7 Amendments of Rosa ESTARÀS FERRAGUT related to 2011/0418(COD)
Amendment 45 #
Proposal for a regulation
Recital 9
Recital 9
(9) Taking into account the specific funding needs of social undertakings, it is necessary to achieve clarity regarding the types of instruments a EuSEF should use for such funding. Therefore, this Regulation should lay down uniform rules on the eligible instruments to be used by a EuSEF when making investments, which include equity instruments, debt instruments, investments into other EuSEFs and short and medium term loans. The EuSEF should facilitate long-term investment in social businesses, which require stable financing to have an impact on society, given that investments intended to have a social impact generally take longer to bear fruit than those designed uniquely to yield financial returns;
Amendment 64 #
Proposal for a regulation
Article 3 – paragraph 1 – point d – introductory part
Article 3 – paragraph 1 – point d – introductory part
(d) 'qualifying portfolio undertaking', given the wide variety of legal forms that such undertakings may take from Member State to Member State, means an undertaking that, at the time of an investment by the EuSEF, is not listed on a regulated market as defined in point (14) of Article 4 (1) of Directive 2004/39/EC, which either has an annual turnover not exceeding EUR 50 million, or an annual balance sheet total not exceeding EUR 43 million, which is not itself a collective investment undertaking and which:
Amendment 66 #
Proposal for a regulation
Article 3 – paragraph 1 – point d – point i – indent 1
Article 3 – paragraph 1 – point d – point i – indent 1
– the undertaking provides services or goods to vulnerable or, marginalised or disabled persons; or
Amendment 103 #
Proposal for a regulation
Article 7 – paragraph 1 – point e a (new)
Article 7 – paragraph 1 – point e a (new)
(e a) pay due attention to issues of social impact (such as disability) by incorporating them into investment criteria, tools for analysis and investment procedures;
Amendment 104 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. EuSEF managers shall employ for each EuSEF they manage procedures, which may be approved with the involvement of social economy organisations, to measure and monitor the extent to which the qualifying portfolio undertakings, in which the EuSEF invests, achieve the positive social impact that they are committed to.
Amendment 121 #
Proposal for a regulation
Article 14 – paragraph 3
Article 14 – paragraph 3
3. The registration shall be valid for the entire territory of the Union and shall allow EuSEF managers to market EuSEFs under the designation “European Social Entrepreneurship Funds” throughout the Union. A certificate with a social label may make it possible to recognise and give fresh impetus to social activities, and bring greater transparency to the activities of social businesses and innovative support mechanisms, with a view to attracting private funding.
Amendment 128 #
Proposal for a regulation
Article 22 a (new)
Article 22 a (new)
Article 22a Independent third parties with experience of auditing and financial implementation and knowledge of what social impact entails should contribute to verifying the measurement of social impacts, with the support of NGOs in specialist fields such as disability.