the slocking or display with a view to sale, offering for sale, sale, delivery or any other manner of disposal in the Community with the exception of retail sale, which must be subject to the checks laid down by national rules for retail business;

The consolidated annual report shall include at least a fair review of the development and performance of the business and of the position of the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.

the obligation not to take any measures or actions which may render the conditions for the establishment and operation of each other's companies more restrictive than the situation existing at the time of such examination, where not already foreseen herein, or

Such persons must maintain detailed records of all dealings in substances which may be used in the manufacture of veterinary medicinal products and keep these records available for inspection by the competent authorities for a period of at least three years.

The Council shall also periodically review the location of the Buffer Stocks and may, by special vote, direct the Buffer Stock Manager to change the location of the Buffer Stocks to ensure economic and efficient commercial operations.

The non-communicability of such information is intended to protect the legitimate interest of firms in preventing third parties from obtaining strategic information on their essential interests and on the operation or development of their business (9).

Officials and other accompanying persons authorised by the Commission to conduct an inspection shall exercise their powers upon production of a written authorisation specifying the subject matter and purpose of the inspection and the penalties provided for in Article 14, in the production of the required books or other records related to the business which is incomplete or where answers to questions asked under paragraph 2 of this Article are incorrect or misleading.

In addition to measures to enhance the transparency of the public sector financial accounts, a new system of monitoring and control of the operating results and the borrowing requirements of the public enterprises and the public entities will be introduced after consultation with the Commission by 30 June 1991. Cash limits on the disbursement of budget grants for the public enterprises and the public entities will be applied by the Government until the new system is effective.

In selecting the organisations for assessment, the Commission shall pay particular attention to the safety and pollution prevention performance records of the organisation, to the casualty records and to the reports produced by Member States in accordance with Article 12. The assessment may include a visit to regional branches of the organisation as well as random inspection of ships for the purpose of auditing the organisation's performance.

Whereas, in order to allow the new Member States to benefit from Community part-financing of certain measures regarding the monitoring of agricultural expenditure, it is appropriate to adapt certain provisions of Council Regulations (EEC) No 4045/89 of 21 December 1989 on scrutiny by Member States of transactions forming part of the system of financing by the Guarantee Section of the European Agricultural Guidance and Guarantee Fund(1), (EEC) No 307/91 of 4 February 1991 on reinforcing the monitoring of certain expenditure chargeable to the Guarantee Section of the European Agricultural Guidance and Guarantee Fund (2), (EEC) No 3508/92 of 27 November 1992 establishing an integrated administration and control system for certain Community aid schemes (3) and (EC) No 165/94 of 24 January 1994 concerning the co-financing by the Community of remote-sensing checks (4);

Fiscale Inlichtingen- en Opsporingsdienst (incl. Economische Controle dienst (ECD))/(Fiscal Information and Investigation Service (the Economic Investigation Service included))

The annual report must include at least a fair review of the development of the company's business and of its position.

THE CONSOLIDATED ANNUAL REPORT MUST INCLUDE AT LEAST A FAIR REVIEW OF THE DEVELOPMENT OF BUSINESS AND THE POSITION OF THE UNDERTAKINGS INCLUDED IN THE CONSOLIDATION TAKEN AS A WHOLE.

The assessment may include a visit to regional branches of the organisation as well as random inspection of ships for the purpose of auditing the organisation's performance.

The administrator shall submit the management accounts to the College of Auditors for examination and opinion by February following the end of the financial year.

Enhancement, in line with current best practice, of the existing requirement for these to present a fair review of the development of the business and of its position, in a manner consistent with the size and complexity of the business, is necessary to promote greater consistency and give additional guidance concerning the information a "fair review" is expected to contain.

It is appropriate moreover, for reasons of transparency, to draw up a new Annex to these CCI, concerning a table of representations for issuing uniform visas.

The competent authorities shall require institutions to set up systems to monitor and control the interest-rate risk on all of their business, and those systems shall be subject to overview by the competent authorities.

Whether a recourse mechanism is independent is a factual question that can be demonstrated in a number of ways, for example, by transparent composition and financing or a proven track record.

a significant change in the nature of the operations of the enterprise or a review of its financial statement presentation demonstrates that the change will result in a more appropriate presentation of events or transactions;

to carry out on-site inspections at the institution's premises and, where appropriate, on outsourced functions to check if activities are carried out in accordance with the supervisory rules.

The Commission shall examine the management and control systems in cooperation with the Member States and point out any shortcomings as regards the transparency of checks on the operation of the Fund and the performance of the Commission's duties under Article 274 of the EC Treaty.

The enterprise shall, not later than three months after the end of each financial year, submit to the Council for its consideration an annual report containing an audited statement of its accounts and shall transmit to the Council at appropriate intervals a summary statement of its financial position and a profit and loss statement showing the results of its operations.

Summary information regarding the extent to which the issuer is dependent, if at all, on patents or licences, industrial, commercial or financial contracts or new manufacturing processes, where such factors are of fundamental importance to the issuer's business or profitability.

The officials and other accompanying persons authorised by the Commission to conduct an inspection shall exercise their powers upon production of a written authorisation specifying the subject matter and purpose of the inspection and the penalties provided for in Article 23 in case the production of the required books or other records related to the business is incomplete or where the answers to questions asked under paragraph 2 of the present Article are incorrect or misleading.

"associated instruments" means the following financial instruments (including those which are not admitted to trading on a regulated market, or for which a request for admission to trading on such a market has not been made, provided that the relevant competent authorities have agreed to standards of transparency for transactions in such financial instruments):

While a few operators referred to in point 4.2 are highly profitable, the majority appear to be operating either in financial deficit or at close to break-even in postal operations, although information on underlying financial performance is limited, as relatively few operators publish relevant information of an auditable standard on a regular basis.

In accordance with the conclusions of the Lisbon European Council, the Council and Commission are to report by the end of 2000 on the ongoing review of EIB and EIF financial instruments in order to redirect funding towards business start-ups, high-tech firms and micro-enterprises, as well as other risk capital initiatives and guarantee arrangements proposed by the EIB and the EIF.

The report shall be accompanied by the information on the number and qualifications of staff undertaking the audit, on the work done, on the number of transactions examined, on the level of materiality and confidence obtained, on the weakness found and recommendations made for improvement, and on the operations of both the certifying body and other audit bodies, internal and external to the paying agencies, from which all or part of the certifying body's assurance on the matters reported was gained.

Whereas a mandatory code of conduct applicable to all computerized reservation systems and/or distribution facilities offered for use and/or used in the Community could ensure that such systems are used in a nondiscriminatory and transparent way, subject to certain safeguards, so avoiding their misuse while reinforcing undistorted competition between air carriers and between computerized reservation systems and thereby protecting the interests of consumers;

It is not the intention of this Directive to require the application of pre-trade transparency rules to transactions carried out on an OTC basis, the characteristics of which include that they are ad-hoc and irregular and are carried out with wholesale counterparties and are part of a business relationship which is itself characterised by dealings above standard market size, and where the deals are carried out outside the systems usually used by the firm concerned for its business as a systematic internaliser.

If a reasonable suspicion exists that books or other records related to the business and to the subject-matter of the inspection, which may be relevant to prove a serious violation of Article 81 or Article 82 of the Treaty, are being kept in any other premises, land and means of transport, including the homes of directors, managers and other members of staff of the undertakings and associations of undertakings concerned, the Commission can by decision order an inspection to be conducted in such other premises, land and means of transport.

At the request of the minister responsible for justice, the chairman of the circuit court shall carry out supervision of an execution officer's management of funds regardless of the provision from the preceding paragraph.