EP adopted resolution on Disclosure Requirements

12 March 2003

Parliament adopted the legislative resolution on disclosure requirements in respect of certain types of companies. The new directive will apply to all limited liability EU-companies. No distinctions are made according to sector, company size, or location. Member States will, however, be able to provide for certain exemptions for SMEs.

The main changes seek to provide Member States with the possibility to delay the implementation of the Directive requirements for a further two years, but no later than 1 January 2007. After that date companies will be able to file any commercial register documents or particulars by electronic means. The Member States’ commercial registers will gradually be converted into electronic registers. Those wishing to obtain copies of documents or particulars entered in a register will be able to submit their applications by electronic means.

Report

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