European and comparative company law

Mads Andenas; Frank Wooldridge

doi:10.1017/CBO9780511770494.003

2 - European and comparative company law

Published online by Cambridge University Press: 04 August 2010

Mads Andenas and

Frank Wooldridge

Show author details

Mads Andenas: Affiliation:
Universitetet i Oslo
Frank Wooldridge: Affiliation:
British Institute of International and Comparative Law

Book contents

Get access

Summary

Harmonisation and free movement

Treaty provisions

It is now recognised generally that although there is no question of the total approximation or harmonisation of the company laws of the Member States, a considerable body of European company law has been brought into existence. This has come about mainly through the enactment of directives under Articles 44(2)(g) and 95 EC (former Articles 54(3)(g), 100a EC). The first mentioned Article is set out in Chapter 2, ‘Right of establishment of Title II EC, “free movement of persons, services and capital”’. It provides:

The Council and the Commission shall carry out the duties devolving on them under the preceding provisions, in particular (g) by coordinating to the necessary extent the safeguards which for the protection of the interests of members and others, are required by Member States of companies within the meaning of Article 48(2) with a view to making such safeguards equivalent throughout the community.

Article 44(2)(g) EC is the basis for nearly all enacted directives in European company law. Despite its position in Chapter 2 of the Treaty, the Community institutions pursue a broad interpretation which is orientated towards the aims of the Treaty. In that view also measures with the purpose of approximating the prevailing conditions of company law can be based on it as long as they have beneficial effect on cross-border transactions.

Information

Type: Chapter
Information: European Comparative Company Law , pp. 7 - 51

DOI: https://doi.org/10.1017/CBO9780511770494.003 [Opens in a new window]

Publisher: Cambridge University Press

Print publication year: 2009

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Book purchase

Temporarily unavailable

References

Werlauff, E., EU Company Law. Common Business Law for 28 States, 2nd edn (Copenhagen: DJØF Publishing, 2003)Google Scholar

Grundmann, S., Europäisches Gesellschaftsrecht (Heidelberg: C. F. Müller, 2003)Google Scholar

Edwards, V., EC Company Law (Oxford: Clarendon Press, 1999)Google Scholar

Habersack, M., Europäisches Gesellschaftsrecht (Munich: Beck, 1999)Google Scholar

Stein, E., Harmonization of European Company Laws (1971) 174–182.

Heinze, S., Europäisches Kapitalmarktrecht (Munich: Beck, 1999), p. 12Google Scholar

Thoma, G. F. and Leuering, D., ‘Die Europäische Aktiengesellschaft – Societas Europaea’ [2000] Neue Juristische Wochenschrift1449Google Scholar

Stein, E., Harmonization of European Company Laws (1971), p. 525.

Werlauff, E., EC Company Law (Copenhagen: Jurist– og Økonomforbundets, 1993), pp. 15–17.Google Scholar

Goldman, B. ‘La fusion des sociétés et le projet de convention sur la fusion internationale des sociétés anonymes’ [1981] 17 CDE4.Google Scholar

Farmer, P. ‘Removing legal obstacles to cross-border mergers: EEC proposal for a tenth directive’ [1987] Business Law Review 35 f., 53Google Scholar

Usher, J., The Law of Money and Financial Services in the European Community (Oxford: EC Law Library, 2000), pp. 91–6.Google Scholar

Rammeloo, St, Corporations in Private International Law – a European perspective (Oxford University Press: 2001), pp. 72–85Google Scholar

Schwarz, G. C., Europäisches Gesellschaftsrecht (Baden-Baden: Nomos, 2000)Google Scholar

Hopt, K., Kanda, H., Roe, M., Wymeersch, E. and Prigge, St (eds), Comparative Corporate Governance (Oxford: Clarendon Press, 1998), pp. 1045

Hopt, K. ‘Europäisches Gesellschaftsrecht – Krise und neue Anläufe’ [1988] Zeitschrift für Wirtschaftsrecht (ZIP) 96, 103Google Scholar

Lutter, M., ‘Die Entwicklung der GmbH in Europa und in der Welt’, in Lutter, M. (ed), Festschrift 100 Jahre GmbH-Gesetz (Baden-Baden: Nomos, 1992), pp. 49–55Google Scholar

