European Parliament legislative resolution on the initiative of the Federal Republic of Germany and the Republic of Finland with a view to the adoption of a Council regulation on insolvency proceedings (9178/1999 – C5-0069/1999 — 1999/0806(CNS))
C 346/80 Official Journal of the European Communities EN 4. 12. 2000 Thursday 2 March 2000 6. Insolvency proceedings * A5-0039/2000 Initiative of the Federal Republic of Germany and the Republic of Finland with a view to the adoption of a Council regulation on insolvency proceedings (9178/1999 * C5-0069/1999 * 1999/0806(CNS)) The initiative was amended as follows: TEXT OF INITIATIVE (1) AMENDMENTS BY PARLIAMENT (Amendment 1) Recital 10 regulation applies (10) This equally to all proceedings, whether the debtor is a natural person or a legal person, a tra- der or an individual. Insolvency proceedings concerning insur- ance undertakings, credit institutions, investment undertakings holding funds or securities for third parties and collective investment undertakings are excluded from the scope of this regulation. Such undertakings are not covered by the regulation since they are subject to special arrangements and, to some extent, the national supervisory authorities have extremely wide-ranging powers of intervention; regulation applies (10) This equally to all proceedings, whether the debtor is a natural person or a legal person, a tra- der or an individual. Insolvency proceedings concerning insur- ance undertakings, credit institutions, investment undertakings holding funds or securities for third parties and collective investment undertakings are excluded from the scope of this regulation. Such undertakings are not covered by the regulation since they are subject to special arrangements and, to some extent, the national supervisory authorities have extremely wide-ranging powers of intervention. With regard to insur- ance undertakings, however, special arrangements exist only for the original (direct) insurers. In the case of insol- vency proceedings relating to a reinsurer, therefore, the general rules laid down in this regulation apply; (Amendment 2) Recital 13 Insolvency proceedings may be opened in the Member (13) State where the debtor has the centre of his main interests. Main insolvency proceedings have universal scope, they aim at encompassing all the debtor’s assets on a world-wide basis and at affecting all creditors, wherever located. The centre of main interests is taken as meaning a place with which a debtor reg- ularly has very close contacts, in which his manifold commer- cial interests are concentrated and in which the bulk of his assets is for the most part situated. The creditor is also very familiar with that place. Insolvency proceedings may be opened in the Member (13) State where the debtor has the centre of his main interests. Main insolvency proceedings have universal scope, they aim at encompassing all the debtor’s assets on a world-wide basis, while preserving the legal independence of legal persons, and at affecting all creditors, wherever located. The centre of main interests is taken as meaning a place with which a debtor regularly has very close contacts, in which his manifold com- mercial interests are concentrated and in which the bulk of his assets is for the most part situated. The creditor is also very familiar with that place. (Amendment 6) Article 29(b) (b) any other person or authority empowered to request the opening of insolvency proceedings under the law of the Member State within the territory of which the opening of secondary proceedings is requested. (b) any other person or authority empowered to request the opening of insolvency proceedings under the law of the Member State within the territory of which the opening of secondary proceedings is requested, provided that that person informs the liquidator in the main pro- ceedings without delay. (1) OJ C 221, 3. 8. 1999, p. 8. 4. 12. 2000 EN Official Journal of the European Communities C 346/81 TEXT OF INITIATIVE Thursday 2 March 2000 AMENDMENTS BY PARLIAMENT Article 45 Amendment of the Annexes (Amendment 4) Article 45 Deleted The Annexes to this Regulation may be amended by decision of the Council. (Amendment 5) Article 45a (new) Article 45a Implementation Five years after the entry into force of this regulation, the Commission shall submit to the Council, the European Parliament and the Economic and Social Committee a report on experience of its implementation. This report shall, if appropriate, incorporate proposals for improving the regulation. European Parliament legislative resolution on the initiative of the Federal Republic of Germany and the Republic of Finland with a view to the adoption of a Council regulation on insolvency proceedings (9178/1999 * C5-0069/1999 * 1999/0806(CNS)) (Consultation procedure) The European Parliament, ? having regard to the initiative of the Federal Republic of Germany and the Republic of Finland (9178/1999) (1), ? having been consulted by the Council pursuant to Article 61(c) and Article 67(1) of the EC Treaty (C5-0069/1999), ? having regard to Rule 67 of its Rules of Procedure, ? having regard to the report of the Committee on Legal Affairs and the Internal Market and the opi- nion of the Committee on Citizens’ Freedoms and Rights, Justice and Home Affairs (A5-0039/2000), 1. 2. Approves the initiative as amended; Calls on the Council to alter the initiative accordingly; If the Council intends to depart from the text approved by Parliament, calls on the Council to notify 3. Parliament; 4. 5. Asks to be consulted again if the Council intends to amend the initiative substantially; Instructs its President to forward its position to the Council. (1) OJ C 221, 3. 8. 1999, p. 8