The regime should include a specific taxation and accounting scheme and specific rules on liquidation, insolvency, transformation, mergers, divisions, dissolution and nullity in order to leave as few matters as possible to national company law, thereby overcoming the burdens and costs associated with compliance with different national laws and the distortions of competition created thereby.

Nothing in this Directive prevents a composite undertaking from dividing itself into two undertakings, one active in the field of life assurance, the other in non-life insurance. In order to allow such division to take place under the best possible conditions, it is desirable to permit Member States, in accordance with Community rules of competition law, to provide for appropriate tax arrangements, in particular with regard to the capital gains such division could entail.

(33) Nothing in this Directive prevents a composite undertaking from dividing itself into two undertakings, one active in the field of life assurance, the other in non-life insurance. In order to allow such division to take place under the best possible conditions, it is desirable to permit Member States, in accordance with Community rules of competition law, to provide for appropriate tax arrangements, in particular with regard to the capital gains such division could entail.

In reality, this is prevented by the fact that European law takes precedence over national law, and I anticipate that the current proposal will create fair competition and equal competition conditions. It will also ensure legal certainty for all enterprises and the uniform application of competition policy, and will simplify procedures in line with the one-stop-shop principle. It will coordinate the activities of the national – in my view, independent – competition authorities and enable the national authorities and courts to cooperate closely with the Commission. It will establish a clear division ...[+++] of responsibilities between the national authorities and courts in the application of European competition and cartel law, and ensure that the Commission continues to be the guardian of the treaties and thus has more time to devote to real problems, i.e. controlling mergers and cartels.

(20) Section 13 of the law concerning the asset transfer states that the housing promotion division must carry out its tasks in a manner that is neutral in its effect on competition (führt ihre Aufgaben wettbewerbsneutral durch).

A good illustration is in our competition law division, where our lawyers, who provide service to the Bureau of Competition Policy, are working with the bureau on a joint law practice re-engineering pilot project to rethink the delivery of litigation and advisory services in order to achieve maximum responsiveness to the Competition Bureau.