natgillin/translations-raw huggingface dataset:
г) дали кредитната институция ще бъде в състояние да изпълнява и да продължава да изпълнява благоразумните изисквания, основаващи се на настоящата директива и , където е приложимо, на други директиви, по-конкретно Директиви 2000/46/EО, 2002/87/EО and 2006/49/EО, и в частност, където е приложимо, дали групата, към която ще се числи въпросната кредитна институция, има структура, която позволява упражняване на ефективно наблюдение, ефективен обмен на информация и разпределяне на наблюдението между компетентните органи.
(d) whether the credit institution will be able to comply and continue to comply with the prudential requirements based on this Directive and , where applicable , other Directives, notably, Directives 2000/46/EC, 2002/87/EC and 2006/49/EC, in particular, where applicable, whether the group of which it will become a part has a structure that makes it possible to exercise effective supervision, effectively exchange information and determine the supervision between the competent authorities.
The rules referred to in this criteria should encompass the national implementation rules of prudential directives.
The rules referred to in this criteria should encompass the national implementation rules of prudential directives.
More over, the competent authorities should have the power to oppose the demand if there is no sufficient guarantee as regards the supervisor of the proposed acquirer.
More over, the competent authorities should have the power to oppose the demand if there is no sufficient guarantee as regards the supervisor of the proposed acquirer.
ЧЛЕН 5, ТОЧКА 3 Член 19a, параграф 2 (Директива 2006/48/EО)
ARTICLE 5, POINT 3 Article 19a, paragraph 2 (Directive 2006/48/EC)
Ако предложилият приобретател не получи такова искане до посочената дата, предоставената информация е счита за пълна.
If the proposed acquirer receives no such request by that date, the information provided shall be deemed to be complete.
ЧЛЕН 5, ТОЧКА 3 Член19 a, параграф 4, алинея 1 (Директива 2006/48/EО)
ARTICLE 5, POINT 3 Article19 a, paragraph 4, subparagraph 1 (Directive 2006/48/EC)
Държавите-членки оповестяват списък с необходимата информация за извършване на оценката по параграф 1.
Member States shall make publicly available a list specifying the information necessary to make the assessment under paragraph 1.
Държавите-членки съвместно изготвят и оповестяват стандартен списък с необходимата информация за извършване на оценката по параграф 1.
Member States shall jointly draw up and make publicly available a standard list specifying the information necessary to make the assessment under paragraph 1.
The information lists must be comparable between Member States, thus necessitating an assessment at European level.
The information lists must be comparable between Member States, thus necessitating an assessment at European level.
To achieve this harmonisation objective, the Commission must encourage Member States to draw up these lists by cooperating within the Lamfalussy committees.
To achieve this harmonisation objective, the Commission must encourage Member States to draw up these lists by cooperating within the Lamfalussy committees.
ЧЛЕН 5, ТОЧКА 3
ARTICLE 5, POINT 3
Член 19a, параграф 4, алинея 2 (Директива 2006/48/EО)
Article 19a, paragraph 4, subparagraph 2 (Directive 2006/48/EC)
Необходимата информация трябва да съответства и да бъде приспособена към естеството на предложението за придобиване или увеличаване на участието.
The information required shall be proportionate and adapted to the nature of the proposed acquisition or increase of holding.
Необходимата информация трябва да съответства и да бъде приспособена към естеството на предложилия приобретател и предложението за придобиване или увеличаване на участието.
The information required shall be proportionate and adapted to the nature of the proposed acquirer and the proposed acquisition or increase of holding .
ЧЛЕН 5, ТОЧКА 3 Член 19a, параграф 4, алинея 3 (Директива 2006/48/EО)
ARTICLE 5, POINT 3 Article 19a, paragraph 4, subparagraph 3 (Directive 2006/48/EC)
Член 19a, параграф 4, алинея 3a (нова) (Директива 2006/48/EО)
Article 19 a, paragraph 4, subparagraph 3 a (new) (Directive 2006/48/EC)
До + Комисията оценява дали списъците на държавите-членки са сравними и, ако е уместно, предприема всички необходими стъпки, за да се предвиди общностен подход.
