Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-010"
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".
I believe that we are now at a time when we must do as much as we can to keep alive commercial companies in Europe and, in particular, find those incentives to make successful businesses capable of providing as many jobs as possible. Such an initiative is all the more important now during the period of crisis we are going through. I welcome the Commission’s proposal for a directive to simplify the reporting procedures in the case of mergers and divisions because its objective is to cut European companies’ administrative costs by 25% by 2012, the precise aim being to boost their competitiveness.
The report which we have drafted and which we will vote on tomorrow reflects the Commission’s thinking and is guided in particular by the following few factors. Firstly, the reporting obligations in the case of mergers and divisions must be reduced so as to offer Member States and companies greater flexibility in deciding which reports they really need on a case-by-case basis. At the same time, provisions resulting at the moment in double reporting, thereby incurring unnecessary costs, must be removed. Thirdly, the rules on publishing and providing information must be adapted to the new realities involving the use of the Internet so that we make full use of these new means of communication, while also conveying a message about protecting the environment. We must not forget either that the measures stipulated by the directives currently in force on providing information to shareholders were thought up 30 years ago and have never been adapted for the current technological options available. I would like to sincerely thank the shadow rapporteurs for the close cooperation we have had with them and for their support throughout this process of drafting the report. I would also like to thank the representatives of the Council and Commission for making themselves available and approachable over these recent months.
On 7 April COREPER reached an agreement on the entire compromise package negotiated with Parliament with the aim of adopting a directive on mergers and divisions at first reading. We would like this to happen, which is precisely the reason why many amendments have been submitted for tomorrow’s plenary session vote, by adopting the compromise which we reached during the informal trialogue. Issues which were of major concern to some Member States, such as publication in local newspapers or the provision of hard copies and the use of the Internet were resolved, and the representatives of the political groups have given their consent to these amendments. With regard to publishing information in local newspapers, this practice will still be possible in those Member States which will consider this to be necessary. Regarding hard copies, the rule is that they will no longer be necessary if shareholders have the opportunity to download and print the documents, but Member States can arrange for commercial companies to provide these documents at their office for consultation.
Another important compromise relates to the date of the directive’s implementation, which will be 30 June 2011, as specified in the Commission’s proposal. Member States will also have the opportunity to decide what the consequences will be in the event of temporary disruption to Internet access as a result of technical problems. A substantial amendment relates to simplified mergers and divisions, when general meetings will no longer be required to approve them. Based on applying these simplified procedures alone, it is estimated that savings of around EUR 154 million will be made every year, which makes it worth us adopting this directive at first reading."@en1
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