BETA


2011/0011(COD) Public limited liability companies: coordination of safeguards in respect of their formation and the maintenance and alteration of their capital. Recast

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead JURI LEHNE Klaus-Heiner (icon: PPE PPE)
Lead committee dossier:
Legal Basis:
TFEU 050-p2

Events

2012/11/14
   Final act published in Official Journal
Details

PURPOSE: the coordination of national safeguards regarding the formation and maintenance of public limited liability companies.

LEGISLATIVE ACT: Directive 2012/30/EU of the European Parliament and of the Council on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent.

CONTENT: the Council approved the recast of the existing Directive (Directive 77/91/EEC) that seeks to coordinate Member States’ safeguards, with a view to making them equivalent within the meaning of the Treaty, for the protection of the interests of members and others, in respect of the formation of public limited companies and the maintenance and alteration of their capital.

As requested by Parliament, the legal basis of the Directive is Article 50 (1) and (2)(g) of the TFEU.

Among other things, the Directive provides that the laws of the Member States shall require that, in order that a company may be incorporated or obtain authorisation to commence business, a minimum capital shall be subscribed the amount of which shall be not less than EUR 25 000.

Every five years, the European Parliament and the Council, acting on a proposal from the Commission in accordance with Article 50(1) and (2)(g) of the Treaty, shall examine and, if need be, revise this amount in the light of economic and monetary trends in the Union.

ENTRY INTO FORCE: 04/12/2012.

2012/10/25
   CSL - Draft final act
Documents
2012/10/25
   CSL - Final act signed
2012/10/25
   EP - End of procedure in Parliament
2012/10/10
   EP/CSL - Act adopted by Council after Parliament's 1st reading
2012/10/10
   CSL - Council Meeting
2012/01/11
   EC - Commission response to text adopted in plenary
Documents
2011/11/15
   EP - Results of vote in Parliament
2011/11/15
   EP - Decision by Parliament, 1st reading
Details

The European Parliament adopted by 531 votes to 19, with 0 abstentions, a legislative resolution on the proposal for a directive of the European Parliament and of the Council on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent (recast).

Parliament adopted its position at first reading, under the ordinary legislative procedure, taking into account the recommendations of the Consultative Working Party of the legal services of the European Parliament, the Council and the Commission. According to the Consultative Committee, the proposal in question does not include any substantive amendments other than those identified as such in the proposal and whereas, as regards the codification of the unchanged provisions of the earlier acts together with those amendments, the proposal contains a straightforward codification of the existing texts, without any change in their substance.

The Commission proposed Article 50(2)(g) of the Treaty on the Functioning of the European Union as the legal basis. However, Parliament proposes that the legal basis by which the European Parliament and the Council shall adopt directives, in accordance with the ordinary legislative procedure, is set out in Article 50(1) TFEU .

Documents
2011/10/13
   EP - Committee report tabled for plenary, 1st reading/single reading
Documents
2011/10/13
   EP - Committee report tabled for plenary, 1st reading
Documents
2011/10/11
   EP - Vote in committee, 1st reading
Details

The Committee on Legal Affairs adopted the report drafted by Klaus-Heiner LEHNE (EPP, DE) on the proposal for a directive of the European Parliament and of the Council on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent (recast).

It recommends that the European Parliament adopts its position at first reading, under the ordinary legislative procedure, taking into account the recommendations of the Consultative Working Party of the legal services of the European Parliament, the Council and the Commission. The proposal contains a straightforward codification of the existing texts, without any change in their substance.

The Commission proposed Article 50(2)(g) of the Treaty on the Functioning of the European Union as the legal basis. However, Members propose that the legal basis by which the European Parliament and the Council shall adopt directives, in accordance with the ordinary legislative procedure, is set out in Article 50(1) TFEU .

2011/09/14
   EP - Committee draft report
Documents
2011/03/15
   ESC - Economic and Social Committee: opinion, report
Documents
2011/02/28
   EP - LEHNE Klaus-Heiner (PPE) appointed as rapporteur in JURI
2011/02/14
   EP - Committee referral announced in Parliament, 1st reading
2011/02/01
   EC - Legislative proposal
Details

PURPOSE: to present a proposal on the coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent (Recast).

PROPOSED ACT: Directive of the European Parliament and the Council.

IMPACT ASSESSMENT: no impact assessment was carried out.

LEGAL BASIS: Article 50(2) of the Treaty on the Functioning of the European Union.

CONTENT: on 16 September 2008, the Commission presented a proposal for a Directive of the European Parliament and of the Council codifying Second Council Directive 77/91/EEC on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 58 of the Treaty, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent.