Morse, G., ‘The Second Directive – raising and maintenance of capital’ [1977] European Law Review126Google Scholar

Wooldridge, F., Company Law in the United Kingdom and the European Community (London: Athlone Press, 1991), pp. 25 ff.Google Scholar

Wymeersch, E., ‘Company Law in the Twenty-First Century’ [2000] 1 International and Comparative Corporate Law Journal 331, 332–5Google Scholar

Pettet, B., ‘Private versus Public Regulation in the fields of Takeovers: The Future under the Directive’ [2000] 11 European Business Law Review381CrossRef Google Scholar

Du Plessis, Dine, ‘The Fate of the Draft Fifth Directive on Company Law – Accomodation Instead of Harmonisation’ [1997] Journal of Business Law 23Google Scholar

Grundmann, S., Europäisches Gesellschaftsrecht (Heidelberg: C. F. Müller, 2003)Google Scholar

Marco, G. di, ‘Der Vorschlag der Kommission für eine 14. Richtlinie – Stand und Perspektiven’ [1999] Zeitschrift für Gesellschaftsrecht3Google Scholar

Wouters, J. and Schneider, H. (eds), Current Issues of Cross-Border Establishment of Companies in the European Union (Antwerp: Apeldoorn, 1995)

Hansen, J. P. ‘A new look at Centros – from a Danish point of view’ [2002] 13 European Business Law Review85, 86.CrossRef Google Scholar

Drury, , ‘Migrating Companies’ [1999] ELR 354, 362.Google Scholar

Wooldridge, F., Company Law in the United Kingdom and the European Community (London: Athlone Press, 1991), p. 8Google Scholar

Menjucq, M., Droit européen des sociétés (Paris: Montchrestien, 2001) pp. 301 f., 309 f.:Google Scholar

Bruhn, H., Niederlassungsfreundliche Sitzverlegung und Verschmelzung über die Grenze nach italienischem Recht – eine rechtsvergleichende Untersuchung unter Berücksichtigung der europäischen Niederlassungsfreiheit (Bonn: Diss, 2002) pp. 142–97 and 197–234.Google Scholar

Deininger, R. A., Grenzüberschreitende Verlegung des Hauptverwaltungssitzes und der Geschäftsleitung von Kapitalgesellschaften – eine Betrachtung unter europarechtlichen, gesellschaftsrechtlichen und steuerrechtlichen Gesichtspunkten (Herdecke: GCA, 2001)Google Scholar

Hommelhoff, , ‘Zum revidierten Vorschlag für eine EG-Konzernrichtlinie’, in Goedeler, Reinhard (ed), Festschrift Fleck (Berlin: de Gruyter, 1988), p. 125.Google Scholar

Basedow, J. (ed), Aufbruch nach Europa, Festschrift 75 Jahre Max-Planck-Institut für Privatrecht (Tübingen: Mohr Siebeck, 2001), p. 215

Lübking, J., Ein einheitliches Konzernrecht für Europa (Baden-Baden: Nomos, 2000)Google Scholar

Sugarman, D. and Teubner, G. (eds), Regulating Corporate Groups in Europe (Baden-Baden: Nomos, 1990)

Wymeersch, E., ‘Harmoniser le droit des groupes de sociétés en Europe? ’, in Due, O. (ed), Festschrift Everling (Baden-Baden: Nomos, 1995), p. 1699.Google Scholar

Werlauff, E., EC Company Law (Copenhagen: Jurist– og Økonomforbundets Forlag, 1993), 408 ff.Google Scholar

Werlauff, E., EU Company Law, 2nd edn (Copenhagen: Jurist– og Økonomforbundets Forlag, 2003).Google Scholar

Tiebout, , ‘A Pure Theory of Local Expenditures’ [1956] 64 Journal of Political Economy416 ff.CrossRef Google Scholar

Esty, D. C. and Geradin, D., ‘Regulatory Co-operation’ [2000] Journal of International Economic Law 235, 238 fGoogle Scholar

Gatsios, K. and Holmes, P., ‘Regulatory Competition’, in Newman, P. (ed.), The New Palgrave of Economics and the Law, vol. 1 (London, 1998), p. 271.Google Scholar

