Resolution on the European Private Company and the Fourteenth Company Law Directive on the transfer of the company seat

The European Parliament adopted a resolution on the European Private Company and the Fourteenth Company Law Directive on the transfer of the company seat. In view of the fact that the EU regulatory framework for company law and corporate governance needs to be adapted to take account of the growing trend for European companies to operate cross-border within the EU, Parliament welcomed the Commission's announcement that it would present a legislative proposal on the Statute of the European Private Company no later than 30 June 2008, stressing that it expects that legislative proposal to be formally included in the Commission's legislative work programme for 2008. It trusted that the Commission would not fail to act and will present a proposal by the deadline of 30 June 2008 as announced.

However, Parliament regretted that the Commission, after a considerable delay, had now informed Parliament that it intended to make no legislative proposal for a Fourteenth Company Law Directive on the transfer of the seat. Parliament reserved the right, nevertheless, to take further action with regard to the question of cross-border transfers of company seats.