the receiving UCITS home Member State unless theyshall, respectively, consider that the potential impact of the proposed merger on the unit-holders of the receiving UCITS is negligible. merging UCITS and the receiving UCITS to assess whether appropriate information is provided to unit-holders.
Amendment 207 #
2008/0153(COD)
Proposal for a directive
Article 36 – paragraph 3 – subparagraph 2
Article 36 – paragraph 3 – subparagraph 2
If the competent authorities of the merging or receiving UCITS home Member State consider it necessary, they may require that the information to unit-holders of the merg, respectively, the merging or the receiving UCITS be clarified.
Amendment 209 #
2008/0153(COD)
Proposal for a directive
Article 36 – paragraph 4 – point c
Article 36 – paragraph 4 – point c
(c) after having considered the potential impact of the proposed merger on unit- holders in accordance with paragraph 3, the competent authorities arethe competent authorities of the merging and the receiving UCITS are, respectively, satisfied with the proposed information to be provided to unit-holders, of the merging UCITS, and where applicable, of the receiving UCITSr no indication of dissatisfaction from the competent authority of the receiving UCITS has been received under sub- paragraph 3 of paragraph (3).
Amendment 211 #
2008/0153(COD)
Proposal for a directive
Article 37 – paragraph 1 – subparagraph 1
Article 37 – paragraph 1 – subparagraph 1
1. Member States shall require that the management or administrative body of the merging UCITS and of the receiving UCITS draw up common draft terms of merger.
Amendment 212 #
2008/0153(COD)
Proposal for a directive
Article 37 – paragraph 1 – subparagraph 2 – introductory wording
Article 37 – paragraph 1 – subparagraph 2 – introductory wording
The common draft terms of merger shall includeset out the following particulars:
Amendment 213 #
2008/0153(COD)
Proposal for a directive
Article 37 – paragraph 1 – subparagraph 2 – point d
Article 37 – paragraph 1 – subparagraph 2 – point d
(d) the criteria adopted for valuation of the assets and, where applicable, the liabilities on the planned effective date of the merger in accordance with Article 44(1);
Amendment 214 #
2008/0153(COD)
Proposal for a directive
Article 37 – paragraph 1 – subparagraph 2 – point f a (new)
Article 37 – paragraph 1 – subparagraph 2 – point f a (new)
(fa) the rules applicable for respectively the transfer of assets and the exchange of units;
Amendment 215 #
2008/0153(COD)
Proposal for a directive
Article 37 – paragraph 1 – subparagraph 2 – point g
Article 37 – paragraph 1 – subparagraph 2 – point g
(g) in the case of a merger pursuant to Article 34 (b), the fund rules or instruments of incorporation of the newly constituted receiving UCITS.
Amendment 217 #
2008/0153(COD)
Proposal for a directive
Article 38
Article 38
Member States shall require that the depositaries of the merging UCITS and of the receiving UCITS verify the conformity of the common draft terms of mergerelements set out in points (a),( f) and (g) Article 37(1) with this Directive and the fund rules or instruments of incorporation of their respective UCITS.
Amendment 224 #
2008/0153(COD)
Proposal for a directive
Article 40 – paragraph 1
Article 40 – paragraph 1
1. Member States shall require the merging and receiving UCITS to provide appropriate and accurate information on the proposed merger to its or theirtheir respective unit-holders so as to enable their respective unit-holders to make an informed decisionjudgement of the impact of the proposal on their investment.
Amendment 226 #
2008/0153(COD)
Proposal for a directive
Article 40 – paragraph 3 – subparagraph 1
Article 40 – paragraph 3 – subparagraph 1
3. The information shall be provided to unit-holders of the merging UCITS and of the receiving UCITS only after the competent authorities of the merging UCITS home Member State have authorised the proposed merger under Article 36.
Amendment 227 #
2008/0153(COD)
Proposal for a directive
Article 40 – paragraph 3 – subparagraph 2
Article 40 – paragraph 3 – subparagraph 2
It shall be provided not less than 30 days before the date of the general meeting of unit-holders as referred to in Article 41 or, if no such general meeting of unit- holders is provided for under national law, not less than 30 days before the proposed effective date of the mergerlast date for requesting repurchase or redemption without additional charge referred to in Article 44.
Amendment 229 #
2008/0153(COD)
Proposal for a directive
Article 40 – paragraph 4 – subparagraph 2 –introductory wording
Article 40 – paragraph 4 – subparagraph 2 –introductory wording
It shall include at least the following:
Amendment 230 #
2008/0153(COD)
Proposal for a directive
Article 40 – paragraph 4 – subparagraph 2 – point a
Article 40 – paragraph 4 – subparagraph 2 – point a
(a) the background to and the rationale ofor the proposed merger;
Amendment 232 #
2008/0153(COD)
Proposal for a directive
Article 40 – paragraph 4 – subparagraph 2 – point b
Article 40 – paragraph 4 – subparagraph 2 – point b
(b) the possible impact of the proposed merger on unit-holders, including but not limited to any material differences in respect of investment policy and strategy, costs, expected outcome, periodic reporting and, possible dilution in performance, and tax treatment;
Amendment 233 #
2008/0153(COD)
Proposal for a directive
Article 40 – paragraph 4 – subparagraph 2 – point c
Article 40 – paragraph 4 – subparagraph 2 – point c
(c) any specific rights unit-holders have in relation to the proposed merger, including but not limited to the right to obtain additional information, the right to obtain a copy of the report of the independent auditor or the depositary on request, and the right to request the repurchase or redemption of their units without charge as specified in Article 42 and the last date for exerting that right;
Amendment 234 #
2008/0153(COD)
Proposal for a directive
Article 40 – paragraph 5
Article 40 – paragraph 5
5. If the merging UCITS and, where applicable,or the receiving UCITS, hasve been notified in accordance with Article 88, the information referred to in paragraph 4 shall be provided in the official language, or one of the official languages, of the merging UCITS host Member State and, where applicable the receivingrelevant UCITS host Member State, or in a language approved by theirits competent authorities. The translation shall be produced under the responsibility of the UCITS required to provide the information. It shall faithfully reflect the content of the original information.
Amendment 235 #
2008/0153(COD)
Proposal for a directive
Article 41 – paragraph 2
Article 41 – paragraph 2
The first paragraph shall be without prejudice to any presence quorum provided for under national laws. Where applicable, Member States shall not impose more stringent presence quora for cross border mergers than for domestic mergers. Nor shall they impose more stringent presence quora for UCITS mergers than for mergers of corporate entities.
Amendment 238 #
2008/0153(COD)
Proposal for a directive
Article 42 – paragraph 2
Article 42 – paragraph 2
2. FWithout prejudice to the provisions of paragraph 1, for mergers between UCITS, by way of derogation from Article 79(1), Member States may allow the competent authorities to require or to allow the temporary suspension of the subscription, repurchase or redemption of units provided that such suspension is justified for the protection of the unit- holders.
Amendment 240 #
2008/0153(COD)
Proposal for a directive
Article 44 – paragraph 1
Article 44 – paragraph 1
1. Member States shall provide that the merger shall take effect as soon as alla procedure validating the completion of transfer of assets, and wheren applicable, all liabilities, haves been transferred from the merging UCITS to the receiving UCITS and unit- holders established between the depositary and the management company of the receiving fund, including the merging UCITS have received units in the receiving UCITS in exchange for their units in the merging UCITSanagement of open items. Both parties shall decide on the entry into effect of the merger according to this procedure.
Amendment 241 #
2008/0153(COD)
Proposal for a directive
Article 44 – paragraph 1
Article 44 – paragraph 1
1. Member States shall provide that theFor domestic mergers, the laws of the Member States shall determine the date on which a merger shall takes effect as soon as all assets, and where applicable, all liabilities have been transferred fromwell as the date for calculating the ratio for exchange of units of the merging UCITS into units of the receiving UCITS and unit- holders in the merging UCITS have received units in the receiving UCITS in exchange for their units in the merging UCITS, where applicable, for determining the relevant net asset value for cash payments. For cross border mergers, the laws of the receiving UCITS home Member State shall determine the dates referred to in the first subparagraph.
Amendment 242 #
2008/0153(COD)
Proposal for a directive
Article 44 – paragraph 2
Article 44 – paragraph 2
Amendment 243 #
2008/0153(COD)
Proposal for a directive
Article 44 – paragraph 2
Article 44 – paragraph 2
2. TheEach depositariesy of the merging UCITS and the receiving UCITS shall be responsible for the actual transfer of assets from the merging UCITS to the receiving UCITS, on the basis of the certified position of the merging UCITS established prior to the merger.
