The EC are seeking public consultation on the future of European company law.
If wish to respond to the consultation you can do so here. It has a variety of questions mainly relating to regulatory competition in the EU. One set of questions focuses on the European Model Company Act project that is focusing on producing a European "benchmark" for company law but is not a legal instrument nor does it require Member States to implement a Directive or create a new business form.
It may end up something similar to the Model Articles in the UK, which in practice are rarely used in full. The benefit of the Model Articles is that they do serve as a default and have some legal authority. However, the Model Act does not have this important ingredient. With decades of disagreement with EU Member States over company law evidenced by the Directives on Takeovers and the European Company (Societas Europaea or SE) one must have doubts about the EMCA's belief that Member States will hesitate from deviating from the Model.
However, in principle I do support further harmonisation of company law in Europe. I do have certain qualms about a Model Act with no legal authority though (unless the Member States implement rules from it of course).
If wish to respond to the consultation you can do so here. It has a variety of questions mainly relating to regulatory competition in the EU. One set of questions focuses on the European Model Company Act project that is focusing on producing a European "benchmark" for company law but is not a legal instrument nor does it require Member States to implement a Directive or create a new business form. However, in principle I do support further harmonisation of company law in Europe. I do have certain qualms about a Model Act with no legal authority though (unless the Member States implement rules from it of course).
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