Traduction de «Principe de la fixité du capital » (Français → Anglais) :

Since the objectives of this Regulation, namely to ensure uniform requirements apply to the marketing of qualifying venture capital funds and to establish a simple registration system for managers of qualifying venture capital funds, thereby facilitating the marketing of qualifying venture capital funds throughout the Union, while taking full account of the need to balance safety and reliability associated with the use of the designation ‘EuVECA’ with the efficient operation of the venture capital market and the cost for its various stakeholders, cannot be sufficiently achieved by the Member States and can therefore, by reason of its sca ...[+++]le and effects, be better achieved at Union level, the Union may adopt measures in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union.

Articles 43 EC, 49 EC and 86 EC do not preclude the direct award of a public service which entails the prior execution of certain works, such as that at issue in the main proceedings, to a semi-public company formed specifically for the purpose of providing that service and possessing a single corporate purpose, the private participant in the company being selected by means of a public and open procedure after verification of the financial, technical, operational and management requirements specific to the service to be performed and of the characteristics of the tender with regard to the service to be delivered, provided that the tendering procedure in question is consistent with the principles ...[+++] of free competition, transparency and equal treatment laid down by the EC Treaty with regard to concessions.

As regards the non-payment of SNCB’s invoices by IFB, the Belgian authorities consider that SNCB’s Management Board were not informed of the fact the IFB was no longer settling SNCB’s invoices until December 2002, i.e. when it had decided in principle to increase IFB’s capital.

the period between 19 July 2002 and 20 December 2002 (date of the decision by SNCB’s Management Board to approve the principle of an increase in IFB’s capital and authorising the executive committee to negotiate the framework contract of 7 April 2003),

At least 50 % of the capital invested in any fund shall be provided by investors operating in circumstances corresponding to normal market conditions (under the ‘market economy investor principle’), irrespective of the legal nature and ownership structure of the investors providing that part of the capital.

At least 50 % of the capital invested in any fund shall be provided by investors operating in circumstances corresponding to normal market conditions (under the market economy investor principle), irrespective of the legal nature and ownership structure of the investors providing that part of the capital.