Moreover, your rapporteur is of the opinion that the choice for the voluntary approach enables the EU to work more effectively with supply chain due diligence schemes developed by business associations, which in line the OECD guidance have set global standards on their domains.

Notwithstanding that those partners might have put in place reasonable, responsible practice standards and generally effective monitoring, and have acted with care and diligence in ensuring that their firm was providing the best possible professional service they could within the practicalities of the circumstances, if a partner makes a mistake, they have no due diligence or reasonable care defence.

Does European Union law, and in particular Article 31(3) of the Third Life Assurance Directive, (1) preclude an obligation on the part of a life assurance provider on the basis of the ‘open’ and/or unwritten rules of Netherlands law — such as the reasonableness and fairness which govern the (pre-)contractual relationship between a life assurance provider and a prospective policyholder, and/or a general and/or specific duty of care — to provide policyholders with more information on costs and risk premiums of the insurance than was prescribed in 1999 by the provisions of Netherlands law by which the Third Life Assurance Directive was impl ...[+++]emented (in particular, Article 12(2)(q) and (r) of the RIAV [(Netherlands Regulation regarding the provision of information to policyholders)] 1998)?

Also, what do you envision when you do your directors' duties of judicial duty and prudence and due diligence?

However, many Member States[26] have not defined such due diligence in their national legislation, but they often refer to general provision of contract/civil law.

In the same way that the due diligence requirement will oblige operators who place timber/timber products on the market "to show prudence, judgement and positive action in ascertaining the legality of the timber and timber products that enter the supply chain" and "tend to favour sourcing from countries with reliable forest management practices", the possibility of prosecution for trading illegal timber as applied to all operators in the supply chain will encourage them to favour sourcing from reliable, reputable placers on the market ...[+++] - i.e. those who are exercising their due diligence obligations most effectively. It will also distribute the burden of responsibility more equitably among operators.