Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-09-04-Speech-2-045"
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"en.20070904.4.2-045"2
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"Mr President, the oral question tabled by Mr Gargani, on behalf of the Committee on Legal Affairs, gives me the opportunity to provide you with an update on where the Commission stands regarding the 14th Company Law Directive and the European Private Company (EPC).
As you are aware, and as part of our ‘better regulation’ approach, a public consultation on the EPC statute was launched on 20 July by the Directorate-General for the Internal Market and Services. This consultation aims at gathering stakeholders’ views on the need for such a statute and its possible content.
I know that the European Parliament would like the Commission to accelerate the process. However, we need to do the necessary preparatory work. An essential part of this is to consult stakeholders on different possible regulatory options – that is, a more uniform but less flexible statute, or a statute which gives a lot of freedom to users but results in a variety of EPC structures across the European Union. We need to hear stakeholders’ opinions on which option is the most attractive for companies. That is what better regulation is about.
The feasibility study at the end of 2005 offered a rather general assessment of the current situation, but does not provide a clear answer as to the best policy option and the possible elements of the EPC statute. That is why we need a more in-depth analysis. The study will, of course, provide good background material for our work. We have also benefited from the European Parliament’s report on the EPC statute and its recommendations on the possible content of such a statute.
Concerning the proposal for a 14th Company Law Directive, the preparatory work on this issue has not been conclusive. Our better regulation and impact policy requires us to demonstrate that an initiative has clear economic benefit before embarking upon it. I should be in a position shortly to make a more definitive statement on this issue in regard to the value added of such a proposal.
We need to reflect further before making such a proposal, which, frankly, risks being controversial. As Members know, I am not afraid of being controversial, but I need to be convinced that the potential benefits for the European Union of such an initiative merit a legislative proposal.
This is not about procrastination but about the belief that, to produce good quality work, the preparatory work must be carried out properly. Within the next couple of months I will inform Members of how I intend to proceed on these important issues."@en1
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