The Commission shall, by + , assess whether Member States' lists are comparable, if appropriate, shall take the necessary steps to provide a Community approach.
ЧЛЕН 5, ТОЧКА 3 Член 19б, уводна част (Директива 2006/48/EО) , AM 109 and AM110
ARTICLE 5, POINT 3 Article 19b, introductory part (Directive 2006/48/EC) , AM 109 and AM110
Като допълнение към членове 19 и 19а и освен в случаите, когато е уточнено друго, оценката на придобиването в съответствие с член 19а, параграф 1 е предмет на член 129, параграф 3 , ако предложилият приобретател е, както следва:
In addition to Articles 19 and 19a and unless specified otherwise, the assessment of the acquisition in accordance with Article 19a(1) shall be subject to Article 129(3) if the proposed acquirer is one of the following:
Компетентните органи, отговарящи за наблюдението на кредитната институция, в която се иска придобиване, и компетентните органи, отговарящи за наблюдението на предложилия приобретател, работят при пълна консултация помежду си, когато оценяват придобиването в съответствие с член 19а, параграф 1, ако предложилият приобретател е, както следва:
The competent authorities responsible for the supervision of the credit institution in which the acquisition is sought, and the competent authorities responsible for the supervision of the proposed acquirer shall work in full consultation with each other when assessing the acquisition in accordance with Article 19a (1) if the proposed acquirer is one of the following:
ЧЛЕН 5, ТОЧКА 3 Член 19б, параграфи 1а (нов) и 1б (нов) (Директива 2006/48/EО)
ARTICLE 5, POINT 3 Article 19b, paragraphs 1 a (new) and 1 b (new) (Directive 2006/48/EC)
Компетентните органи без необосновано забавяне предоставят един на друг всяка информация, съществена или относима към оценката на придобиването.
The competent authorities shall, without undue delay, provide one another with any information which is essential or relevant for assessing the acquisition.
В решението на компетентния орган, издал разрешителното на кредитната институция, за която е направено предложението за придобиване, се посочват всички становища или резерви, изразени от страна на компетентния орган, отговарящ за наблюдението на предложилия приобретател.
A decision by the competent authority that has authorised and supervises the credit institution in which the proposed acquisition is sought shall indicate any views or reservations expressed by the competent authority responsible for supervising the proposed acquirer.
ЧЛЕН 5, ТОЧКА 3 Член 19в (Директива 2006/48/EО)
ARTICLE 5, POINT 3 Article 19c (Directive 2006/48/EC)
Комисията може да поиска от компетентните органи да предоставят своевременно копия на документите, на които те са се основавали при извършване на оценката, във връзка с членове 19, 19а и 19б, както и изложените пред предложилия приобретател причини.
The Commission may request the competent authorities to provide it promptly with copies of the documents on which they have based their assessment in relation to Articles 19, 19a and 19b as well as the reasons given to the proposed acquirer.
Информацията, предоставена на Комисията, е предмет на задължението за спазване на професионална тайна и се използва от нея единствено за целите на определяне на това дали дадена държава-членка е изпълнила своите задължения съгласно настоящата Директива.
The information provided to the Commission shall be covered by the obligation of professional secrecy and shall be used only for the purposes of determining whether a Member State has fulfilled its obligations under this Directive.
Поверителната информация , получена от Комисията съобразно параграф 1, не може да бъде разкривана на което и да е лице или орган освен в резюмирана или обобщена форма така, че да не могат да се идентифицират отделните предложили приобретатели или кредитни институции.
Confidential information which the Commission may receive by virtue of paragraph 1 shall not be divulged to any person or authority whatsoever, except in summary or collective form, such that individual proposed acquirers or the credit institutions concerned cannot be identified.
Поверителната информация не се разкрива на което и да е лице или орган освен в резюмирана или обобщена форма така, че да не могат да се идентифицират отделните предложили приобретатели или застрахователни предприятия.
Confidential information shall not be divulged to any person or authority whatsoever, except in summary or collective form, such that individual proposed acquirers or the credit institutions concerned cannot be identified.
