Company law on single-member private limited liability companies. Codification

PURPOSE: to codify provisions in the area of company law on single-member private limited-liability companies.

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

CONTENT: the purpose of this proposal is to codify EU provisions on in the area of company law on single-member private limited-liability companies.  In codifying legislative acts that have been amended frequently the EU is seeking to both simplify and clarify EU legislation. The new Directive will supersede the various acts incorporated in it. It fully preserves the content of the acts being codified and hence does no more than bring them together, with only such formal amendments as are required by the codification exercise itself.