FOR฀ DECISIONS฀ OF฀ COMMERCIAL฀ UNDERTAKINGS฀ CONCERNING฀ THE฀ UNDERTAKINGgS฀ WINDING UP฀ D E M E R G E R ฀ OR฀ M E R G E R ฀ THE฀ DISPOSAL฀ OR฀ C H A R G IN G ฀ OF฀ THE฀ A S SETS฀ OR฀ S H A RE HOLDINGS฀ NECESSARY฀ FOR฀ THE฀ A T T A IN M E N T ฀ OF฀ THE฀ UNDERTAKINGgS฀ O B J E C T ฀ A฀ CHANGE฀ IN฀ THE฀ UNDERTAKINGgS฀ O B J E C T ฀ AND฀ DEALINGS฀IN฀THE฀SHARE฀CAPITAL฀WHICH฀RESULT฀IN฀THE฀3TATEgS฀SHAREHOLDING฀IN฀THE฀UNDERTAKING฀ BEING฀ REDUCED ฀ 4HE฀ SECOND฀ JUDGMENT฀CONCERNS฀ASPECTS฀OF฀ THE฀SCHEME฀ FOR฀PRIVATISING฀ THE฀"RITISH฀!IRPORTS฀ !UTHORITY฀WITH฀ REGARD฀ TO฀ LIMITING฀ THE฀ POSSIBILITY฀ OF฀ ACQUIRING฀ VOTING฀ SHARES฀ IN฀"!!฀ AND฀ TO฀ THE฀ PROCEDURE฀ REQUIRING฀ CONSENT฀ TO฀ DISPOSAL฀ OF฀ THE฀ COMPANYgS฀ A S SETS฀ TO฀ THE฀CONTROL฀OF฀SUBSIDIARIES฀AND฀ TO฀ THE฀COMPANYgS฀WINDING UP฀ & O L L O W IN G ฀ THE฀ CASE LAW฀ REFERRED฀ TO฀ ABOVE฀ THE฀#OURT฀ REJECTED฀ THE฀ ARGUMENT฀ THAT฀ THERE฀WAS฀ NO฀ DISCRIMINATION฀ AGAINST฀ NATIONALS฀ OF฀ OTHER฀-EMBER฀ 3TATES฀ ON฀ THE฀GROUND฀ THAT฀ THE฀PROHIBITION฀ LAID฀DOWN฀ IN฀!RTICLE฀ ฀ %#฀ GOES฀ BEYOND฀ THE฀MERE฀ ELIMINATION฀ OF฀ UNEQUAL฀ TREATMENT฀ ON฀ GROUNDS฀ OF฀ NATIONALITY฀ AS฀ BETWEEN฀ OPERATORS฀ ON฀ THE฀FINANCIAL฀ MARKETS฀ 4HE฀RESTRICTIONS฀IN฀QUESTION฀AFFECTED฀THE฀POSITION฀OF฀A฀PERSON฀ACQUIRING฀A฀SHAREHOLDING฀ AS฀SUCH฀AND฀WERE฀THUS฀LIABLE฀TO฀DETER฀INVESTORS฀FROM฀OTHER฀-EMBER฀3TATES฀FROM฀MAKING฀ SUCH฀ IN V E S T M E N T S ฀ AND฀ CONSEQUENTLY฀ AFFECT฀ ACCESS฀ TO฀ THE฀MARKET฀ )N฀ THE฀ " ! !฀ JUDGMENT฀ THE฀#OURT฀ FURTHER฀ HELD฀ THAT฀ THE฀ RESTRICTIONS฀ AT฀ ISSUE฀ DID฀ NOT฀ ARISE฀ AS฀ THE฀ RESULT฀ OF฀ THE฀ NORMAL฀OPERATION฀OF฀COMPANY฀ LAW฀ SINCE฀ THE฀-EMBER฀3TATE฀ACTED฀ IN฀ ITS฀CAPACITY฀AS฀A฀ PUBLIC฀ AUTHORITY฀ # ON S E Q U E N T L Y ฀ THE฀ RULES฀ AT฀ ISSUE฀ CONSTITUTED฀ A฀ RESTRICTION฀ ON฀ THE฀ MOVEMENT฀ OF฀ CAPITAL฀ FOR฀ THE฀PURPOSES฀OF฀ !RTICLE฀ ฀%#฀AND฀ BY฀MAINTAINING฀ THEM฀ IN฀ FORCE฀ THE฀5NITED฀+INGDOM฀ FAILED฀ TO฀ FULFIL฀ ITS฀ OBLIGATIONS฀ UNDER฀ THAT฀PROVISION฀ )N฀ #OMMISSION V฀3PAIN ฀ HAVING฀ HELD฀ THAT฀ THERE฀WAS฀ A฀ RESTRICTION฀ ON฀ MOVEMENTS฀ OF฀ CAPITAL฀ PARAGRAPH฀ ฀ THE฀#OURT฀ EXAMINED฀WHETHER฀ THERE฀ MIGHT฀ BE฀ A฀ JUSTIFICATION฀ FOR฀ IT฀ )N฀ THAT฀ RESPECT฀ IT฀ CONFIRMED฀ ITS฀PREVIOUS฀CASE LAW฀ WHEREBY฀ CONCERNS฀ WHICH฀ MIGHT฀ JUSTIFY฀ THE฀ RETENTION฀ BY฀-EMBER฀ 3TATES฀ OF฀ A฀ DEGREE฀ OF฀ INFLUENCE฀ WITHIN฀ UNDERTAKINGS฀ THAT฀ WERE฀ INITIALLY฀PUBLIC฀AND฀SUBSEQUENTLY฀PRIVATISED฀CANNOT฀ENTITLE฀-EMBER฀3TATES฀TO฀PLEAD฀THEIR฀ OWN฀ SYSTEMS฀ OF฀ PROPERTY฀ OWNERSHIP฀ REFERRED฀ TO฀ IN฀!RTICLE฀ ฀ %#฀ BY฀ WAY฀ OF฀ JUSTIFICATION฀ FOR฀ O B S T A C L E S ฀ RESULTING฀ FROM฀PRIVILEGES฀ATTACHING฀ TO฀ THEIR฀ POSITION฀AS฀ SHAREHOLDER฀ IN฀ A฀ P R I V A T I S E D ฀ UNDERTAKING฀ TO฀ THE฀ EXERCISE฀ OF฀ THE฀ FREEDOMS฀ PROVIDED฀ FOR฀BY฀ THE฀4REATY฀ 3UCH฀ JUSTIFICATION฀ MAY฀ RESULT฀ ONLY฀ FROM฀ REASONS฀ REFERRED฀ TO฀ IN฀!RTICLE฀ ฀ %#฀ OR฀ FROM฀ OVERRIDING฀ REQUIREMENTS฀OF฀ THE฀GENERAL฀ INTEREST฀ & U R T H E R MORE฀ IN฀ORDER฀ TO฀BE฀ SO฀ JUSTIFIED฀ THE฀NATIONAL฀ LEGISLATION฀HAD฀ TO฀BE฀SUITABLE฀ FOR฀ SECURING฀ THE฀OBJECTIVE฀WHICH฀ IT฀ PURSUED฀ AND฀ MUST฀ NOT฀ GO฀BEYOND฀WHAT฀WAS฀NECESSARY฀ IN฀ORDER฀ TO฀ATTAIN฀ IT฀ SO฀ AS฀ TO฀ A C C O R D ฀ WITH฀ THE฀PRINCIPLE฀ OF฀ PROPORTIONALITY฀ 4HAT฀ WAS฀ NOT฀ THE฀ CASE฀ H E RE ฀ )N฀ THIS฀CASE฀ THE฀#OURT฀ FOUND฀ THAT฀ THERE฀ WERE฀ NO฀ OBJECTIVE฀ PRECISE฀ CRITERIA฀ SUFFICIENT฀ TO฀ENSURE฀ THAT฀ THE฀SCHEME฀ IN฀QUESTION฀DID฀NOT฀ GO฀BEYOND฀WHAT฀WAS฀NECESSARY฀ IN฀ORDER฀ TO฀MEET฀ THE฀OBJECTIVE฀OF฀ SAFEGUARDING฀SUPPLIES฀ IN฀THE฀EVENT฀OF฀CRISIS฀ IN฀ THE฀ P E T R O L E U M ฀ TELECOMMUNICATIONS฀ AND฀ E L E C T R I C I T Y ฀ S E C T O R S ฀ AND฀ TO฀ENSURE฀ THAT฀ THE฀ADMINISTRATIVE฀AUTHORITIESg฀PARTICULARLY฀BROAD฀ DISCRETION฀ IN฀ THIS฀ AREA฀ WOULD฀ REMAIN฀ UNDER฀ CONTROL฀ )N฀ THE฀CASE฀OF฀ 3 A L Z M A N N ฀ REFERRED฀ TO฀ IN฀ PARAGRAPH฀ ฀ ABOVE฀ THE฀#OURT฀ WAS฀ CALLED฀ UPON฀ TO฀ E X A M IN E ฀ FIRST฀WHETHER฀ !RTICLE฀ ฀ %#฀ PRECLUDES฀ NATIONAL฀ LEGISLATION฀WHICH฀ MAKES฀THE฀PURCHASE฀OF฀ LAND฀SUBJECT฀ TO฀PRIOR฀ADMINISTRATIVE฀AUTHORISATION฀AND฀PROVIDES฀ THAT฀ APART฀ FROM฀ CASES฀ WHERE฀ THE฀ ACQUISITION฀ IS฀ CARRIED฀OUT฀ WITH฀ A฀ VIEW฀ TO฀ ESTABLISHING฀ A฀ HOLIDAY฀ HOME฀ AUTHORISATION฀ IS฀ TO฀BE฀ GRANTED฀ FOR฀ ACQUISITIONS฀ OF฀ UNBUILT฀ PLOTS฀ OF฀ LAND฀ WHERE฀ THE฀ACQUIRER฀HAS฀PLAUSIBLY฀DEMONSTRATED฀ THAT฀ THE฀ P L O T ฀ WILL฀ WITHIN฀ A฀ REASONABLE฀
Domen av den 5 augusti 2003 i de fûrenade mìlen T-116/01 och T-118/01, P & O European Ferries (Vizcaya) och Diputaciùn Foral de Vizcaya mot kommissionen(REG 2003, s. II-0000; ûverklagad till domstolen under mìlnummer C-442/03 P), utgûr en av fûljderna av fûrstainstansrêttens dom av den 28 januari 1999 i mìl T-14/96, BAImot kommissionen (REG 1999, s. II-139). I sistnêmnda dom hade fûrstainstansrêtten ogiltigfûrklarat ett beslut av kommissionen pì grund av att den ansìg att ett avtal som hade ingìtts mellan, ì den ena sidan, Diputaciùn Foral de Vizcaya (Biscayas provinsstyrelse) och den baskiska regeringens ministerium fûr handel och turism och, ì den andra sidan, P & O European Ferries (nedan kallat P & O Ferries), inte utgjorde statligt stûd. Avtalet avsìg inrêttandet av en fêrjelinje och genom avtalet kûpte de myndigheter som var parter i detta resekuponger som skulle anvêndas pì linjen Bilbao-Portsmouth. Efter att ha ìterupptagit fûrfarandet fûr att beakta fûljderna av fûrstainstansrêttens dom, konstaterade kommissionen att êven om Diputaciùn hade uppgett att den genom kûpet av resekuponger avsìg att underlêtta eller subventionera resorna fûr vissa av dess invìnare, sì hade dock det totala inkûpet av resekuponger inte faststêllts utifrìn myndighetens verkliga behov och motsvarade sìledes inte de sociala behov som hade ìberopats.41