ЧЛЕН 5, ТОЧКА 4A (нова) Член 21, параграф 3 (Директива 2006/48/EО)
ARTICLE 5, POINT 4 A (new) Article 21, paragraph 3 (Directive 2006/48/EC)
4а) Член 21, параграф 3 се заменя със следния:
(4a) Article 21(3) shall be replaced by the following:
При определяне на квалифицирано участие и други нива на участие, посочени в настоящия член и в членове 19 до 20, се вземат под внимание правата на глас, посочени в членове 9 и 10 от Директива 2004/109/ЕО."
In determining a qualifying holding and other levels of holding referred to in this Article and in Articles 19 to 20, the voting rights referred to in Articles 9 and 10 of Directive 2004/109/EC shall be taken into consideration."
The amendment updates Article 21(3) of the Directive to refer to the Transparency Directive, in line with Article 12(1).
The amendment updates Article 21(3) of the Directive to refer to the Transparency Directive, in line with Article 12(1).
It also ensures that the voting rights referred to in Articles 9 and 10 of the Transparency Directive are also taken into consideration in Articles 19 to 20 of the Directive, as well as in Article 21 of the Directive.
It also ensures that the voting rights referred to in Articles 9 and 10 of the Transparency Directive are also taken into consideration in Articles 19 to 20 of the Directive, as well as in Article 21 of the Directive.
ЧЛЕН 5, ТОЧКА 5 Член 129, параграф 3 (Директива 2006/48/EО)
ARTICLE 5, POINT 5 Article 129, paragraph 3 (Directive 2006/48/EC)
В член 129 се добавя следният параграф 3:
In Article 129, the following paragraph 3 is added:
При оценка в съответствие с член 19а, параграф 1 компетентният орган, който е издал разрешителното на кредитната институция, в която се цели придобиване, се консултира с компетентния орган на предложилия приобретател.
In the case of an assessment in accordance with Article 19a(1), the competent authority, which has authorised the credit institution in which the proposed acquisition is sought shall consult the competent authority of the proposed acquirer..
В решението на компетентния орган, издал разрешителното на кредитната институция, за която е направено предложението за придобиване, се посочват всички становища или резерви, изразени от страна на компетентния орган на приобретателя.“
A decision by the competent authority which has authorised the credit institution in which the proposed acquisition is sought shall indicate any views or reservations on the part expressed by of the competent authority of the acquirer.”
ЧЛЕН 6, ПАРАГРАФ 1, АЛИНЕЯ 1
ARTICLE 6, PARAGRAPH 1, SUBPARAGRAPH 1
Държавите-членки въвеждат в сила необходимите закони, подзаконови актове и административни разпоредби, за да приложат настоящата директива до […] 1 най-късно.
Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with this Directive by [...] 1 at the latest.
Те незабавно съобщават на Комисията текста на тези разпоредби и таблицата на съответствието между тези разпоредби и настоящата директива.
They shall forthwith communicate to the Commission the text of those provisions and a correlation table between those provisions and this Directive.
Шест месеца след влизане в сила на настоящата директива.
Six months after the entry into force of this Directive.
Дванадесет месеца след влизане в сила на настоящата директива.
Twelve months after the entry into force of this Directive.
Usually the implementation period is 12 months.
Usually the implementation period is 12 months.
This principle should be kept as this is a reasonable time period.
This principle should be kept as this is a reasonable time period.
An implementation period of 6 months would be too tight.
An implementation period of 6 months would be too tight.
During the informal ECOFIN Council in Scheveningen in September 2004, cross-border mergers and acquisitions activity in the financial and banking sectors was discussed.
During the informal ECOFIN Council in Scheveningen in September 2004, cross-border mergers and acquisitions activity in the financial and banking sectors was discussed.
It was perceived as significantly lower than in other sectors.
It was perceived as significantly lower than in other sectors.
Consequently, the Commission was asked to conduct a survey on potential barriers to financial consolidation within the internal market.
Consequently, the Commission was asked to conduct a survey on potential barriers to financial consolidation within the internal market.
In order to overcome this situation, legislative changes were considered to be necessary.
In order to overcome this situation, legislative changes were considered to be necessary.
Originally, only changes to the rules on banking supervisory assessment were foreseen.