In its opinion of 16 October 2008 the Consultative Working Party of the Legal Services stated that the proposal does indeed confine itself to straightforward codification, without any substantive changes to the acts covered by it.

On 26 August 2010 the Commission presented an amended proposal for the codification of Directive 77/91/EEC, following subsequent amendments to it. In its further opinion of 12 October 2010 the Consultative Working Party of the Legal Services stated that that amended proposal does indeed confine itself to straightforward codification, without any substantive changes to the acts covered by it.

In that opinion the Consultative Working Party of the Legal Services also acknowledged that Article 6(3) of Directive 77/91/EEC, which corresponds to Article 6(2) in the proposed codified text, established a secondary legal basis. In the light of the judgment of the Court of Justice of 6 May 2008 in Case C-133/06 , it was considered necessary to redraft Article 6(2) of the proposed codified text. Since such a redrafting would imply a substantive change, and would therefore go beyond straightforward codification, it is therefore appropriate to t ransform the codification of Directive 77/91/EEC into a recast in order to incorporate the necessary amendment .

The amendment to be made to Article 6(2) of the proposed codified text concerns the insertion of the words " the European Parliament and" before the words "the Council", in order to confer on both institutions the competence to examine and, if need be, revise the minimum amount of EUR 25 000 required for a company to be incorporated or obtain authorisation to commence business.

BUDGETARY IMPLICATION: this proposal has no implications on the EU budget.

2011/02/01
   EC - Legislative proposal published
Details

PURPOSE: to present a proposal on the coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent (Recast).

PROPOSED ACT: Directive of the European Parliament and the Council.

IMPACT ASSESSMENT: no impact assessment was carried out.

LEGAL BASIS: Article 50(2) of the Treaty on the Functioning of the European Union.

CONTENT: on 16 September 2008, the Commission presented a proposal for a Directive of the European Parliament and of the Council codifying Second Council Directive 77/91/EEC on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 58 of the Treaty, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent.

In its opinion of 16 October 2008 the Consultative Working Party of the Legal Services stated that the proposal does indeed confine itself to straightforward codification, without any substantive changes to the acts covered by it.

On 26 August 2010 the Commission presented an amended proposal for the codification of Directive 77/91/EEC, following subsequent amendments to it. In its further opinion of 12 October 2010 the Consultative Working Party of the Legal Services stated that that amended proposal does indeed confine itself to straightforward codification, without any substantive changes to the acts covered by it.

In that opinion the Consultative Working Party of the Legal Services also acknowledged that Article 6(3) of Directive 77/91/EEC, which corresponds to Article 6(2) in the proposed codified text, established a secondary legal basis. In the light of the judgment of the Court of Justice of 6 May 2008 in Case C-133/06 , it was considered necessary to redraft Article 6(2) of the proposed codified text. Since such a redrafting would imply a substantive change, and would therefore go beyond straightforward codification, it is therefore appropriate to t ransform the codification of Directive 77/91/EEC into a recast in order to incorporate the necessary amendment .

The amendment to be made to Article 6(2) of the proposed codified text concerns the insertion of the words " the European Parliament and" before the words "the Council", in order to confer on both institutions the competence to examine and, if need be, revise the minimum amount of EUR 25 000 required for a company to be incorporated or obtain authorisation to commence business.

BUDGETARY IMPLICATION: this proposal has no implications on the EU budget.

Documents

AmendmentsDossier
262 2011/0011(COD)
2013/03/06 LIBE 262 amendments...
source: PE-506.166