Amendment 244 #
2008/0153(COD)
Proposal for a directive
Article 44 – paragraph 2 a (new)
Article 44 – paragraph 2 a (new)
Amendment 245 #
2008/0153(COD)
Proposal for a directive
Article 44 – paragraph 3
Article 44 – paragraph 3
3. The entry into effect of the merger shall be made public through all appropriate means in the manner prescribed by the laws of the receiving UCITS home Member State, and notified to the competent authorities.
Amendment 246 #
2008/0153(COD)
Proposal for a directive
Article 44 – paragraph 4
Article 44 – paragraph 4
Amendment 247 #
2008/0153(COD)
Proposal for a directive
Article 44 a (new)
Article 44 a (new)
Article 44a 1. A merger carried out as laid down in point (a) of Article 34 shall have the following consequences: (a) all the assets and liabilities of the merging UCITS shall be transferred to the receiving UCITS or, where applicable, the depositary of the receiving UCITS; (b) the unit-holders of the merging UCITS shall become unit-holders of the receiving UCITS; in addition, if applicable, they are entitled to a cash payment not exceeding 10% of the net asset value of their units in the merging UCITS; (c) the merging UCITS shall cease to exist with the entry into effect of the merger. 2. A merger carried out as laid down in point (b) of Article 34 shall have the following consequences: (a) all the assets and liabilities of the merging UCITS shall be transferred to the newly constituted receiving UCITS or, where applicable, the depositary of the receiving UCITS; (b) the unit-holders of the merging UCITS shall become unit-holders of the newly constituted receiving UCITS; in addition, if applicable, they are entitled to a cash payment not exceeding 10% of the net asset value of their units in the merging UCITS; (c) the merging UCITS shall cease to exist with the entry into effect of the merger. 3. A merger carried out as laid down in point (c) of Article 34 shall have the following consequences: (a) the [net] assets of the merging UCITS shall be transferred to the receiving UCITS or, where applicable, the depositary of the receiving UCITS; (b) the unit-holders of the merging UCITS shall become unit-holders of the receiving UCITS; (c) the merging UCITS continues to exist until all remaining outstanding liabilities have been discharged. 4. Member States shall provide that a procedure is established, whereby the management company of the receiving UCITS confirms to the depositary of the receiving UCITS that transfer of assets and, where applicable, liabilities is complete. Where the receiving UCITS has not designated a management company, it will give that confirmation to the depositary of the receiving UCITS.
Amendment 251 #
2008/0153(COD)
Proposal for a directive
Article 46 – paragraph 4
Article 46 – paragraph 4
4. Member States shall inform the Commission on their regulation concerning the methods used to calculate the risk exposures mentioned inThe Commission shall adopt implementing measures specifying the following: - criteria for assessing the adequacy of risk management process employed by the management company in accordance with paragraph 31, including the risk exposure to a counterparty in OTC derivative transactions. The Commission shall forwardfirst sentence above; - detailed rules regarding the accurate and independent assessment of the value of OTC derivatives; - detailed rules regarding the content and the procedure to be followed for communicating thate information to the other Member States. Such information shall be the subject of exchanges of views within the European Securities Committeemanagement company home Member States' competent authorities referred to in paragraph 1 third sentence above ; Those measures, designed to amend non- essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 107(2).
Amendment 252 #
2008/0153(COD)
Proposal for a directive
Article 53 – paragraph 1
Article 53 – paragraph 1
1. A feeder UCITS is a UCITS whichor an investment compartments thereof, which has been approved to invests, by way of derogation from Article 1(2)(a), Article 45, Article 47, Article 50 and Article 51(2)(c), at least 85 % of its assets in units of another UCITS ("the master UCITS") or an investment compartment thereof ("the master UCITS").
Amendment 255 #
2008/0153(COD)
Proposal for a directive
Article 53 – paragraph 2 – subparagraph 2
Article 53 – paragraph 2 – subparagraph 2
For the purposes of point (b) of the first subparagraph, the exposure of the feeder UCITS to the underlying assets as referred to in the third subparagraph of Article 46(3) shall be calculated by also taking into account the investments ofcompliance with Article 46(3), the feeder UCITS may calculate its global exposure related to financial derivative instruments by combining its own direct exposure under point (b) of the first subparagraph with: - either the master UCITS' actual exposure to financial derivative instruments in proportion to the mastfeeder UCITS,' including the investments of the master UCITS into financial derivative instruments and their underlyings,vestment into the master UCITS; or - the master UCITS potential maximum global exposure to financial derivative instruments provided for in the master UCITS' fund rules or instruments of incorporation in proportion to the feeder UCITS investment into the master UCITS.
Amendment 256 #
2008/0153(COD)
Proposal for a directive
Article 53 – paragraph 3 – introductory part
Article 53 – paragraph 3 – introductory part
3. A master UCITS is a UCITS or an investment compartment thereof which:
Amendment 257 #
2008/0153(COD)
Proposal for a directive
Article 53 – paragraph 3 – point a
Article 53 – paragraph 3 – point a
(a) must have among its unit-holders at least one feeder UCITS as unit-holder;
Amendment 258 #
2008/0153(COD)
Proposal for a directive
Article 54 – paragraph 1
Article 54 – paragraph 1
1. Member States shall ensure that the investment of a feeder UCITS into a given master UCITS which exceeds the limit applicable under Article 50(1) for investments into other UCITS be subject to prior approval by the competent authorities of the feeder UCITS' home Member State.
Amendment 259 #
2008/0153(COD)
Proposal for a directive
Article 54 – paragraph 2
Article 54 – paragraph 2
2. If the feeder UCITS already carried on activities as a UCITS, including as a feeder UCITS of a different master UCITS, tThe feeder UCITS shall be informed within at the latest 15 working days following the submission of a complete file, whether or not the competent authorities approved the feeder UCITS' investment into the master UCITS.
Amendment 260 #
2008/0153(COD)
Proposal for a directive
Article 54 – paragraph 3 – introductory part
Article 54 – paragraph 3 – introductory part
3. In the event that the feeder UCITS and the master UCITS are established in the same Member State, the competent authorities of thatThe competent authorities of the feeder UCITS home Member State shall grant approval if the feeder UCITS, its depositary and its auditor, as well as the master UCITS, comply with all the requirements set out in this Chapter. For such purpose, the feeder UCITS shall provide to the competent authorities of its home Member State the following documents:
Amendment 261 #
2008/0153(COD)
Proposal for a directive
Article 54 – paragraph 3 – point c
Article 54 – paragraph 3 – point c
(c) the agreement between the feeder UCITS and the master UCITS or the internal conduct of business rules referred to in Article 55(1);
Amendment 262 #
2008/0153(COD)
Proposal for a directive
Article 54 – paragraph 3 – point e
Article 54 – paragraph 3 – point e
Amendment 264 #
2008/0153(COD)
Proposal for a directive
Article 54 – paragraph 3 – point g
Article 54 – paragraph 3 – point g
(g) in the event thatf the master UCITS and the feeder UCITS have different auditors, the information-sharing agreement referred to in Article 57(1) between their respective auditors.
Amendment 266 #
2008/0153(COD)
Proposal for a directive
Article 54 – paragraph 4 – subparagraph 1
Article 54 – paragraph 4 – subparagraph 1
4. When the feeder UCITS is established in another Member State than the master UCITS, the competent authorities of the feeder UCITS' home Member State shall grant approval provided the following conditions are met: (a)feeder UCITS shall also provide an attestation by the competent authorities of the master UCITS that the feedmaster UCITS, its depositarya UCITS, or and its auditor comply with all the requirements set out in this Chapter and the feeder UCITS for such purpose submits the documents referred to in paragraph 3 of this Article; (b) the feeder UCITS demonstrates that the master UCITS is duly authorised as a UCITS, that it is not itself a feeder UCITS and does not hold any units of a feeder UCITSnvestment compartment thereof, which fulfils the conditions set out in point (b) and (c) of Article 53(3). Documents shall be provided by the feeder UCITS in the official language, or one of the official languages, of the feeder UCITS home Member State or in a language approved by its competent authorities.
Amendment 268 #
2008/0153(COD)
Proposal for a directive
Article 55 – paragraph 1 – subparagraph 1
Article 55 – paragraph 1 – subparagraph 1
1. Member States shall require the feeder UCITS to enter into an agreement withat the master UCITS provide the mastfeeder UCITS concernewith all documents and in forder to enable the feeder UCITSmation necessary for the latter to meet the requirements laid down in this Directive. For this purpose, the feeder UCITS shall enter into an agreement with the master UCITS.