Originally, only changes to the rules on banking supervisory assessment were foreseen.
Later, due to similarities between the relevant provisions applicable to banking and those on insurance and securities, and with the support of the ECOFIN ministers, the Commission proposed to change the supervisory assessment rules in all areas of the financial market: banking, insurance and investment firms.
Later, due to similarities between the relevant provisions applicable to banking and those on insurance and securities, and with the support of the ECOFIN ministers, the Commission proposed to change the supervisory assessment rules in all areas of the financial market: banking, insurance and investment firms.
This approach guarantees that comparable rules apply across the financial sector.
This approach guarantees that comparable rules apply across the financial sector.
It also brings needed clarity to cross-sectoral M&A.
It also brings needed clarity to cross-sectoral M&A.
The proposal of the Commission, published in September 2006, thus includes changes to the following Directives: 1992/49/EEC (insurance), 2002/83/EC (assurance), 2004/39/EC (investment firms), 2005/68/EC (reinsurance) and 2006/48/EC (banking).
The proposal of the Commission, published in September 2006, thus includes changes to the following Directives: 1992/49/EEC (insurance), 2002/83/EC (assurance), 2004/39/EC (investment firms), 2005/68/EC (reinsurance) and 2006/48/EC (banking).
The Main points of the Commission proposal:
The Main points of the Commission proposal:
The proposal follows a maximum harmonization approach as regards the notification procedure, the timeline of the assessment procedure and criteria to be applied to this assessment.
The proposal follows a maximum harmonization approach as regards the notification procedure, the timeline of the assessment procedure and criteria to be applied to this assessment.
It introduces clear deadlines for each step of the assessment procedure in Community legislation.
It introduces clear deadlines for each step of the assessment procedure in Community legislation.
The deadlines have been considerably tightened .
The deadlines have been considerably tightened .
Currently, supervisors have 3 months (or 65 working days) to conduct an assessment and may prolong this period for an unlimited time.
Currently, supervisors have 3 months (or 65 working days) to conduct an assessment and may prolong this period for an unlimited time.
The Commission proposal significantly reduces the assessment period to 30 working days (WD) .
The Commission proposal significantly reduces the assessment period to 30 working days (WD) .
The period can be extended to maximum of 40 WD if the competent authority requests further information, in which case the clock would stop for 10 another WD.
The period can be extended to maximum of 40 WD if the competent authority requests further information, in which case the clock would stop for 10 another WD.
The proposal clarifies the conditions and situations under which a competent authority can "stop the clock": this is possible only once and for a maximum period of 10 days.
The proposal clarifies the conditions and situations under which a competent authority can "stop the clock": this is possible only once and for a maximum period of 10 days.
In case of the involvement of third countries, the assessment may not exceed 50 WD or 60 WD respectively.
In case of the involvement of third countries, the assessment may not exceed 50 WD or 60 WD respectively.
The proposal lays down a "closed" list of the criteria against which a competent authority has to assess a potential acquirer.
The proposal lays down a "closed" list of the criteria against which a competent authority has to assess a potential acquirer.
There are 5 criteria proposed by the Commission:
There are 5 criteria proposed by the Commission:
I. reputation of the acquirer;
I. reputation of the acquirer;
II. reputation and experience of persons who direct the acquirer;
II. reputation and experience of persons who direct the acquirer;
III. financial soundness of the proposed acquirer;
III. financial soundness of the proposed acquirer;
IV. compliance with sectoral rules and obligations with Community legislation after the acquisition/merger;
IV. compliance with sectoral rules and obligations with Community legislation after the acquisition/merger;
V. suspicions of money laundering or terrorist financing
V. suspicions of money laundering or terrorist financing
These will be the only criteria to be assessed by competent authorities of Member States in the situations when the acquisition of a qualifying shareholding:
These will be the only criteria to be assessed by competent authorities of Member States in the situations when the acquisition of a qualifying shareholding:
i. occurs within one Member State ;
i. occurs within one Member State ;
ii. has cross-border or cross-sectoral dimension ;
ii. has cross-border or cross-sectoral dimension ;
iii. the acquirer is regulated outside the Community and has its head office outside the Community;
iii. the acquirer is regulated outside the Community and has its head office outside the Community;
iv. the potential acquirer is a non-regulated entity ;
iv. the potential acquirer is a non-regulated entity ;
v. the potential acquirer is a natural person
v. the potential acquirer is a natural person
vi. the potential acquirer is a management fund or custodian;
vi. the potential acquirer is a management fund or custodian;
Any future specifications and clarifications of the criteria in order to reflect market developments shall be done via comitology.
