Statute for A European Company
Statute for A European Company : The Statute for a European Company, with the Latin name Societies European (SE), became subject to Community law as of 8 October 2004. It will provide enterprises with an optional new instrument, which will make cross-border enterprise management more flexible and less bureaucratic, and should help improve the competitiveness of Community enterprises. These will make it possible for a company to be set up within the territory of the Community in the form of a public limited-liability company (Regulation 2157/2001), and to operate Community-wide while being subject to Community legislation directly applicable in all European Union (EU) Member States. Several options will be available to enterprises from at least two EU Member States wishing to form an SE: a merger; a holding company; the creation of a subsidiary; or transformation into an SE. The statute will allow a public limited liability company that has its registered office and head office within the Community to transform itself into an SE without going into liquidation. The SE will be entered in a register in the EU Member State where its registered office is situated, and must take the form of a company with share capital. The rules relating to employee involvement in the SE are the subject of the Directive 2001/86/EC of 8 October 2001, whose provisions seek to ensure that the creation of an SE does not entail the disappearance or reduction of practices of employee involvement existing within the companies participating in the establishment of an SE. Given the diversity of rules and practices in the EU Member States as regards the manner in which employees' representatives are involved in decision-making within companies, a single European model is not intended. Nevertheless, procedures for the information and consultation of workers at transnational level will be ensured. When rights to participate exist within one or more of the companies establishing an SE, those rights will be preserved through their transfer to the SE, once established, unless the parties involved decide otherwise within the special negotiating body, which brings together the employees' representatives of all companies concerned. Procedures for the information and consultation of workers at transnational level will also be ensured. The regulation on the Statute for a European Company and the Council Directive supplementing the Statute for a European. Company with regard to the involvement of employees will enter into force together, three years after adoption. See: Community-scale group of undertakings; Consultation of employees in a European Company; Information of employees in a European Company; Involvement of employees in a European Company
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