Amendment 273 #
2008/0153(COD)
Proposal for a directive
Article 55 – paragraph 1 – subparagraph 3
Article 55 – paragraph 1 – subparagraph 3
The feeder UCITS shall not invest in units of that master UCITS until the agreement referred to in subparagraph 1 has become effective. This agreement shall be available, on request and without charges, to all unit-holders.
Amendment 274 #
2008/0153(COD)
Proposal for a directive
Article 55 – paragraph 1 a (new)
Article 55 – paragraph 1 a (new)
1a. In the event that both master and feeder UCITS are managed by the same management company or administrative body, the agreement may be replaced by internal conduct of business rules ensuring compliance with the requirements set out in paragraph 1.
Amendment 282 #
2008/0153(COD)
Proposal for a directive
Article 56 – paragraph 1 – subparagraph 2 a (new)
Article 56 – paragraph 1 – subparagraph 2 a (new)
Neither the depositary of the master UCITS nor that of the feeder UCITS, when complying with the requirements laid down in this Chapter, shall be in breach of any restriction on disclosure of information or of data protection imposed by contract or by any legislative, regulatory or administrative provision nor shall such behaviour involve such depositary or any person acting on its behalf in liability of any kind.
Amendment 283 #
2008/0153(COD)
Proposal for a directive
Article 56 – paragraph 1 – subparagraph 2 b (new)
Article 56 – paragraph 1 – subparagraph 2 b (new)
Member States shall require that the feeder UCITS or, when applicable, the management company of the feeder UCITS shall be in charge of communicating to the depositary of the feeder UCITS any information about the master UCITS and required for the completion of the duties of the depositary of the feeder UCITS.
Amendment 286 #
2008/0153(COD)
Proposal for a directive
Article 57 – paragraph 1 – subparagraph 1
Article 57 – paragraph 1 – subparagraph 1
1. Member States shall require that, if the master UCITS and the feeder UCITS have different auditors, these auditors enter into an information-sharing agreement in order to ensure the fulfilment of the duties of both auditors, including the arrangements taken to comply with the requirements of paragraph 2.
Amendment 287 #
2008/0153(COD)
Proposal for a directive
Article 57 – paragraph 2 – subparagraph 1
Article 57 – paragraph 2 – subparagraph 1
2. In its audit report, the auditor of the feeder UCITS shall take into account the audit report of the master UCITS. If the feeder UCITS and the master UCITS do not have the same accounting year, the auditor of the master UCITS shall make an ad hoc report on the same closing date as the closing date of the feeder UCITS.
Amendment 288 #
2008/0153(COD)
Proposal for a directive
Article 57 – paragraph 2 a (new)
Article 57 – paragraph 2 a (new)
2a. Neither the auditor of the master UCITS nor that of the feeder UCITS, when complying with the requirements laid down in this Chapter, shall be in breach of any restriction on disclosure of information or of data protection imposed by contract or by any legislative, regulatory or administrative provision nor shall such behaviour involve such auditor or any person acting on its behalf in liability of any kind.
Amendment 290 #
2008/0153(COD)
Proposal for a directive
Article 58 – paragraph 1 – subparagraph 1 – point b
Article 58 – paragraph 1 – subparagraph 1 – point b
(b) onthe investment objective and policy, including the risk profile and whether the performance of the feeder UCITS and the master UCITS are identical, or to what extent and for which reasons they differ, including a description of the investment made in accordance with Article 53(2);
Amendment 291 #
2008/0153(COD)
Proposal for a directive
Article 58 – paragraph 1 – subparagraph 1 – point d
Article 58 – paragraph 1 – subparagraph 1 – point d
Amendment 293 #
2008/0153(COD)
Proposal for a directive
Article 58 – paragraph 1 – subparagraph 1 – point g
Article 58 – paragraph 1 – subparagraph 1 – point g
Amendment 294 #
2008/0153(COD)
Proposal for a directive
Article 58 – paragraph 4
Article 58 – paragraph 4
4. A feeder UCITS shall disclose in any relevant marketing communications that it is a feeder UCITS of a given master UCITS and as such permanently invests 85 % or more of its assets in units of such master UCITS.
Amendment 295 #
2008/0153(COD)
Proposal for a directive
Article 58 – paragraph 4 a (new)
Article 58 – paragraph 4 a (new)
4a. A paper copy of the prospectus, annual and half-yearly report of the master shall be delivered by the feeder UCITS to investors upon their request, free of charge.
Amendment 296 #
2008/0153(COD)
Proposal for a directive
Article 59 – paragraph 1 – subparagraph 1 – point c
Article 59 – paragraph 1 – subparagraph 1 – point c
(c) the date when the feeder UCITS is to start to invest into the master UCITS or, if it has already invested into the master, the date when its investment is to exceed the limit applicable under Article 50(1);
Amendment 297 #
2008/0153(COD)
Proposal for a directive
Article 59 – paragraph 1 – subparagraph 1 – point d
Article 59 – paragraph 1 – subparagraph 1 – point d
(d) a statement that the unit-holders have the right to request the re-purchase or redemption of their units free of chargewithout any other charges than those retained by the fund to cover disinvestment costs within 30 days; this right shall become effective from the moment the feeder UCITS has provided the information referred to in this paragraph.
Amendment 298 #
2008/0153(COD)
Proposal for a directive
Article 59 – paragraph 1 – subparagraph 2
Article 59 – paragraph 1 – subparagraph 2
This information shall be provided not less than 30 days before the date of the feeder UCITS' investment into the master UCITS pursuant toreferred to in point (c) of the first subparagraph.
Amendment 302 #
2008/0153(COD)
Proposal for a directive
Article 62 – paragraph 1
Article 62 – paragraph 1
1. If the master UCITS and the feeder UCITS are established in the same Member State, the competent authorities shall immediately inform the feeder UCITS and, when they deem it necessary, the other unit-holders, of any decision, measure, observation of non-compliance with the conditions of this Chapter or of any information reported pursuant to Article 101(1) with regard to the master UCITS or, where applicable, its management company, depositary or auditor.
Amendment 303 #
2008/0153(COD)
Proposal for a directive
Article 62 – paragraph 2
Article 62 – paragraph 2
2. If the master UCITS and the feeder UCITS are established in different Member States, the competent authorities of the master UCITS' home Member State shall immediately communicate any decision, measure, observation of non-compliance with the conditions of this Chapter or information reported pursuant to Article 101(1) with regard to the master UCITS or, where applicable, its management company, depositary or auditor, to the competent authorities of the feeder UCITS' home Member State. The latter, which shall then immediately inform the feeder UCITS. When those authorities deem it necessary, they shall also immediately communication this information to the other unit-holders.
Amendment 304 #
2008/0153(COD)
Proposal for a directive
Article 69
Article 69
UCITS shall send their prospectus and any amendments thereto, as well as their annual and half-yearly reports, to the competent authorities of the UCITS home Member State. UCITS shall provide this documentation to the competent authorities of the management company’s home Member State on request.
Amendment 305 #
2008/0153(COD)
Proposal for a directive
Article 70 – paragraph 2
Article 70 – paragraph 2
2. The prospectus may be provided in a durable medium or by means of a website. A paper copy shall be provided to the investors on request, free of charge. Or. en The prospectus may be provided in a durable medium or in electronic form. 2.
Amendment 306 #
2008/0153(COD)
Proposal for a directive
Article 70 – paragraph 3
Article 70 – paragraph 3
3. The annual and half-yearly reports shall be available to investors in the manner specified in the prospectus and in the key investor information referred to in Article 73. A paper copy of the annual and half- yearly reports shall be delivered to the investors on request, free of charge.
Amendment 307 #
2008/0153(COD)
Proposal for a directive
Article 72
Article 72
All marketing communications to investors shall be clearly identifiable as such. They shall be fair, clear and not misleading and the inform. In particular, any marketing communications contained therein shall be consistmprising an invitation to purchase units of UCITS that contains specific information about a UCITS shall not make statements withhich contradict or diminish the significance of the information contained in the prospectus and the key investor information referred to in Article 73. TheyIt shall indicate that a prospectus exists and that the key investor information referred to in Article 73 is available and specify where and in which language such information or documents may be obtained by investors or potential investors or how they may have access to them.
Amendment 308 #
2008/0153(COD)
Proposal for a directive
Article 73 – paragraph 1
Article 73 – paragraph 1
1. Member States shall require that an investment company and, for each of the common funds it manages, a management company draw up a short document containing key investor information for investors ( “key investor information”). The words “key investor information” should be clearly mentioned on this document, in the language referred to in point (b) of Article 89(1).
