Regional and national programmes for research and innovation, often backed by European cohesion policy, play an essential role in promoting SMEs.

the members of the administrative or the management organ of the public limited liability company to be obliged to buy back from the other company the shares referred to in Article 22(2) and (3) and Article 23 at the price at which the other company acquired them; this sanction shall be inapplicable only where the members of the administrative or the management organ of the public limited liability company prove that that company played no part whatsoever in the subscription for or acquisition of the shares in question.

the members of the administrative or the management organ of the public limited liability company to be obliged to buy back from the other company the shares referred to in Article 22(2) and (3) and Article 23 at the price at which the other company acquired them; this sanction shall be inapplicable only where the members of the administrative or the management organ of the public limited liability company prove that that company played no part whatsoever in the subscription for or acquisition of the shares in question.

which, according to the manufacturer's technical specification, can be equipped with numerical control units, computer control or play-back control; and

Specific instruments such as covered bonds and mortgage backed securities play an important role in a pan-European as well as national context (for example UK Mortgage Backed Securities , Danish covered bonds and German Pfandbriefe).

10 The preamble also claims that it is in the interest of the parties that the consumer should be able to use and play back the VCR video cassette on the equipment of as many manufacturers as possible without loss of quality. For this reason, as is set out below, the parties agreed to uniform application of the same technical standards, which are needed to ensure compatibility.