32 Amendments of Norica NICOLAI related to 2016/0282(COD)
Amendment 132 #
Proposal for a regulation
Article 265 – paragraph 1 – point 10 – point a
Article 265 – paragraph 1 – point 10 – point a
“(c) an estimate of additional public and private resources to be potentially raised by the financial instrument down to the level of the final recipient (expected leverage effect), including as appropriate an assessment of the need for, and levelextent of, differentiated treatment to attract counterpart resources from private investors and/or a description of the mechanisms which will be used to establish the need for, and extent of, such differentiated treatment, such as a competitive or appropriately independent assessment process;”
Amendment 138 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point b – point i
Article 265 – paragraph 1 – point 11 – point b – point i
Regulation (EU) No 1303/2013
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii
(iii) a publicly-owned bank or financial institution, established as a legal entity carrying out financial activities on a professional basis, which fulfils all the following conditions:
Amendment 141 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point b – point i
Article 265 – paragraph 1 – point 11 – point b – point i
Regulation (EU) No 1303/2013
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 1a
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 1a
– does not conduct retail banking transactions on a commercial basis which can direct benefit from this direct entrustment;
Amendment 143 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point b – point i
Article 265 – paragraph 1 – point 11 – point b – point i
Regulation (EU) No 1303/2013
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 2
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 2
– operates under a public policy mandate given by the relevant authority of a Member State at national or regional level, towhich should include carrying out economic development activities contributing to the objectives of the ESI Funds;
Amendment 144 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point b – point i
Article 265 – paragraph 1 – point 11 – point b – point i
– carries out its activities including development activities in regions, policy areas andor sectors for which access to funding from market sources is not generally available or sufficient;
Amendment 145 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point b – point i
Article 265 – paragraph 1 – point 11 – point b – point i
Regulation (EU) No 1303/2013
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 3
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 3
– carries out its economic development activities contributing to the objectives of the ESI Funds in regions, policy areas and sectors for which access to funding from market sources is not generally available or sufficient;
Amendment 148 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point b – point i
Article 265 – paragraph 1 – point 11 – point b – point i
Regulation (EU) No 1303/2013
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 4
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 4
– operates on a non-profit maximisation basiwithout primarily focus on maximising profits in order to ensure a long-term financial sustainability;
Amendment 153 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point b – point i
Article 265 – paragraph 1 – point 11 – point b – point i
Regulation (EU) No 1303/2013
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 6
Article 38 – paragraph 4 – subparagraph 1 – point b – point iii – indent 6
– is subject to the supervision of an independent authority in accordance with nationalapplicable law.
Amendment 154 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point b – point ii
Article 265 – paragraph 1 – point 11 – point b – point ii
“When implementing the financial instrument, the bodies referred to in points (a) to (d) of the first subparagraph shall ensure compliancecomply with applicable law, including rules covering the ESI Funds, State aid, public procurement and relevant standards and applicable legislation on the prevention of money laundering, the fight against terrorism, tax fraud and tax evasion. Those bodies shall not make use of or engage in tax avoidance structures, in particular aggressive tax planning schemes or practices not complying with EU tax good governance cpriterianciples, as set out in EUthe Union legislation including Commission recommendations and communications or or any formal notice by the latter. In this context, the bodies implementing financial instruments shall take the utmost account of the policies of the Union. They shall not be established and, in relation to the implementation of the financial operationinstruments shall not maintain business relations with entities incorporated in jurisdictions that do not co-operate with the Union in relation to the application of the internationally agreed tax standards on transparency and exchange of information. Those bodies may, under their responsibility, conclude agreements with financial intermediaries for the implementation of financial operationinstruments. They shall transpose requirements referred to in this paragraph in their contracts with the financial intermediaries selected to participate in the execution of financial operationinstruments under such agreements.”
Amendment 157 #
Proposal for a regulation
Article 265 – paragraph 1 – point 11 – point d a (new)
Article 265 – paragraph 1 – point 11 – point d a (new)
Regulation (EU) No 1303/2013
Article 38 – paragraph 9 a (new)
Article 38 – paragraph 9 a (new)
(da) The following paragraph 9a is added: “9a. Notwithstanding Articles 70 and 93(1), contributions pursuant to paragraph 1 of this Article may be used for the purpose of giving rise to new debt and equity finance in the entire territory of the Member State without regard to the categories of region, unless otherwise provided for in the funding agreement.”