Amendment 309 #
2008/0153(COD)
Proposal for a directive
Article 73 – paragraph 3 – subparagraph 1 – introductory part
Article 73 – paragraph 3 – subparagraph 1 – introductory part
3. Key investor information shall incluprovide information on at least the following essential elements in respect of the UCITS concerned: Or. eenen
Amendment 310 #
2008/0153(COD)
Proposal for a directive
Article 73 – paragraph 3 – point -a (new)
Article 73 – paragraph 3 – point -a (new)
(-a) identification of the UCITS;
Amendment 311 #
2008/0153(COD)
Proposal for a directive
Article 73 – paragraph 3 – point b
Article 73 – paragraph 3 – point b
(b) past performance presentation or, where relevant, performance scenarios;
Amendment 313 #
2008/0153(COD)
Proposal for a directive
Article 73 – paragraph 7 – subparagraph 1 – point a
Article 73 – paragraph 7 – subparagraph 1 – point a
(a) the detailed and exhaustive content of the key investor information to be provided to investors as referred to under paragraphs 2,3 and 4;
Amendment 314 #
2008/0153(COD)
Proposal for a directive
Article 73 – paragraph 7 – subparagraph 1 – point b – introductory part
Article 73 – paragraph 7 – subparagraph 1 – point b – introductory part
(b) the detailed and exhaustive content of the key investor information to be provided to investors in the following specific cases:
Amendment 315 #
2008/0153(COD)
Proposal for a directive
Article 73 – paragraph 7 – subparagraph 1 – point b – point v
Article 73 – paragraph 7 – subparagraph 1 – point b – point v
Amendment 316 #
2008/0153(COD)
Proposal for a directive
Article 73 – paragraph 7 – subparagraph 1 – point b – point vi
Article 73 – paragraph 7 – subparagraph 1 – point b – point vi
(vi) for structured, capital protected and other comparable UCITS, the key investor information to be provided to investors subscribing to structured, capital protected and other comparable UCITS offering a predetermined pay-off at a certain time horizon, entirely depending on certain parameters such as the evolution of a given indexin relation to the special characteristics of such UCITS;
Amendment 318 #
2008/0153(COD)
Proposal for a directive
Article 75 – paragraph 1
Article 75 – paragraph 1
1. Member States shall require that an investment company and, for each of the common funds it manages, a management company, which sells UCITS directly or through a tied agent to investors, delivers to investors, either directly or through their tied agent,nother natural or legal person who acts on its behalf and under its full and unconditional responsibility, provides investors with key investor information on such UCITS in good time before their proposed subscription of units in such UCITS.
Amendment 319 #
2008/0153(COD)
Proposal for a directive
Article 75 – paragraph 2
Article 75 – paragraph 2
2. Member States shall require that an investment company and, for each of the common funds it manages, a management company, which does not sell UCITS directly or through a tied agentperson who acts on its behalf and under its full and unconditional responsibility to investors, deliverprovides key investor information to product manufacturers and intermediaries selling or advising investors on potential investments in such UCITS or in products offering exposure to such UCITS, so as to enable them to provide all relevant information on the proposed investment to their client. Member States shall require that the intermediaries selling or advising investors orn potential cliinvestments, in compliance with any information obligations applicable to them under the relevant Community and national lawUCITS, provide key investor information to their clients or potential clients.
Amendment 323 #
2008/0153(COD)
Proposal for a directive
Article 75 – paragraph 2a (new)
Article 75 – paragraph 2a (new)
2a. Key investor information shall be provided to investors free of charge.
Amendment 325 #
2008/0153(COD)
Proposal for a directive
Article 76 – paragraph 1
Article 76 – paragraph 1
1. Member States shall allow investment companies and, for each of the common funds they manage, management companies, to deliver key investor information in a durable medium or by means of a website. A paper copy shall be delivered free of charge to the investor.
Amendment 326 #
2008/0153(COD)
Proposal for a directive
Article 77 – paragraph 2 – subparagraph 1 a (new)
Article 77 – paragraph 2 – subparagraph 1 a (new)
The Commission shall adopt implementing measures specifying rules on the updating timeframe and ways to provide the update key investor information to investors.
Amendment 329 #
2008/0153(COD)
Proposal for a directive
Article 86 – paragraph 3 a (new)
Article 86 – paragraph 3 a (new)
3a. For the purpose of this Chapter, a UCITS shall mean a UCITS or an investment compartment thereof.
Amendment 330 #
2008/0153(COD)
Proposal for a directive
Article 88 – paragraph 1 – subparagraph 1
Article 88 – paragraph 1 – subparagraph 1
1. If a UCITS proposes to market its units in a Member State other than that in which it is establishedits home Member State, it shall first submit a notification letter to the competent authorities of its home Member State.
Amendment 331 #
2008/0153(COD)
Proposal for a directive
Article 88 – paragraph 1 – subparagraph 2
Article 88 – paragraph 1 – subparagraph 2
The notification letter shall include information on arrangements made for marketing of units of the UCITS in thae host Member State.
Amendment 336 #
2008/0153(COD)
Proposal for a directive
Article 88 – paragraph 4
Article 88 – paragraph 4
4. Member States shall ensure that the notification letter as referred to in paragraph 1 and the attestation as referred to in paragraph 3 are provided in a language customary in the sphere of international finance. , unless the UCITS home Member State and the UCITS host Member State agree to the notification letter as referred to in paragraph 1 and the attestation as referred to in paragraph 3 being provided in an official language of both Member States. Or. en Justification
Amendment 338 #
2008/0153(COD)
Proposal for a directive
Article 88 – paragraph 7
Article 88 – paragraph 7
7. The UCITS home Member State shall ensure that the competent authorities of the UCITS host Member State have access, by electronic means, to the documents referred to in paragraph 2 and, if applicable, to any translations thereof and that those documents and translations are kept up to date. It shall ensure that the UCITS keep those documents and translations up to date. The UCITS shall notify any amendments to the documents referred to in paragraph 2 to the competent authority of the host Member State and indicate where these documents can be obtained electronically.
Amendment 341 #
2008/0153(COD)
Proposal for a directive
Article 92 – paragraph 1
Article 92 – paragraph 1
1. Member States shall designate the competent authorities which are to carry out the duties provided for in this Directive. They shall inform the Commission thereof, indicating any division of duties.
Amendment 342 #
2008/0153(COD)
Proposal for a directive
Article 92 – paragraph 3
Article 92 – paragraph 3
3. The authorities of the UCITS home Member State shall be competent to supervise that UCITS including, where relevant, pursuant to Article 17a. However, the authorities of the UCITS host Member State shall be competent to supervise compliance with the provisions falling outside the field governed by the Directive and requirements set out in Articles 87 and 89.
Amendment 343 #
2008/0153(COD)
Proposal for a directive
Article 93 – paragraph 2 – point j
Article 93 – paragraph 2 – point j
(j) require the suspension of the issue, repurchase or redemption of units in the interest of the unit holders or of the public;
Amendment 344 #
2008/0153(COD)
Proposal for a directive
Article 94 – paragraph 1
Article 94 – paragraph 1
1. Member States shall lay down the rules on measures and penalties applicable to infringements of the national provisions adopted pursuant to this Directive and shall take all measures necessary to ensure that they are implemented. TheWithout prejudice to the procedures for the withdrawal of authorization or to the right of Member States to impose criminal sanctions, Member States shall in particular ensure, in conformity with their national law, that the appropriate administrative measures can be taken or administrative sanctions be imposed against the persons responsible where the provisions adopted in the implementation of this Directive have not been complied with. The measures and penalties provided for must be effective, proportionate and dissuasive. Without precluding rules on measures and penalties applicable to infringements of the other national provisions adopted pursuant to this Directive, Member States shall in particular lay down effective, proportionate and dissuasive measures and penalties concerning the duty to present key investor information in a way that is likely to be understood by retail investors according to Article 73(5).
Amendment 345 #
2008/0153(COD)
Proposal for a directive
Article 94 – paragraph 2
Article 94 – paragraph 2
2. Member States shall provide that the competent authorities may disclose to the public any measure or sanction that will be imposed for infringement of the provisions adopted in the implementation of this Directive, unless such disclosure would seriously jeopardise the financial markets, be detrimental to the interests of investors or cause disproportionate damage to the parties involved.
Amendment 346 #
2008/0153(COD)
Proposal for a directive
Article 96 – paragraph 1 – subparagraph 2
Article 96 – paragraph 1 – subparagraph 2
Member Sstates shall take the necessary administrative and organisational measures to facilitate the cooperation provided for in this paragraphbetween competent authorities, including through bilateral or multilateral agreements, so that they can fully carry out their duties according to this Directive.
