The delegation limitations and requirements should apply to the management functions set out in Annex I to Directive 2011/61/EU, whereas supporting tasks like administrative or technical functions assisting the management tasks such as logistical support in the form of cleaning, catering and procurement of basic services or products, should not be deemed to constitute delegation of AIFM functions.

72. Urges the EU to honour its commitment to improve its response to difficult partnerships and fragile states and to support the prevention of state fragility through governance reforms, the rule of law, anti-corruption measures and the building of viable state institutions in order to help those states fulfil a range of basic functions and meet the needs of their citizens, which include education, health and all basic services;

71. Urges the EU to honour its commitment to improve its response to difficult partnerships and fragile states and to support the prevention of state fragility through governance reforms, rule of law, anti-corruption measures and the building of viable state institutions in order to help those states fulfil a range of basic functions and meet the needs of their citizens, which include education, health and all basic services;

We want to see differentiation of charges based on objective criteria and according to the level of services provided and the environmental performance, and we want to see a system for defining and concluding an overall service level agreement.

There is a lack of the most important functions of the state for poverty reduction such as territorial control, safety and security, capacity to manage public resources, delivery of basic services, the ability to protect and support the poorest people in the way they sustain themselves.

Difficulties arise because of prevailing uncertainty as regards the way in which "regulated markets" should fulfil their obligations to ensure that all securities comply with the requirements for "official listing" (as specified in Directive 79/279 [10] In essence, the practice to date has been that the regulated market should provide listing functions in respect of all securities which are dealt in on that market. This practice for "regulated markets" officially to list securities prior to trading can add significantly to costs and limit the scope for competing markets and exchanges to admit the same security to trading. admission to li ...[+++]sting and admission to trading must therefore be decoupled if more active competition between trading systems is to be facilitated. Furthermore, structural changes such as the demutualisation of exchanges call for a redefinition of how listing and public disclosure objectives are realised. However, before such far-reaching adjustments can be envisaged, an equitable basis must be found for sharing the regulatory overheads of listing and fulfilling related requirements such as dissemination of price-sensitive information. Without appropriate arrangements, profit-driven exchanges may seek to divest costly listing functions, particularly if they perceive competitors as "free-riding" on their listing services. This would jeopardise the important "public good" functions served by listing. Implementation of this approach should be foreshadowed in an updated definition of "regulated markets". It also calls for a re-examination of the provisions of Directive 79/279 [11].