54In the light of those considerations, it is necessary to consider whether the rules deriving from Law 5/1995 and Royal Decrees Nos 3/1996, 8/1997, 40/1998, 552/1998 and 929/1998 constitute a restriction on the movement of capital between Member States: those rules submit to the prior approval of the national authorities decisions of commercial undertakings relating to:— the undertaking's winding-up, demerger or merger;— the disposal or charging of the assets or shareholdings necessary for the attainment of the undertaking's object;— a change in the undertaking's object;— dealings in the share capital which result in the State's shareholding being reduced by a percentage equal to or greater than 10%;— a share purchase resulting in a holding of at least 10% of the share capital,where the State's shareholding in the undertaking has been reduced by at least 10% and has fallen below 50% or where the holding has been reduced to less than 15% of the share capital.
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