WRITTEN QUESTION E-1292/00 by Olle Schmidt (ELDR) to the Council. UCITS (Undertakings for Collective Investments in Transferable Securities).
C 89 E/24 Official Journal of the European Communities EN 20. 3. 2001 (2001/C 89 E/021) WRITTEN QUESTION E-1292/00 by Olle Schmidt (ELDR) to the Council (27 April 2000) Subject: UCITS (Undertakings for Collective Investments in Transferable Securities) The market in various kinds of financial services has developed rapidly in recent years. It is therefore important for modernisation of the relevant legislation to keep pace with these changes. Much still remains to be done before there is a functioning internal market in this sector. The European Parliament voted on the UCITS report, for which I was rapporteur, in February. What action has the Portuguese Presidency taken to ensure progress is made on this issue? How much debate has taken place on the subject, and what does the Council consider to be the biggest stumbling blocks? Can the Council give any indication as to when it envisages adopting a common position? Reply (23 October 2000) The Council is currently examining the two proposals, as amended by the Commission on 30 May 2000, for a Directive amending Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) and the amendments proposed by the European Parliament in February 2000. Several meetings have been organised within the Council to analyse the amendments proposed by the European Parliament and the Commissionís amended proposals. On 17 July the Council held a policy debate on the proposals. Following that debate, the Council took the view that it was necessary to reach political agreement in the course of October on the first Directive and called for rapid progress on the second Directive with a view to reaching political agreement on the latter before 1 March 2001. At that date it would be necessary to take stock of adoption of the first Directive. (2001/C 89 E/022) WRITTEN QUESTION P-1301/00 by Ursula Stenzel (PPE-DE) to the Commission (12 April 2000) Subject: Sapard and ISPA funds for Poland In recent weeks there have been signs of dissension between Poland and the EU, underlying which there are no doubt specific problems, particularly regarding the release of Sapard and ISPA resources. On the Polish side, it is said that the rural development and infrastructure items in the Polish budget are blocked because the European Union has so far omitted to announce the rules governing the use of these funds. The Commission is blamed for the delay. 1. What is the real reason why Sapard and ISPA funds are still in the pipeline? 2. What measures need to be taken by the Polish authorities for the amounts concerned to be made available?