Schumpeter, J. A., The Theory of Economic Development – An Inquiry into Profits, Capital, Credit, Interest and the Business Cycle (Cambridge, 1934)Google Scholar

Hayek, F. A., ‘Competition as a Discovery Procedure’ in: Hayek, F. A. (ed), New Studies in Philosophy, Politics, Economics and the History of Ideas (Chicago: University Press, 1985), pp. 179 ffGoogle Scholar

Kerber, W., ‘Rechtseinheitlichkeit und Rechtsvielfalt aus ökonomischer Sicht,’ in Grundmann, S. (ed), Systembildung und Systemlücken in Kerngebieten des Europäischen Privatrechts, Gesellschaftsrecht, Arbeitsrecht, Schuldvertragsrecht (Tübingen: Mohr Siebeck, 2000), pp. 67, 68Google Scholar

Bebchuk, L. A., ‘Federalism and the Corporation: The Desirable Limits on State Competition in Corporate Law’ [1992] 105 Harvard Law Review1435, 1444–8CrossRef Google Scholar

Alva, , ‘Delaware and the Market for Corporate Charters – History and Agency’ [1990] 15 Delaware Journal of Corporate Law885 ff.Google Scholar

Buxbaum, R. M. and Hopt, K., Legal Harmonization and the Business Enterprise – Corporate and Capital Market Law Harmonization Policy in Europe and the U.S.A. (de Gruyter Berlin/New York 1988) pp. 25 ff.Google Scholar

Romano, , The Genius of American Corporate Law (Washington, 1993), pp. 14 ff.Google Scholar

Butler, , ‘Nineteenth Century Jurisdictional Competition in the Granting of Corporate Privileges’ [1985] 14 Journal of Legal Studies129 ff.CrossRef Google Scholar

Conard, , ‘An Overview of the Laws of Corporations’ [1973] 71 Michigan Law Review623 ff.CrossRef Google Scholar

Deakin, S., ‘Legal Diversity and Regulatory Competition: Which Model for Europe?’ (2006) 12 European Law Journal440.CrossRef Google Scholar

Schmitthoff, C. M., ‘The Future of the European Company Law Scene’, inSchmitthoff, C. M. (ed), The Harmonization of European Company Law (UK: National Committee of Comparative Law, 1973) 3, 9Google Scholar

Rammeloo, S., Corporations in Private International Law (Oxford: Oxford University Press, 2001), pp. 116–20.Google Scholar

Menjucq, M., Droit international et européen des sociétés (Paris: Montchrestien, 2001). pp. 90–95.Google Scholar

Bratton, W., McCahery, J., Piccioto, S. and Scott, C. (eds), International Regulatory Competition and Coordination – Perspectives on Economic Regulation in Europe and the United States (Oxford: Clarendon Press, 1996), pp. 127, 141.

Romano, R., The Genius of American Corporate Law (Washington, 1993), p. 133Google Scholar

Grundmann, S., ‘Wettbewerb der Regelgeber im Europäischen Gesellschaftsrecht – jedes Marktsegment hat seine Struktur’ [2001] Zeitschrift für Gesellschaftsrecht783Google Scholar

Wymeersch, E., ‘Company Law in the Twenty-First Century’ [2000] 1 International and Comparative Corporate Law Journal331, 339.Google Scholar

Grundmann, S., ‘Das Thema Systembildung und Systemlücken’, in Grundmann, S. (ed), Systembildung und Systemlücken in Kerngebieten des Europäischen Privatrechts, Gesellschaftsrecht, Arbeitsrecht, Schuldvertragsrecht (Tübingen: Mohr Siebeck, 2000), pp. 1, 16.Google Scholar

Lomnicka, E., ‘The Home Country Control Principle in the Financial Service Directives and the Case Law’, in Andenas, M. and Roth, W-H., Services and Free Movement in EU Law (Oxford: Oxford University Press, 2002), pp. 295, 315.Google Scholar

Gonzalez, J. P., ‘The Principle of Subsidiarity (a Guide for Lawyers with a Particular Community Orientation’ [1995] European Law Review 355Google Scholar

Toth, A. K., ‘The Principle of Subsidiarity in the Maastricht Treaty’ [1992] 29 CMLR1079.Google Scholar

Hopt, K. J., ‘Company Law in the European Union: Harmonization and/or Subsidiarity’ [1999] 1 International and Comparative Corporate Law Journal41, 48.Google Scholar

Wymeersch, E., ‘Company Law in the Twenty-First Century’ [2000] 1 International and Comparative Corporate Law Journals331, 332–5Google Scholar

Grundmann, S., Europäisches Gesellschaftsrecht (Heidelberg: C. F. Müller, 2003), para. 248.Google Scholar

Schmitthoff, C. M. (ed), The Harmonization of European Company Law (UK: National Committee of Comparative Law, 1973), pp. 66, 75.