Amendment 347 #
2008/0153(COD)
Proposal for a directive
Article 96 – paragraph 2a (new)
Article 96 – paragraph 2a (new)
2a. Where a competent authority has good reasons to suspect that acts contrary to this Directive, carried out by entities not subject to its supervision, are being or have been carried out on the territory of another Member State, it shall notify this in a manner as specific as possible to the competent authority of the other Member State. The latter authority shall take appropriate action. It shall inform the notifying competent authority of the outcome of the action and, to the extent possible, of significant interim developments. This paragraph shall be without prejudice to the competences of the competent authority that has forwarded the information.
Amendment 348 #
2008/0153(COD)
Proposal for a directive
Article 96 – paragraph 8a (new)
Article 96 – paragraph 8a (new)
8a. For the purpose of ensuring adequate supervision of the UCITS, the depositary and the management company Member States shall ensure that the competent authorities have the power to conclude bilateral and multilateral co-operation agreements with other competent authorities of the Member States that may involve mutual delegation of supervisory tasks. Such agreements may involve one or more competent authorities sharing supervision tasks over UCITS which are managed under the freedom to provide services or through branches, depositaries and management companies.
Amendment 351 #
2008/0153(COD)
Proposal for a directive
Article 102 – paragraph 1
Article 102 – paragraph 1
1. The competent authorities shall give reasons for any decision to refuse authorisation, and any negative decision taken in implementation of the general measures adopted in application of this Directive, in writing and communicate them to applicants.
Amendment 353 #
2008/0153(COD)
Proposal for a directive
Article 103 – paragraph 2
Article 103 – paragraph 2
2. Any decision to withdraw authorisation, or any other serious measure taken against a UCITS, or any issue, suspension of re- purchase or redemption imposed upon it, shall be communicated without delay by the authorities of the UCITS home Member State to the authorities of the UCITS host Member States and, if the management company of a UCITS is situated in another Member State, to the competent authorities of the management company’s home Member State.
Amendment 354 #
2008/0153(COD)
Proposal for a directive
Article 103 – paragraph 2 a (new)
Article 103 – paragraph 2 a (new)
2a. The competent authorities of the management company’s home Member State and those of the UCITS home Member State shall, respectively, have the ability to take action against the management company if it infringes rules under their respective responsibility.
Amendment 358 #
2008/0153(COD)
Proposal for a directive
Article 103 – paragraph 5 a (new)
Article 103 – paragraph 5 a (new)
5a. The Commission may adopt implementing measures specifying the modalities for the service of documents by the UCITS home Member State authority in the home Member State of the management company. Those measures, designed to amend non- essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 107(2).
Amendment 359 #
2008/0153(COD)
Proposal for a directive
Article 104 – paragraph 2
Article 104 – paragraph 2
2. Insofar as it is necessary for the purpose of exercising their powers of supervision, the competent authorities of the management company's home Member State shall be informed by the competent authorities of the management company's host Member State of any measures taken by the management company's host Member State pursuant to Article 18 (6) which involve measures and penalties imposed on a management company or restrictions on a management company's activities.
Amendment 360 #
2008/0153(COD)
Proposal for a directive
Article 104 – paragraph 2 a (new)
Article 104 – paragraph 2 a (new)
2a. The competent authorities of the management company's home Member State shall notify, without delay, the competent authority of the UCITS home Member State of any problems identified at the level of the management company and which would affect the ability of the management company to properly perform its duties with respect to the fund and any breaches of the requirements under Chapter III. .
Amendment 361 #
2008/0153(COD)
Proposal for a directive
Article 104 – paragraph 2 b (new)
Article 104 – paragraph 2 b (new)
2b. The competent authorities of the UCITS's home Member State shall notify, without delay, the competent authority of the management company’s home Member State of any problems identified at the level of the UCITS and which may affect the ability of the management company to properly perform its duties and comply with applicable rules.
Amendment 362 #
2008/0153(COD)
Proposal for a directive
Article 111 – paragraph 2 a (new)
Article 111 – paragraph 2 a (new)
References to the simplified prospectus shall be construed as references to the key investor information referred to in Article 73.
Amendment 363 #
2008/0153(COD)
Proposal for a directive
Article 112 – paragraph 1 a (new)
Article 112 – paragraph 1 a (new)
1a. The Commission shall adopt and publish by July 2010 at the latest, the implementing measures as provided by Articles 12, 14, 20, 30, 46 and 73.
Amendment 58 #
2008/0140(CNS)
Proposal for a directive
Title
Title
Proposal for a Council directive on implementing the principle of equal treatment between persons irrespective of religion or belief, disability, age or, sexual orientation or gender
Amendment 60 #
2008/0140(CNS)
Proposal for a directive
Recital 3
Recital 3
(3) This Directive respects and promotes the fundamental rights and observes the fundamental principles recognised in particular by the Charter of Fundamental Rights of the European Union. Article 10 of the Charter recognises the right to freedom of thought, conscience and religion; Article 12 recognises freedom of assembly and association; Article 21 prohibits discrimination, including on grounds of religion or belief, disability, age or sexual orientation; and Article 26 acknowledges the right of persons with disabilities to benefit from measures designed to ensure their independence.
Amendment 61 #
2008/0140(CNS)
Proposal for a directive
Recital 3
Recital 3
(3) This Directive respects the fundamental rights and observes the fundamental principles recognised in particular by the Charter of Fundamental Rights of the European Union. Article 10 of the Charter recognises the right to freedom of thought, conscience and religion; Article 21 prohibits discrimination, including on grounds of religion or belief, disability, age or, sexual orientation or gender; and Article 26 acknowledges the right of persons with disabilities to benefit from measures designed to ensure their independence.
Amendment 63 #
2008/0140(CNS)
Proposal for a directive
Recital 8
Recital 8
(8) The Community has adopted three legal instrumenta set of directives on the basis of article 13(1) of the EC Treaty to prevent and combat discrimination on grounds of sex, racial and ethnic origin, religion or belief, disability, age and sexual orientation. These instrumentdirectives have demonstrated the value of legislation in the fight against discrimination. In particular, Directive 2000/78/EC establishes a general framework for equal treatment in employment and occupation on the grounds of religion or belief, disability, age and sexual orientation. However, variations remain between Member States on the degree and the form of protection from discrimination on these grounds beyond the areas of employment.
Amendment 65 #
2008/0140(CNS)
Proposal for a directive
Recital 9
Recital 9
(9) Therefore, legislation should prohibit discrimination based on religion or belief, disability, age or, sexual orientation or gender in a range of areas outside the labour market, including social protection, education and access to and supply of goods and services, including housing. It should provide for measures to ensure the equal access of persons with disabilities to the areas covered.
Amendment 68 #
2008/0140(CNS)
Proposal for a directive
Recital 16
Recital 16
(16) All individuals enjoy the freedom to contract, including the freedom to choose a contractual partner for a transaction. This Directive should not apply to economic transactionIt is important to respect fundamental rights and freedoms, including the right to freedom of association. It is also important, in connection with access to goods and services uandertaken by individuals for whom these transactions do not constitute their professional or commercial activity the provision thereof, to respect the need to protect private and family life and transactions carried out in that context.
Amendment 71 #
2008/0140(CNS)
Proposal for a directive
Recital 21
Recital 21
(21) The prohibition of discrimination should be without prejudice to the maintenance or adoption by Member States of measures intended to prevent or compensate for disadvantages suffered by a group of persons of a particular religion or belief, disability, age or, sexual orientation. or gender. Such measures may permit organisations of persons of a particular religion or belief, disability, age or, sexual orientation or gender where their main object is the promotion of the special needs of those persons.
Amendment 74 #
2008/0140(CNS)
Proposal for a directive
Recital 23
Recital 23
(23) Persons who have been subject to discrimination based on religion or belief, disability, age or, sexual orientation or gender should have adequate means of legal protection. To provide a more effective level of protection, associations, organisations and other legal entities should be empowered to engage in proceedings, including on behalf of or in support of any victim, without prejudice to national rules of procedure concerning representation and defence before the courts.
Amendment 77 #
2008/0140(CNS)
Proposal for a directive
Recital 24
Recital 24
(24) The rules on the burden of proof must be adapted when there is a prima facie case of discrimination and, for the principle of equal treatment to be applied effectively, the burden of proof must shift back to the respondent when evidence of such discrimination is brought. However, it is not for the respondent to prove that the plaintiff adheres to a particular religion or belief, has a particular disability, is of a particular age or has a particular sexual orientation or gender.