Amendment 167 #
Proposal for a regulation
Article 265 – paragraph 1 – point 13
Article 265 – paragraph 1 – point 13
Regulation (EU) No 1303/2013
Article 39a – paragraph 2
Article 39a – paragraph 2
2. The contribution referred to in paragraph 1 shall not exceed 25 % of the total support provided to final recipients. In the less developed regions referred to in point (b) of Article 120(3), the financial contribution may exceed 25% where duly justified by the ex-ante assessments in either Article 37(2) or paragraph 3 of this Article, but shall not exceed 50%. The total support referred to in this paragraph shall comprise the total amount of new loans and guaranteed loans as well as equity and quasi-equity investments provided to final recipients. The guaranteed loans referred to in this paragraph shall only be taken into account to the extent that ESI Funds resources are committed for guarantee contracts calculated on the basis of a prudent ex ante risk assessment covering a multiple amount of new loans.
Amendment 170 #
Proposal for a regulation
Article 265 – paragraph 1 – point 13
Article 265 – paragraph 1 – point 13
Regulation (EU) No 1303/2013
Article 39a – paragraph 4
Article 39a – paragraph 4
4. Reporting by managing authorities under Article 46 on operations comprising financial instruments under this Article shall be based on the information kept by the EIB for the purposes of its reporting pursuant to Article 16(1) and (2) of the EFSI Regulation, supplemented by the additional information required under Article 46(2). Requirements under this paragraph shall allow for uniform reporting conditions in accordance with Article 46(3) of this Regulation.
Amendment 171 #
Proposal for a regulation
Article 265 – paragraph 1 – point 13
Article 265 – paragraph 1 – point 13
Regulation (EU) No 1303/2013
Article 39a – paragraph 5 – point b
Article 39a – paragraph 5 – point b
(b) entrust implementation tasks to a financial institutionbody, which shall either open a fiduciary account in its name and on behalf of the managing authority or set up a separate block of finance within the financial institution for programme contribution. In the case of a separate block of finance, an accounting distinction shall be made between programme resources invested in the financial instrument and the other resources available in the financial institution. The assets held on fiduciary accounts and such separate blocks of finance shall be managed in accordance with the principle of sound financial management following appropriate prudential rules and shall have appropriate liquidity.
Amendment 172 #
Proposal for a regulation
Article 265 – paragraph 1 – point 13
Article 265 – paragraph 1 – point 13
Regulation (EU) No 1303/2013
Article 39a – paragraph 6
Article 39a – paragraph 6
6. When implementing financial instruments under point (c) of Article 38(1), the bodies referred to in paragraph 25 of this article shall ensure compliancecomply with applicable law, including rules covering the ESI Funds, State aid, public procurement and relevant standards and applicable legislation on the prevention of money laundering, the fight against terrorism, tax fraud and tax evasion. Those bodies shall not make use of or engage in tax avoidance structures, in particular aggressive tax planning schemes or practices not complying with EU tax good governance cpriterianciples, as set out in EUthe Union legislation including Commission recommendations and communications or any formal notice by the latter. In this context, the bodies implementing financial instruments shall take the utmost account of the policies of the Union. They shall not be established and, in relation to the implementation of the financial operationinstruments shall not maintain business relations with entities incorporated in jurisdictions that do not co- operate with the Union in relation to the application of the internationally agreed tax standards on transparency and exchange of information. Those bodies may, under their responsibility, conclude agreements with financial intermediaries for the implementation of financial operationinstruments. They shall transpose requirements referred to in this paragraph in their contracts with the financial intermediaries selected to participate in the execution of financial operationinstruments under such agreements.
Amendment 180 #
Proposal for a regulation
Article 265 – paragraph 1 – point 13
Article 265 – paragraph 1 – point 13
Regulation (EU) No 1303/2013
Article 39a – paragraph 8
Article 39a – paragraph 8
8. Where, for the purpose of implementing financial instruments referred to under point (c) of Article 38(1), managing authorities contribute ESI Funds programme resources to an existing instrument under point (c) of Article 38(1), the fund manager of which has already been selected by the EIB, international financial institutions in which a Member State is a shareholder, or a publicly-owned bank or financial institution, established as a legal entity carrying out financial activities on a professional basis and fulfilling the conditions set out under Article 38(4)(b)(iii), they shall entrust implementation tasks to this fund manager through the award of a direct contract.
