Press Release: Free movement of capital: infringement proceedings against the United Kingdom on BAA plc are closed

The European Commission decided on 15 October 2004 to close infringement procedures against the United Kingdom for its failure to comply with a European Court of Justice ruling of 13 May 2003 on British Airports Authority (BAA). The ruling (Case C-98/01) had found that, by maintaining in force provisions limiting the possibility of acquiring voting shares in BAA plc, as well as the procedure requiring consent to the disposal of the company's assets, to control of its subsidiaries and to winding-up, the United Kingdom failed to fulfil its obligations under EC Treaty rules on the free movement of capital (Article 56). The decision to close this case followed the notification by the United Kingdom of additional measures, taken on 27 July 2004, to ensure compliance with the Court ruling.