The Treaty of the European Union, Maastricht Treaty, 7th February, 1992European Union
History
The Treaty of the European Union, Maastricht Treaty, 7th February, 1992
European Union
Europe -- Economic integration; European Union; European federation
directives for the mutual recognition of diplomas, certificates and other
evidence of formal qualifications.
2. For the same purpose, the Council shall, before the end of the
transitional period, issue directives for the co-ordination of the
provisions laid down by law, regulation or administrative action in
Member States concerning the taking up and pursuit of activities as
self-employed persons. The Council, acting unanimously on a
proposal from the Commission and after consulting the European
Parliament, shall decide on directives the implementation of which
involves in at least one Member State amendment of the existing
principles laid down by law governing the professions with respect to
training and conditions of access for natural persons. In other cases
the Council shall act in accordance with the procedure referred to in
Article 189b.
3. In the case of the medical and allied and pharmaceutical
professions, the progressive abolition of restrictions shall be
dependent upon co-ordination of the conditions for their exercise in the
various Member States."
14) The title of Chapter 4 shall be replaced by the following:
"CHAPTER 4
CAPITAL AND PAYMENTS"
15) The following Articles shall be inserted:
"ARTICLE 73a
As from 1 January 1994, Articles 67 to 73 shall be replaced by Articles
73b, c, d, e, f and g.
ARTICLE 73b
1. Within the framework of the provisions set out in this Chapter, all
restrictions on the movement of capital between Member States and
between Member States and third countries shall be prohibited.
2. Within the framework of the provisions set out in this Chapter, all
restrictions on payments between Member States and between
Member States and third countries shall be prohibited.
ARTICLE 73c
1. The Provisions of Article 73b shall be without prejudice to the
application to third countries, of any restrictions which exist on 31
December 1993 under national or Community law adopted in respect
of the movement of capital to or from third countries involving direct
investment - including investment in real estate - establishment, the
provision of financial services or the admission of securities to capital
markets.
2. Whilst endeavouring to achieve the objective of free movement of
capital between Member States and third countries to the greatest
extent possible and without prejudice to the other Chapters of this
Treaty, the Council may, acting by a qualified majority on a proposal
from the Commission, adopt measures on the movement of capital to
or from third countries involving direct investment - including
investment in real estate -, establishment, the provision of financial
services or the admission of securities to capital markets. Unanimity
shall be required for measures under this paragraph which constitute
a step back in Community law as regards the liberalization of the
movement of capital to or from third countries.
ARTICLE 73d
1. The provisions of Article 73b shall be without prejudice to the right
of Member States:
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