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Katharina Ludwig - Die Rechtsstaatlichkeit in der Erweiterungs-, Entwicklungs- und Nachbarschaftspolitik der Europäischen Union

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Katharina Ludwig

Die Rechtsstaatlichkeit in der Erweiterungs-, Entwicklungs- und Nachbarschaftspolitik der Europäischen Union

Reihe: Schriftenreihe Europäisches Verfassungsrecht

Band 35 2011

Treffer in den folgenden Teilen:

Literaturverzeichnis S. 217-228

„… Arnull, The Rule of Law in the European Union, in: Ders./ Wincott (Hrsg.), Accountability and Legitimacy …” „… : European Journal of International Law 9 (1998), 468 ff. Buchwald, Delf, Zur Rechtsstaatlichkeit der …” „… 2009, Beiheft 1, 71 ff. Fernandez Esteban, Maria Luisa, The Rule of Law in the European Constitution …”

Mehr als die allgemeinen Rechtsgrundsätze: das Prinzip »Rechtsstaat« als außenpolitisches Instrument S. 214-216

„… verbergen muss, wird man die Frage, ob sich in den Außenbeziehungen der EU eine European Rule of Law als ein …” „… Begriffsverständnis einer European Rule of Law reichen die Erkenntnisse, die sich aus der Außenperspektive, d.h. aus …” „… European Rule of Law als Anwendungsfall eines gemeineuropäischen Rechts, doch zeigt es eine European Rule …”

Weniger gefestigt als ein nationales Rechtsstaatsverständnis S. 213-214

„… im Ergebnis aus, um dafür einen dogmatischen Begriff wie European Rule of Law zu finden? Stellt sie …” „… verbergen muss, wird man die Frage, ob sich in den Außenbeziehungen der EU eine European Rule of Law als ein …” „… Begriffsverständnis einer European Rule of Law reichen die Erkenntnisse, die sich aus der Außenperspektive, d.h. aus …”

Einleitung S. 13-18

„… European Rule of Law6 als Anwendungsfall eines gemeineuropäischen Rechts, herausbildet. Die Untersuchung …” „… impliziert dabei auch die Frage nach der Notwendigkeit einer European Rule of Law für die Zukunft der EU und …” „… Entwicklung einer European Rule of Law führen können. Die Untersuchung nimmt dabei schwerpunktmäßig eine …”

Die strategische Herausforderung der ENP S. 178-182

„… ENP: The EU's Newest Foreign Policy Instrument, in: European Foreign Affairs Review 11 (2006), 139 ff …” „… Alternative to Enlargement, in: European Foreign Affairs Review 11 (2006), 183 ff. (189 f.). Vgl. auch …” „… Reiterer, The 'Union for the Mediterranean' as Part of the ENP, in: European Foreign Affairs Review 14 …”

Justizreform S. 203-204

„… 203 3. Teil: Die European Rule of Law als Anwendungsfall eines gemeineuropäischen Rechts …” „… . Teil Bilanz gezogen werden, ob sich die Ergebnisse zu einer European Rule of Law als Anwendungsfall …” „… Rechtsstaatsverständnisses ziehen lassen (B.), bevor zuletzt ein Fazit für die European Rule of Law gezogen wird (C.). A. Das …”

Die rechtlichen Rahmenbedingungen S. 61-66

„… allgemeinen Rechtsgrundsätze des EuGH gebündelt und mit dem Etikett »European Rule of Law« versehen werden …” „… eine European Rule of Law geschaffen? Denn wie auch immer man das Verhältnis von mitgliedstaatlichem …” „… Rechtstechnisch-Positiven« handeln soll. Insofern fragt der zweite Teil nach der European Rule of Law in der …”

Titelei/Inhaltsverzeichnis S. 2-12

„… der Europäischen UnionEntwicklung einer European Rule of Law?Nomos1. Auflage 2011© Nomos …” „… etwas wie ein europäisches Rechtsstaatsverständnis gibt, eine »European Rule of Law« als Anwendungsfall …” „… 200 3. Teil: Die European Rule of Law als Anwendungsfall eines gemeineuropäischen Rechts? 203 A. Das …”

Ausblick S. 216

„… 216 III. Ausblick Im Ergebnis hat sich somit (noch) keine European Rule of Law in der europäischen …” „… Außenbeziehungen der Europäischen Union von einer European Rule of Law gesprochen werden könnte. Schon jetzt …” „… the Internationalisation of Law abzuschließen: »A road-building project is unlikely to succeed if …”

Gründe für die ENP S. 173-178

„… we Heading?, in: European Neighbourhood Policy, 2007, 15 ff. (20). 576 Emerson/Noutcheva/Popescu, ENP …” „… EU Promote Democracy and Human Rights Through the ENP? The Case for Refocusing on the Rule of Law …” „… Rights Through the ENP? The Case for Refocusing on the Rule of Law, EUI Workshop, The ENP: A Framework …”

Die Entwicklung der allgemeinen Rechtsgrundsätze S. 49-53

„… , General Principles of German and European Administration Law, in: The Modern Law Review 57 (1994), 191 ff …” „… : Calliess/Ruffert, 2007, Rn. 19 ff.; Fernandez Esteban, The Rule of Law in the European Constitution, 1999, 155 ff …” „… General Principles of EU Law, 2008, 1. 51 möglicherweise um etwaigen Anschuldigungen zuvorzukommen, man …”

Die Entwicklungszusammenarbeit mit den AKP-Staaten S. 134-158

„… Jahresberichten keine kohärente Kategorie von »rule of law-promotion-Projekten«. Mitunter dienen sehr ähnliche …” „… Länderberichte von 2007 in diesem Sinne zu ordnen. aa) Rule of law-promotion Es finden sich unter den 2007 Annual …” „… Reports einige Entwicklungsprojekte, welche ausdrücklich der Zielsetzung rule of law-promotion zugeordnet …”

Problem: Interessen der EU jenseits der ENP S. 182-184

„… : 'Realistically Dealing with Authoritarianism?', in: European Foreign Affairs Review 13 (2008), 357 ff …” „… .; Dannreuther, Developing the Alternative to Enlargement, in: European Foreign Affairs Review 11 (2006), 183 ff …” „… , Security and Justice?, in: European Neighbourhood Policy, 2007, 87 ff. (insbes. 98 f.). Vgl. auch Bosse …”

Unterschiedliche Ausformungen von Rechtsstaatlichkeit innerhalb der Mitgliedstaaten S. 33-49

„… Mitgliedstaaten in erheblichem Maße beeinflusst, so dass die Frage nach einer European Rule of Law ihren …” „… und den Schutz von Individualrechten in einem rule of law-Konzept zu vereinen. Den scheinbaren …” „… Textversion von »principles of [...] the rule of law« und in der französischen von »principes [...] de l'État …”

Die Folgen von Diplomatie, Wirtschaftlichkeit und Pragmatik S. 212-213

„… Begriff wie European Rule of Law zu finden? Stellt sie überhaupt ein »Mehr« zum Rechtsstaatskonzept der …” „… verwirklichen zu können. Dabei ist diese institutionenfixierte Sichtweise, gerade was die rule of law promotion …” „… Entwicklungszusammenarbeit und 726 Kleinfeld, Competing Definitions of the Rule of Law, in: Promoting the Rule of Law Abroad …”

Formell oder materiell S. 206-209

„… internationalen Ebene, in: ZÖR 58 (2003), 1 ff. (5). 715 Fernandez Esteban, The Rule of Law in the European …” „… law-promotion faire Verfahrensregeln sowie einen leichten Zugang zu den Gerichten, inklusive der Schaffung eines …” „… 19 (1947/48), 679 ff. (684). 714 Merten, Rule of Law am Scheideweg von der nationalen zur …”

Formelle und materielle Rechtsstaatskonzeptionen S. 21-26

„… Rule of Law and the European Union, 2007, 79. 36 So auch Hague Institute for the Internationalisation …” „… Craig, Formal and Substantive Conceptions of the Rule of Law, in: Public Law 1997, 467 ff. (467). 24 …” „… : Gustav Radbruch Gesamtausgaben, Bd. II, 1993, 206 ff.; Raz, The Authority of Law, 1979. 34 Radbruch …”