History

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

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  • date: 2011-02-01T00:00:00 type: Legislative proposal published body: EC docs: url: http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2011/0029/COM_COM(2011)0029_EN.pdf title: COM(2011)0029 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2011&nu_doc=29 title: EUR-Lex summary: PURPOSE: to present a proposal on the coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent (Recast). PROPOSED ACT: Directive of the European Parliament and the Council. IMPACT ASSESSMENT: no impact assessment was carried out. LEGAL BASIS: Article 50(2) of the Treaty on the Functioning of the European Union. CONTENT: on 16 September 2008, the Commission presented a proposal for a Directive of the European Parliament and of the Council codifying Second Council Directive 77/91/EEC on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 58 of the Treaty, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent. In its opinion of 16 October 2008 the Consultative Working Party of the Legal Services stated that the proposal does indeed confine itself to straightforward codification, without any substantive changes to the acts covered by it. On 26 August 2010 the Commission presented an amended proposal for the codification of Directive 77/91/EEC, following subsequent amendments to it. In its further opinion of 12 October 2010 the Consultative Working Party of the Legal Services stated that that amended proposal does indeed confine itself to straightforward codification, without any substantive changes to the acts covered by it. In that opinion the Consultative Working Party of the Legal Services also acknowledged that Article 6(3) of Directive 77/91/EEC, which corresponds to Article 6(2) in the proposed codified text, established a secondary legal basis. In the light of the judgment of the Court of Justice of 6 May 2008 in Case C-133/06 , it was considered necessary to redraft Article 6(2) of the proposed codified text. Since such a redrafting would imply a substantive change, and would therefore go beyond straightforward codification, it is therefore appropriate to t ransform the codification of Directive 77/91/EEC into a recast in order to incorporate the necessary amendment . The amendment to be made to Article 6(2) of the proposed codified text concerns the insertion of the words " the European Parliament and" before the words "the Council", in order to confer on both institutions the competence to examine and, if need be, revise the minimum amount of EUR 25 000 required for a company to be incorporated or obtain authorisation to commence business. BUDGETARY IMPLICATION: this proposal has no implications on the EU budget.
  • date: 2011-02-14T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2011-10-11T00:00:00 type: Vote in committee, 1st reading/single reading body: EP summary: The Committee on Legal Affairs adopted the report drafted by Klaus-Heiner LEHNE (EPP, DE) on the proposal for a directive of the European Parliament and of the Council on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent (recast). It recommends that the European Parliament adopts its position at first reading, under the ordinary legislative procedure, taking into account the recommendations of the Consultative Working Party of the legal services of the European Parliament, the Council and the Commission. The proposal contains a straightforward codification of the existing texts, without any change in their substance. The Commission proposed Article 50(2)(g) of the Treaty on the Functioning of the European Union as the legal basis. However, Members propose that the legal basis by which the European Parliament and the Council shall adopt directives, in accordance with the ordinary legislative procedure, is set out in Article 50(1) TFEU .
  • date: 2011-10-13T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A7-2011-348&language=EN title: A7-0348/2011
  • date: 2011-11-15T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=20662&l=en title: Results of vote in Parliament
  • date: 2011-11-15T00:00:00 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-2011-477 title: T7-0477/2011 summary: The European Parliament adopted by 531 votes to 19, with 0 abstentions, a legislative resolution on the proposal for a directive of the European Parliament and of the Council on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent (recast). Parliament adopted its position at first reading, under the ordinary legislative procedure, taking into account the recommendations of the Consultative Working Party of the legal services of the European Parliament, the Council and the Commission. According to the Consultative Committee, the proposal in question does not include any substantive amendments other than those identified as such in the proposal and whereas, as regards the codification of the unchanged provisions of the earlier acts together with those amendments, the proposal contains a straightforward codification of the existing texts, without any change in their substance. The Commission proposed Article 50(2)(g) of the Treaty on the Functioning of the European Union as the legal basis. However, Parliament proposes that the legal basis by which the European Parliament and the Council shall adopt directives, in accordance with the ordinary legislative procedure, is set out in Article 50(1) TFEU .
  • date: 2012-10-10T00:00:00 type: Act adopted by Council after Parliament's 1st reading body: EP/CSL
  • date: 2012-10-25T00:00:00 type: Final act signed body: CSL
  • date: 2012-10-25T00:00:00 type: End of procedure in Parliament body: EP
