On 12 May 2004 the Council of Economics and Finance Ministers announced that it had reached political agreement on the draft Transparency Directive as amended by the Parliament in its first reading. As the Council agrees with the amendments of the Parliament, the Council can approve the Directive without the need for a second reading by Parliament or Council. However, formal adoption of the Directive is not expected until autumn because of delays in translating the Directive into the 20 official languages. An informal and unofficial version of the draft directive, incorporating the amendments of the Parliament, was also published on the Transparency obligations of publicly traded companies page of the Commission's Internal Market website. (For background, see PLC Legal update, Transparency Directive: approval of Directive by European Parliament and the articles there linked).