OBS_VALUE: Article 63 of Directive 2009/138/EC on Solvency II stipulates that Member States shall not take into account voting rights or shares which investment firms or credit institutions may hold as a result of providing the underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis included under point 6 of Section A of Annex I to Directive 2004/39/EC, provided that those rights are, on the one hand, not exercised or otherwise used to intervene in the management of the issuer and, on the other, disposed of within one year of acquisition. For unofficial version see: https://www.taxheaven.gr/law/4548/2018