Dáil Éireann Debate, Tuesday - 28 May 2013
328. Deputy Andrew Doyle asked the Minister for Jobs, Enterprise and Innovation if officials in his Department have had discussions with their counterparts in other EU member states or the European Commission regarding the standardisation of limited companies on a pan-European basis; and if he will make a statement on the matter. [25872/13]
View answerThere have been a few initiatives at EU level to introduce standard corporate forms. Two of those initiatives have come to fruition with the adoption of the European Company (the “SE”), which is a public limited company, in 2001 and of the European Cooperative (the “SCE”) in 2006. A proposal from the Commission for a European Foundation, akin to a charity, has begun its passage through the European Parliament and Council, and my colleague the Minister for Justice and Equality is leading the Irish position on this.
A proposal from the European Commission to introduce a European Private Company (the “SPE”), introduced in 2008, is not being advanced at this point as Member States were not able to find common ground on certain key features. In light of this impasse, the Commission signalled in its recent Action Plan on European company law and corporate governance (published 12 December 2012) that it will spend time this year and next considering alternatives that would enhance cross-border opportunities for SMEs, such as proposals for mechanisms that would make it easier for companies to establish in other EU Member States without undue administrative burden. The main area of likely action here is a possible proposal on transfer of registered office, so that companies can move to another EU Member State without having to first wind up in their home state. Again, the Commission’s Action Plan on European company law and corporate governance states that the Commission will investigate options and may bring forward a proposal within the next year or so.
Officials in my Department have had discussions with both other Member States and the Commission on all of these proposals, with the exception of the European Foundation where the Department of Justice and Equality takes the lead, in the context of the Council negotiations, the Commission’s Company Law Expert Group and / or as part of our preparations for the Irish Presidency programme as each arose on the EU’s company law agenda over the last few years.