Ergebnisse: rechtsstaatliche Anforderungen in der Erweiterungspolitik S. 118-126

„… 'European standards'« erfüllten.340 Derartiger Kritik muss zugestanden werden, dass, wenn die Union es im …” „… to freely select and control their government, whereas the rule of law sets up rules to restrict the …” „… Membership, in: Handbook on European Enlargement, 2002, 90 ff. (4.2.2.2). 347 Böckenförde, Demokratie als …”

Der Inhalt der allgemeinen Rechtsgrundsätze S. 53-59

„… .; Fernandez Esteban, The Rule of Law in the European Constitution, 1999, 155 ff.; Pechstein, Art. 6 EUV, in …” „… , den »principles which derive from the rule of law«157 zugeordnet. Da sie jedoch in Art. 2 und Art. 6 …” „… Principles of EU Law, 2008, 4; Zuleeg, Die EG als Rechtsgemeinschaft, in: NJW 1994, 545 ff. (546 ff.). 157 …”

Die Bedeutung der Rechtsstaatlichkeit im Rahmen der ENP S. 185-200

„… / enpi-south/index_en.htm (März 2011). 665 Pardo/Zemer, Towards a New Euro-Mediterranean Neighbourhood Space, in: European …” „… : What's at Stake with the ENP towards the Southern Mediterranean, in: European Foreign Affairs Review 10 …” „… als Steuerungsinstrument zusätzlich ab, denn als soft law haben sie ohnehin bereits keine unmittelbare …”

Die Entwicklungszusammenarbeit jenseits des AKP-Raumes S. 158-170

„… rule of law-promotion zugeordnet werden.540 Sie betreffen dann jedoch ähnliche Maßnahmen wie schon im …” „… europäischen Entwicklungspolitik fehlen. Sofern Entwicklungsprojekte jedoch eindeutig der rule of law-promotion …” „… seit der Reform vom European Neighbourhood Policy Instrument530, dem ENPI, erfasst, die westlichen …”

doi.org/10.5771/9783845231068

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European Company Case Law (ECCL)

Alle Ausgaben: European Company Case Law (ECCL)

ECCL Jahrgang 1 (2023) Heft 1 ISSN Online: 2752-1788

Treffer in den folgenden Teilen:

Titlepages and Teaser S. 1-19

„… an-nual accounts (2006/43/EC)EuropeanCorporate LawInternational and European Business Lawby Schulze …” „… For All Issues on EU Company LawThe purpose of the European directives on cor-porate law is to …” „… / LehmannArticle-by-Article CommentaryKindler / LiederEuropean Corporate LawArticle-by-Article CommentaryEdited by Prof. Dr …”

Beate Sjåfjell Corporate sustainability and due diligence S. 5-30

„… , University of Oslo, Faculty of Law, Visiting Professor, College of Europe, European Legal StudiesDepartment …” „… . 2020-02, Nordic & European Company Law Working Paper No. 21-12, Available …” „… , Nordic & European Company Law Working Paper No. 20-08, Available atSSRN: https://ssrn.com/abstract …”

Joachim Wutte Employee involvement protection in the transformation to a Societas Europaea (SE) – feedback from national law to identify indispensable elements. S. 95-104

„… SNB’s agreement. However,since European Union law was at stake, the BAG stayed the proceedings and …” „… of employee involve‐ment law, protection should not be limited to European citizens (adhering to …” „… establishments outside the European UnionRooting the equal treatment principle in primary EU law points to …”

Iris M. Barsan Scope and private enforcement of corporate sustainability due diligence requirements – A comparative approach S. 31-54

„… enabled by the case law of the EuropeanCourt of Justice (ECJ),22 in spite of the directive (EU) 2019/2121 …” „… . French law – and the European proposal doesrefer to national law for the conditions of joint and several …” „… 24, 2020). Nordic & European Company Law Working Paper No. 20-02,Available …”

Paolo Manzoni ECB supervision and national law. S. 105-114

„… withthe national law that implements them and likewise that all the relevant European lawmust be fully …” „… down some implications relatedto the relationship among national law and European law in the context of …” „… precedents of the European Court of Justice that require theinterpretation of national law in conformity with …”

Mónica Fuentes, Javier Megías Sustainability in Spanish company law: State of the art and a special reference to the new SBIC (Sociedad de beneficio e interés común) S. 79-94

„… ” European lawAs noted at the beginning of this paper, the reform of the LSC by means of Law 5/2021has …” „… under Spanish law . . . . . . . . . . . . . . . 83II. Implementing European law: non-financial reporting …” „… legislatior“beyond” European law . . . . . . . . . . . . . . . . 86D. Final reflections on the future implemen‐tation …”

Pantelis Ant. Markoulis Grounds for nullity of a company limited by shares (S.A.) under domestic law. S. 115-122

„… case-lawThe Court of Justice of the European Communities was called on to interpret the provi‐sions of the …” „… (Commercial Law Overview),2005, pp. 504-516.18 Directive (EU) 2017/1132 of the European Parliament and of the …” „… Grounds for nullity of a company limited by shares (S.A.) underdomestic law.Case note on Greek …”

Lucian Bercea The truth is in the details: New conditions for company directors’ liability in insolvency proceedings? S. 123-130

„… , Andrea, European Company Law, DeGruyter, Berlin / Boston, 2021, 230).15 This does not contradict the idea …” „… mechanisms for the harmonization of the national case-law1 illustratethe idea that the reasoning of a court …” „… initialpurpose (and scope) of the decision. Romanian company law is not immune to thesecollateral effects: one …”

Jan Lieder, Sarah Meyer Supply chain act and liability under German law S. 55-78

„… under the conflict of lawsWhat we said so far is based on the assumption that German law applies when …” „… of German and European law, but positively a matter of applyingGerman law.186 Moreover, the …” „… Business Law,Labor and Social Law at the Albert-Ludwigs-University of Freiburg and judge at the Higher …”

doi.org/10.5771/2752-177X-2023-1

Gerhard Robbers - An Introduction to German Law

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Gerhard Robbers

An Introduction to German Law

Reihe: NomosEinführung

Band 2023

Treffer in den folgenden Teilen:

E. European law S. 255-261

„… European lawStructuresToday, European law is closely interwoven with German law. On the one hand …” „… Europe.Sources of lawIn European Union law, primary law is distinguished from secondary law and from subsidiary …” „… values.E.I.II.1. E.25510241025102610271028Primary lawThe primary law of the European Union is formed by a …”

Titelei/Inhaltsverzeichnis S. 1-16

„… Constitutional and Administrative LawI. 34Constitutional LawII. 38Administrative LawIII. 70Criminal LawC. 114 …” „… MattersXIV.245European lawE. 255StructuresI. 255The European UnionII. 2559International lawF. 262StructuresI …” „… Lawa) 18Substantive and Adjective Lawb) 19Relationship to European and International Lawc) 19Sources of …”

A. General Structures S. 17-33

„… of litigation (evidence).Relationship to European and International LawThe law of the European Union …” „… European law. In addition, there are similar collections covering various state laws and certain …” „… not at least touched, if not moulded, by the law of the European Union. This development is new in …”

F. International law S. 262-264

„… International lawStructuresInternational law is a legal order between states. It consists of …” „… general rules of international law are part of federal law. They take precedence over the laws and create …” „… principles and rules; its sources are international treaties, customary international law and general …”

Index S. 311-318

„… ff.Law of succession 574, 857 ff.Law of taxation 49, 400 ff.Law of the European Union 1, 32 f.Law on …” „… ff.Administrative courts law 414 ff.Administrative law 8, 77 ff., 232 ff.Administrative performance on a commission …” „… agreement 711Budget 218 f., 222, 401Budget act 218, 401Building regulations law 347Bundesrat 68, 194 …”

B. Public Law S. 34-113

„… Public LawHistory of Constitutional and Administrative LawAfter the Frankish Empire had been …” „… situations which are characterised by European Union law to citizens of the European Union's member states is …” „… . The European Commission coordinates the asylum law within the European Union. In particular, a basis …”

D. Private Law S. 151-254

„… European states, and in contrast to the Roman legal tradition, the law of marriage and the family is thus …” „… Private LawHistory and StructureHistoryThe history of German private law is intertwined with …” „… law in the laws of the various Germanic peoples. To an even greater extent than the other disciplines …”

C. Criminal Law S. 114-150

„… century. The history of German criminal law is a history of European criminal law. In situations which …” „… code is still applicable today in its 1998 version. The impact of European Union law on the criminal …” „… Criminal LawHistory and SystemHistoryAccounts of German criminal law generally take the time of the …”

Glossary S. 265-310

„… (BauNVO)Building Purposes ActBauordnungsrecht building regulations lawBauplanungsrecht zoning lawBaurecht …” „… corporation of American lawAktiva assets, often in the phrase Aktiva und Passiva, that is, assets and …” „… construction law)Außergewöhnliche Belastungenextraordinary expensesAussonderungsrecht a claim by the owner for …”

doi.org/10.5771/9783748935902

Peter Kindler, Jan Lieder - European Corporate Law

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Peter Kindler (Hrsg.), Jan Lieder (Hrsg.)

