1. Investor-compensation schemes introduced and officially recognized in a Member State in accordance with Article 2(1) shall also cover investors at branches set up by investment firms in other Member States.
Until 31 December 1999, neither the level nor the scope, including the percentage, of the cover provided for may exceed the maximum level or scope of the cover offered by the corresponding compensation scheme within the territory of the host Member State. Before that date the Commission shall draw up a report on the basis of the experience acquired in applying this subparagraph and Article 4(1) of Directive 94/19/EC referred to above and shall consider the need to continue those provisions. If appropriate, the Commission shall submit a proposal for a Directive to the European Parliament and the Council, with a view to the extension of their validity.
Where the level or scope, including the percentage, of the cover offered by the host Member State's investor-compensation scheme ex
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