Habersack, M., Europäisches Gesellschaftsrecht (Munich: Beck, 1999), para. 283 ff.Google Scholar

Boucourechliev, J. and Hommelhoff, P. (eds), Vorschläge für eine Europäische Privatgesellschaft – Strukturelemente einer kapitalmarktfernen europäischen Gesellschaftsform nebst Entwurf für eine EPG-Verordnung der Europäischen Gemeinschaft (Cologne: O. Schmidt, 1999)

Hommelhoff, P. and Helms, D. (eds), Neue Wege in die Europäische Privatgesellschaft – Rechts– und Steuerfragen in der Heidelberger Diskussion (Cologne: O. Schmidt, 2001)

Kluiver, H-J. and Gerven, W. (eds), The European Private Company? (Antwerp: Maklu, 1995).

Schwarz, G. C., Europäisches Gesellschaftsrecht (Baden-Baden: Nomos, 2000)Google Scholar

Grundmann, S., ‘The Structure of European Company Law: From Crisis to Boom’ (2004) 5 European Business Organisation Law Review601CrossRef Google Scholar

Drury, and Xuereb, (eds), European Company Laws: A Comparative Approach (Aldershot: Dartmouth, 1991), p. 87.

Ochs, V., Die Einpersonengesellschaft in Europa – eine rechtsvergleichende Studie zum Recht der Einpersonen-GmbH in Deutschland, Frankreich, Italien und England (Baden-Baden: Nomos, 1997), p. 29.Google Scholar

Ault, H. J. ‘Harmonization of Company Law in the European Economic Community’ [1968] 20 Hastings Law Journal 77, 103 fGoogle Scholar

Stein, E., Harmonization of European Company Laws (Bobb's Merrill, 1971), pp. 292–4Google Scholar

Wyatt, D., ‘The First Directive and Company Law’ [1978] 94 LQR182.Google Scholar

Habersack, M., Europäisches Gesellschaftsrecht (Munich: Beck, 1999), para. 105Google Scholar

Schmitthoff, , ‘The Second Directive on Company Law’ [1976] 15 CMLRev 43, 53–4.Google Scholar

Schmitthoff, , ‘The Second Directive on Company Law’ [1976] 15 CMLRev 43, 54.Google Scholar

Gansen, G., Harmonisierung der Kapitalaufbringung im englischen und deutschen Kapitalgesellschaftsrecht – Vergleichende Studie zur Zweiten Gesellschaftsrechtlichen EG-Richtlinie (Frankfurt: P. Lang, 1992).Google Scholar

Schmitthoff, C. (ed.), The Harmonization of European Company Law (London: UK National Committee of Comparative Law, 1973), p. 66

Striebeck, C., Reform des Aktienrechts durch die Strukturrichtlinie der Europäischen Gemeinschaften (Frankfurt am Main: Lang, 1992), p. 33 f.Google Scholar

Davies, P., ‘Board Structure in the UK and Germany: Convergence or Continuing Divergence?’ [2001] 2 International and Comparative Corporate Law Journal435.Google Scholar

Roth, M., Unternehmerisches Ermessen und Haftung des Vorstands (Munich: Beck, 2001).Google Scholar

Wiethölter, , Interessen und Organisation der Aktiengesellschaft im deutschen und amerikanischan Recht (Karlsruhe: C. F. Müller, 1961).Google Scholar

Stein, E., Harmonization of European Company Laws (1971) (Bobbs Merrill, 1971), p. 100, n. 32Google Scholar

Accessibility standard: Unknown

Accessibility compliance for the PDF of this book is currently unknown and may be updated in the future.