EACB replies to Consultation Document of High Level Group of Company Law Experts

26 July 2002

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In its response to the Consultation the European Association of Co-operative Banks, EACB, highly welcomes any changes designed to remove bureaucratic obstacles in the field of company law.

The creation of new instruments in the area of company law will most probably not take pressure away from European companies that are struggling for competitivity and efficiency but rather increase it, the EACB states. Deregulation should be the basic principle for the work of the European Union in the area of company law.

The European Union in devising new company law regulation and amending existing company law regulation should also distinguish more between listed companies, open companies and closed companies. The particularities of the various types of enterprise should be considered in order to provide as much creative space and flexibility as possible for entrepreneurs to achieve their companies’ aims. Standardising company law indirectly would infringe this.

EACB document

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