Amendment 184 #
Proposal for a regulation
Article 265 – paragraph 1 – point 14 – point a
Article 265 – paragraph 1 – point 14 – point a
Regulation (EU) No 1303/2013
Article 40 – paragraph 1 – subparagraph 1
Article 40 – paragraph 1 – subparagraph 1
The authorities designated in accordance with Article 124 of this Regulation and with Article 65 of the EAFRD Regulation shall not carry out on-the-spot verifications at the level of the EIB or other international financial institutions in which a Member State is a shareholder, for financial instruments implemented by them.
Amendment 185 #
Proposal for a regulation
Article 265 – paragraph 1 – point 14 – point a
Article 265 – paragraph 1 – point 14 – point a
Regulation (EU) No 1303/2013
Article 40 – paragraph 1 – subparagraph 2
Article 40 – paragraph 1 – subparagraph 2
However, the designated authorities shall, taking into account the risks identified, shall consider whether to carry out verifications in accordance with Article 125(5) at the level of other bodies implementing the financial instruments referred to in Article 39 in the jurisdiction of their respective Member State and, where necessary, at the level of the final recipient.
Amendment 187 #
Proposal for a regulation
Article 265 – paragraph 1 – point 14 – point a
Article 265 – paragraph 1 – point 14 – point a
The Commission shall be empowered to adopt an implementing act concerning the models for the control reports and the annual audit reports of the firstthird sub- paragraph of this paragraph.
Amendment 188 #
Proposal for a regulation
Article 265 – paragraph 1 – point 14 – point a
Article 265 – paragraph 1 – point 14 – point a
Regulation (EU) No 1303/2013
Article 40 – paragraph 2 – subparagraph 2
Article 40 – paragraph 2 – subparagraph 2
The bodies responsible for the audit of the programmes shall, taking into account the risks identified, shall consider whether to carry out audits of operations and of management and control systems at the level of other bodies implementing the financial instruments referred to in Article 39 in their respective Member States and at the level of the final recipients when conditions of Article 40 (3) are fulfilled.
Amendment 191 #
Proposal for a regulation
Article 265 – paragraph 1 – point 14 – point b
Article 265 – paragraph 1 – point 14 – point b
Regulation (EU) No 1303/2013
Article 40 – paragraph 5a – point b
Article 40 – paragraph 5a – point b
(b) where the irregularity that gives rise to the cancellation of the contribution is detected at the level of the financial intermediary within a fund of funds, the contribution cancelled may be reused only for otor at the level of the body implementing financial instruments where financial intermediaries or for other final recipients within the same financial instrumentstrument is implemented through a structure without a fund of funds, the contribution cancelled may be reused only for other financial intermediaries.
Amendment 193 #
Proposal for a regulation
Article 265 – paragraph 1 – point 15 a (new)
Article 265 – paragraph 1 – point 15 a (new)
Regulation (EU) No 1303/2013
Article 41 – paragraph 1 – point b
Article 41 – paragraph 1 – point b
15a. In Article 41, paragraph 1, point b is replaced by the following: “(b) each application for interim payment referred to in point (a) of this paragraph may include up to 25 % or up to 50% in case of multiple financial intermediaries fund if duly justified, of the total amount of the national co-financing as referred to in Article 38(9) expected to be paid to the financial instrument, or at the level of final recipients for expenditure in the meaning of points (a), (b) and (d) of Article 42(1), within the eligibility period; ” Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/?qid=1489051089459&uri=CELEX:32013R1303)
Amendment 195 #
Proposal for a regulation
Article 265 – paragraph 1 – point 15 b (new)
Article 265 – paragraph 1 – point 15 b (new)
Regulation (EU) No 1303/2013
Article 41 – paragraph 1 – point c – point i
Article 41 – paragraph 1 – point c – point i
Amendment 196 #
Proposal for a regulation
Article 265 – paragraph 1 – point 15 c (new)
Article 265 – paragraph 1 – point 15 c (new)
Regulation (EU) No 1303/2013
Article 41 – paragraph 1 – point c – point ii
Article 41 – paragraph 1 – point c – point ii
15c. In Article 41, paragraph 1, point c, point ii is replaced by the following: “(ii) for the third and subsequent applications for interim payment, when at least 85 % or at least 60 % and in case of multiple financial intermediaries fund if duly justified of the amounts included in the previous applications for interim payments have been spent as eligible expenditure within the meaning of points (a), (b) and (d) of Article 42(1);” Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/?qid=1489051089459&uri=CELEX:32013R1303)
Amendment 197 #
Proposal for a regulation
Article 265 – paragraph 1 – point 15 d (new)
Article 265 – paragraph 1 – point 15 d (new)
Regulation (EU) No 1303/2013
Article 41 – paragraph 2
Article 41 – paragraph 2
15d. In Article 41, paragraph 2 is replaced by the following: “2. As regards financial instruments referred to in point (b) of Article 38(1) implemented in accordance with point (cd) of Article 38(4), the applications for interim payments and for payment of the final balance shall include the total amount of the payments effected by the managing authority for investments in final recipients as referred to in points (a) and (b) of Article 42(1).”
