BETA


2012/2669(RSP) Resolution on the future of European company law

Progress: Procedure completed

Legal Basis:
RoP 136-p5

Events

2012/10/30
   EC - Commission response to text adopted in plenary
Documents
2012/06/14
   EP - Results of vote in Parliament
2012/06/14
   EP - Decision by Parliament
Details

The European Parliament adopted a resolution tabled by the Committee on Legal Affairs on the future of European company law, welcoming the Commission's recent public consultation on the future of European company law, which should help to shape future initiatives designed to simplify the business environment for companies, while ensuring appropriate protection of the interests of creditors, shareholders, members and employees.

Parliament takes the view that EU company forms supplementing the existing forms available under national law have considerable potential and should be further developed and promoted. It urges the Commission, in order to serve the specific needs of SMEs, to make further efforts with a view to the adoption of the Private Company Statute (SPE) which could take full account of the interests of all stakeholders, in order to overcome the impasse in the Council.

Parliament makes a series of observation on the Company Law Directives and particularly reiterates its request to the Commission that it submit a legislative proposal laying down measures designed to facilitate cross-border mobility for companies within the EU (14th Company Law Directive on the cross-border transfer of company seats). It recalls that, in the Framework Agreement on relations between Parliament and the Commission, the latter committed itself to report on concrete follow-up to any request to submit a proposal pursuant to Article 225 TFEU within three months of the adoption of the corresponding resolution in plenary. Members deplore the fact that this commitment has not been honoured in respect of Parliament's resolution with recommendations on a 14th company law directive and they call on the Commission to comply with the framework agreement by submitting more detailed follow-up reports in future.

Members welcome the review of the accounting directives and suggest that the Commission further explore possibilities for developing European accounting standards , in particular with regard to the specific needs of SMEs, taking into account the traditional ideas of sustainability, long-term planning, family ownership and other traditional aspects of SMEs.

Parliament recalls that, according to the Commission's Smart Regulation Agenda, legislation needs to be clearer and more accessible. It takes the view that the Commission should codify EU company law in order to provide a user-friendly set of rules and to ensure the consistency of EU law. Whilst recognising the merits of a single EU company law instrument, Parliament believes that company law directives need to be grouped together as a first step, and it suggests grouping them in categories, including formation and operation (e.g. the First and Second Directives and the accounting and audit directives), mobility (e.g. the Third, Sixth, Tenth, Eleventh and 13th Directives and the future 14th Directive) and EU company law forms (e.g. SE, SCE, EEIG). This codification project should not lead to a halt in the necessary reform activities.

Parliament calls on the Commission comprehensively to inform Parliament of the results of its consultation on the future of European company law and to explain in detail the decisions it will take as a result of the outcome of that consultation.

Lastly, it urges the Commission to present an action plan indicating the way forward after the consultation , which should outline short-, medium- and long-term initiatives to improve the regulatory framework for EU company law. Short-term initiatives should include the14th Company Law Directive and measures improving the EU framework for corporate governance, while mid-term initiatives should address, for instance, the Ninth Company Law Directive, and long-term initiatives the codification of EU company law.

Documents
2012/06/14
   EP - End of procedure in Parliament
2012/06/13
   EP - Debate in Parliament
2012/06/06
   EP - Motion for a resolution
Documents
2012/05/24
   EP - Oral question/interpellation by Parliament
Documents

Documents

History

(these mark the time of scraping, not the official date of the change)