Any future specifications and clarifications of the criteria in order to reflect market developments shall be done via comitology.
The Commission proposal leaves upon Member States to determine a list of documents needed for the assessment process.
The Commission proposal leaves upon Member States to determine a list of documents needed for the assessment process.
However, it requires that only information relevant for the prudential assessment can be requested.
However, it requires that only information relevant for the prudential assessment can be requested.
Moreover, it has to be proportionate to the nature of the proposed acquisition or increase of holding.
Moreover, it has to be proportionate to the nature of the proposed acquisition or increase of holding.
It clarifies the situation when two or more Member States are involved in a merger or acquisition.
It clarifies the situation when two or more Member States are involved in a merger or acquisition.
It requires close cooperation/ consultation between the supervisors concerned.
It requires close cooperation/ consultation between the supervisors concerned.
The supervisor of the "target" maintains a decisive role.
The supervisor of the "target" maintains a decisive role.
Thus, the proposal does not imply any shift of responsibilities as compared to the current situation, but rather puts more emphasis on cooperation.
Thus, the proposal does not imply any shift of responsibilities as compared to the current situation, but rather puts more emphasis on cooperation.
The Commission clarifies that the burden of proof lies in case of a negative decision in the assessment process on the supervisory authority of the target.
The Commission clarifies that the burden of proof lies in case of a negative decision in the assessment process on the supervisory authority of the target.
The proposal introduces the right of the Commission to directly request from competent authorities the documents on which their assessment is based.
The proposal introduces the right of the Commission to directly request from competent authorities the documents on which their assessment is based.
Currently, the Commission may ask Member States to request prudential information from their supervisory authorities but in reality there is no obligation to provide access to such documents.
Currently, the Commission may ask Member States to request prudential information from their supervisory authorities but in reality there is no obligation to provide access to such documents.
Your rapporteur´s view
Your rapporteur´s view
Within a single market, M&A activity should be driven by business decisions, achievable benefits for consumers, and should be fully compliant with European competition law.
Within a single market, M&A activity should be driven by business decisions, achievable benefits for consumers, and should be fully compliant with European competition law.
Therefore, any unjustified barriers within the internal market have to be eliminated.
Therefore, any unjustified barriers within the internal market have to be eliminated.
However, it must be recalled that misuse of supervisory powers has been rare.
However, it must be recalled that misuse of supervisory powers has been rare.
Therefore, any changes to the assessment procedure should be aimed at preventing any future misuse, but must be proportionate and should not reduce supervisory powers unnecessarily.
Therefore, any changes to the assessment procedure should be aimed at preventing any future misuse, but must be proportionate and should not reduce supervisory powers unnecessarily.
Your rapporteur fully supports the principle of maximum harmonisation .
Your rapporteur fully supports the principle of maximum harmonisation .
This approach guarantees best common European conditions and procedures, legal certainty and clarity, and prevention of misuse.
This approach guarantees best common European conditions and procedures, legal certainty and clarity, and prevention of misuse.
Your rapporteur welcomes the streamlining of the assessment process, namely the fact that at the EU level clear deadlines for each step of the assessment procedure are to be set up, a maximum period for stopping the clock will be determined and that there is only one possibility to stop the clock for the defined period of 10 WD.
Your rapporteur welcomes the streamlining of the assessment process, namely the fact that at the EU level clear deadlines for each step of the assessment procedure are to be set up, a maximum period for stopping the clock will be determined and that there is only one possibility to stop the clock for the defined period of 10 WD.
However, your rapporteur understands that supervisory authorities need sufficient time to make a proper, reasoned and thorough assessment.
However, your rapporteur understands that supervisory authorities need sufficient time to make a proper, reasoned and thorough assessment.