Banking systems in the internal market are highly interconnected, bank groups are international and banks have a large percentage of foreign assets.

2. The Commission shall give sufficient prior notice of an on-the-spot check to the Member State concerned or to the Member State within whose territory the check is to take place, taking into account the administrative impact on paying agencies when organising checks.

The supervisory authorities should have the power to prohibit or suspend a data transfer or a set of transfers based on the standard contractual clauses in those exceptional cases where it is established that a transfer on contractual basis is likely to have a substantial adverse effect on the warranties and obligations providing adequate protection for the data subject.

€ 163.7 million charged to Greece because the register of olive cultivation has not been set up thus the check on crop declarations was inoperative, and on the spot checks were carried out inadequately; € 37.4 million charged to Greece for missing system allowing the cross-checks between the system of production aid for cotton with the integrated administration and control system, late on the spot checks, and for no penalties applied where discrepancies found in area checks; € 30.9 million charged to Greece because aid for the production of grape for drying was granted for overestimated area; security of the database for the plots was ...[+++] inadequate; checks on diversion of any of the fresh grapes, before drying, to other uses was missing; € 11.3 million charged to Spain concerning fruit and vegetable withdrawal operations for missing control on environmental impact of composting, controls did not reach the final use of the freely distributed product, unsatisfactory quality of controls carried out on withdrawn produce; € 5.6 million charged to Netherlands because expenditure for projects approved under an Objective 5A programme of EAGGF-Guidance section was claimed under the Guarantee section of the EAGGF;

The problem today is simple - the current foreign holding limit of 20 per cent is lower than the natural level of foreign holdings, namely, 30 per cent. In other words, in the absence of a limit, experience has shown that the level of foreign holdings in other countries tends to settle at approximately 30 per cent.

It also reviews a number of other Canadian laws that already permit the freezing or seizing of assets and property in Canada that are in the possession or control of foreign nationals or persons acting on behalf of those foreign nationals, though these other laws do not necessarily address the same types of international circumstances as Bill C-61.