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Old
http://www.europarl.europa.eu/doceo/document/B-7-2012-0299_EN.html
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2012-06-14T00:00:00
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2012-06-14T00:00:00
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EP
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summary
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Rules of Procedure EP 136-p5
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Rules of Procedure EP 128-p5
docs/1/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2012-299&language=EN
New
http://www.europarl.europa.eu/doceo/document/B-7-2012-0299_EN.html
docs/2/body
EC
events/2/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-259
New
http://www.europarl.europa.eu/doceo/document/TA-7-2012-0259_EN.html
activities
  • date: 2012-06-13T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20120613&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament
  • date: 2012-06-14T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=21739&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-259 type: Decision by Parliament, 1st reading/single reading title: T7-0259/2012 body: EP type: Results of vote in Parliament
commission
  • body: EC dg: Financial Stability, Financial Services and Capital Markets Union commissioner: BARNIER Michel
committees
    docs
    • date: 2012-05-24T00:00:00 docs: title: B7-0117/2012 type: Oral question/interpellation by Parliament body: EP
    • date: 2012-06-06T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2012-299&language=EN title: B7-0299/2012 type: Motion for a resolution body: EP
    • date: 2012-10-30T00:00:00 docs: url: /oeil/spdoc.do?i=21739&j=0&l=en title: SP(2012)626 type: Commission response to text adopted in plenary
    events
    • date: 2012-06-13T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20120613&type=CRE title: Debate in Parliament
    • date: 2012-06-14T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=21739&l=en title: Results of vote in Parliament
    • date: 2012-06-14T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-259 title: T7-0259/2012 summary: The European Parliament adopted a resolution tabled by the Committee on Legal Affairs on the future of European company law, welcoming the Commission's recent public consultation on the future of European company law, which should help to shape future initiatives designed to simplify the business environment for companies, while ensuring appropriate protection of the interests of creditors, shareholders, members and employees. Parliament takes the view that EU company forms supplementing the existing forms available under national law have considerable potential and should be further developed and promoted. It urges the Commission, in order to serve the specific needs of SMEs, to make further efforts with a view to the adoption of the Private Company Statute (SPE) which could take full account of the interests of all stakeholders, in order to overcome the impasse in the Council. Parliament makes a series of observation on the Company Law Directives and particularly reiterates its request to the Commission that it submit a legislative proposal laying down measures designed to facilitate cross-border mobility for companies within the EU (14th Company Law Directive on the cross-border transfer of company seats). It recalls that, in the Framework Agreement on relations between Parliament and the Commission, the latter committed itself to report on concrete follow-up to any request to submit a proposal pursuant to Article 225 TFEU within three months of the adoption of the corresponding resolution in plenary. Members deplore the fact that this commitment has not been honoured in respect of Parliament's resolution with recommendations on a 14th company law directive and they call on the Commission to comply with the framework agreement by submitting more detailed follow-up reports in future. Members welcome the review of the accounting directives and suggest that the Commission further explore possibilities for developing European accounting standards , in particular with regard to the specific needs of SMEs, taking into account the traditional ideas of sustainability, long-term planning, family ownership and other traditional aspects of SMEs. Parliament recalls that, according to the Commission's Smart Regulation Agenda, legislation needs to be clearer and more accessible. It takes the view that the Commission should codify EU company law in order to provide a user-friendly set of rules and to ensure the consistency of EU law. Whilst recognising the merits of a single EU company law instrument, Parliament believes that company law directives need to be grouped together as a first step, and it suggests grouping them in categories, including formation and operation (e.g. the First and Second Directives and the accounting and audit directives), mobility (e.g. the Third, Sixth, Tenth, Eleventh and 13th Directives and the future 14th Directive) and EU company law forms (e.g. SE, SCE, EEIG). This codification project should not lead to a halt in the necessary reform activities. Parliament calls on the Commission comprehensively to inform Parliament of the results of its consultation on the future of European company law and to explain in detail the decisions it will take as a result of the outcome of that consultation. Lastly, it urges the Commission to present an action plan indicating the way forward after the consultation , which should outline short-, medium- and long-term initiatives to improve the regulatory framework for EU company law. Short-term initiatives should include the14th Company Law Directive and measures improving the EU framework for corporate governance, while mid-term initiatives should address, for instance, the Ninth Company Law Directive, and long-term initiatives the codification of EU company law.
    • date: 2012-06-14T00:00:00 type: End of procedure in Parliament body: EP
    links
    other
    • body: EC dg: url: http://ec.europa.eu/dgs/internal_market/ title: Internal Market and Services commissioner: BARNIER Michel
    procedure/legal_basis/0
    Rules of Procedure EP 128-p5
    procedure/legal_basis/0
    Rules of Procedure of the European Parliament EP 128-p5
    procedure/subject
    Old
    • 3.45.01 Company law
    New
    3.45.01
    Company law
    procedure/subtype
    Old
    Debate or resolution on oral questions
    New
    Debate or resolution on oral question/interpellation
    activities/0/date
    Old
    2012-05-24T00:00:00
    New
    2012-06-13T00:00:00
    activities/0/docs/0/title
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    B7-0117/2012
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    Debate in Parliament
    activities/0/docs/0/type
    Old
    Oral question by Parliament
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    Debate in Parliament
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    Oral question by Parliament
    New
    Debate in Parliament
    activities/1
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    2012-06-06T00:00:00
    docs
    url: http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2012-299&language=EN type: Motion for a resolution title: B7-0299/2012
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    Results of vote in Parliament
    activities/1/docs/1/text
    • The European Parliament adopted a resolution tabled by the Committee on Legal Affairs on the future of European company law, welcoming the Commission's recent public consultation on the future of European company law, which should help to shape future initiatives designed to simplify the business environment for companies, while ensuring appropriate protection of the interests of creditors, shareholders, members and employees.

