Article 108

1. A Contact Committee, hereinafter called "the Committee", shall be set up alongside the Commission.

The Committee shall be composed of persons appointed by the Member States and of representatives of the Commission. The chairman shall be a representative of the Commission. Secretarial services shall be provided by the Commission.

Meetings of the Committee shall be convened by its chairman, either on his own initiative or at the request of one Member State delegation. The Committee shall draw up its rules of procedure.

2. The Committee shall have as its function:

(a) with regard to conditions for admission of securities to official listing, the conditions of establishment, the control and circulation of listing particulars to be published for admission, and periodic information to be published by the companies of which the shares are admitted, without prejudice to Articles 226 and 227 of the Treaty to facilitate the harmonised implementation of this Directive through regular consultations on any practical problems arising from its application on which exchanges of views are deemed useful;

(b) with regard to the information to be published when a major holding in a listed company is acquired or disposed of, to permit regular consultations on any practical problems which arise from the application of this Directive and on which exchanges of view are deemed useful;

(c) to facilitate the establishment of a concerted attitude between the Member States on:

(i) the more stringent or additional conditions and obligations which, pursuant to Article 8, they may lay down at national level;

(ii) the supplements and improvements to the listing particulars which the competent authorities are entitled to require or recommend at national level;

(iii) the stricter or additional requirements which they may lay down in accordance with Articles 71 and 88, so that the requirements imposed in all the Member States may be brought into line, in accordance with Article 44(2)(g) of the Treaty;

(d) to advise the Commission, if necessary, on any additions or amendments to be made to this Directive, and in particular, to consider the possible modification of Articles 71 and 73 in the light of progress towards the convergence of obligations referred to in (c)(iii) above or any adjustments to be made in accordance with Article 109.

It shall not be the function of the Committee to appraise the merits of decisions taken by the competent authorities in individual cases.

CHAPTER II

Adaptation of the amount of equity market capitalisation