oj oj oj oj oj oj seventh council direct june base articl treati consolid account eec council european commun regard treati establish european econom commun articl thereof regard propos commiss regard opinion european parliament regard opinion econom social committe juli council adopt direct eec coordin nation legisl govern annual account type compani compani member bodi undertak consolid account drawn financi inform bodi undertak convei member parti nation legisl govern consolid account coordin order achiev object compar equival inform compani publish commun juli council adopt direct eec coordin nation power control base major vote right base agreement permit member state possibl occur permit cover case circumst control effect exercis basi minor hold member state permit cover case bodi undertak undertak exist equal foot aim coordin legisl govern consolid account protect interest subsist compani share capit protect impli principl prepar consolid account compani member bodi undertak account drawn compani parent undertak full inform requir subsidiari undertak parent undertak draw consolid account parent undertak circumst exempt oblig draw consolid account provid member parti suffici protect bodi undertak exceed size exempt oblig prepar consolid account justifi maximum limit set exempt therefrom member state provid suffici exce limit criteria exempt appli adopt limit lower prescrib direct consolid account give true fair view asset liabil financi posit profit loss undertak consolid consolid principl includ undertak consolid requir full incorpor asset liabil incom expenditur undertak separ disclosur interest person outwith bodi correct made elimin effect financi relat undertak consolid number principl relat prepar consolid account valuat context account laid order ensur item disclos consist readili compar method valuat period cover account particip interest capit undertak undertak includ consolid exercis signific influenc includ consolid account mean equiti method note consolid account give detail undertak consolid derog origin provid transit basi direct eec continu subject review date adopt direct section condit prepar consolid account articl member state requir undertak govern nation law draw consolid account consolid annual report undertak parent undertak major sharehold member vote right undertak subsidiari undertak appoint remov major member administr manag supervisori bodi undertak subsidiari undertak time sharehold member undertak exercis domin influenc undertak subsidiari undertak sharehold member pursuant contract enter undertak provis memorandum articl associ law govern subsidiari undertak permit subject contract provis member state prescrib parent undertak sharehold member subsidiari undertak member state law provid contract claus requir appli provis sharehold member undertak aa major member administr manag supervisori bodi undertak subsidiari undertak held offic financi year preced financi year time consolid account drawn appoint sole result exercis vote right bb control pursuant agreement sharehold member undertak subsidiari undertak major sharehold member vote right undertak member state introduc detail provis form content agreement member state prescrib arrang refer bb make applic aa depend hold repres sharehold member vote right aa appli undertak right refer subparagraph regard subsidiari undertak case mention paragraph pend subsequ coordin member state requir undertak govern nation law draw consolid account consolid annual report undertak parent undertak hold particip interest defin articl direct eec undertak subsidiari undertak exercis domin influenc subsidiari undertak manag unifi basi parent undertak articl purpos articl vote right right appoint remov subsidiari undertak person act behalf parent undertak subsidiari undertak ad parent undertak purpos articl right mention paragraph reduc right attach share held behalf person parent undertak subsidiari thereof attach share held secur provid right question exercis accord instruct receiv held connect grant loan part normal busi activ provid vote right exercis interest person provid secur purpos articl total sharehold member vote right subsidiari undertak reduc vote right attach share held undertak subsidiari undertak undertak person act behalf undertak articl prejudic articl parent undertak subsidiari undertak undertak consolid regist offic subsidiari undertak situat purpos paragraph subsidiari undertak subsidiari undertak consid subsidiari undertak parent undertak parent undertak consolid articl purpos direct parent undertak subsidiari undertak undertak consolid parent undertak subsidiari undertak establish type compani germani die aktiengesellschaft die kommanditgesellschaft auf aktien die gesellschaft mit beschraenkt haftung belgium la societ anonym de naamloz vennootschap la societ en commandit par action de commanditair vennootschap op aandelen la societ de personn responsabilit limite de personenvennootschap met beperkt aansprakelijkheid denmark aktieselskab kommanditaktieselskab anpartsselskab franc la societ anonym la societ en commandit par action la societ responsabilit limite greec ireland public compani limit share guarante privat compani limit share guarante itali la societa azioni la societa accomandita azioni la societa responsabilita limitata luxembourg la societ anonym la societ en commandit par action la societ responsabilit limite netherland de naamloz vennootschap de besloten vennootschap met beperkt aansprakelijkheid unit kingdom public compani limit share guarante privat compani limit share guarante member state grant exempt oblig impos articl parent undertak establish type compani list paragraph