b develop the legal, financial and professional frameworks which make possible joint action by public authorities, experts, owners, investors, businesses, non-governmental organisations and civil society;

The selection of the most appropriate variant or the solution most appropriate in expert terms for the project documentation shall be made by a special expert evaluation commission. The expert evaluation commission shall consist of individuals that are appointed members by the relevant professional chamber and individuals that are appointed members by the investor. The composition of the expert evaluation commission must be such that the members appointed by the investor are in the majority and the predominance of the profession is ensured.

A public tender shall be organised by the investor in conjunction with the relevant professional chamber in accordance with rules on tenders, which shall be issued by the minister responsible for spatial planning and construction matters to define the works and buildings for which a tender is mandatory and to set out in detail the procedure for preparing and holding public tenders.

Measures to protect investors should be adapted to the particularities of each category of investors (retail, professional and counterparties).

(25) Modern communication methods make it possible for financial market professionals and private investors to have more equal access to financial information, but also increase the risk of the spread of false or misleading information.

Other professional and institutional investors.

Professional and institutional investors, including:

Measures to protect investors should be adapted to the particularities of each category of investors (retail, professional and counterparties).

Whereas some Member States have investor-compensation schemes under the responsibility of professional organizations;

for paid employment and self-employed economic activities (professionals, investors, talents, imported workers, domestic helpers etc.), or

the investor works or has worked for at least one year in the financial sector in a professional position which requires knowledge of securities investment.

Member States may make the exercise of this right subject to express authorization, taking into account investors' differing needs for protection and in particular the ability of professional and institutional investors to act in their own best interests.

whereas it is therefore appropriate to take account of the different requirements for protection of various categories of investors and of their levels of professional expertise;

Where an investment firm executes an order, for the purposes of applying the rules referred to in paragraph 1 the professional nature of the investor shall be assessed with respect to the investor from whom the order originates, regardless of whether the order was placed directly by the investor himself or indirectly through an investment firm providing the service referred to in Section A (1) (a) of the Annex.

Modern communication methods make it possible for financial market professionals and private investors to have more equal access to financial information, but also increase the risk of the spread of false or misleading information.