Amendment 79 #
2008/0140(CNS)
Proposal for a directive
Article 1
Article 1
This Directive lays down a framework for combating discrimination on the grounds of religion or belief, disability, age, or sexual orientation or gender, with a view to putting into effect in the Member States the principle of equal treatment other than in the field of employment and occupation.
Amendment 82 #
2008/0140(CNS)
Proposal for a directive
Article 2 - paragraph 2 - indent b
Article 2 - paragraph 2 - indent b
b) indirect discrimination shall be taken to occur where an apparently neutral provision, criterion or practice would put persons of a particular religion or belief, a particular disability, a particular age, or a particular sexual orientation or gender at a particular disadvantage compared with other persons, unless that provision, criterion or practice is objectively justified by a legitimate aim and the means of achieving that aim are appropriate and necessary.
Amendment 83 #
2008/0140(CNS)
Proposal for a directive
Article 2 - paragraph 2 − point b a (new)
Article 2 - paragraph 2 − point b a (new)
(ba) there is such a thing as discrimination by association, whereby a person is unfavourably affected as a result of being in a direct relationship with people having a particular religion or set of beliefs, or a disability, or of a certain age or sexual orientation. Discrimination by association can arise, for example, when people are, or are thought to be, in a relationship, without necessarily cohabiting, and independently of any legal links of marriage or affiliation, to persons professing a particular religion or set of beliefs, having a disability or being of a certain age or sexual orientation .
Amendment 85 #
2008/0140(CNS)
Proposal for a directive
Article 2 paragraph 5
Article 2 paragraph 5
5. Denial of reasonable accommodation in ashall be deemed to be discrimination within the meaning of paragraph 1, as in the particular case as provided for by Article 4 (1)(b) of the present Directive as regards persons with disabilities shall be deemed to be discrimination within the meaning of paragraph 1or persons connected to them.
Amendment 93 #
2008/0140(CNS)
Proposal for a directive
Article 3 - paragraph 1 – second subparagraph
Article 3 - paragraph 1 – second subparagraph
Amendment 94 #
2008/0140(CNS)
Proposal for a directive
Article 3 - paragraph 3
Article 3 - paragraph 3
3. This Directive is without prejudice toNotwithstanding the powers of the Member States in respect of education, teaching and training, and their responsibilities of Member States for the content of teaching, activities and the organisation of their educational systems, including the provisionthis directive shall aim to guarantee processes of inclusion and integration, and the provision to people with disabilities of special needs education. Member States may provide for differences in treatment in access to educational institutions based on religion or belief, provided that these differences do not constitute discrimination on one or more other grounds, that they are necessary and proportionate and that they do not of themselves constitute a violation of the right to education.
Amendment 100 #
2008/0140(CNS)
Proposal for a directive
Article 5
Article 5
With a view to ensuring full equality in practice, the principle of equal treatment shall not prevent any Member State from maintaining or adopting specific measures to prevent or compensate for disadvantages linked to religion or belief, disability, age, or sexual orientation or gender.
Amendment 103 #
2008/0140(CNS)
Proposal for a directive
Article 12 - paragraph 1
Article 12 - paragraph 1
1. 1. Member States shall designate a body or bodies for the promotion of equal treatment of all persons irrespective of their religion or belief, disability, age, or sexual orientation or gender.
Amendment 104 #
2008/0140(CNS)
Proposal for a directive
Article 16 a (new)
Article 16 a (new)
16a. The Commission shall, by ………., prepare and set in motion the procedure for approval of a proposal aimed at coordinating the present directive with the directives in force in the areas of equal opportunities and prevention of discrimination.
Amendment 5 #
2007/2288(INI)
Draft opinion
Paragraph A
Paragraph A
A. Stresses that the objective of educationg and raising the awareness of consumers as regards finance and credit is to improve their understandingawareness of economic and financial realities with a view to avoiding risky commitments, excessive debt and financial exclusion; considers that training and the provision of information, by way of harmonised, comparable, simple and comprehensible information sheets for retail consumers, should allow them to take a critical approach to the financial products offered to them or which they are considering using;
Amendment 8 #
2007/2288(INI)
Draft opinion
Paragraph B a (new)
Paragraph B a (new)
Ba. Recalls the importance of developing financial education as a complement to adequate consumer protection, in particular in the field of retail banking and financial services (such as loans, mortgages and diversified and safe saving and investment), and as a means to assess information provided to retail consumers and investors;
Amendment 9 #
2007/2288(INI)
Draft opinion
Paragraph B b (new)
Paragraph B b (new)
Bb. Stresses that no complete set of rules and measures in terms of consumer information, education and protection in the field of banking and financial services will ever be sufficient to guarantee safe investments and financial stability if proper, efficient and coordinated financial supervision is not established at national and EU level;
Amendment 10 #
2007/2288(INI)
Draft opinion
Paragraph C
Paragraph C
C. Considers that effective, clear and comprehensible information, particularly in advertisements for financial products, is necessary and that financial institutions should provide sufficient information before contracts are concluded and, in particular, strictly apply the rules laid down in Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments1 (MifidFID) and Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers2; 1 OJ L 145, 30.4.2004, p. 1. 2 OJ L 133, 22.5.2008, p. 66. calls on the Commission to put forward, in a coherent manner specific legislative proposals for a harmonised system of consumer information and protection in the framework of mortgage credit (such as a harmonised, simple and comparable European standardised information sheet including common indications on the annual percentage rate of charge, etc.);
Amendment 12 #
2007/2288(INI)
Draft opinion
Paragraph C a (new)
Paragraph C a (new)
Ca. Calls on Member States' governments and local authorities and the banking and financial services sectors to adopt and coordinate measures and initiatives to raise financial literacy among citizens, including children, young, employees and retired people, with the view to empowering and educating consumers to enable them to seek better, cheaper and more appropriate products and services, and to make safe investment decisions;
Amendment 13 #
2007/2288(INI)
Draft opinion
Paragraph C b (new)
Paragraph C b (new)
Cb. Underlines that empowered and educated consumers help to foster competition, quality and innovation within the banking and financial services industries and recalls that educated and confident investors can provide additional liquidity to capital markets for investment and growth; highlights, moreover, that financial education contributes to establishing financially literate consumer organisations that are able to play a positive stakeholder role in the process of preparing banking and financial services regulation at national and EU level;
Amendment 16 #
2007/2288(INI)
Draft opinion
Paragraph D
Paragraph D
D. Suggests that an introduction to economics and finances should be introducprovided into teaching and adapted to the different levels of education, and that it should stress sound management of the family budget in particular; recalls that financial education can be carried out at all school levels and spread widely among consumers and citizens by means of the media and all available IT technologies and through specific and targeted programmes;
Amendment 77 #
2007/2287(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Recalls the importance of developing financial education as a complement to adequate consumer protection; calls on the Member States and all the stakeholders to take and coordinate measures to raise financial literacy among citizens – including children, young, employees and retirees – with a view to empowering and educating consumers to seek better, cheaper and more appropriate products and services, spur competition, quality and innovation within the industry, build up financially literate consumer organisations able to counterbalance the role of business in the process of preparing regulation; recalls that citizens who are confident in investing can provide additional liquidity to capital markets;
Amendment 2 #
2007/2253(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Points out that the development of the media system is increasingly driven by profit making and therefore social, political or economic processes are not adequately safeguarded, which is why anti-trust law must be interlinked with media law in order to guarantee access, competition and quality and avoid conflicts of interests between media concentration and political power, which are detrimental to free competition, a level playing field and pluralism;
Amendment 6 #
2007/2253(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls for measures to improve the competitiveness of European media concerns in order to make a significant contribution to economic growth, to be fostered also through raising the level of awareness and knowledge of economic and financial issues among citizens;
Amendment 48 #
2007/2201(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Recalls the importance of developing financial education as a complement to adequate consumer protection, especially in the field of retail banking (for instance loans, mortgages, diversified and safe saving and investment); calls on the Member States and the banking sector to take and coordinate measures to raise financial literacy among citizens, including children, young people, employees and retired people, with a view to educating and empowering consumers in order to enable them to seek better, cheaper and more appropriate products and services and to foster competition, quality and innovation within the banking industry; recalls that confident investors can provide additional liquidity to capital markets;
Amendment 92 #
2007/0143(COD)
Proposal for a directive
Recital 36
Recital 36
(36) The Solvency Capital Requirement should reflect a level of eligible own funds that enables insurance and reinsurance undertakings to absorb significant losses and that gives reasonable assurance to policyholders and beneficiaries that payments will be made as they fall due. In this respect, an appropriate balance between risk sensitivity and stability of the solvency capital requirement should be reached in order better to serve policyholders' needs and enhance their protection. Thus, the calibration of the capital charge shall properly take into account the long holding period of assets that is typical in insurance and pension business, in particular for certain types of assets, such as equity and real estate, and shall not discourage undertakings from holding participations in financial and non-financial firms and having own funds in excess of technical provisions and Solvency Capital Requirement.
