COUNCIL DIRECTIVE
of 24 June 1988
for the implementation of Article 67 of the Treaty
(88/361/EEC)
Article 1
Article 2
Article 3
Article 4
Article 5
Article 6
Article 7
Article 8
Article 9
Article 10
ANNEX I
NOMENCLATURE OF THE CAPITAL MOVEMENTS REFERRED TO IN ARTICLE 1 OF THE DIRECTIVE
I — DIRECT INVESTMENTS(1)
(1) II — INVESTMENTS IN REAL ESTATE (not included under I)(1)
III — OPERATIONS IN SECURITIES NORMALLY DEALT IN ON THE CAPITAL MARKET (not included under I, IV and V)
A —
Transactions in securities on the capital market
B —
Admission of securities to the capital market
(2)
IV — OPERATIONS IN UNITS OF COLLECTIVE INVESTMENT UNDERTAKINGS(2)
A —
Transactions in units of collective investment undertakings
B —
Administration of units of collective investment undertakings to the capital market
V — OPERATIONS IN SECURITIES AND OTHER INSTRUMENTS NORMALLY DEALT IN ON THE MONEY MARKET(2)
A —
Transactions in securities and other instruments on the money market
B —
Admission of securities and other instruments to the money market
VI — OPERATIONS IN CURRENT AND DEPOSIT ACCOUNTS WITH FINANCIAL INSTITUTIONS(3)
VII — CREDITS RELATED TO COMMERCIAL TRANSACTIONS OR TO THE PROVISION OF SERVICES IN WHICH A RESIDENT IS PARTICIPATING(3)
VIII — FINANCIAL LOANS AND CREDITS (not included under I, VII and XI)(3)
IX — SURETIES, OTHER GUARANTEES AND RIGHTS OF PLEDGE
X — TRANSFERS IN PERFORMANCE OF INSURANCE CONTRACTS
A —
Premiums and payments in respect of life assurance
B —
Premiums and payments in respect of credit insurance
C —
Other transfers of capital in respect of insurance contracts
XI — PERSONAL CAPITAL MOVEMENTS
XII — PHYSICAL IMPORT AND EXPORT OF FINANCIAL ASSETS
XIII — OTHER CAPITAL MOVEMENTS
EXPLANATORY NOTES
Direct investments
Investments in real estate
Introduction on a stock exchange or on a recognized money market
Securities dealt in on a stock exchange (quoted or unquoted)
Issue of securities and other negotiable instruments
Placing of securities and other negotiable instruments
Domestic or foreign securities and other instruments
Shares and other securities of a participating nature
Bonds
Collective investment undertakings
Securities and other instruments normally dealt in on the money market
Credits related to commercial transactions or to the provision of services
Financial loans and credits
Residents or non-residents
Proceeds of liquidation (of investments, securities, etc.)
Natural or legal persons
Financial institutions
Credit institutions
ANNEX II
LIST OF OPERATIONS REFERRED TO IN ARTICLE 3 OF THE DIRECTIVE
Nature of operation |
Heading |
||
Operations in securities and other instruments normally dealt in on the money market |
V |
||
Operations in current and deposit accounts with financial institutions |
VI |
||
Operations in units of collective investment undertakings |
IV-A and B (c) |
||
|
|
||
Financial loans and credits |
VIII-A and B-l |
||
|
|
||
Personal capital movements |
XI-A |
||
|
|
||
Physical import and export of financial assets |
XII |
||
|
|
||
|
|
||
Other capital movements: Miscellaneous |
XIII-F |
||
|
|
||
The restrictions which Member States may apply to the capital movements listed above must be defined and applied in such a way as to cause the least possible hindrance to the free movement of persons, goods and services. |
ANNEX III
REFERRED TO IN ARTICLE 5 OF THE DIRECTIVE
Articles of the Art of Accession (dates of expiry of transitional provisions) |
Nature of operation |
Heading |
|
(a) Provisions concerning the Kingdom of Spain |
|||
Article 62 (31.12.1990) |
Direct investments abroad by residents |
I-B |
|
Article 63 (31.12.1990) |
Investments in real estate abroad by residents |
II-B |
|
Article 64 (31.12.1988) |
Operations in securities normally dealt in on the capital market |
|
|
|
III-A-2 |
||
|
|
||
Operations in units of collective investment undertakings |
|
||
|
IV-A-2 |
||
|
|
||
(b) Provisions concerning the Portuguese Republic |
|||
Article 222 (31.12.1989) |
Direct investments on national territory by non-residents |
I-A |
|
Article 224 (31.12.1992) |
Direct investments abroad by residents |
I-B |
|
Articles 225 and 226 (31.12.1990) |
Investments in real estate on national territory by non-residents |
II-A |
|
Article 227 (31.12.1992) |
Investments in real estate abroad by residents |
II-B |
|
Article 228 (31.12.1990) |
Personal capital movements |
|
|
|
|
||
|
XI-C |
||
|
XI-D |
||
|
XI-F |
||
|
|
||
|
XI-B |
||
|
XI-E |
||
|
XI-G |
||
Article 229 (31.12.1990) |
Operations in securities normally dealt in on the capital market |
|
|
|
III-A-2 |
||
|
|
||
Operations in units of collective investment undertakings |
|
||
|
IV-A-2 |
||
|
|
ANNEX IV
REFERRED TO IN ARTICLE 6 (2) OF THE DIRECTIVE
Nature of operation |
Heading |
||
Operations in units of collective investment undertakings |
|
||
|
IV-A-2 (a) |
||
|
|
||
|
IV-A-4 (a) |
||
|
|
Nature of operation |
Heading |
||
Operations in securities normally dealt in on the capital market |
|
||
|
III-A-2 (b) |
||
|
|
||
|
III-A-3 and 4 |
||
|
III-B-1 and 2 |
||
|
|
||
Operations in units of collective investment undertakings |
|
||
|
IV-A-2 |
||
|
|
||
|
IV-A-3 and 4 |
||
|
|
||
|
IV-B-1 and 2 (a) |
||
|
|
||
|
VII-A and B-3 |
||
|
|
Nature of operation |
Heading |
||
Operations in securities dealt in on the capital market |
|
||
|
III-B-1 and 2 |
||
|
|
||
Operations in units of collective investment undertakings |
|
||
|
IV-B-1 and 2 |
||
|
|
||
Financial loans and credits |
VIII-A, B-2 and 3 |
||
|
|
Nature of operation |
Heading |
||
Operations in securities and other instruments normally dealt in on the money market |
V |
||
Operations in current and deposit accounts with financial institutions |
VI |
||
Operations in units of collective investment undertakings |
IV-A and B (c) |
||
|
|
||
Financial loans and credits |
VIII-A and B-1 |
||
|
|
||
Personal capital movements |
XI-A |
||
|
|
||
Physical import and export of financial assets |
XII |
||
|
|
||
|
|
||
Other capital movements: Miscellaneous |
XIII-F |