European Company Statute

Regulations entitled European Communities (European Public Limited-Liability Company) Regulations 2007 (S.I. 21 of 2007) and European Communities (European Public Limited-Liability Company)(Forms) Regulations 2007 (S.I. 22 of 2007), giving full effect to the European Company Statute were enacted on 22 January 2007. The European Company Statute was adopted (Press Release) on 8 October 2001. It is a new legal instrument based on European Community law that gives companies the option of forming a European Company – known formally by its Latin name of ‘Societas Europeae’ (SE). An SE will be able to operate on a European-wide basis and be governed by Community law directly applicable in all Member States. The European Company Statute is established by two pieces of legislation, namely a Regulation EC 2157/2001 (directly applicable in Member States) establishing the company law rules and a Directive 2001/86/EC on worker involvement. Regulations entitled European Communities (European Public Limited-Liability Company)(Employee Involvement) Regulations 2006 (S.I. 623 of 2006) transposing this directive came into effect on 14 December 2006.