articl member state grant exempt oblig impos articl parent undertak financi hold compani defin articl direct eec interven financi year directli indirectli manag subsidiari undertak exercis vote right attach particip interest respect appoint member subsidiari undertak administr manag supervisori bodi financi year preced financi year exercis vote right oper administr manag supervisori bodi subsidiari undertak sharehold member parent undertak major vote right member administr manag supervisori bodi undertak member thereof major vote right member administr manag supervisori bodi subsidiari undertak member bodi appoint fulfil function interfer influenc part parent undertak subsidiari undertak made loan undertak hold particip interest loan made parti repaid end previou financi year exempt grant administr author fulfil condit check financi hold compani exempt articl direct eec appli annual account respect major hold subsidiari undertak date provid articl disclosur respect major hold provid point articl direct eec omit natur prejudici compani sharehold member subsidiari member state make omiss subject prior administr judici author omiss disclos note account articl prejudic articl member state provid exempt oblig impos articl balanc sheet date parent undertak undertak consolid basi latest annual account exce limit criteria laid articl direct eec member state requir permit set refer articl elimin refer articl effect aforement limit calcul case limit balanc sheet total net turnov criteria increas articl direct eec appli criteria articl appli undertak consolid compani secur admit offici list stock exchang establish member state year date refer articl member state multipli criteria express ecu increas averag number person emploi financi year maximum articl notwithstand articl member state exempt oblig impos articl parent undertak govern nation law subsidiari undertak parent undertak govern law member state case parent undertak hold share exempt undertak share undertak held member administr manag supervisori bodi pursuant oblig law memorandum articl associ purpos parent undertak hold share exempt undertak remain sharehold member undertak approv exempt law member state prescrib consolid case time adopt direct member state appli provis year date refer articl exempt condit complianc condit exempt undertak prejudic articl subsidiari undertak consolid account larger bodi undertak parent undertak govern law member state aa consolid account refer consolid annual report larger bodi undertak drawn parent undertak bodi audit law member state parent undertak larger bodi undertak govern accord direct bb consolid account refer consolid annual report refer aa report person respons audit account appendix refer articl publish exempt undertak manner prescrib law member state govern undertak accord articl member state requir document publish offici languag translat certifi note annual account exempt undertak disclos aa regist offic parent undertak draw consolid account refer bb exempt oblig draw consolid account consolid annual report member state appli articl compani secur admit offici list stock exchang establish member state articl case cover articl member state prejudic articl exempt oblig impos articl parent undertak govern nation law subsidiari undertak parent undertak govern law member state provid condit set articl fulfil sharehold member exempt undertak minimum proport subscrib capit undertak request prepar consolid account month end financi year member state fix proport public limit liabil compani limit partnership share capit undertak type member state make condit exempt parent undertak prepar consolid account articl govern nation law member state make exempt subject condit prepar audit consolid account refer articl articl member state make exempt provid articl depend disclosur addit inform accord direct consolid account refer articl appendix thereto inform requir undertak govern nation law member state oblig prepar consolid account circumst member state make exempt depend disclosur note consolid account refer articl annual account exempt undertak inform bodi undertak parent undertak exempt oblig draw consolid account amount fix asset net turnov profit loss financi year amount capit reserv averag number person emploi financi year articl articl affect member state legisl draw consolid account consolid annual report document requir inform employe repres administr judici author purpos articl prejudic articl member state exempt oblig impos articl parent undertak govern nation law subsidiari undertak parent undertak govern law member state condit fulfil exempt undertak prejudic articl subsidiari undertak consolid account larger bodi undertak consolid account refer consolid annual report drawn accord direct manner equival consolid account consolid annual report drawn accord direct consolid account refer audit person author audit account nation law govern undertak drew articl bb appli member state provid exempt articl exempt articl articl prejudic articl member state requir undertak govern nation law draw consolid account consolid annual report undertak undertak connect articl manag unifi basi pursuant contract conclud undertak provis memorandum articl associ undertak administr manag supervisori bodi undertak undertak connect articl consist major part person offic financi year consolid account drawn paragraph appli undertak relat defin paragraph subsidiari undertak undertak consolid defin direct undertak establish type compani list articl articl appli consolid account consolid annual report cover articl refer parent undertak understood refer undertak paragraph prejudic articl item quot capit quot quot share