to the extent that acquisitions of own shares are permitted, the acquisitions by the company, including shares previously acquired by the company and held by it, and shares acquired by a person acting in his own name but on the company’s behalf, that would have the effect of reducing the net assets below the amount mentioned in point (a).

The fair values of the acquirer’s interest in the acquiree and the non-controlling interest on a per-share basis might differ. The main difference is likely to be the inclusion of a control premium in the per-share fair value of the acquirer’s interest in the acquiree or, conversely, the inclusion of a discount for lack of control (also referred to as a non-controlling interest discount) in the per-share fair value of the non-controlling interest if market participants would take into account such a premium or discount when pricing the non-controlling interest.

2. Shares acquired in the cases listed in points (b) to (g) of paragraph 1 must, however, be disposed of within not more than three years of their acquisition unless the nominal value or, in the absence of a nominal value, the accountable par of the shares acquired, including shares which the company may have acquired through a person acting in his own name but on the company's behalf, does not exceed 10 % of the subscribed capital.

that the nominal value or, in the absence thereof, the accountable par of the acquired shares, including shares previously acquired by the company and held by it, and shares acquired by a person acting in his own name but on the company's behalf, may not exceed a limit to be determined by Member States; that limit may not be lower than 10 % of the subscribed capital;

Since a share issue is an operation not falling within the VAT system and since Kretztechnik carried it out in order to increase its capital for the benefit of its economic activity in general, the costs of the services which it obtained in that connection form part of its overheads and, as such, are components of the cost of its products.

3. The Council: - considers that priority should be given to the above areas in the implementation of youth cooperation activities with third countries; - stresses the need to cooperate closely in this area with the Council of Europe and other international organizations; - encourages the exchange, with the assistance of the Commission, of experience and good practice, resulting from existing co-operation with particular third countries and regions in the field of youth; - invites the Commission to inform it of the follow up and evaluation of the activities developed during the preliminary phase of the implementation of Action D in th ...[+++]e "Youth for Europe" programme; - invites the Commission to strengthen the connection between the activities developed in the framework of the "Youth for Europe" programme and those that may develop in the framework of other Community programmes that envisage co-operation with third countries, and in so doing to take account of the existence in the Community of structures which could be called on to make their financial contribution to such activities; - instructs the Permanent Representatives Committee to follow up actions which take place in the context of the present Resolution - insofar as these actions are not covered by the "Youth for Europe" programme and without prejudice to other legislative initiatives from the Commission - and, if necessary, to prepare appropriate guidelines for their further development".