2020/0073(APP) Temporary measures concerning the general meetings of European companies (SE) and of European Cooperative Societies (SCE)
Lead committee dossier:
Progress: Procedure completed
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | JURI |
Lead committee dossier:
Legal Basis:
RoP 163, TFEU 352-p1sub1
Legal Basis:
RoP 163, TFEU 352-p1sub1Subjects
Events
2020/05/27
Final act published in Official Journal
2020/05/25
EP/CSL - Act adopted by Council after consultation of Parliament
2020/05/15
EP - Results of vote in Parliament
Documents
2020/05/14
EP - Decision by Parliament
Details
The European Parliament adopted by 657 votes to 30, with 6 abstentions, a legislative resolution on the draft Council Regulation establishing temporary measures concerning the general meetings of European companies (SEs) and of European Cooperative Societies (SCEs).
Parliament gave its consent to the draft Council Regulation.
The proposed Regulation would allow European Companies (SEs) and European Cooperative Societies (SCEs) to hold their general meeting within twelve months of the end of the financial year, provided that it takes place no later than 31 December 2020.
As this derogation from the requirements of Council Regulation (EC) No 2157/2001 on European Companies (SEs) and Council Regulation (EC) No 1435/2003 on European Cooperative Societies (SCEs) is a temporary measure due to the exceptional circumstances caused by the COVID-19 outbreak, it shall only apply to general meetings to be held in 2020.
Documents
2020/05/13
EP - Committee referral announced in Parliament
2020/05/11
EC - Legislative proposal published
Details
PURPOSE: to provide a temporary emergency solution for European Companies (SEs) and European Cooperative Societies (SCEs) enabling them to derogate from the provisions of the legislation in force concerning the timing of the holding of general meetings in the context of the Covid-19 pandemic.
PROPOSED ACT: Council Regulation.
ROLE OF THE EUROPEAN PARLIAMENT: the Council may adopt the act only if the European Parliament has approved it.
BACKGROUND: the unprecedented measures put in place by Member States to contain the spread of COVID-19, in particular measures concerning confinement and social distancing of persons, may prevent companies and cooperative societies from complying with their legal obligations under national and Union company law, in particular, by making it considerably difficult for them to hold general meetings.
At EU level, European Companies (SEs) are regulated by Council Regulation (EC) No 2157/2001 and European Cooperative Societies (SCEs) are regulated by Council Regulation (EC) No 1435/2003 . Both Regulations require a general meeting to be held within six months of the end of the financial year. In view of the current exceptional circumstances caused by the COVID-19 pandemic, a temporary derogation from this requirement should be granted.
Many Member States have already allowed the use of digital tools and processes for holding general meetings and have extended the deadlines for holding general meetings in 2020.
CONTENT: the holding of the general meeting is essential to ensure that legally binding or economically necessary decisions are taken in a timely manner.
Under the draft Council Regulation, SEs and SCEs should be allowed to hold their general meeting within 12 months of the end of the financial year, provided that it takes place no later than 31 December 2020. As this derogation is a temporary measure due to the exceptional circumstances caused by the COVID-19 pandemic, it should only apply to general meetings that are required to be held in 2020.
The proposed Regulation should enter into force as a matter of urgency.
Documents
2020/05/04
EP - Decision by committee, without report
2020/04/29
EC - Preparatory document
Documents
2020/04/29
EP - Preparatory document
Documents
Documents
- Final act published in Official Journal: Regulation 2020/699
- Final act published in Official Journal: OJ L 165 27.05.2020, p. 0025
- Results of vote in Parliament: Results of vote in Parliament
- Decision by Parliament: T9-0122/2020
- Legislative proposal published: 07648/2020
- Preparatory document: COM(2020)0183
- Preparatory document: EUR-Lex
- Preparatory document: COM(2020)0183
- Preparatory document: EUR-Lex
- Preparatory document: COM(2020)0183 EUR-Lex
Votes
Demande d'application de la procédure d'urgence: Mesures temporaires concernant l’assemblée générale des sociétés européennes (SE) et des sociétés coopératives européennes (SEC) - C9-0133/2020 - 2020/0073(APP) #
2020/05/13 Outcome: +: 649, -: 36, 0: 4
PPE
S&D
Renew
ID
Verts/ALE
ECR
NI
GUE/NGLVote final: Mesures temporaires concernant l’assemblée générale des sociétés européennes (SE) et des sociétés coopératives européennes (SEC) - C9-0133/2020 - 2020/0073(APP) #
2020/05/14 Outcome: +: 657, -: 30, 0: 6
History
(these mark the time of scraping, not the official date of the change)
2021-12-18Show (3) Changes | Timetravel
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