premium account quot quot revalu reserv quot quot reserv quot quot profit loss brought forward quot quot profit loss financi year quot includ consolid account aggreg amount attribut undertak paragraph articl undertak includ consolid account materi purpos articl undertak satisfi requir paragraph includ consolid account materi purpos articl addit undertak includ consolid account sever long term restrict substanti hinder aa parent undertak exercis right asset manag undertak bb exercis unifi manag undertak relationship defin articl inform prepar consolid account accord direct obtain disproportion expens undu delai share undertak held exclus view subsequ resal articl activ undertak consolid inclus consolid account incompat oblig impos articl undertak prejudic articl direct exclud consolid paragraph applic virtu fact undertak consolid partli industri partli commerci partli provid servic undertak carri industri commerci activ involv product provid servic applic paragraph reason therefor disclos note account annual consolid account undertak exclud consolid publish member state accord direct eec attach consolid account made public case obtain copi document request price copi exce administr cost articl member state purpos articl permit omiss consolid account parent undertak carri industri commerci activ hold share subsidiari undertak basi joint arrang undertak includ consolid account annual account parent undertak attach consolid account made derog articl direct eec appli parent undertak annual account inform result applic note account section prepar consolid account articl consolid account compris consolid balanc sheet consolid profit loss account note account document constitut composit consolid account drawn accord direct consolid account give true fair view asset liabil financi posit profit loss undertak includ applic provis direct suffici give true fair view mean paragraph addit inform except case applic provis articl incompat oblig impos paragraph provis depart order give true fair view mean paragraph departur disclos note account explan reason statement effect asset liabil financi posit profit loss member state defin except case question lai relev special rule member state requir permit disclosur consolid account inform disclos accord direct articl articl direct eec appli respect layout consolid account prejudic provis direct take account essenti adjust result characterist consolid account compar annual account special circumst entail undu expens member state permit stock combin consolid account articl asset liabil undertak includ consolid incorpor full consolid balanc sheet articl book valu share capit undertak includ consolid set proport repres capit reserv undertak set effect basi book valu date undertak includ consolid time differ aris set off enter directli item consolid balanc sheet valu book valu member state requir permit set off basi valu identifi asset liabil date acquisit share event acquisit stage date undertak subsidiari differ remain applic result applic shown separ item consolid balanc sheet head item method signific relat preced financi year explain note account offset posit neg differ author member state breakdown differ note account paragraph appli share capit parent undertak held undertak undertak includ consolid consolid account share treat share accord direct eec articl member state requir permit book valu share held capit undertak includ consolid set percentag capit provid share held repres nomin absenc nomin account par share undertak share kind articl direct eec proport refer attain pursuant arrang provid issu share undertak includ consolid arrang refer includ cash payment exceed nomin absenc nomin account par share issu differ aris paragraph ad deduct consolid reserv applic method paragraph result movement reserv name regist offic undertak concern disclos note account articl amount attribut share subsidiari undertak includ consolid held person undertak includ consolid shown consolid balanc sheet separ item head articl incom expenditur undertak includ consolid incorpor full consolid profit loss account articl amount profit loss attribut share subsidiari undertak includ consolid held person undertak includ consolid shown consolid profit loss account separ item head articl consolid account drawn accord principl enunci articl articl method consolid appli consist financi year derog provis paragraph permit except case derog disclos note account reason assess effect asset liabil financi posit profit loss undertak includ consolid articl consolid account show asset liabil financi posit profit loss undertak includ consolid singl undertak debt claim undertak includ consolid elimin consolid account incom expenditur relat transact undertak includ consolid elimin consolid account profit loss result transact undertak includ consolid includ book valu asset elimin consolid account pend subsequ coordin member state elimin mention effect proport percentag capit held parent undertak subsidiari undertak includ consolid member state permit derog provis paragraph transact conclud normal market condit elimin profit loss entail undu expens derog disclos effect asset liabil financi posit profit loss undertak includ consolid materi fact disclos note consolid account derog provis paragraph permit amount concern materi purpos articl articl consolid account drawn date annual account parent undertak member state requir permit consolid account drawn date order account balanc sheet date largest number import undertak includ consolid made derog fact disclos note consolid account reason therefor addit account disclosur made import event asset liabil financi posit profit loss undertak includ consolid occur undertak balanc sheet date consolid balanc sheet date undertak balanc sheet date preced consolid balanc sheet date month undertak consolid basi interim account drawn consolid balanc sheet date articl composit undertak includ consolid chang significantli financi year consolid account includ inform make comparison success set consolid account meaning chang major member state requir permit oblig fulfil prepar adjust open balanc sheet adjust profit loss account articl asset liabil includ consolid account valu uniform method accord articl direct eec undertak draw consolid account appli method valuat annual account member state requir permit consolid account method valuat accord abovement articl direct eec made derog fact disclos note consolid account reason therefor asset liabil includ consolid account valu undertak includ consolid method differ consolid revalu accord method consolid result revalu materi purpos articl departur principl permit except case departur disclos note consolid account reason account consolid balanc sheet consolid profit loss account differ aris consolid tax chargeabl financi year preced financi year amount tax paid payabl respect year provid probabl actual charg tax aris forese futur undertak includ consolid asset includ consolid account subject except adjust sole tax purpos incorpor consolid account adjust elimin member state requir permit asset incorpor consolid account elimin adjust provid amount reason disclos note consolid account articl separ item defin articl correspond posit consolid differ dealt accord rule laid direct eec item quot goodwil quot member state permit posit consolid differ immedi deduct reserv articl amount shown separ item defin articl correspond neg consolid differ transfer consolid profit loss account differ correspond expect date acquisit unfavour futur result undertak expect cost undertak incur expect materi differ correspond realiz gain articl undertak includ consolid manag undertak jointli undertak includ consolid member state requir permit inclus undertak consolid account proport right capit held undertak includ consolid articl appli mutati mutandi proport consolid refer paragraph articl appli articl appli undertak proportion consolid undertak defin articl articl undertak includ consolid exercis signific influenc oper financi polici undertak includ consolid undertak hold particip interest defin articl direct eec particip interest shown consolid balanc sheet separ item head undertak presum exercis signific influenc undertak sharehold member vote right undertak articl appli articl appli time particip interest cover paragraph particip interest shown consolid balanc sheet book calcul accord valuat rule laid direct eec differ amount proport capit reserv repres particip interest disclos separ consolid balanc sheet note account differ calcul date method time amount proport undertak capit reserv repres particip interest differ amount book calcul accord valuat rule laid direct eec disclos separ consolid balanc sheet note account differ calcul date method time member state prescrib applic consolid balanc sheet note account addit purpos member state requir permit calcul differ date acquisit share acquir stage date undertak undertak undertak asset liabil valu method consolid accord articl purpos calcul differ refer paragraph revalu method consolid revalu carri fact disclos note account member state requir revalu book refer paragraph amount proport undertak capit reserv refer paragraph increas reduc amount variat place financi year proport undertak capit reserv repres particip interest reduc amount dividend relat particip interest posit differ refer paragraph relat categori asset liabil dealt accord articl proport profit loss undertak attribut particip interest shown consolid profit loss account separ item head elimin refer articl effect fact ascertain articl appli undertak draw consolid account forego provis appli capit reserv shown consolid account articl appli particip interest capit undertak materi purpos articl articl addit inform requir provis direct note account set inform respect matter valuat method appli item consolid account method emploi calcul adjust item includ consolid account origin express foreign currenc base convers express currenc consolid account drawn disclos name regist offic undertak includ consolid proport capit held undertak includ consolid parent undertak undertak includ consolid person act name behalf undertak condit refer articl applic articl form basi consolid carri disclosur omit consolid carri basi articl proport capit proport vote right held inform respect undertak exclud consolid pursuant articl prejudic articl explan exclus undertak refer articl name regist offic undertak undertak includ consolid articl proport capit held undertak includ consolid person act name behalf undertak inform respect undertak refer articl reason appli provis name regist offic undertak proportion consolid pursuant articl factor joint manag base proport capit held undertak includ consolid person act name behalf undertak regist offic undertak refer paragraph undertak includ consolid exclud pursuant articl person act name behalf undertak hold percentag capit member state fix show proport capit held amount capit reserv profit loss latest financi year undertak concern account adopt inform omit purpos articl neglig import inform capit reserv profit loss omit undertak concern publish balanc sheet capit held directli indirectli abovement undertak total amount shown ow consolid balanc sheet due payabl year total amount shown ow consolid balanc sheet cover valuabl secur furnish undertak includ consolid indic natur form secur