Commission's plan to modernising European Company Law and enhancing corporate governance
Published: 7 October 2003
Policies & Issues: Legal
Orgalime welcomes the efforts of the Commission to modernise European company law. In this context, we believe that the creation of a European Private Company statute is of particular importance to our industry. We therefore welcome the Commission’s decision to launch a feasibility study on the European Private Company statute.
After examining the technical specifications of the study, however, we fear that its scope is too ambitious and too vague: this may lead the Commission facing the same problems that were encountered for the “SE”, which could only delay the possible creation of the European Private Company.
We would therefore urge the Commission, when negotiating with contractors, to consider reviewing the terms of reference of the study, so as to allow particular emphasis to be placed on practical issues facing companies operating in the internal market. We also feel that this study must include a chapter on the European Private Company, as an instrument to facilitate the efficient establishment of distribution and service networks in the internal market.
References: COM (2003) 284 final