No C 112/16 Official Journal of the European Communities 3. 5. 82 
present opinion and be reviewed and updated where 
necessary, especially with respect to the tripartite 
management of employment services, the public interest 
in placement services, the computerization of facilities, 
Done at Brussels, 24 February 1982. 
THE ECONOMIC AND SOCIAL COMMITTEE, 
Having regard to the Treaty establishing the European 
Economic Community, and in particular Articles 54 and 
198 thereof, 
Having regard to the request made by the Council of the 
European Communities on 26'January 1982 for an 
opinion on the proposal for a Directive amending Council 
Directive 79/279/EEC coordinating the conditions for 
the admission of securities to official stock exchange 
listing and Council Directive 80/390/EEC coordinating 
the requirements for the drawing up, scrutiny and 
distribution of the listing particulars to be published for 
the admission of securities to official stock exchange 
listing, 
Having regard to the Rules of Procedure, and in 
particular Article 18 thereof, 
Having regard to the decision taken by its Bureau on 
26 January 1982 and approved by the plenary session on 
25 February 1982 nominating a rapporteur-general to 
prepare an opinion on the matter, the establishment of a committee of the heads of 
employment departments and State-run agencies and the 
contribution to be made by the Social Fund. The ESC will 
be issuing a specific statement on the latter aspect. 
Having regard to the oral report made by the 
rapporteur-general, Mr Miller, 
Having regard to the discussions at its 195th plenary 
session held on 24 and 25 February 1982 (meeting of 
25 February), 
HAS ADOPTED THE FOLLOWING OPINION 
with one abstention: 
The Committee recalls its generally favourable 1974 and 
1976 opinions (*) on the drafts of Directives 
79/279/EEC and 80/390/EEC dealing respectively 
with the conditions governing stock exchange listing, and 
listing particulars to be published. It furthermore recalls 
its more recent opinion on the Commission's proposal to 
the Council on information to be published on a regular 
basis by companies whose shares are admitted to official 
(») OJ No C 125, 16. 10. 1974, p. 1. The Chairman of 
the Economic and Social Committee 
Tomas ROSEINGRAVE 
Opinion on the proposal for a Directive amending Council Directive 79/279/CEE 
coordinating the conditions for the admission of securities to official stock exchange listing and 
Council Directive 80/390/EEC coordinating the requirements for the drawing up, scrutiny 
and distribution of the listing particulars to be published for the admission of securities to 
official stock exchange listing 
The text referred to the Committee has not yet been published in the Official Journal of the 
European Communities. 
A. LEGAL BASIS FOR THE OPINION 
On 26 January 1982 the Council referred the abovementioned proposal to the Economic and 
Social Committee in accordance with Articles 54 and 198 of the Treaty establishing the 
European Economic Community. 
B. OPINION OF THE ECONOMIC AND SOCIAL COMMITTEE 
The Economic and Social Committee prepared its opinion on the above matter at its 195th 
plenary session held in Brussels on 24 and 25 February 1982. 
The full text of the opinion is as follows: 
3. 5. 82 Official Journal of the European Communities No C 112/17 
stock exchange listing, a proposal which the Committee 
generally supported subject to some specific 
modifications (1). 
The Committee agrees with the Commission that it would 
be logical to have the three Directives come into force in 
the Member States simultaneously. This would in fact 
mean a postponement of the introduction by Member 
(M OJ No C 53, 3. 3. 1980, p. 54. 
Done at Brussels, 25 February 1982. 
The full text of the opinion is as follows: 
THE ECONOMIC AND SOCIAL COMMITTEE, 
Having regard to the Treaty establishing the European 
Economic Community, and in particular Article 54 
thereof, 
Having regard to the request made by the Council of the 
European Communities on 9 April 1981 for an opinion 
on the proposal for a Council Directive on annual 
accounts of banks and other financial establishments, 
Having regard to the decision taken by its Bureau on 
10 April 1981 instructing the Section for Industry, 
Commerce, Crafts and Services to prepare an opinion and 
a report on the matter, 
Having regard to the opinion adopted by the Section for 
Industry, Commerce, Crafts and Services at its meeting 
held on 3 February 1982, 
Having regard to the report made by the rapporteur, 
Mr Miller, 
Having regard to the discussions at its 195th plenary 
session held on 24 and 25 February 1982 (meeting of 
24 February), States of Directives 79/279/EEC and 80/390/EEC 
since the earliest that the 'periodic information' 
Directive (2) will come into effect is 30 June 1983. 
Accordingly, therefore, the Committee can support this 
proposal. 
(2) Council Directive 82/121/EEC (OJ No L 48, 20. 2. 
1982). 
The Chairman of 
the Economic and Social Committee 
Tomas ROSEINGRAVE 
HAS ADOPTED THE FOLLOWING OPINION 
by 67 votes to 65, with three abstentions: 
A. General remarks 
1. The Committee agrees wholeheartedly with the 
Commission that credit institutions have a duty to inform 
staff, customers, shareholders and the public at large of 
all relevant information regarding their activities. 
However, although it agrees with the object of the draft 
proposal for the drawing up of the annual accounts of 
banks and financial institutions, it cannot, even with the 
best will in the world, endorse the Directive in its present 
form for the reasons set out in the next paragraph. 
2. The Committee objects particularly to the fact that 
the proposal takes the form of referential legislation, 
embodying many of the provisions of the Fourth Directive 
on company law. In the opinion of the Committee, 
referential legislation, as a general rule, is undesirable, 
because it: Opinion on the proposal for a Council Directive on annual accounts of banks and other 
financial establishments 
The text referred to the Committee has been published in Official Journal of the European 
Communities No C 130 of 1 June 1981, page 1. 
A. LEGAL BASIS FOR THE OPINION 
On 9 April 1981 the Council referred the abovementioned proposal to the Economic and Social 
Committee in accordance with Article 54 of the Treaty establishing the European Economic 
Community. 
B. OPINION OF THE ECONOMIC AND SOCIAL COMMITTEE 
The Economic and Social Committee prepared its opinion on the above matter at its 195th 
plenary session held in Brussels on 24 and 25 February 1982.