European Corporate Law

2021

Treffer in den folgenden Teilen:

Hanno Merkt Accounting and Auditing Law of the European Union S. 809-835

„… Accounting and Auditing Law of the European Union A. Introduction It is obvious that harmonised …” „… scope of those Directives, OJ L 317, 16/11/1990, p. 60. Accounting and Auditing Law of the European …” „… , OJ L 334, 21/11/2014, p. 86. Accounting and Auditing Law of the European Union 812 Hanno Merkt 6 A …”

Peter Kindler Introduction S. 1-65

„… Introduction Bibliography: Andenæs and Wooldridge, European Comparative Company Law (2009 …” „… ); Andenæs, European comparative company law (2009); Arenas Garçia, ’Rechnungslegungspflichten der …” „… ); Chiapetta and Tombari, ‘Perspectives on Group Corporate Governance and European Company Law’, 9 (2012), 261 …”

Tobias de Raet Article 87 General provisions S. 494-501

„… Commission, Modernising Company Law and Enhancing Corporate Governance in the European Union – A Plan to Move …” „… ), 1; Grohmann, The Information Model in European Company Law (2006); Grohmann and Gruschinske …” „… Verschmelzung von Kapitalgesellschaften’ (2006) GmbHR 191; Grundmann, European Company Law. Organization …”

Tobias de Raet Article 118 General provisions S. 576-594

„… and that national laws which prohibit such cross-border mergers are contrary to European law.87 The …” „… . 4 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012 …” „… /5613/), Annex 2 E, p. 120. 4 Cf. Grundmann, European Company Law. Organization, Finance and Capital …”

Titelei/Inhaltsverzeichnis

„… Laws by Schulze / Lehmann 2021 European Corporate Law Article-by-Article Commentary edited by Peter …” „… Kindler / Lieder European Corporate Law European Corporate Law Leinen mit Prägung, 160x240mm, P …” „… . 202, P. 533, P. 8643 International and European Business Law by Schulze / Lehmann Article-by-Article …”

Jan P. Brosius Foreword to Arts 44-85 S. 204-223

„… referred to do not necessarily have the same meaning in European law as they have in the laws of the …” „… a Directive of the European Parliament and of the Council relating to certain aspects of company law …” „… minimum capital in European law. I. Historical Background The Second Directive was based on Article 50 (1 …”

Dieter Leuering Preface S. 835-840

„… European Economic Community.3 After the first attempts to establish a common company law were doomed to …” „… fail, the idea of a “European” company law was believed to be buried for all time.4 Yet, the movement …” „… to create a European company law was revived in the late 1980’s: On June 8, 1988, the Commission …”

Karsten Kühnle Foreword to Arts 86a-86 t S. 390-398

„… , the so-called European Company Law Package came into force.2 Inter alia, it establishes for the first …” „… European Parliament and of the Council of 14 June 2017 relating to certain aspects of company law is herein …” „… , no. 5 (2019): 140-142.; European Company Law Experts (ECLE): The Commission’s 2018 Proposal on …”

Jan P. Brosius Article 44 General provisions S. 223-228

„… of companies within the European Union: the société anonyme/naamloze vennootschap under Belgian Law …” „… Level Group attested the concept of legal capital to be one of the cornerstones of European Company Law …” „… , the акционерно дружество under Bulgarian Law, the akciová společnost under the laws of the Czech …”

Jan Lieder, Martin Bialluch Article 2 Definitions S. 863-869

„… definitions, are subject to the autonomous interpretation of European Union law. In accordance with the …” „… With an example Schouten, Columbia Journal of European Law 16 (2009), p. 1, 6; cf. Zetzsche, NZG 2007 …” „… of the European Parliament and of the Council; (b) ‘shareholder’ means the natural or legal person …”

Karsten Kühnle Article 86 a Scope S. 398-403

„… place of business within the European Union, into limited liability companies governed by the law of …” „… the new framework had been raised by the European Parliament during the law making process.10 …” „… governed by other dedicated provisions of European law as lex specialis. III. Exclusion of Companies …”

Jan P. Brosius Article 45 Minimum capital S. 228-233

„… Level Group attested the concept of legal capital to be one of the cornerstones of European Company Law …” „… the amount of which shall be not less than EUR 25 000 . 2. Every five years the European Parliament …” „… Directive 77/91/EEC of 13 December 1976. 1 Report of the High Level Group of Company Law Experts on a Modern …”

Tobias de Raet Article 120 Further provisions concerning scope S. 598-603

„… cross-border Mergers and reorganizations (2012), § 1.16, p. 6; Grundmann, European Company Law. Organization …” „… Ugliano, ‘The New Cross-border Merger Directive: Harmonisation of European Company Law and Free Movement …” „… provisions and formalities of the national law to which it is subject. The laws of a Member State enabling …”

Klaus Bader, Andreas Börner Article 160 a Scope S. 731-744

„… with reference to the fact that the European provisions on company and accounting law only apply to …” „… European law, Member States may decide to extend the scope of application of the provisions of Chapter IV …” „… national laws have been respected.5 II. European Model for Structural Changes and Key Elements of …”

Klaus Bader, Andreas Börner Article 160 u Validity S. 807-809

„… Bader and Andreas Börner 4 5 Accounting and Auditing Law of the European Union A. Introduction It is …” „… creditors, and for the independent expert’s responsibility under administrative law provisions.2 Article 160 …” „… States’ powers, inter alia, in relation to criminal law, the prevention and combatting of terrorist …”

Peter Kindler Foreword to Arts 28a-42 S. 144-150

„… Withdrawal Agreement into domestic law after the United Kingdom formally left the European Union. 3. 16 …” „… interpretation in European company law: Case C-104/96, 16.12.1997, Coöperative Rabobank “Vecht en Plassengebied …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1. Goal of Arts 28a-42 Company Law Directive; exhaustive nature . . . . . . . . . 1 2. Legislative …”

Jan Lieder, Martin Bialluch Article 1 Subject matter and scope S. 857-863

„… Europe’ Columbia Journal of European Law 16 (2009), 1; Directive 2007/36/EC 856 Jan Lieder and Martin …” „… far as conflict of laws in the company law statue is concerned, the SRD implicitly acknowledges the …” „… /EC of the European Parliament and of the Council of 13.7.2009 on the coordination of laws …”

Jan P. Brosius Article 2 Scope S. 68-73

„… ventive conflict-of-law rules that secondary law of the European Union has come up with, can be …” „… Bulgarian Law, the akciová společnost under the laws of the Czech Republic, the aktieselskab under Danish …” „… društvo under the laws of Croatia, the società per azioni under Italian Law, the δημόσιες εταιρείες …”

Karsten Kühnle Article 86 t Validity S. 489-490

„… company’s members. Where no reliance is given by the expert, national law will be decisive for such …” „… . The first paragraph does not affect Member States’ powers, inter alia, in relation to criminal law …” „… , the prevention and combatting of terrorist financing, social law, taxation and law enforcement, to …”

Jan P. Brosius Article 50 Derogation from the requirement for an experts' report S. 251-258

„… Schäfer, Der Konzern 2007, 407, 408. 14 See also Van der Elst, European Company Law 6 (2009) 110, 111. 15 …” „… Proposal of the Commission of 29.10.2004, COM(2004) 730 final, p. 10. 16 Van der Elst, European Company Law …” „… European law (cf. → Intro Art 44 mn. 51) require to assess the meaning of fair value with a view to the …”

Tobias de Raet Article 134 Validity S. 686-688

„… and impartiality requirements under the law and professional standards to which the expert is subject …” „… I: Company Law Package’ (2019), BB, 1922 (1929); J. Schmidt, ‘Crossborder Mergers, Divisions and …” „… Conversions: Accomplishments and Deficits of the Company Law Package’ (2019), ECFR, 222 (246). Art 134 …”

Index S. 1029-1055

„… – relation to other provisions IV 19 3 Continental European regulatory policy Intro 19 Continental law …” „… – Action Plan on European Company Law and Corporate Governance 87 4 – adequate security 99 14 f …” „… ., 203 – involvement of employees Intro 49, 53 European company law Intro 22, 42, 135, 152, 154; II …”

Jan P. Brosius Article 56 General rules on distribution S. 271-277

„… the company’s legal capital plus any reserves which may not be distributed under European law, the …” „… supplementing their provisions (cf. Accounting and Auditing Law of the European Union, mn. 3 et seqq.). 5 …” „… 56.14 On the other hand, European Law offers choices for Member States leaving significant room for an …”

Tobias de Raet Article 122 Common draft terms of cross-border mergers S. 605-618

„… the domestic merger regime). The 1 Grundmann, European Company Law. Organization, Finance and Capital …” „… conflicts of law (cf. Article 121(1)(b)), there is a particular need to define a common European standard …” „… European Company Law (2006), 321; Lutter/Bayer/ Schmidt, Europäisches Kapitalmarkt- und Gesellschaftsrecht …”

Jan P. Brosius Article 85 Equal treatment of all shareholders who are in the same position S. 387-390

„… general principle of European Law.8 The principle stipulated in Article 85 imposes an obligation only on …” „… , the so-called European Company Law Package came into force.2 Inter alia, it establishes for the first …” „… “derogations from company law might also be required when the restructuring plan provides for the emission of …”

Jan P. Brosius Article 72 Increase in capital by consideration in cash S. 346-358

„… enshrine such principles in European Law.10 III. Purpose Article 72 and the pre-emptive right stipulated …” „… , later replaced by Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 …” „… Schmidtthoff, (1978) CMLR 43, 53. 5 Hurst, (1974) 2 Legal Issues of European Integration 63, 70 et seq.; see …”

Article 60 Acquisition of own shares Jan P. Brosius S. 286-297

„… given, the maximum length of which shall be determined by national law without, however, exceeding five …” „… law. These derogations are complemented by the more extensive derogations provided for in Article 61 …” „… provided for by the individual Member States were considerably different.6 The European legislature …”

Article 67 Subscription, acquisition or holding of shares by a company in which the public limited liability company holds a majority of the voting rights or on which it can exercise a dominant influe... S. 322-330

„… to be interpreted and defined in the light of European law aiming to establish a common understanding …” „… law of a third country and has a legal form comparable to those listed in Annex II. However, where the …” „… this option, its national law shall in any event provide that a dominant influence can be exercised if …”

Jan P. Brosius Article 84 Derogation from certain requirements S. 382-387

„… defined by national law, in the capital of undertakings. 2. Member States may decide not to apply the …” „… special law which issue both capital shares and workers’ shares, the latter being issued to the company’s …” „… European Parliament and of the Council(9). 4. Member States shall derogate from Article 58(1), Article 68 …”

Article 64 Financial assistance by a company for acquisition of its shares by a third party Jan P. Brosius S. 305-317

„… ” must not be interpreted according to national law but from a European perspective (cf. → Intro Art 44 …” „… ; Ferran, EBOR 6 (2006), 93, 97; see also Van der Elst, European Company Law 6 (2009) 110, 113. 57 Cf …” „… Edwards, EC-Company Law, p. 72; Lutter/Bayer/Schmidt, Europäisches Unternehmens- und Kapitalmarktrecht …”

Dieter Leuering Article 4 [General Meeting and Decisions] S. 848-850

„… documentation obligation are determined by national law due to the lack of harmonisation on a European level …” „… . Against the background of the divergent legal systems within the European Union and the dogmatic …” „… criticised that national law can now allow the exercise of the voting rights of the individual shareholder by …”

Jan P. Brosius Article 47 Issuing price of shares S. 235-239

„… Company Law and Enhancing Corporate Governance in the European Union – A Plan to Move Forward, COM(2003 …” „… issue of shares at a discount was partly modelled on existing case law in the United Kingdom.2 Also, as …” „… under Belgian and Luxembourgian Law.3 II. Material Scope No issue at a discount Article 47 provides …”

Jan Lieder, Martin Bialluch Article 4 Equal treatment of shareholders S. 895-896

„… law, OJ L 169, 30.6.2017, p. 46. 5 Directive 2004/109/EC of the European Parliament and of the Council …” „… generally compatible with the SRD.9 There is no principle of “one share one vote” under European law.10 …” „… Article 3 k Review 1. The Commission shall submit a report to the European Parliament and to the …”

Klaus Bader, Andreas Börner Article 160 d Draft terms of cross-border divisions S. 748-757

„… provision at the level of European law, the scope of the term “procedures and formalities” needs to be …” „… interpreted solely in accordance with European law (as opposed to the law of the Member State of either the …” „… Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 28.21, 668. 2 …”

Jan Lieder, Martin Bialluch Article 9 c Transparency and approval of related party transactions S. 943-959

„… . European law does not recognise this separation and has thus deliberately chosen the extensive umbrella …” „… principle of effectiveness of the European law as well as the general understanding underlying the European …” „… : “self-dealing is the central problem of corporate governance in most countries, the law’s effectiveness in …”

Tobias de Raet Article 133 Employee participation S. 680-686

„… national law. Article 133 Employee participation 1. Without prejudice to paragraph 2, the company resulting …” „… average number of employees equivalent to four fifths of the applicable threshold, as laid down in the law …” „… national law applicable to the company resulting from the cross-border merger does not: (a) provide for at …”

Jan Lieder, Martin Bialluch Article 15 Transposition S. 974-976

„… recognises a state liability claim based on European Union law.3 Under certain conditions, the …” „… /EC Art 15 Jan Lieder and Martin Bialluch 975 1 2 3 4 European Union law (effet utile)8 and the fact …” „… the EU primary law’s definition of a directive under Article 288(3) TFEU, according to which a …”

Alexander Schall, David Günther Foreword to Arts 7-12 S. 87-92

„… First Directive 68/151/EEC The European Commission passed the First Directive in the area of private law …” „… Directive in the whole of the area of private law established the EU lawmaking policy of an information …” „… Drury/Xuereb (eds), European Company Laws: a Comparative Approach (1991), 247-278; Kalss and Kampfl, margin no …”

Klaus Bader, Andreas Börner Article 160 k Employee information and consultation S. 784-786

„… not only to national works councils, but also to European works councils and SE works councils.2 …” „… Directive) – Directive 2009/38/EC (European Works Council Directive) While the applicability of each of …” „… available, more favourable provisions or practices in the law of the Member State of the company being …”

Alexander Schall, David Günther, Michael Lamsa Article 14 Documents and particulars to be disclosed by companies S. 125-129

„… been constantly, but not necessarily rightly, criticised for non-compliance with European law by German …” „… body constituted pursuant to law or as members of any such body: (i) are authorised to represent the …” „… with Council Directives 86/635/EEC(1) and 91/674/EEC(2) and Directive 2013/34/EU of the European …”

Tobias de Raet Article 125 Independent expert report S. 634-643

„… Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 28.21, p. 668 …” „… Stiegler (eds), Gesellschaftsrecht in Europa (2019), § 24.66, p. 1737. 16 Grundmann, European Company Law …” „… developed and used in the future.22 1. a) b) 20 Grundmann, European Company Law. Organization, Finance and …”

Alexander Schall, David Günther, Michael Lamsa Article 13 g Online formation of companies S. 116-121

„… corporate governance and the “Ninth Directive” on group law never matured. Over time, European company law …” „… Hulle/ Gesell (eds), European Corporate Law, 2006, pp. 3–24. 2 John Armour, ‘Who Should Make Corporate …” „… . 369–413; Deakin, ‘Regulatory Competition Versus Harmonisation in European Company Law’, in Esty/Geradin …”

Jan Lieder, Martin Bialluch Article 3 j Transparency of proxy advisors S. 891-895

„… the European Parliament and of the Council of 14.6.2017 relating to certain aspects of company law, OJ …” „… sources they use; 8 Directive 2009/65/EC of the European Parliament and of the Council of 13.7.2009 on the …” „… European Parliament and of the Council of 8.6.2011 on Alternative Investment Fund Managers and amending …”

Jan Lieder, Martin Bialluch Article 3 a Identification of shareholders S. 870-876

„… shareholders is regarded as a key prerequisite 1 Schouten, Columbia Journal of European Law 16 (2009), p. 1, 3 …” „… - und Kapitalmarktrecht (6th ed., 2018), mn. 29.24; Schouten, Columbia Journal of European Law 16 (2009 …” „… interpretations in the application of national law3 and solidification of a double-track approach to (stock …”

Jan Lieder, Martin Bialluch Article 6 Right to put items on the agenda of the general meeting and to table draft resolutions S. 902-907

„… result from general principles of European law. Minority rights as individual “or” collective rights The …” „… presumptions in view of general principles of European Union law according to which abusive practises are not …” „… justified in the light of general principles of European Union law according to which abusive practises are …”

Jan P. Brosius Article 75 Safeguards for creditors in case of reduction in the subscribed capital S. 362-365

„… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 13 Edwards, EC Company Law, p. 88. 14 Directive 2014/59/EU of the European Parliament and of the …” „… of the European Parliament and of the Council of 15 May 2014 establishing a framework for the …” „… and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and …”

Tobias de Raet Article 106 Civil liability of members of the administrative or management bodies of the company being acquired S. 557-559

„… share- 1. 1 Grohmann, The Information Model in European Company Law (2006), 329; Habersack and Verse …” „… Information Model in European Company Law (2006), 329; Lutter/Bayer/Schmidt, Europäisches Kapitalmarkt- und …” „… . 3 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012 …”

Tobias de Raet Article 91 Draft terms of merger S. 509-514

„… elements developed for domestic mergers served as a model for European company reorganisation law (i.e …” „… Grundmann, European Company Law. Organization, Finance and Capital Markets (2012), § 28.1, p. 668. See also …” „… companies having to enter into merger agreement.19 2. 3. 12 Grundmann, European Company Law. Organization …”

Tobias de Raet Article 127 Pre-merger certificate S. 658-665

„… determine whether the information is correct.14 7 Grundmann, European Company Law. Organization, Finance and …” „… ), Handbuch des EU-Wirtschaftsrechts (48th volume), E III, para. 198, p. 84. 9 Grundmann, European Company Law …” „… of the procedure which are governed by the law of the Member State of the merging company and to …”

Tobias de Raet Article 105 Consequences of a merger S. 553-557

„… ) commenting on Article 10, p. 30. 4 Grohmann, The Information Model in European Company Law (2006), 330 …” „… ; Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 28.39, p. 687 …” „… on Article 9, p. 29. 2 Grundmann, European Company Law. Organization, Finance and Capital Markets (2 …”

Jan P. Brosius Article 52 Substantial acquisitions after incorporation or authorisation to commence business S. 261-268

„… only authority to make a definite interpretation of European Law. VIII. General Principles on …” „… commence business 1. If, before the expiry of a time limit laid down by national law of at least two years …” „… . . . . . . . . . . . . . . . . . . . . 18 VIII. General Principles on Circumvention of the Law …”

Jan Lieder, Martin Bialluch Article 8 Participation in the general meeting by electronic means S. 910-914

„… participation does not seem to be ruled out.7 Nevertheless, the SRD is opening European company law to the …” „… Regulation (EU) 2016/679 of the European Parliament and of the Council of 27.4.2016 on the protection of …” „… membership (→ Art 1 mn. 1 et seq.). From a law & economics perspective, there is reason to believe that the …”

Jan Lieder, Martin Bialluch Article 3 d Non-discrimination, proportionality and transparency of costs S. 882-884

„… requirements implementing the provisions of Directive 2007/36/EC of the European Parliament and of the Council …” „… services owed under Member State law in transposition of Article 3c(1) and (2) SRD. The disclosure pursuant …” „… intermediary’s permission to additional charging under Member State law is not prohibited by the SRD.3 III …”

Jan P. Brosius Article 68 Decision by the general meeting on the increase of capital S. 330-339

„… application of European law6 and compromise the directive’s objective to protect shareholders.7 Therefore, the …” „… maximum amount which they shall fix with due regard for any maximum amount provided for by law. Where …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 VII. Abuse of Law …”

Dieter Leuering Article 2 [Legitimacy] S. 842-846

„… company law, Articles 16-43. 4 Directive (EU) 2017/1132 of the European Parliament and of the Council of …” „… provisions and sanctions until the harmonisation of group law at European level, provided that a natural …” „… member states.2 The Directive relating to certain aspects of company law on disclosure3, liability of the …”

Tobias de Raet Article 121 Conditions relating to cross-border mergers S. 603-605

„… Ugliano, ‘The New Cross-border Merger Directive: Harmonisation of European Company Law and Free Movement …” „… and with the principle of subsidiarity under European law (Article 5(1) Sentence 2 and Article 5(2 …” „… formalities of the national law to which it is subject. The laws of a Member State enabling its national …”

Alexander Schall, David Günther, Michael Lamsa Article 13 b Recognition of identification means for the purposes of online procedures S. 111-114

„… 910/2014 of the European Parliament and of the Council(1) (2) ‘electronic identification scheme’ means an …” „… ; (4) ‘formation’ means the whole process of establishing a company in accordance with national law …” „… compliance with national law and is used for the online formation of a company in accordance with Article 13 …”

Jan P. Brosius Article 49 Experts’ report on consideration other than in cash S. 245-251

„… .; Dorresteijn/Monteiro/C. Teichmann/Werlauff, European Corporate Law, 2009, 5.13 b, Drinkuth, Die Kapitalrichtlinie …” „… distributed under the law or the statutes and which are at least equal to the nominal value or, where there is …” „… Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of …”

Tobias de Raet Article 117 Mergers without all of the transferring companies ceasing to exist S. 575-576

„… translation of the term ‘cash payment’.7 Although provisions of European law are to be interpreted …” „… ); Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 28.15, p. 675 …” „… . Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 28.16, p. 676 …”

Jan Lieder, Martin Bialluch Article 3 k Review S. 895

„… law, OJ L 169, 30.6.2017, p. 46. 5 Directive 2004/109/EC of the European Parliament and of the Council …” „… Article 3 k Review 1. The Commission shall submit a report to the European Parliament and to the …” „… cooperation with ESMA, submit a report to the European Parliament and to the Council on the implementation of …”

Jan P. Brosius Article 3 Compulsory information to be provided in the statutes or instruments of incorporation S. 73-79

„… 2003 on the Statute for a European Cooperative Society (SCE), OJ No L 207, 18.8.2003, p. 2. 23 Mülbert …” „… Directive 2009/101/EC of the European Parliament and the council of 16 September 2009 on coordination of …” „… its last version Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 …”

Tobias de Raet Article 88 Rules governing mergers by acquisition and mergers by formation of a new company S. 501-505

„… organization Under European law, Member States may decide to also adopt the provisions of this Chapter for …” „… (77); Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), p …” „… ’ was supposed to be the mutual basis for all Member States. 11 European Commission, Study on the Law …”

Karsten Kühnle Article 86 l Employee participation S. 457-467

„… block”5 of certain major European legislative projects in the context of European company law and the …” „… fifths of the applicable threshold, as laid down in the law of the departure Member State, for triggering …” „… , or where the law of the destination Member State does not: (a) provide for at least the same level of …”

Jan P. Brosius Article 48 Paying up of shares issued for a consideration S. 239-245

„… question whether the Directive should be interpreted in the light of such provisions.33 European Law must …” „… , European Corporate Law, 2009, 5.13 b, Drinkuth, Die Kapitalrichtlinie – Mindest- oder Höchstnorm?, 1998, p …” „… . The European Parliament was of the opinion that there should be a fixed period of time in which …”

Article 65 Additional safeguards in case of related party transactions Jan P. Brosius S. 317-320

„… ” Article 65 refers to Article 22 of Directive 2013/34/EU3 (Accounting and Auditing Law of the European …” „… Legal Affairs of the European Parliament pointed out that such provision would be inconsistent with …” „… the company’s best interests. The relevant persons with regard to which the European legislature …”

Peter Kindler Article 42 Exemptions to provisions on disclosure of accounting documents for branches S. 202-204

„… a Directive of the European Parliament and of the Council relating to certain aspects of company law …” „… persons who are authorised to represent the company […] as a company organ constituted pursuant to law or …” „… that national law can determine that legal representatives shall carry out the disclosure formalities …”

Peter Kindler Article 1 Subject matter S. 65-68

„… conflict-of-law rules that secondary law of the European Union has come up with, can be discovered at a hidden …” „… DIRECTIVE (EU) 2017/1132 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 14 June 2017 relating to …” „… certain aspects of company law (codification) TITLE I GENERAL PROVISIONS AND THE ESTABLISHMENT AND …”

Silja Maul, Larissa Furtwengler Article 18 Committee procedure S. 1024-1025

„… down a frame of regulations that are to be implemented into national law by the Member States …” „… . Regarding sanctions of the infringement of regulations that were implemented in national law but deriving …” „… for obligations to be translated into national law, since it assures its enforcement through sanctions …”

Dieter Leuering Article 1 [Scope] S. 840-842

„… company law, Articles 16-43. 4 Directive (EU) 2017/1132 of the European Parliament and of the Council of …” „… that of the European Parliament, the Commission has withdrawn the proposal56. Still, it is to be hoped …” „… Directive The interpretation of the Directive is determined by the rules of European methodology:57 In …”

Jan P. Brosius Article 79 Reduction in the subscribed capital by compulsory withdrawal of shares S. 370-374

„… law, if a Member State allows companies to reduce their subscribed capital by compulsory withdrawal of …” „… principle of compulsory withdrawal of shares have a predecessor in German Law.2 The SLIM Initiative proposed …” „… . Brosius 371 1 2 III. Purpose The European legislature did not intend to obligate Member States to provide …”

Tobias de Raet Article 95 Detailed written report and information on a merger S. 524-528

„… . While this option was not introduced into European company law prior to 2009,28 national laws – for …” „… , whereas the concept of the average consumer under European contract law may serve as a role model for …” „… der Strukturmaßnahmen”‘ (2004) NZG, 15 (20). 8 Grundmann, European Company Law. Organization, Finance …”

Tobias de Raet Article 99 Protection of the interests of creditors of the merging companies S. 541-545

„… translation would be “nicht fällig”. Cf.: Grundmann, European Company Law. Organization, Finance and Capital …” „… internes’ (1981) CDE, 15 (21); Grundmann, European Company Law. Organization, Finance and Capital Markets …” „… . 123, 136 et seq. 11 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd …”

Jan Lieder, Martin Bialluch Article 17 Addressees S. 976-979

„… European Union law (effet utile)8 and the fact that Member States cannot rely on their own failure …” „… addressed to the Member States. The content of Article 17 follows the EU primary law’s definition of a …” „… to transpose the directive into national law. The Directive must therefore be regarded as directly …”

Jan P. Brosius Article 6 Multiple-member companies S. 85-87

„… the Directive as well as Articles 2 and 6 of Directive 2009/102/EC that European Law assumes that the …” „… company. In such case, national law must provide for the requirement of a court’s decision leading to the …” „… be ordered by decision of a court of law (cf. point (a)) or be ordered on limited enumerated grounds …”

Tobias de Raet Article 126 Approval by the general meeting S. 643-648

„… principles of European company law is that fundamental decisions must be taken by shareholders.3 As with …” „… ), 193; Ugliano, ‘The New Cross-border Merger Directive: Harmonisation of European Company Law and Free …” „… required only to the extent that the national law governing either the acquiring company or the company or …”

Tobias de Raet Article 124 Report of the administrative or management body for members and employees S. 625-634

„… , European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 29.10, p. 705 and …” „… ). 18 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012 …” „… themselves, as provided for under national law, the members shall be informed thereof and that opinion shall …”

Jan Lieder, Martin Bialluch Article 14 b Measures and penalties S. 973-974

„… European lawmaker is leaving the details of these sanctions to the discretion of the Member States.3 …” „… a matter of the applicable national law to define that.12 An EU-wide harmonisation of the …” „… Committee procedure 1. The Commission shall be assisted by the European Securities Committee established by …”

Klaus Bader, Andreas Börner Article 135 General provisions on division operations S. 688-690

„… particular, in the field of criminal law, terrorist financing, social law, taxation and law enforcement …” „… Functioning of the European Union (TFEU) provides freedom of establishment for companies in the European Union …” „… company law (Directive 2017/1132) in 2017 which has now been further amended by means of Directive (EU …”

Dieter Leuering Article 5 [Self-dealing] S. 850-852

„… company law1. Both in German and in France, the single-member company consisting of a single shareholder …” „… le code de commerce. 1 Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 …” „… June 2017 relating to certain aspects of company law, Art 9. 2 For France: Serlooten and Monsèrié-Bon …”

Peter Kindler Article 29 Disclosure of documents and particulars relating to a branch S. 159-163

„… (repealed by Art 166 Company Law Directive). 1. 2. 1 Directive 2019/1151/EU of the European Parliament and …” „… European electronic access point (Arts 16(1), 22 Company Law Directive; Regulation (EU) 2020/2244). By …” „… provision with regard to third countries. It is obvious that third countries cannot be obliged by EU law to …”

Karsten Kühnle Article 86 k Employee information and consultation S. 455-457

„… will not implement the concept of a solvency declaration for reasons of German law traditionally not …” „… the jurisdiction rules arising from Union or national law or from a contractual agreement.41 Compared …” „… Directives is that the employees and/or employee representatives (e.g., local works council, European works …”

Klaus Bader, Andreas Börner Article 160 m Pre-division certificate S. 790-796

„… scrutinizing the legality of the cross-border division. 3 → Art 118 mn. 52. 4 Grundmann, European Company Law …” „… Association by the Committee on Commercial Law on the Proposal for a Directive of the European Parliament and …” „… are governed by the law of the Member State of the company being divided, and to issue a pre-division …”

Alexander Schall, David Günther, Michael Lamsa Article 13 j Online filing of company documents and information S. 124-125

„… bodies mandated under national law to deal with any aspect of online procedures do not store personal …” „… law to deal with the online filing, subject to the provisions laid down in Article 13b(4) and, where …” „… bodies mandated under national law to deal with such forms of filing. Art 13 j further strengthens the …”

Jan P. Brosius Article 76 Derogation from safeguards for creditors in case of reduction in the subscribed capital S. 365-367

„… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 13 Edwards, EC Company Law, p. 88. 14 Directive 2014/59/EU of the European Parliament and of the …” „… argue that this provision was inspired by French law.13 Further, pursuant to Article 84 (3) Member …” „… mechanisms provided for in Title IV of Directive 2014/59/EU14 of the European Parliament and of the Council …”

Alexander Schall, David Günther, Michael Lamsa Article 13 Scope S. 110-111

„… the European Parliament and of the Council of 27 November 2019 amending Directive (EU) 2017/1132 as …” „… regards cross-border conversions, mergers and divisions – which also forms part of the Company Law Package …” „… 20181 – the Digitalisation Directive is one pillar of the Regulation (EU) 2018/1724 of the European …”

Article 61 Derogation from rules on acquisition of own shares Jan P. Brosius S. 297-301

„… European law.10 The provision also applies to a universal transfer of assets in the course of a merger, as …” „… subscribed capital plus any reserves the distribution of which is forbidden by law. 2. Shares acquired in the …” „… 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of safeguards …”

Jan P. Brosius Article 58 Serious loss of the subscribed capital S. 280-283

„… 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of safeguards …” „… European legislator intended to establish such a requirement. This, however, does not mean that Members …” „… – Mindest- oder Höchstnorm?, 1998, p. 192. 9 In Case T-732/16 Valencia Club de Fútbol v. the European …”

Jan P. Brosius Article 74 Reduction in the subscribed capital in case of several classes of shares S. 360-362

„… incorporated under a special law which issue both capital shares and workers' shares, the latter being issued …” „… mechanisms provided for in Title IV of Directive 2014/59/EU6 of the European Parliament and of the Council …” „… No L 26, 31.01.1977, p. 1, later replaced by Directive 2012/30/EU of the European Parliament and of …”

Dieter Leuering Article 3 [Disclosure] S. 846-848

„… conjunction with Art 16 of the Directive relating to certain aspects of company law3 by the disclosure …” „… 2009/101/EC of the European Parliament and of the Council on coordination of safeguards which, for the …” „… equivalent. 3 Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 relating …”

Jan P. Brosius Article 83 Voting requirements for the decisions of the general meeting S. 380-382

„… ) Member States may decide not to apply Article 82 to companies incorporated under a special law which …” „… , later replaced by Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 …” „… defined by national law, in the capital of undertakings. 2. Member States may decide not to apply the …”

Jan P. Brosius Article 81 Redemption of the subscribed capital or its reduction by withdrawal of shares in case of several classes of shares S. 376-378

„… attach the same rights to all 3 Directive (EU) 2019/1023 of the European Parliament and of the Council of …” „… 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of safeguards …” „… incorporated under a special law which issue both capital shares and workers’ shares, the latter being issued …”

Jan Lieder, Martin Bialluch Article 3 f Information on implementation S. 884-885

„… intermediaries provided by Chapter Ia as part of their substantive national law applicable to foreign entities …” „… shall, in close cooperation with ESMA and the European Supervisory Authority (European Banking Authority …” „… ), established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council, submit a report to …”

Tobias de Raet Article 123 Disclosure S. 618-625

„… Unternehmensrecht 2018/2019 – Teil I: Company Law Package, (2019), BB, 1922, (1928). 6 Grundmann, European Company …” „… ). 8 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012 …” „… ) b) 1 Regulation (EC) No. 2157/2001 of 8.10.2001 on the Statute for a European company (SE). 2 …”

Jan P. Brosius Article 80 Reduction in the subscribed capital by the withdrawal of shares acquired by the company itself or on its behalf S. 374-376

„… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 I. Overview Article 80 lays down the requirements to be transposed into national law which have …” „… own shares exists under national law. However, the withdrawal of own shares is a suitable and …” „… not to apply Article 80 to companies incorporated under a special law which issue both capital …”

Dieter Leuering Article 7 [Single-member enterprise with limited liability] S. 853-855

„… Lawyers on the draft law introducing the limited liability entrepreneur, July 2006 (BRAK-Stellungnahme-Nr …” „… . Article 7 of the Directive therefore states that national law, if it allows at least the one single-member …” „… . Article 7 of the Directive on single-member private limited liability companies is based on Portuguese law …”

Peter Kindler Article 31 Limits on the compulsory disclosure of accounting documents S. 174-176

„… following the coordination of national law in respect of the 1. (1) Directive 2006/43/EC of the European …” „… documents of the company as drawn up, audited and disclosed pursuant to the law of the Member State by which …” „… the company is governed in accordance with Directive 2006/43/EC of the European Parliament and of the …”

Article 63 Holding of own shares and annual report in case of acquisition of own shares Jan P. Brosius S. 302-305

„… Directive 2013/34/EU7 (cf. Accounting and Auditing Law of the European Union, mn. 3 et seqq.) leaves it to …” „… shares (cf. Accounting and Auditing Law of the European Union, mn. 27). V. Unlawfully Acquired Shares …” „… safeguards equivalent, OJ No L 26, 31.01.1977, p. 1, later replaced by Directive 2012/30/EU of the European …”

Tobias de Raet Article 92 Publication of the draft terms of merger S. 514-518

„… , The Information Model in European Company Law (2006), 321; Lutter/Bayer/Schmidt, Europäisches …” „… on the merger.2 This is, however, limited to 1 Grundmann, European Company Law. Organization, Finance …” „… ) AG, 381 (383). 3 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn …”

Tobias de Raet Article 119 Definitions S. 594-598

„… usually no framework – or only a very basic one – linking the company law of a Member State to the company …” „… law of a non-EU Member State on which such an extension can be based (e.g. the framework for domestic …” „… subject, under the national law governing it, to conditions concerning guarantees such as are provided for …”

Jan Lieder, Martin Bialluch Article 9 b Information to be provided in and right to vote on the remuneration report S. 931-943

„… laws already contain such liability provisions within general corporate or private law, there is no …” „… 2013/34/EU of the European Parliament and of the Council; (d) the number of shares and share options …” „… Regulation (EU) 2016/679 of the European Parliament and of the Council or personal data which refer to the …”

Tobias de Raet Article 103 Date on which a merger takes effect S. 551-552

„… European Company Law (2006), 325; Lutter/Bayer/ Schmidt, Europäisches Kapitalmarkt- und Gesellschaftsrecht …” „… (6th edn, 2017), § 20.90, p. 653. 8 See also: Grundmann, European Company Law. Organization, Finance …” „… authorities may be all natural or legal persons authorised by national law to draw up and certify deeds in due …”

Tobias de Raet Article 131 Consequences of a cross-border merger S. 672-677

„… (eds), Gesellschaftsrecht in Europa (2019), § 24.122, p. 1754. 10 Council of the European Union …” „… on the Statute for a European company (SE). 2 Regulation (EC) No. 1435/2003 of 22.7.2003 on the …” „… Statute for a European Cooperative Society (SCE). 3 Habersack and Verse, Europäisches Gesellschaftsrecht …”

Jan Lieder, Martin Bialluch Article 5 Information prior to the general meeting S. 896-902

„… implementing laws. Following the need for systematic unity and consistency of European secondary law, the …” „… generally compatible with the SRD.9 There is no principle of “one share one vote” under European law.10 …” „… applicability of European Directives in this context, see Foerster, EuR 2012, 190. 18 For a violation of EU law …”

Alexander Schall, David Günther, Michael Lamsa Article 16 Disclosure in the register S. 129-135

„… divergent to the law, have to be disclosed. All this information is of fundamental interest for the …” „… as required under national law for entry in the file. 2. Paragraph 1 shall not apply to the …” „… therein. Member States shall ensure that companies have a European unique identifier (‘EU- ID’), referred …”

Tobias de Raet Article 126 c Employee information and consultation S. 656-658

„… , – Directive 2001/23/EC (Transfers of Undertakings Directive)3, – Directive 2009/38/EC (European Works Council …” „… their concepts established based on the directives mentioned in Article 126 c. 1 European Parliament …” „… legislative resolution of 18.4.2019 on the proposal for a Directive of the European Parliament and of the …”

Jan P. Brosius Article 46 Assets S. 233-235

„… shares.3 In the view of the European Economic and Social Committee the proposed wording would have given …” „… undertaking to perform work or supply services was demanded by the European Parliament.6 II. Limitation to …” „… 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of safeguards …”

Jan P. Brosius Article 86 Transitional provisions S. 390

„… , the so-called European Company Law Package came into force.2 Inter alia, it establishes for the first …” „… after the ECJ’s Centros Decision – The Company Law Package …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 VII. European Model for Structural Changes …”

Tobias de Raet Article 116 Mergers with cash payment exceeding 10 % S. 574-575

„… payment’.7 Although provisions of European law are to be interpreted autonomously, national influences on …” „… ); Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 28.15, p. 675 …” „… . Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 28.16, p. 676 …”

Peter Kindler Article 43 Contact Committee S. 204

„… a Directive of the European Parliament and of the Council relating to certain aspects of company law …” „… and this Section. Art 43 was deleted by Directive (EU) 2019/1151 of the European Parliament and of the …” „… processes in company law. CHAPTER IV CAPITAL MAINTENANCE AND ALTERATION Foreword to Arts 44-85 I. Historical …”

Peter Kindler Article 30 a Changes to documents and information of the company S. 171-174

„… following the coordination of national law in respect of the 1. (1) Directive 2006/43/EC of the European …” „… was added by Directive (EU) 2019/1151 on the use of digital tools and processes in company law. It is …” „… under national law for entry in the file. II. The Contents and the Mechanisms of the Ex Officio …”

Klaus Bader, Andreas Börner Article 160 l Employee participation S. 786-790

„… making phase.4 II. Stronger Rights under Member State Law The 2019 Directive should be without prejudice …” „… employees equivalent to four fifths of the applicable threshold, as laid down in the law of the Member State …” „… point (k) of Article 2 of Directive 2001/86/EC, or where the national law applicable to each of the …”

Jan Lieder, Martin Bialluch Article 14 Voting results S. 971-973

„… applicable law, which shall not exceed 15 days after the general meeting, the company shall publish on its …” „… publication provided under national law may not exceed 15 days. A shorter period is at the legislative …” „… term “website”, → Art 5 mn. 2. III. Conflict Rule for National Law Governing Resolutions (Para. 3) The …”

Klaus Bader, Andreas Börner Article 160 r Consequences of a cross-border division S. 802-806

„… Transfer requirements or restrictions under the law of a third country applying from the conflict of laws …” „… the law of the Member State of the company being divided (Article 160 q sentence 1). The members of …” „… “liabilities” are to be interpreted uniformly throughout the European Union. The recipient company …”

Jan P. Brosius Article 70 Shares issued for consideration other than in cash S. 341-345

„… national law, in the capital of undertakings (→ Art 84 mn. 8 et seqq.). V. Minimum Provision Article 69 …” „… Company Law, p. 83, Schmitthoff, 15 CMLR (1978), 43, 47; Habersack/Verse, Europäisches Gesellschaftsrecht …” „… , Member States should therefore have the possibility of dispensing 1 See also Edwards, EC Company Law, p …”