total amount financi commit includ consolid balanc sheet inform assist assess financi posit undertak includ consolid commit pension affili undertak includ consolid disclos separ consolid net turnov defin articl direct eec broken categori activ geograph market take account manner sale product provis servic fall ordinari activ undertak includ consolid organ categori market differ substanti averag number person emploi financi year undertak includ consolid broken categori disclos separ consolid profit loss account staff cost relat financi year averag number person emploi financi year undertak articl appli disclos separ extent calcul consolid profit loss financi year affect valuat item derog principl enunci articl direct eec articl direct made financi year question earlier financi year view obtain tax relief influenc valuat futur tax charg undertak includ consolid materi detail disclos differ tax charg consolid profit loss account financi year earlier financi year amount tax payabl respect year provid differ materi purpos futur taxat amount disclos balanc sheet cumul amount separ item head amount emolu grant respect financi year member administr manageri supervisori bodi parent undertak reason respons parent undertak subsidiari undertak commit aris enter condit respect retir pension member bodi indic total categori member state requir emolu grant reason respons assum undertak link articl includ inform sentenc amount advanc credit grant member administr manageri supervisori bodi parent undertak undertak subsidiari undertak indic interest rate main condit amount repaid commit enter behalf guarante kind indic total categori member state requir advanc credit grant undertak link articl includ inform sentenc articl member state disclosur prescrib articl form statement deposit accord articl direct eec disclos note account omit natur prejudici undertak affect provis member state make omiss subject prior administr judici author omiss disclos note account paragraph appli inform prescrib articl section consolid annual report articl consolid annual report includ fair review develop busi posit undertak includ consolid respect undertak report give indic import event occur end financi year futur develop undertak activ undertak field research develop number nomin absenc nomin account par parent undertak share held undertak subsidiari undertak undertak person act behalf undertak member state requir permit disclosur particular note account section audit consolid account articl undertak draw consolid account audit person author audit account law member state govern undertak person person respons audit consolid account verifi consolid annual report consist consolid account financi year section public consolid account articl consolid account duli approv consolid annual report opinion submit person respons audit consolid account publish undertak drew consolid account laid law member state govern accord articl direct eec subparagraph articl direct eec appli respect consolid annual report substitut subparagraph articl direct eec quot obtain copi part report request price copi exce administr cost quot undertak drew consolid account establish type compani list articl requir nation law publish document refer paragraph manner prescrib articl direct eec make public head offic obtain copi document request price copi exce administr cost articl direct eec appli member state provid sanction failur compli public oblig impos articl section transit final provis articl time consolid account drawn accord direct bodi undertak connect articl applic provis refer articl member state requir permit purpos articl account book hold proport capit reserv repres date consolid paragraph appli mutati mutandi valuat purpos articl hold proport capit reserv repres capit undertak undertak includ consolid proport consolid refer articl separ item defin articl correspond posit consolid differ aros date consolid account drawn accord direct member state purpos articl permit calcul limit period year provid articl direct eec date consolid account drawn accord direct purpos articl permit deduct made reserv date consolid account drawn accord direct articl expiri deadlin impos applic nation law direct supplement direct eec harmon rule govern annual account bank financi institut insur undertak member state derog provis direct layout consolid account method valu item includ account inform note account regard undertak consolid bank financi institut insur undertak undertak consolid compris princip bank financi institut insur undertak derog articl limit criteria appli undertak concern member state requir undertak bank financi institut insur undertak draw consolid account implement provis refer articl nation law implement direct mention paragraph respect financi year end suspend applic oblig impos articl respect undertak parent undertak fact disclos annual account parent undertak inform prescrib point articl direct eec subsidiari undertak consolid account drawn prejudic articl permit omiss consolid undertak subsidiari undertak inform prescrib articl note account respect subsidiari undertak case refer paragraph annual consolid account subsidiari undertak public compulsori attach consolid account absenc consolid account annual account parent undertak made public case obtain copi document request price copi exce administr cost articl undertak connect articl bb undertak similarli connect aforement undertak affili undertak purpos direct direct eec member state prescrib prepar consolid account pursuant articl aa articl undertak connect articl undertak connect similarli connect paragraph aforement undertak affili undertak defin paragraph member state prescrib