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10 Amendments of Sirpa PIETIKÄINEN related to 2011/0307(COD)

Amendment 15 #
Proposal for a directive
Recital 7
(7) In order to provide for enhanced transparency of payments made to governments, issuers whose securities are admitted to trading on a regulated market and which have activities in the extractive or logging of primary forest industries should disclose in a separate report on an annual basis payments made to governments in the countries in which they operate. The report should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and provide civil society with information to hold governments of resource-rich countries to account for their receipts from the exploitation of natural resoshould disclose as part of their annual financial statements payments made to governments in the countries in which they operate. Disclosures should be incorporated on a country-by-country basis. In the case of issuers engaged in activities related to extractive or forest industries, disclosures should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and should be on a country-by-country and project- by-project basis, where a project means a contract, licence, lease or other legal agreement under which an issuer operates, and which gives rise to specific revenue liabilities. For all issuers, disclosurces. The initiative is also complement should include name, turnover and assets (including third party to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade) and the Timber Regulation which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU marketand intra-group) of the constituent entities of the undertaking that might give rise to payments and, on a per-country basis, quantities produced, sales, profit before tax, effective tax rates, total number of people employed and their aggregate remuneration and expenditure on fixed asset investment during the course of the reporting period. The detailed requirements are defined in Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council.
2012/04/27
Committee: ECON
Amendment 38 #
Proposal for a directive
Article 1 – paragraph 1 – point 5
Directive 2004/109/CE
Article 6
Member States shall require all issuers active in the extractive or logging of primary forest industries, as defined in […] to prepare, in accordance withto prepare, as part of their annual financial statements, a report on payments made to governments in the countries in which they operate as if Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council (*), a report on payments made to governments on an annual basispplied. The report shall be made public at the latest six months after the end of each financial year and shall remain publicly available for at least five years. Payments to governments shall be reported at consolidated level. The report should incorporate disclosures on a country-by-country basis. For issuers engaged in activities related to extractive or forest industries, disclosures should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and should be on a country-by-country and project-by-project basis, where a project means a contract, licence, lease or other legal agreement under which an issuer operates, and from which its specific revenue liabilities arise. For all issuers, disclosures should include name, assets and turnover (including third party and intra-group turnover) of the constituent entities of the undertaking that might give rise to payments and, on a per-country basis, quantities produced, sales, profit before tax, effective tax rates, total number of people employed and their aggregate remuneration and expenditure on fixed asset investment during the course of the reporting period.
2012/04/27
Committee: ECON
Amendment 42 #
Proposal for a directive
Article 1 – paragraph 1 – point 5 a (new)
Directive 2004/019/EC
Article 6 a (new)
5a. The following Article 6a is inserted : 'Article 6a In addition to the requirements in Article 6, for the purposes of transparency and investor protection, Member States shall require the following principles to apply for the reporting on payments to governments: (a) integrated reporting: the report on payments for governments shall be part of the annual financial report and shall be in an easily accessible and comparable format; (b) materiality: any payment to government above 20 000 euros shall be reported; rules shall be put in place to ensure that any thresholds cannot be circumvented; (c) project-by-project reporting: for issuers engaged in activities related to extractive or forest industries reporting shall also be project by project where any payment shall be reported, taking into account the local and regional impact for defining a project; the project means a contract, licence, lease or other legal agreement under which an issuer operates, and from which its specific revenue liabilities arise; (d) universality: all issuers shall be subject to the country-by-country reporting requirements; no exemptions shall be made which have a distortive impact and allow issuers to exploit lax requirements for transparency; (e) comprehensiveness: all relevant payments and revenues paid to governments shall be reported, including payments in kind, operating costs and payments to significant suppliers of services, including the state provision of services; (f) comparability: the reporting on all payments to governments shall enable data for different countries to be compared easily.'
2012/04/27
Committee: ECON
Amendment 44 #
Proposal for a directive
Article 1 – paragraph 1 – point 6 – point b a (new)
Directive 2004/109/CE
Article 8 – paragraph 1b (new)
(ba) The following paragraph 1b is inserted: '1b. Article 6 shall not apply to an issuer that has a net turnover less than EUR 40 million in the preceding financial year;'
2012/04/27
Committee: ECON
Amendment 45 #
Proposal for a directive
Article 1 – paragraph 1 – point 7 – point b
Directive 2004/109/CE
Article 9 – paragraph 6 – subparagraph 3
ESMA shall develop draft regulatory technical standards to specify the method of calculation of the 5 % threshold referred to in point (a) of that subparagraph in case of a group of companies, taking into account Article 12(4) and (5).deleted
2012/04/27
Committee: ECON
Amendment 46 #
Proposal for a directive
Article 1 – paragraph 1 – point 7 – point b
Directive 2004/109/CE
Article 9 –paragraph 6 – subparagraph 4
ESMA shall submit those draft regulatory technical standards to the Commission by 31 December 2013.deleted
2012/04/27
Committee: ECON
Amendment 47 #
Proposal for a directive
Article 1 – paragraph 1 – point 7 – point b
Directive 2004/109/CE
Article 9 – paragraph 6 – subparagraph 5
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the third subparagraph of this paragraphThe Commission shall be empowered to adopt, by means of delegated acts in accordance with Article 27(2a), (2b) and (2c), and subject to the conditions of Articles 27a and 27b, measures to specify the method of calculation of the 5 % threshold referred to in point (a) of that subparagraph in case of a group of companies, taking into accordance withunt Articles 10 to 14 of Regulation (EU) No 1095/20102(4) and (5).
2012/04/27
Committee: ECON
Amendment 59 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Directive 2004/109/EC
Article 21 – paragraph 4 – point c
(c) rules concerningto ensure the interoperability of the information and communication technologies used by the national officially appointed mechanisms and the access to regulated information at the Union level, as referred to in paragraph 2.
2012/04/27
Committee: ECON
Amendment 60 #
Proposal for a directive
Article 1 – paragraph 1 – point 12 a (new)
Directive 2004/109/EC
Article 21a (new)
The following Article shall be inserted: 'Article 21a 1. A European central platform ("the platform") shall be established. 2. The system of interconnection of central storage mechanism shall be composed of: – the central storage mechanisms of Member States, – the platform, – the portal serving as the European electronic access point. 3. The Member States shall ensure the interoperability of their central storage mechanisms within the system via the platform.'
2012/04/27
Committee: ECON
Amendment 64 #
Proposal for a directive
Article 1 – paragraph 1 – point 18a (new)
Directive 2004/109/CE
Article 33
Article 33 is replaced by the following: 'Article 33 Review The Commission shall by [2 years after the date of transposition of this Directive] report on the operation of this Directive to the European Parliament and the Council, in particular as regards the following elements: – the operation of the reporting of payments to governments and the implementation of the principles on this issue; – the operation of the exemptions to the reporting requirements for issuers that are States, regional or local authorities, public international bodies of which at least one Member State is a member, the ECB, and Member States' national banks whether or not they issue shares or other securities; - the drafting of regulatory technical standards by ESMA; - the functioning of the system of interconnection of central storage mechanism; - any other rules necessary or appropriate in the public interest or for the protection of investors; – the application of sanctions. The report shall be submitted together with a legislative proposal, if appropriate.'
2012/04/27
Committee: ECON