| Author (Corporate) | European Commission: Press and Communication Service |
|---|---|
| Series Title | Press Release |
| Series Details | IP/01/1376 (8.10.01) |
| Publication Date | 08/10/2001 |
| Content Type | News |
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The European Commission has welcomed the formal adoption by the EU's Employment and Social Affairs Council on 8 October 2001 on the Regulation to establish a European Company Statute (ECS) and on the related Directive concerning worker involvement in European Companies. The European Company (known by its Latin name of 'Societas Europaea' or SE) will now become a reality some 30 years after it was first proposed. The SE will give companies operating in more than one Member State the option of being established as a single company under Community law and so able to operate throughout the EU with one set of rules and a unified management and reporting system rather than all the different national laws of each Member State where they have subsidiaries. For companies active across the Internal Market, the European Company therefore offers the prospect of reduced administrative costs and a legal structure adapted to the Internal Market as a whole. |
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| Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=IP/01/1376&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Subject Categories | Law |
| Countries / Regions | Europe |