prepar consolid account pursuant articl aa articl appli paragraph articl articl appli member state appli articl exclud applic paragraph affili undertak parent undertak virtu legal form requir member state draw consolid account accord provis direct parent undertak similar legal form articl substitut articl direct eec quot articl oblig show annual account item prescrib articl relat affili undertak defin articl direct eec oblig provid inform undertak accord articl point articl enter forc date fix articl direct note account disclos regist offic undertak draw consolid account largest bodi undertak compani form part subsidiari undertak regist offic undertak draw consolid account smallest bodi undertak compani form part subsidiari undertak includ bodi undertak refer place copi consolid account refer obtain provid quot articl substitut articl direct eec quot articl notwithstand provis direct eec eec member state appli provis direct content audit public annual account compani govern nation law subsidiari undertak defin direct eec condit fulfil parent undertak subject law member state sharehold member subsidiari undertak declar agreement exempt oblig declar made respect financi year parent undertak declar guarante commit enter subsidiari undertak declar refer publish subsidiari undertak laid law member state accord articl direct eec subsidiari undertak includ consolid account drawn parent undertak accord direct eec exempt disclos note consolid account drawn parent undertak consolid account refer consolid annual report report person respons audit account publish subsidiari undertak laid law member state accord articl direct eec quot articl substitut articl direct eec quot articl member state appli provis direct audit public profit loss account compani govern nation law parent undertak purpos direct eec condit fulfil parent undertak draw consolid account accord direct eec includ consolid account exempt disclos note annual account parent undertak exempt disclos note consolid account drawn parent undertak profit loss parent compani determin accord direct shown balanc sheet parent compani quot articl substitut articl direct eec quot articl member state requir permit particip interest defin articl capit undertak oper financi polici signific influenc exercis shown balanc sheet accord paragraph item item quot share affili undertak quot quot particip interest quot case undertak presum exercis signific influenc undertak sharehold member vote right undertak articl direct eec appli articl appli particip interest cover paragraph shown balanc sheet book calcul accord articl differ amount proport capit reserv repres particip interest disclos separ balanc sheet note account differ calcul date method appli time amount proport capit reserv repres particip interest differ amount book calcul accord articl disclos separ balanc sheet note account differ calcul date method appli time member state prescrib applic paragraph balanc sheet note account addit appli member state requir permit calcul differ date acquisit particip interest refer paragraph acquisit place stage date hold particip interest mean paragraph asset liabil undertak particip interest mean paragraph held valu method compani draw annual account purpos calcul differ refer paragraph revalu method compani draw annual account disclosur made note account revalu carri member state requir revalu book refer paragraph amount proport capit reserv refer paragraph increas reduc amount variat place financi year proport capit reserv repres particip interest reduc amount dividend relat particip interest posit differ cover paragraph relat categori asset liabil dealt accord rule applic item quot goodwil quot proport profit loss attribut particip interest mean paragraph shown profit loss account separ item head amount exce amount dividend receiv payment claim amount differ reserv distribut sharehold member state requir permit proport profit loss attribut particip interest refer paragraph shown profit loss account extent amount dividend receiv payment claim elimin refer articl direct eec effect fact ascertain articl direct appli undertak particip interest mean paragraph held draw consolid account forego paragraph appli capit reserv shown consolid account articl appli particip interest defin paragraph materi purpos articl quot articl substitut articl direct eec quot articl member state appli provis point articl direct amount capit reserv profit loss undertak concern compani govern nation law parent undertak purpos direct eec undertak concern includ consolid account drawn parent undertak consolid account larger bodi undertak refer articl direct eec hold undertak concern dealt parent undertak annual account accord articl consolid account drawn parent undertak accord articl direct eec quot articl contact committe set pursuant articl direct eec facilit prejudic articl treati harmon applic direct regular meet deal practic problem aris connect applic advis commiss addit amend direct articl direct affect law member state requir consolid account undertak fall jurisdict includ file regist branch undertak list articl member state bring forc law regul administr provis compli direct januari forthwith inform commiss thereof member state provid provis refer paragraph appli consolid account financi year begin januari calendar year member state ensur commun commiss text main provis nation law adopt field cover direct articl year date refer articl council act propos commiss examin revis articl subparagraph light experi acquir appli direct aim direct econom monetari situat time paragraph affect articl direct eec articl direct address member state luxembourg june council presid tietmey