Amendment 132 #
2007/0143(COD)
Proposal for a directive
Article 4 – paragraph 1
Article 4 – paragraph 1
Amendment 134 #
2007/0143(COD)
Proposal for a directive
Article 4 – paragraph 2
Article 4 – paragraph 2
Amendment 147 #
2007/0143(COD)
Proposal for a directive
Article 13 – point 15 a (new)
Article 13 – point 15 a (new)
(15a) 'intra-group transaction' means any transaction by which an insurance or reinsurance undertaking relies either directly or indirectly on other undertakings within the same group or on any natural or legal person linked to the undertakings within that group by close links, for the fulfilment of an obligation, whether or not contractual, and whether or not for payment. Those transactions concern in particular: - loans, - guarantees and off-balance-sheet transactions, - elements eligible for the solvency margin, - investments, - reinsurance operations, and - agreements to share costs;
Amendment 267 #
2007/0143(COD)
Proposal for a directive
Article 90 – paragraph -1 (new)
Article 90 – paragraph -1 (new)
Surplus funds shall be deemed to be realised profits, which are assigned either individually or collectively to policyholders and beneficiaries in the form of future discretionary bonuses.
Amendment 279 #
2007/0143(COD)
Proposal for a directive
Article 90 – paragraph 1
Article 90 – paragraph 1
Amendment 283 #
2007/0143(COD)
Proposal for a directive
Article 90 – paragraph 1 a (new)
Article 90 – paragraph 1 a (new)
In order to ensure a harmonised treatment of those surplus funds, the Commission shall adopt implementing measures laying down the main features of such funds as well as the approach to be taken with respect to those funds in the calculation of the Solvency Capital Requirement.
Amendment 365 #
2007/0143(COD)
Proposal for a directive
Article 105 – paragraph 5 – subparagraph 1
Article 105 – paragraph 5 – subparagraph 1
5. The market risk module shall reflect the risk arising from the level or volatility of market prices of financial instruments which have an impact upon the value of the assets and liabilities of the undertaking. It shall properly reflect the structural mismatch between assets and liabilities, in particular with respect to the duration thereof.
Amendment 372 #
2007/0143(COD)
Proposal for a directive
Article 105 – paragraph 5 – subparagraph 2 a (new)
Article 105 – paragraph 5 – subparagraph 2 a (new)
The equity (respectively property) risk sub-module shall be calculated using the Value-at-Risk based on the annualised return on equities (respectively annualised return on property) subject to a confidence level of 99,5 % taking duly into account the holding period of equities (respectively property), consistently with the duration of liabilities, the amount of own funds in excess of technical provisions and Solvency Capital Requirement and the long-term nature of the investment in the case of participations.
Amendment 377 #
2007/0143(COD)
Proposal for a directive
Article 105 – paragraph 5 – subparagraph 2 b (new)
Article 105 – paragraph 5 – subparagraph 2 b (new)
Notwithstanding subparagraph 2a, insurance and reinsurance undertakings may assess the impact of the changes of market prices of equity (or property) by simulating a fixed shock in equity (or property) prices.
Amendment 402 #
2007/0143(COD)
Proposal for a directive
Article 127 – paragraph 1 – point a
Article 127 – paragraph 1 – point a
(a) it shall be calculated in a clear and simple manner, and in such a way as to ensure that the calculation can be audited and verified before the courts;
Amendment 415 #
2007/0143(COD)
Proposal for a directive
Article 127 – paragraph 1 – point d
Article 127 – paragraph 1 – point d
(d) it shall have an absolute floor of 1 000 000 EUR for non-life insurance and reinsurance undertakings and 2 000 000 EUR for life insurance undertakingsbe calculated as percentage of the technical provision with a floor and a cap calculated as a percentage of the Solvency Capital Requirement. The cap shall be no less than EUR 3 200 000 for life insurance undertakings or EUR 2 200 000 for non-life insurance undertakings. Where, however, non-life insurance undertakings cover all or some of the risks included in one of the classes 10 to 15 listed in point A of Annex I, the cap shall be EUR 3 200 000.
Amendment 762 #
2007/0143(COD)
Proposal for a directive
Article 249 – paragraph 2 - subparagraph 1
Article 249 – paragraph 2 - subparagraph 1
2. The Member States shall require insurance and reinsurance undertakings or insurance holding companies to report on a regular basis and at least annually to the group supervisor all significant intra-group transactions by insurance and reinsurance undertakings within a group , including those performed with a natural person who holds a participation in: (a) the insurance or reinsurance undertaking or any of its related undertakings; (b) a participating undertaking in the insurance or reinsurance undertaking; or (c) a related undertaking of a participating undertaking in the insurance or reinsurance undertaking.
Amendment 42 #
2007/0094(COD)
Proposal for a directive
Recital 4
Recital 4
(4) The provisions should not cover third- country nationals who are not illegally staying. This excludes third-country nationals who are family members of citizens of the Union exercising their right to free movement within the Community, and those who, under agreements between the Community and its Member States, on the one hand, and the countries of which they are nationals, on the other, enjoy rights of free movement equivalent to those of citizens of the Union. It also excludes third-country nationals who are in a situation covered by Community law, such as those who are lawfully employed in another Member State and who are posted by a service provider to another Member State in the context of the provision of services, to whom the treatment prescribed by legislation, collective agreements and national practice in the host country applies, in accordance with the provisions of Directive 96/71/EC of the European Parliament and of the Council of 16 December 1996 concerning the posting of workers in the framework of the provision of services.
Amendment 45 #
2007/0094(COD)
Proposal for a directive
Recital 5
Recital 5
(5) To prevent the employment of illegally staying third-country nationals, employers should be required before recruiting a third-country national, including in cases where the third country national is being recruited for the purpose of posting to another Member State in the context of the provision of services, to check that they have a residence permit or another authorisation for staywhich is valid forat the period of employmentstart of their employment and can be renewed thereafter. The burden on employers should be limited to checking that the document is not manifestly incorrect, such as bearing a manifestly wrong photograph. To enable Member States in particular to check for forged documents, businesses and legal persons should also be required to notify the competent authorities of the employment of a third-country national. Member States may provide for a simplified system of employers' obligations in the case of private citizens employing third-country nationals as domestic help.
Amendment 46 #
2007/0094(COD)
Proposal for a directive
Recital 7
Recital 7
(7) To enforce the general prohibition and to deter infringements, Member States should provide for appropriate sanctions. These should include financial penalties and contributions to the costs of returning illegally staying third-country nationals, but provision should also be made for the possibility of imposing more moderate financial penalties in specified and limited cases where the workers concerned are employed as domestic help or by not-for- profit organisations or non-governmental organisations.
Amendment 48 #
2007/0094(COD)
Proposal for a directive
Recital 8
Recital 8
(8) The employer should in any case be required to pay to the third-country nationals any outstanding remuneration, ensuring that they receive the prescribed pay and treatment, including any associated allowances, for the work they have undertaken and any outstandor that they are treated ing taxes and social security contributionhe same way as comparable workers in ordinary employment relationships.
Amendment 54 #
2007/0094(COD)
Proposal for a directive
Recital 9
Recital 9
(9) Member States should ensure that claims are lodged and mechanisms are created to guarantee that recovered amounts of outstanding remuneration are received by the third- country nationals to whom they are due. In cases where the outstanding remuneration or comparable remuneration cannot be determined, the amount payable should be calculated by reference to the minimum wage laid down by national law unless the employer or the employee can prove that it should not apply. In those Member States in which no minimum wage is set, the amount of remuneration agreed should be calculated by reference to the minimum income which entitles citizens of the Member State concerned to receive social assistance in that Member State or in accordance with collective agreements or customary practice in the sector concerned.
Amendment 57 #
2007/0094(COD)
Proposal for a directive
Recital 10
Recital 10
(10) Member States should further provide for a presumption of a work relationship of at least six months duration so that the burden of proof is put on the employer in respect of at least a certain period and should provide for the employee also to have the possibility of proving the existence and duration of the work relationship.
Amendment 58 #
2007/0094(COD)
Proposal for a directive
Recital 13
Recital 13
(13) In view of the prevalence of subcontracting in certain affected sectors, it is necessary to ensure that all the undertakings in a chain of subcontracting, including temporary employment agencies providing temporary staff for firms using their services, are held jointly and severally liable to pay financial sanctions against an employer at the end of the chain who employs illegally staying third- country nationals.
Amendment 61 #
2007/0094(COD)
Proposal for a directive
Recital 13 a (new)
Recital 13 a (new)
(13a) Where the employer is an undertaking belonging to a group, the Member States should provide for the parent company to be held jointly liable for the payment of any penalties imposed or outstanding remuneration due.
Amendment 65 #
2007/0094(COD)
Proposal for a directive
Recital 19
Recital 19
(19) To supplement the complaint mechanisms, Member States should grant residence permits of limited duration, linked to the length of the relevant national proceedings, to third-country nationals who have been subjected to particularly exploitative working conditions and who cooperate in criminal proceedings against the employer. Member States should also grant residence permits of limited duration to third country nationals if they are minors, pregnant women or mothers of children up to three months old. Such permits should be granted under the same conditions as those granted under Directive 2004/81/EC of 29 April 2004 on the residence permit issued to third-country nationals who are victims of trafficking in human beings or who have been the subject of an action to facilitate illegal immigration who cooperate with the competent authorities.
Amendment 69 #
2007/0094(COD)
Proposal for a directive
Recital 21 a (new)
Recital 21 a (new)
(21a) This directive should not prevent Member States from adopting measures designed to convert undeclared employment into declared employment relationships and to regularise the situation of undeclared workers.
Amendment 70 #
2007/0094(COD)
Proposal for a directive
Article 2 – point b
Article 2 – point b
(b) ‘employment’ means exercise of remunerated activities for and under the direction of, or for and coordinated by, another person;
Amendment 71 #
2007/0094(COD)
Proposal for a directive
Article 2 – point b a (new)
Article 2 – point b a (new)
(ba) ‘remuneration’: prescribed pay and treatment, including any associated allowances, equivalent to those to which comparable workers in ordinary employment relationships are entitled;
Amendment 72 #
2007/0094(COD)
Proposal for a directive
Article 2 – point e
Article 2 – point e
(e) ‘employer’ means any person, including legal persons, for and under the direction of whom a third-country national exercises remunerated activities, or for whom a third-country national exercises remunerated activities and by whom those activities are coordinated;
Amendment 73 #
2007/0094(COD)
Proposal for a directive
Article 2 – point e a (new)
Article 2 – point e a (new)
(ea)' individual citizen acting in the capacity of an employer' means a person for whom a third country national exercises remunerated activities as a domestic worker;
Amendment 75 #
2007/0094(COD)
Proposal for a directive
Article 2 – point f
Article 2 – point f
(f) ‘subcontractor’ means a natural or legal person to whom the execution of all or part of the obligations of a prior contract is assigned., including temporary employment agencies and other intermediaries;
Amendment 79 #
2007/0094(COD)
Proposal for a directive
Article 2 – point f a (new)
Article 2 – point f a (new)
(fa) ‘business activities’ means activities carried out by a legally registered for- profit entity, excluding activities carried out by not-for-profit organisations and NGOs;
Amendment 82 #
2007/0094(COD)
Proposal for a directive
Article 3 –subparagraph 2 a (new)
Article 3 –subparagraph 2 a (new)
2a. The fact that it is unlawful to employ third country nationals staying illegally in the European Union does not invalidate the substance of the contract and the employment relationship.
Amendment 83 #
2007/0094(COD)
Proposal for a directive
Article 4 – paragraph 1 – point a
Article 4 – paragraph 1 – point a
(a) require the production by third-country nationals of a residence permit or another authorisation for stay which is valid forat the periodstart of the employment in question and can be renewed for the remaining period ;
Amendment 84 #
2007/0094(COD)
Proposal for a directive
Article 4 – paragraph 1 – point b
Article 4 – paragraph 1 – point b
(b) copy or record the content of the residence permit or other authorisation for stay before employment begininclude a copy of the residence permit or other authorisation for stay in the documentation required in connection with the procedures already provided for by the Member States when workers are employed and notify the competent authorities designated by the Member States of both the start and the termination of employment of third- country nationals;
Amendment 86 #
2007/0094(COD)
Proposal for a directive
Article 4 – paragraph 1 – point c
Article 4 – paragraph 1 – point c
(c) keep for at least the duration of the employment the copies or recordand the following twelve months the documentation relating to the employment of third-country nationals available for inspection by the competent authorities of the Member States.
Amendment 88 #
2007/0094(COD)
Proposal for a directive
Article 4 – paragraph 2
Article 4 – paragraph 2
Amendment 89 #
2007/0094(COD)
Proposal for a directive
Article 4 – paragraph 2 a (new)
Article 4 – paragraph 2 a (new)
2a. Member States may provide for a simplified system of employers' obligations in the case of individual citizens employing people to carry out domestic work.
Amendment 90 #
2007/0094(COD)
Proposal for a directive
Article 4 – paragraph 2 b (new)
Article 4 – paragraph 2 b (new)
2b. Member States may provide for a sufficient period of time to enable employers and workers to bring the employment situation into line with national law.
Amendment 97 #
2007/0094(COD)
Proposal for a directive
Article 6 – paragraph 2 – point (b)
Article 6 – paragraph 2 – point (b)
(b) payments of a contribution to the costs of return of each illegally employed third- country national in those cases where return procedures are carried out.
Amendment 98 #
2007/0094(COD)
Proposal for a directive
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. Member States may provide for reduced financial penalties where the employer is a private citizen employing a third country national to carry out domestic work or where the employers are not-for-profit organisations or NGOs.
Amendment 104 #
2007/0094(COD)
Proposal for a directive
Article 7 – paragraph 1 – point (a) a (new)
Article 7 – paragraph 1 – point (a) a (new)
(aa) Where it is not possible to determine the remuneration in accordance with the provisions of Article 2(a)a, the amount payable should be calculated by reference to the minimum wage laid down by national law unless the employer or the employee can prove that it should not apply. In those Member States in which no minimum wage is set, the amount of remuneration agreed should be calculated by reference to the minimum income which entitles citizens of the Member State concerned to receive social assistance in that Member State or in accordance with collective agreements or customary practice in the sector concerned;
Amendment 112 #
2007/0094(COD)
Proposal for a directive
Article 7 – paragraph 2 – point (b)
Article 7 – paragraph 2 – point (b)
(b) provide that a work relationship of at least 6 months duration be presumed unless the employer or employee can prove differently.
Amendment 117 #
2007/0094(COD)
Proposal for a directive
Article 7 – paragraph 4
Article 7 – paragraph 4
4. In respect of criminal offences covered by Article 10(1)(c), Member States shall take the necessary measures to ensure that the execution of any return decision is postponed until the third-country national has received any back payment of their remuneration recovered under paragraph 1(a).
Amendment 120 #
2007/0094(COD)
Proposal for a directive
Article 9 a (new)
Article 9 a (new)
Article 9a Groups of undertakings Where the employer is an undertaking belonging to a group, Member States shall ensure that the parent company is jointly liable to pay: (a) any sanction imposed under Article 6, and (b) any back payments due under Article 7.
Amendment 125 #
2007/0094(COD)
Proposal for a directive
Article 10 – paragraph 1 – point (c)
Article 10 – paragraph 1 – point (c)
(c) the infringement is accompanied by abuse, sexual discrimination or particularly exploitative working conditions, such as which involve violence, threats, intimidation or degrading treatment and represent a significant difference in working conditions from those enjoyed by legally employed workers; or
Amendment 136 #
2007/0094(COD)
Proposal for a directive
Article 14 – paragraph 3 a (new)
Article 14 – paragraph 3 a (new)
3a. In respect of the prohibition contained in Article 3, and in particular the criminal offences referred to in Article 10(1)(c) and (d)), Member States shall under the conditions of Articles 4 to 15 of Directive 2004/81/EC grant residence permits of limited duration, linked to the length of the relevant national proceedings, to third country nationals who are minors, pregnant women or mothers of children up to three months old.
Amendment 143 #
2007/0094(COD)
Proposal for a directive
Article 15 – paragraph 2 a (new)
Article 15 – paragraph 2 a (new)
2a. Member States shall ensure that the inspections covered by paragraphs 1 and 2 shall not prejudice any controls carried out for the specific purpose of checking working conditions irrespective of the employees’ status.
Amendment 147 #
2007/0094(COD)
Proposal for a directive
Article 15 a (new)
Article 15 a (new)
Article 15 a Relationship to national measures This directive shall not prejudice national measures to encourage the conversion of undeclared work into declared employment relationships and to help undeclared workers to regularise their status.