      Parliament takes the view that EU company forms supplementing the existing forms available under national law have considerable potential and should be further developed and promoted. It urges the Commission, in order to serve the specific needs of SMEs, to make further efforts with a view to the adoption of the Private Company Statute (SPE) which could take full account of the interests of all stakeholders, in order to overcome the impasse in the Council.

      Parliament makes a series of observation on the Company Law Directives and particularly reiterates its request to the Commission that it submit a legislative proposal laying down measures designed to facilitate cross-border mobility for companies within the EU (14th Company Law Directive on the cross-border transfer of company seats). It recalls that, in the Framework Agreement on relations between Parliament and the Commission, the latter committed itself to report on concrete follow-up to any request to submit a proposal pursuant to Article 225 TFEU within three months of the adoption of the corresponding resolution in plenary. Members deplore the fact that this commitment has not been honoured in respect of Parliament's resolution with recommendations on a 14th company law directive and they call on the Commission to comply with the framework agreement by submitting more detailed follow-up reports in future.

      Members welcome the review of the accounting directives and suggest that the Commission further explore possibilities for developing European accounting standards, in particular with regard to the specific needs of SMEs, taking into account the traditional ideas of sustainability, long-term planning, family ownership and other traditional aspects of SMEs.

      Parliament recalls that, according to the Commission's Smart Regulation Agenda, legislation needs to be clearer and more accessible. It takes the view that the Commission should codify EU company law in order to provide a user-friendly set of rules and to ensure the consistency of EU law. Whilst recognising the merits of a single EU company law instrument, Parliament believes that company law directives need to be grouped together as a first step, and it suggests grouping them in categories, including formation and operation (e.g. the First and Second Directives and the accounting and audit directives), mobility (e.g. the Third, Sixth, Tenth, Eleventh and 13th Directives and the future 14th Directive) and EU company law forms (e.g. SE, SCE, EEIG). This codification project should not lead to a halt in the necessary reform activities.

      Parliament calls on the Commission comprehensively to inform Parliament of the results of its consultation on the future of European company law and to explain in detail the decisions it will take as a result of the outcome of that consultation.

      Lastly, it urges the Commission to present an action plan indicating the way forward after the consultation, which should outline short-, medium- and long-term initiatives to improve the regulatory framework for EU company law. Short-term initiatives should include the14th Company Law Directive and measures improving the EU framework for corporate governance, while mid-term initiatives should address, for instance, the Ninth Company Law Directive, and long-term initiatives the codification of EU company law.

    activities/1/type
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    New
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    2012-06-06T00:00:00
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    BARNIER Michel
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    • date: 2012-06-12T00:00:00 body: EP type: Vote scheduled
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        reference
        2012/2669(RSP)
        title
        Future of European company law
        stage_reached
        Awaiting Parliament 1st reading / single reading / budget 1st stage
        subtype
        Debate or resolution on oral questions
        type
        RSP - Resolutions on topical subjects
        subject
        3.45.01 Company law