Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

29 November 2005

Council general approach on public limited liability companies





On the last meeting of the Competitiveness Council member states agreed on a general approach, pending the European Parliament's opinion in first reading, on a draft directive aimed at facilitating and simplifying capital related measures in public limited liability companies. The directive will enable member states, under certain conditions, to eliminate specific reporting requirements; to facilitate changes in share ownership and to provide harmonised legal procedures for creditors in the context of capital reduction.

The directive seeks to ensure that the capital of a company is maintained in the interest of creditors, while protecting the rights of minority shareholders. Directive 77/91/EEC, adopted in 1976, coordinates for the protection of the interests of members and third parties, national provisions applicable to public limited liability companies in the following areas: formation of companies, minimum share capital requirement, distributions to shareholders, increase and reduction in capital.

Council press release
Document


© Council of the European Union


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment