Draft bill for the SE (European Company) published
The EU Council order on the Societas Europaea (SE or European Company) requires member states to amend their national legislation as necessary for SE's to be formed locally in time for them to begin active trading as of January 1, 2005. The deadline set by the EU for the national legislature is October 8, 2004. To this end the Ministry of Justice has drafted an SE Introduction Bill jointly with the Ministry of the Economy and Labour. It intends to lay this bill before the cabinet at the next reasonable opportunity and then hopes for a speedy process through Parliament.
The Bill seeks to legislate two new statutes into law, the SE Implementation Act and the SE Participation Act. It would also change a number of other statutes - mostly regulating the processes of litigation - in order to give the SE from the outset full scope to deport its legal personality. The Implementation Act transposes the European Council Order (EC)
