Keywords
Summary

Keywords

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FREE MOVEMENT OF CAPITAL - LIBERALIZATION OF CAPITAL MOVEMENTS - TRANSACTIONS QUALIFYING FOR GENERAL PERMISSION UNDER ARTICLE 2 ( 1 ) OF THE DIRECTIVE OF 11 MAY 1960 - PURCHASES BY RESIDENTS OF DOMESTIC SECURITIES ON A FOREIGN MARKET - EXCLUSION

( COUNCIL DIRECTIVE OF 11 MAY 1960, AS AMENDED, ART . 2 ( 1 ), ANNEX I, LIST B )

Summary

ARTICLE 2 ( 1 ) OF THE FIRST COUNCIL DIRECTIVE FOR THE IMPLEMENTATION OF ARTICLE 67 OF THE TREATY, AS AMENDED, MUST BE INTERPRETED AS MEANING THAT ITS SCOPE, AS DELIMITED BY LIST B OF ANNEX I TO THE DIRECTIVE, DOES NOT COVER TRANSACTIONS WHICH, ACCORDING TO THE EXPLANATORY NOTES TO THE DIRECTIVE, CONSTITUTE PURCHASES BY RESIDENTS OF DOMESTIC SECURITIES ON A FOREIGN MARKET .