Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-04-21-Speech-3-223"
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"en.20040421.8.3-223"2
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I voted in favour of this report, in which the Commission advocates updating the European regulatory framework on company law and corporate governance, by proposing measures aimed at: increasing businesses' competitiveness as a crucial component of economic growth and job creation, improving protection for shareholders and creditors and enhancing the transparency of the way in which businesses operate.
Nevertheless, although I endorse the report and although the rapporteur is a socialist, I voted against the amendments tabled at a later stage by the Socialist Group.
Nor could I accept paragraph 21 of the original text which, using the fallacious argument that it would ensure equal treatment for all shareholders, calls on the Commission to accept the principle of ‘one share one vote’.
Unlike what is put forward in that paragraph, the terms of equal treatment for shareholders have nothing to do with the principle of ‘one share one vote’.
In addition to being a matter for social organisations, the rules linking the social participation of shareholders with the right to vote are rules of proportionality, in which equality is fully respected."@en1
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