Council decision on public limited liability companies

24 July 2006

The Council adopted a directive, with the aim of facilitating and simplifying the raising of capital and the restructuring of capital ownership in public limited liability companies. The directive will enable member states, under certain conditions, to discharge companies from specific reporting requirements and to facilitate the restructuring of capital ownership. It also provides for harmonised safeguards for creditors in the context of capital reduction.

Member states will have to incorporate the new provisions into their national legislation within 18 months following the date of entry into force of the directive, which will occur 20 days after its publication in the Official Journal.

Council press release

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