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Prospectus for the Public Offering of Securities in Europe from Part IV - Annexes
Published online by Cambridge University Press: 18 December 2009
THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty establishing the European Community, and in particular Articles 44 and 95 thereof
Having regard to the proposal from the Commission
Having regard to the opinion of the European Economic and Social Committee
Having regard to the opinion of the European Central Bank
Acting in accordance with the procedure laid down in Article 251 of the Treaty
Whereas:
Council Directives 80/390/EEC of 17 March 1980 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 and 89/298/EEC of 17 April 1989 coordinating the requirements for the drawing up, scrutiny and distribution of the prospectus to be published when transferable securities are offered to the public were adopted several years ago introducing a partial and complex mutual recognition mechanism which is unable to achieve the objective of the single passport provided for by this Directive. Those directives should be upgraded, updated and grouped together into a single text.
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