Press Release: Internal Market: infringement proceedings against Spain, Sweden, Luxembourg, Ireland and Greece

The European Commission on 15 July 2005 decided to refer Spain to the European Court of Justice over its national legislation which enables discrimination against shareholders by listed companies when they issue new shares and convertible bonds. The Commission also decided, under Article 228 of the EC Treaty, to send two letters of formal notice asking the Member States concerned for full information on their execution of previous European Court judgements: the first to Sweden relating to the Court judgement requiring it to write the Directive 2001/17/EC on the reorganisation and winding-up of insurance undertakings ('the Winding Up Directive') into national law, and the second to Luxembourg relating to the Court judgement requiring it to implement EU law on legal protection of biotechnological inventions. The Commission formally asked Ireland to amend its legislation on insurance cover for blameless drivers of uninsured vehicles. Finally, the Commission sent a supplementary reasoned opinion to Greece with regard to Greek rules imposing a mandatory membership in the Greek National Association of Insurers for all undertakings providing motor insurance services in Greece.