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DRAFT OPINION (COM(2024)0023 – C90011/2024 – 2024/0017(COD))

On the proposal for a regulation of the European Parliament and of the Council on the screening of foreign investments in the Union and repealing Regulation (EU) 2019/452 of the European Parliament and of the Council

ITRE-PA-763211

Committee on Industry, Research and Energy · Rapporteur: Pascale Piera

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The draft opinion supports the proposed regulation on screening foreign investments, aiming to protect security and public order while keeping Member State flexibility. It proposes amendments to clarify that the Commission may issue opinions only when negative effects are undeniable, and to make notifications to the Commission optional. It strengthens enforcement by allowing Member States to withdraw authorisations, add measures, or impose sanctions if mitigating measures are not complied with. It deletes the Commission's power to adopt delegated acts to amend annexes, ensuring legal certainty.

Committee position. The rapporteur proposes amendments to the proposed regulation to maintain Member State flexibility, strengthen enforcement of mitigating measures, give the Commission a proportionate role, and ensure legal certainty by deleting delegated powers.

Key points

  1. Member States should aim to ensure their screening mechanisms apply at least to investments requiring authorisation under Article 4(4).
  2. The Commission may issue a duly motivated opinion only if a foreign investment has an undeniably negative impact on security or public order, and must use secure and encrypted communication.
  3. Member States must give reasonable consideration to comments and opinions, not utmost consideration, and the procedure for further steps after an opinion is deleted.
  4. Notifications of screening decisions to other Member States must be in a secure and encrypted manner, and notification to the Commission becomes optional.
  5. Member States may ask for an explanation if a screening decision does not give reasonable consideration to comments, and the Commission may be informed of the outcome.
  6. Requests for additional information must be duly justified, strictly limited, proportionate, and not burdensome; Member States may send requests to the Commission simultaneously.
  7. The Commission may issue a duly motivated opinion on non-notified investments, with a deadline of 15 months after completion, and Member States may open their own initiative procedures.
  8. Comments and opinions in own-initiative procedures must be sent within 35 calendar days, and the additional 15 days for the Commission is deleted.
  9. The Commission may determine whether an investment has an undeniably negative impact, and Member States may consider criteria for likely negative effects.
  10. Screening decisions may take into account all circumstances, and if mitigating measures are not complied with, Member States may withdraw authorisation, add measures, impose financial sanctions, or periodic penalty payments.
  11. When withdrawing an authorisation or imposing sanctions, the Member State must notify other Member States that submitted observations within a reasonable timeframe.
  12. The article on delegated acts is deleted, removing the Commission's power to amend annexes.

Who is affected

  • Member States: must aim to screen investments in certain sectors, use secure communication, and may enforce mitigating measures.
  • Foreign investors: face potential withdrawal of authorisation, additional measures, or financial sanctions if they do not comply with mitigating measures.
  • European Commission: may issue opinions only in cases of undeniable negative impact, and loses delegated powers to amend annexes.

Figures and deadlines

  • 3 calendar days to notify screening decisions to Member States after sending to parties.
  • 7 calendar days to provide written explanation after notifying screening decision.
  • 15 months after completion for the Commission to issue an opinion on non-notified investments.
  • 35 calendar days to send comments or opinions after receiving complete information.