  • date: 2012-11-14T00:00:00 type: Final act published in Official Journal summary: PURPOSE: the coordination of national safeguards regarding the formation and maintenance of public limited liability companies. LEGISLATIVE ACT: Directive 2012/30/EU of the European Parliament and of the Council on coordination of safeguards which, for the protection of the interests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 54 of the Treaty on the Functioning of the European Union, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent. CONTENT: the Council approved the recast of the existing Directive (Directive 77/91/EEC) that seeks to coordinate Member States’ safeguards, with a view to making them equivalent within the meaning of the Treaty, for the protection of the interests of members and others, in respect of the formation of public limited companies and the maintenance and alteration of their capital. As requested by Parliament, the legal basis of the Directive is Article 50 (1) and (2)(g) of the TFEU. Among other things, the Directive provides that the laws of the Member States shall require that, in order that a company may be incorporated or obtain authorisation to commence business, a minimum capital shall be subscribed the amount of which shall be not less than EUR 25 000. Every five years, the European Parliament and the Council, acting on a proposal from the Commission in accordance with Article 50(1) and (2)(g) of the Treaty, shall examine and, if need be, revise this amount in the light of economic and monetary trends in the Union. ENTRY INTO FORCE: 04/12/2012. docs: title: Directive 2012/30 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012L0030 title: OJ L 315 14.11.2012, p. 0074 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2012:315:TOC
other
  • body: EC dg: url: http://ec.europa.eu/dgs/legal_service/ title: Legal Service commissioner: BARROSO José Manuel
procedure/Modified legal basis
Old
Rules of Procedure of the European Parliament EP 150
New
Rules of Procedure EP 150
procedure/dossier_of_the_committee
Old
JURI/7/05268
New
  • JURI/7/05268
procedure/final/url
Old
http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012L0030
New
https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012L0030
procedure/instrument
Old
Directive
New
  • Directive
  • Repealing Directive 77/91/EEC Repealing Directive 92/101/EEC Repealing Directive 2006/68/EC 2004/0256(COD) Amended by 2012/0150(COD) Repealed by 2015/0283(COD) Amended by 2016/0359(COD) Amended by 2016/0362(COD)
procedure/subject
Old
  • 3.45.01 Company law
  • 3.45.03 Financial management of undertakings, business loans, accounting
New
3.45.01
Company law
3.45.03
Financial management of undertakings, business loans, accounting
procedure/summary
  • Amended by
  • Repealing Directive 2006/68/EC
  • Repealing Directive 77/91/EEC
  • Repealing Directive 92/101/EEC
activities/0/docs/0/celexid
CELEX:52011PC0029:EN
activities/0/docs/0/celexid
CELEX:52011PC0029:EN
activities/0/docs/0/url
Old
http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2011/0029/COM_COM(2011)0029_EN.pdf
New
http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2011/0029/COM_COM(2011)0029_EN.pdf
links/European Commission/title
Old
PreLex
New
EUR-Lex
activities
  • date: 2011-02-01T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2011/0029/COM_COM(2011)0029_EN.pdf title: COM(2011)0029 type: Legislative proposal published celexid: CELEX:52011PC0029:EN body: EC type: Legislative proposal published commission: DG: url: http://ec.europa.eu/dgs/legal_service/ title: Legal Service Commissioner: BARROSO José Manuel
  • date: 2011-02-14T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: True committee: JURI date: 2011-02-28T00:00:00 committee_full: Legal Affairs rapporteur: group: PPE name: LEHNE Klaus-Heiner
  • date: 2011-10-11T00:00:00 body: EP committees: body: EP responsible: True committee: JURI date: 2011-02-28T00:00:00 committee_full: Legal Affairs rapporteur: group: PPE name: LEHNE Klaus-Heiner type: Vote in committee, 1st reading/single reading
  • date: 2011-10-13T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A7-2011-348&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A7-0348/2011 body: EP committees: body: EP responsible: True committee: JURI date: 2011-02-28T00:00:00 committee_full: Legal Affairs rapporteur: group: PPE name: LEHNE Klaus-Heiner type: Committee report tabled for plenary, 1st reading/single reading
  • date: 2011-11-15T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=20662&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-2011-477 type: Decision by Parliament, 1st reading/single reading title: T7-0477/2011 body: EP type: Results of vote in Parliament
  • date: 2012-10-10T00:00:00 body: CSL type: Council Meeting council: Competitiveness (Internal Market, Industry, Research and Space) meeting_id: 3190
  • date: 2012-10-10T00:00:00 body: EP/CSL type: Act adopted by Council after Parliament's 1st reading
  • date: 2012-10-25T00:00:00 body: CSL type: Final act signed
  • date: 2012-10-25T00:00:00 body: EP type: End of procedure in Parliament
  • date: 2012-11-14T00:00:00 type: Final act published in Official Journal docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012L0030 title: Directive 2012/30 url: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2012:315:TOC title: OJ L 315 14.11.2012, p. 0074
committees
  • body: EP responsible: True committee: JURI date: 2011-02-28T00:00:00 committee_full: Legal Affairs rapporteur: group: PPE name: LEHNE Klaus-Heiner
links
National parliaments
European Commission
other
  • body: EC dg: url: http://ec.europa.eu/dgs/legal_service/ title: Legal Service commissioner: BARROSO José Manuel
procedure
dossier_of_the_committee
JURI/7/05268
reference
2011/0011(COD)
subtype
Recast
legal_basis
Treaty on the Functioning of the EU TFEU 050-p2
stage_reached
Procedure completed
summary
instrument
Directive
Modified legal basis
Rules of Procedure of the European Parliament EP 150
title
Public limited liability companies: coordination of safeguards in respect of their formation and the maintenance and alteration of their capital. Recast
type
COD - Ordinary legislative procedure (ex-codecision procedure)
final
subject