Company law: European co-operative society statute passes council hurdle

摘要

EU Ministers have adopted a new set of company law that will make it much easier to set up cross-border European co-operative societies. On July 22, the Council of Ministers adopted the Commission's proposal for a Regulation on the Statutes for a European Cooperative Society (SCE) and the accompanying Directive on worker involvement, which will allow co-operative businesses operating in more than one Member State the possibility of being recognised as a single entity under EU law. The new laws should remove the legal and administrative difficulties facing co-operatives which want to set up at EU level. This decision puts the rubber stamp on the plans that Employment Ministers had agreed on in Council on June 3.