{"id":43905,"date":"2017-12-19T18:10:28","date_gmt":"2017-12-19T16:10:28","guid":{"rendered":"https:\/\/newserver.fyb.de\/produkt\/does-the-9th-ordinance-amending-the-awv-benefit-transaction-practice\/"},"modified":"2017-12-19T18:10:28","modified_gmt":"2017-12-19T16:10:28","slug":"is-the-9-ordinance-for-amending-the-transaction-practice-awv","status":"publish","type":"product","link":"https:\/\/www.fyb.de\/en\/produkt\/is-the-9-ordinance-for-amending-the-transaction-practice-awv\/","title":{"rendered":"Does the 9th Ordinance Amending the AWV Benefit Transaction Practice?"},"content":{"rendered":"

Florian T. Hirsch\u00admann<\/strong> \u2014 Lawyer and Part\u00adner DLA Piper UK LLP, Munich<\/p>\n

Tobias Schulz<\/strong> \u2014 Lawyer and Asso\u00adciate DLA Piper UK LLP, Munich<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite signi\u00adfi\u00adcant criti\u00adcism from busi\u00adness asso\u00adcia\u00adti\u00adons and abroad, the 9th Ordi\u00adnance Amen\u00adding the Foreign Trade and Payments Ordi\u00adnance (AWV) came into force on July 18, 2017, which the Fede\u00adral Minis\u00adtry for Econo\u00admic Affairs and Energy (BMWi) wants to bring about fair compe\u00adti\u00adtion and better protec\u00adtion of criti\u00adcal infra\u00adstruc\u00adtures in the case of company take\u00adovers by non-EU inves\u00adtors. In addi\u00adtion to expan\u00adding the BMWi\u2019s substan\u00adtive audit compe\u00adten\u00adcies by inclu\u00adding addi\u00adtio\u00adnal secu\u00adrity-rele\u00advant areas in the audit process, the proce\u00addu\u00adral requi\u00adre\u00adments for audi\u00adting a tran\u00adsac\u00adtion were revi\u00adsed in parti\u00adcu\u00adlar. As a result, the appli\u00adca\u00adtion for a clearance certi\u00adfi\u00adcate will play a much more important role in future tran\u00adsac\u00adtion prac\u00adtice than has been the case to date.<\/strong><\/p>\n

Alre\u00adady in the 12 months prior to the enact\u00adment of the regu\u00adla\u00adtion, a change in the hand\u00adling of appli\u00adca\u00adti\u00adons for clearance certi\u00adfi\u00adca\u00adtes by the Fede\u00adral Minis\u00adtry for Econo\u00admic Affairs and Energy (BMWi) had become noti\u00adceable. In devia\u00adtion from previous admi\u00adnis\u00adtra\u00adtive prac\u00adtice, tran\u00adsac\u00adtions noti\u00adfied for clearance were no longer appro\u00adved by the mere expi\u00adra\u00adtion of the one-month period pursu\u00adant to Section 58 AWV (old version) or the issu\u00adance of the clearance certi\u00adfi\u00adcate within this period, but were incre\u00adasingly trans\u00adfer\u00adred by the BMWi to a formal review proce\u00addure by reques\u00adt\u00ading addi\u00adtio\u00adnal docu\u00adments in order to extend the review period and to be able to subject the tran\u00adsac\u00adtions to a more detailed review.<\/p>\n

The back\u00adground to the change in admi\u00adnis\u00adtra\u00adtive prac\u00adtice is likely to be not least the public debate that has been going on since the KUKA take\u00adover by the Chinese MIDEA Group or the ulti\u00adm\u00adately failed take\u00adover of AIXTRON by Grand Chip Invest\u00adment about the feared sell-off of key Euro\u00adpean tech\u00adno\u00adlo\u00adgies and know-how.<\/p>\n","protected":false},"featured_media":18963,"comment_status":"open","ping_status":"closed","template":"","meta":{"wp_typography_post_enhancements_disabled":false},"product_brand":[],"product_cat":[2452,2456,2477,2503],"product_tag":[1543,1576,1581,1620],"class_list":{"0":"post-43905","1":"product","2":"type-product","3":"status-publish","4":"has-post-thumbnail","6":"product_cat-ebook-en","7":"product_cat-fyb-2018-en","8":"product_cat-florian-t-hirschmann-en","9":"product_cat-tobias-schulz","10":"product_tag-foreign-trade-and-payments-ordinance-awv","11":"product_tag-florian-t-hirschmann-en","12":"product_tag-tobias-schulz-en","13":"product_tag-clearance-certificate","14":"pa_ausgabe-deutsch-en","15":"pa_ausgabe-englisch-en","17":"first","18":"outofstock","19":"taxable","20":"shipping-taxable","21":"purchasable","22":"product-type-variable"},"yoast_head":"\nDoes the 9th Ordinance Amending the AWV Benefit Transaction Practice? - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/produkt\/is-the-9-ordinance-for-amending-the-transaction-practice-awv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Does the 9th Ordinance Amending the AWV Benefit Transaction Practice? - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"Despite significant criticism from business associations and abroad, the 9th Ordinance Amending the Foreign Trade and Payments Ordinance (AWV) came into force on July 18, 2017, which the Federal Ministry for Economic Affairs and Energy (BMWi) wants to bring about fair competition and better protection of critical infrastructures in the case of company takeovers by non-EU investors. In addition to expanding the BMWi's substantive audit competencies by including additional security-relevant areas in the audit process, the procedural requirements for auditing a transaction were revised in particular. As a result, the application for a clearance certificate will play a much more important role in future transaction practice than has been the case to date. Already in the 12 months prior to the enactment of the regulation, a change in the handling of applications for clearance certificates by the Federal Ministry for Economic Affairs and Energy (BMWi) had become noticeable. In deviation from previous administrative practice, transactions notified for clearance were no longer approved by the mere expiration of the one-month period pursuant to Section 58 AWV (old version) or the issuance of the clearance certificate within this period, but were increasingly transferred by the BMWi to a formal review procedure by requesting additional documents in order to extend the review period and to be able to subject the transactions to a more detailed review. The background to the change in administrative practice is likely to be not least the public debate that has been going on since the KUKA takeover by the Chinese MIDEA Group or the ultimately failed takeover of AIXTRON by Grand Chip Investment about the feared sell-off of key European technologies and know-how.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fyb.de\/en\/produkt\/is-the-9-ordinance-for-amending-the-transaction-practice-awv\/\" \/>\n<meta property=\"og:site_name\" content=\"FYB Financial Yearbook\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fyb.de\/wp-content\/uploads\/2017\/07\/Hirschmann.png\" \/>\n\t<meta property=\"og:image:width\" content=\"334\" \/>\n\t<meta property=\"og:image:height\" content=\"298\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/is-the-9-ordinance-for-amending-the-transaction-practice-awv\/\",\"url\":\"https:\/\/www.fyb.de\/en\/produkt\/is-the-9-ordinance-for-amending-the-transaction-practice-awv\/\",\"name\":\"Does the 9th Ordinance Amending the AWV Benefit Transaction Practice? 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