Amendment 209 #
Proposal for a regulation
Article 265 – paragraph 1 – point 17
Article 265 – paragraph 1 – point 17
Regulation (EU) No 1303/2013
Article 43a – paragraph 1
Article 43a – paragraph 1
1. Support from the ESI Funds to financial instruments invested in final recipients and gains and other earnings or yields, such as interest, guarantee fees, dividends, capital gains or any other income generated by those investments, which are attributable to the support from the ESI Funds, may be used for differentiated treatment of privatemarket economy investors, as well as the EIB when using the EU guarantee pursuant to Regulation (EU) 2015/1017. Such differentiated treatment shall be justified by the need to attract private counterpart resources.
Amendment 210 #
Proposal for a regulation
Article 265 – paragraph 1 – point 17
Article 265 – paragraph 1 – point 17
Regulation (EU) No 1303/2013
Article 43a – paragraph 1 a (new)
Article 43a – paragraph 1 a (new)
1a. The assessments referred to in Article 37(2) and Article 39a(3) shall include, as appropriate, an assessment of the need for, and the extent of, differentiated treatment as referred to in paragraph 1 of this Article and/or a description of the mechanism which will be used to establish the need for, and extent of, such differentiated treatment.
Amendment 217 #
Proposal for a regulation
Article 265 – paragraph 1 – point 17
Article 265 – paragraph 1 – point 17
Regulation (EU) No 1303/2013
Article 43a – paragraph 3
Article 43a – paragraph 3
3. The differentiated treatment shall not exceed what is necessary to create the incentives for attracting private counterpart resources. It shall not over-compensate privatemarket economy investors, and the EIB when using the EU guarantee according to Regulation (EU) 2015/1017. The alignment of interest shall be ensured through an appropriate sharing of risk and profit.
Amendment 218 #
Proposal for a regulation
Article 265 – paragraph 1 – point 17
Article 265 – paragraph 1 – point 17
Regulation (EU) No 1303/2013
Article 43a – paragraph 4
Article 43a – paragraph 4
4. Differentiated treatment of privatemarket economy investors shall be without prejudice to the Union State aid rules.
Amendment 221 #
Proposal for a regulation
Article 265 – paragraph 1 – point 18 a (new)
Article 265 – paragraph 1 – point 18 a (new)
Regulation (EU) No 1303/2013
Article 46 – paragraph 2 – subparagraph 1 – point a a (new)
Article 46 – paragraph 2 – subparagraph 1 – point a a (new)
18a. In Article 46, in paragraph 2, point aa is added: (aa) identification of the bodies implementing financial instruments, and the bodies implementing funds of funds where applicable, as referred to under point (a), (b) and (c) of Article 38(1);”
Amendment 222 #
Proposal for a regulation
Article 265 – paragraph 1 – point 19 – introductory part
Article 265 – paragraph 1 – point 19 – introductory part
19. in Article 46, in paragraph 2, in the first subparagraph, points (c), points (g) and (h) are replaced by the following:
Amendment 232 #
Proposal for a regulation
Article 265 – paragraph 1 – point 24 – point a
Article 265 – paragraph 1 – point 24 – point a
Regulation (EU) No 1303/2013
Article 61 – paragraph 3 – point aa
Article 61 – paragraph 3 – point aa
“application of a flat rate net revenue percentage established by a Member State for a sector or sub-sector not covered under point (a). Before the application of the flat rate the responsible audit authority shall satisfy itself that the flat rate has been established according to a fair, equitable and verifiable method based on historical data or objective criteria.;”;
Amendment 261 #
Proposal for a regulation
Article 265 – paragraph 1 – point 57
Article 265 – paragraph 1 – point 57
Regulation (EU) No 1303/2013
Article 140 – paragraph 3
Article 140 – paragraph 3
“Where documents are kept on commonly accepted data carriers in accordance with the procedure laid down in paragraph 5, no originals shall be required, except at least for the cases where fraud suspicions exist.”