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He therefore proposes to adopt the amendments of Mr. Lehne, the draftsman of JURI Committee, which bring MVRs within the scope of Article 11, with the effect of neutralising them in a take-over situation. An exception could be French-style shares with double votes. The loss of MVRs should not be compensated for.
Mr Huhne proposes two different options of coping with MVR’s, either delaying the implementation of Articles 9 and 11 which foresee the removal of MVRs until 1 January 2010, or introducing a grandfathering clause.
The total number of amendments is now up to 220.
The Conference of Presidents decided on 6 March to accord the 'enhanced cooperation procedure' . EMAC vote on Mr. Huhne’s part of the Takeover Directive will be on 23 April 2003
Revised draft Opinion of Mr Huhne
Amendments 150-220