English Translation

181 - 4 companies and financial undertakings and industrial production will have major difficulties in obtaining the necessary capital through the purchase of shares or securities. We have therefore requested that no consent be given to this provision. For the sake of ensuring that our position is not taken into account, we have proposed that at least in the following cases it should not be necessary to sell shares or securities to financial institutions and companies: (a) If the sale of nostro shares is concerned, (b) if the sale is to be made to shareholders or employees, (c) if only a small quantity of shares or shares is sold (up to 5 units) may be considered 3) The Minister of Finance may make exceptions to the prohibitions mentioned above (No. In addition, we have requested that the motive report state that these exceptions are granted in the cases of the sale of shareholdings. Another draft, which concerns this issue, is the draft resolution on the issue of shares. Shares, sub-debt securities, Pfandbriefe, bank slips (K unale, Eizenbahn, melioration, industrial credit letters, etc.) and other such securities may only be issued with the approval of the Minister of Finance and subject to the conditions laid down at the time of granting of the authorization. Private insurance institutions and public social security institutions may grant loans of more than 5 million ECU only with the approval of the Ministry of Finance.