3 Amendments of Kyriakos MAVRONIKOLAS related to 2011/0307(COD)
Amendment 12 #
Proposal for a directive
Article 1 – point 5
Article 1 – point 5
Directive 2004/109/EC
Article 6
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 with Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council (*), a report on payments made to governments on an annual basis. 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.
Amendment 14 #
Proposal for a directive
Article 1 – point 5 a (new)
Article 1 – point 5 a (new)
Directive 2004/109/EC
Article 6 a (new)
Article 6 a (new)
(5a) The following Article is inserted: 'Article 6a Principles for reporting on payments to governments 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 to governments shall form part of the annual financial report and shall be in an easily accessible and comparable format; in particular, it shall allow payments to be linked to projects; (b) materiality: any payment shall be reported which is deemed to have a significant impact on a country's economy or society on a local, regional or national level; any threshold shall reflect such impact; rules shall be put in place to ensure that thresholds cannot be circumvented; (c) project-by-project reporting: reporting shall be done on a project-by- project basis, taking into account the local and regional impact for the purposes of defining a project; the project definition shall include criteria such as the existence of a licence, lease, concession or other similar legal agreement; (d) universality: all issuers shall be subject to the reporting requirements; no exemptions shall be made which might have a distortive impact and allow issuers to exploit lax transparency requirements; (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 be such as to enable data in respect of different countries to be compared easily.'.
Amendment 15 #
Proposal for a directive
Article 2 a (new)
Article 2 a (new)
Article 2a Review The Commission shall by [2 years after the final date for transposition of this Directive] report on the operation of this Directive to the European Parliament and the Council, in particular as regards the following: – the operation of the reporting of payments to governments and the implementation of the principles to be observed in that regard; – the operation of the exemptions from the reporting requirements applying to issuers that are States, regional or local authorities, public international bodies of which at least one Member State is a member, the European Central Bank, and Member States' national banks whether or not they issue shares or other securities; – the drafting of regulatory technical standards by ESMA; – 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.