Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-12-12-Speech-2-308"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2000-12-12"^^xsd:date2
dcterms:Is Part Of	lp_eu:Takeover bids2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20001212.14.2-308"2
lpv:hasSubsequent	lp_eu:2000-12-12-Speech-2-3092
lpv:speaker	lp:Othmar Karas2
lpv:spokenAs	unknown; Österreichische Volkspartei (1999-07-20--2004-07-19)3 member; ECON (1999-07-21--2002-01-14)3 substitute; Committee on Culture, Youth, Education, the Media and Sport (1999-07-21--2002-01-14)3 treasurer; EPP-ED (1999-09-30--2004-07-19)3 member; Delegation to the EU-Hungary Joint Parliamentary Committee (1999-10-06--2002-01-14)3
lpv:translated text	"Mr President, Commissioner, ladies and gentlemen, it is very important that after more than ten years of deliberations at EU level the important question of the minimum harmonisation of take-over law can be regulated by a useful framework directive, although, as Mr Lehne said, the final proposal raises a few technical problems as also problems of content and we assume that unfortunately this proposal can only be improved through the conciliation procedure. But it should be pointed out that the situation has definitely changed since the first reading. Foreign investment within the EU doubled between 1997 and 1998 and cross-border mergers and take-overs have reached record levels. Hitherto we have not had binding rules on take-overs either in Community law or in the legislation of a good number of Member States. The directive on take-over bids therefore seems necessary to ensure fair competition and for reasons of legal certainty. I am in the fortunate position of being able to say that since 1 January 1999 Austria has had its own take-over legislation. Austrian take-over legislation, and in particular its implementation by the take-over commission, has more or less proved its worth since it entered into force. Here in the European Parliament we are chiefly concerned with finding minimum European rules to regulate the major fields of tension in take-over law, for instance the boards against the shareholders, large shareholders against small ones, companies against the stock market. Furthermore, it is essential for the Member States to have the possibility, in accordance with the overall objectives and in the framework of the directive, to adopt useful, further-reaching rules, such as for example the provision on the promotion of equal treatment of all shareholders that we have in our current Austrian take-over law, by ..."@en1
lpv:unclassifiedMetadata	"(The President cut the speaker off)"1

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