Jan Lieder, Martin Bialluch Article 3 i Transparency of asset managers S. 889-891

„… . 114 (2015), 121, 153; European Company Law Experts, Shareholder engagement and identification (2015 …” „… , the Member States must prescribe an early renewal. Within the private law relationship between the …” „… . 375. 6 Directive 2009/138/EC of the European Parliament and of the Council of 25.11.2009 on the …”

Tobias de Raet Article 132 Simplified formalities S. 677-680

„… that the national law governing either the acquiring company or the company or companies being acquired …” „… by the company in accordance with national law. I. Upstream-Merger of a 100 % Subsidiary into its …” „… , ‘BB-Gesetzgebungs- und Rechtsprechungsreport zum Europäischen Unternehmensrecht 2018/2019 – Teil I: Company Law …”

Jan Lieder, Martin Bialluch Article 9 a Right to vote on the remuneration policy S. 919-931

„… European Union law. Member States must at least adopt this general clause as an open rule. They may …” „… align their interests with those of their directors’.7 Consequently, the European lawmaker expects an …” „… prospective and retrospective2 dichotomy of policy and report (→ Art 9 b SRD). Clearly, UK law has been the …”

Tobias de Raet Article 104 Publication formalities S. 552-553

„… . 1970/0091) commenting on Article 10, p. 30. 4 Grohmann, The Information Model in European Company Law (2006 …” „… ), 330; Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn, 2012 …” „… importance of such a date, it is unfortunate that the efforts to agree on a uniform European solution …”

Jan P. Brosius Article 54 Safeguards in the event of conversion S. 269-271

„… permitted by law to achieve a release from the obligation to pay up contributions. This principle has to be …” „… Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of …” „… application (cf. → Intro Art 44 mn. 64). 3 See also Le Fevre Rev soc. 1982, 441, 446; Wooldridge, Company Law …”

Alexander Schall, David Günther, Michael Lamsa Article 18 Availability of electronic copies of documents and particulars S. 136-137

„… Article 17 Up-to-date information on national law with regard to the rights of third parties 1 …” „… national law pursuant to which third parties may rely on information and each type of document referred to …” „… information required for publication on the European e-Justice portal (‘the portal’) in accordance with the …”

Karsten Kühnle Article 86 b Definitions S. 403-404

„… application of two national laws.1 The law of the departure Member State will be decisive for obtaining the …” „… in Annex II to the Company Law Directive, hence, an addressee of the new framework established by …” „… law; nor is there any interruption in its activities and legal relations.1 Or, in the words of Recital …”

Jan Lieder, Martin Bialluch Article 14 a Committee procedure S. 973

„… European lawmaker is leaving the details of these sanctions to the discretion of the Member States.3 …” „… a matter of the applicable national law to define that.12 An EU-wide harmonisation of the …” „… Committee procedure 1. The Commission shall be assisted by the European Securities Committee established by …”

Alexander Schall, David Günther, Michael Lamsa Article 17 Up-to-date information on national law with regard to the rights of third parties S. 136

„… Article 17 Up-to-date information on national law with regard to the rights of third parties 1 …” „… national law pursuant to which third parties may rely on information and each type of document referred to …” „… information required for publication on the European e-Justice portal (‘the portal’) in accordance with the …”

Karsten Kühnle Article 86 j Protection of creditors S. 445-455

„… IV. Governing Law The 2019 Directive requires Member States to ensure that the law of the …” „… application of the law of the departure Member State concerning the satisfaction or securing of pecuniary or …” „… taken effect, without prejudice to the jurisdiction rules arising from Union or national law or from a …”

Klaus Bader, Andreas Börner Article 160 c Procedures and formalities S. 746-748

„… “Procedures and Formalities” As Article 160 c contains a conflict of law provision at the level of European …” „… with European law (as opposed to the law of the Member State of either the company being divided or of …” „… according to the principles of the ECJ's case law.7 The draft does, however, provide for the obligation to …”

Alexander Schall, David Günther Article 12 Consequences of nullity S. 108-110

„… company must not operate a business in conflict with the law. It is not however sufficient that the …” „… members or organs or the “activity actually pursued by it [the company]”9 breach the law. If not …” „… information. Sublit iv causes nullity if the company does not comply with the national law requirements of the …”

Karsten Kühnle Article 86 i Protection of members S. 434-445

„… law of the departure Member State pursuant to Article 86 i (4).16 For all other grounds eligible to …” „… , the law of the departure Member State will be decisive. Article 86 i Protection of members 1. Member …” „… additional cash compensation before the competent authority or body mandated under national law. Member …”

Jan Lieder, Martin Bialluch Article 3 e Third-country intermediaries S. 884

„… intermediaries provided by Chapter Ia as part of their substantive national law applicable to foreign entities …” „… shall, in close cooperation with ESMA and the European Supervisory Authority (European Banking Authority …” „… ), established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council, submit a report to …”

Silja Maul, Larissa Furtwengler Article 3 General principles S. 985-988

„… regulation of bids. 1 Directive 2001/34/EC of the European Parliament and of the Council of 28 May 2001 on …” „… protected. The Court of Justice of the European Union found that there is no general principle to be …” „… deducted from Art 3 (1)(a) or Art 5 of the Directive or any other European Union equal treatment right that …”

Jan Lieder, Martin Bialluch Article 12 Voting by correspondence S. 967-968

„… subject to further formal hurdles under national law if these are necessary to ensure the identification …” „… . Such further formal requirements in Member State law – according to the exhaustive list of Article 11(2 …” „… 5 Directive 1999/93/EC of the European Parliament and of the Council of 13.12.1999 on a Community …”

Karsten Kühnle Article 86 m Pre-conversion certificate S. 467-478

„… which are governed by the law of the departure Member State and to issue a pre-conversion certificate …” „… ‐ conversion certificate where it is determined in compliance with national law that a cross-border conversion …” „… Union or national law, or for criminal purposes. 9. Where the competent authority, during the scrutiny …”

Klaus Bader, Andreas Börner Article 160 e Report of the administrative or management body for members and employees S. 757-763

„… applicable under European law26 - in principle free to adopt their own rules as to the legal consequences of …” „… German Bar Association by the Committee on Commercial Law on the Proposal for a Directive of the European …” „… such representatives, from the employees themselves, as provided for under national law, the members …”

Tobias de Raet Article 96 Examination of the draft terms of merger by experts S. 528-534

„… into European company law prior to 2009,28 national laws – for example in Germany29 – had earlier …” „… EU-Wirtschaftsrechts (48th Volume), E III, para. 158, p. 66; Grohmann, The Information Model in European Company Law …” „… (2006), 323. 15 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn …”

Jan Lieder, Martin Bialluch Article 16 Entry into force S. 976

„… European Union law (effet utile)8 and the fact that Member States cannot rely on their own failure …” „… addressed to the Member States. The content of Article 17 follows the EU primary law’s definition of a …” „… to transpose the directive into national law. The Directive must therefore be regarded as directly …”

Article 66 Acceptance of the company’s own shares as security Jan P. Brosius S. 320-322

„… Höchstnorm?, 1998, p. 216; Werlauff, EU- Company Law, p. 272. 10 Regulation (EU) No 575/2013 of the European …” „… the provision was inspired by German law.3 III. Purpose Article 66 provides for an “anti-avoidance …” „… Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of …”

Alexander Schall, David Günther, Michael Lamsa Article 16 a Access to disclosed information S. 135-136

„… information on national law with regard to the rights of third parties 1. Member States shall ensure that …” „… up-to-date information is made available explaining the provisions of national law pursuant to which third …” „… European e-Justice portal (‘the portal’) in accordance with the portal's rules and technical requirements …”

Jan Lieder, Martin Bialluch Article 3 g Engagement policy S. 885-887

„… shareholders in listed companies in the European Union.1 These types of shareholders play an important role in …” „… SRD II; comprehensively, with a specific view on German law, see Tröger, ZGR 2019, 126. Directive …” „… FCA’s Conduct of Business Rules,6 the SRD provides for Member States to enact a soft-law …”

Klaus Bader, Andreas Börner Article 160 b Definitions S. 744-746

„… Paper of the German Bar Association by the Committee on Commercial Law on the Proposal for a Directive …” „… of the European Parliament and of the Council amending Directive (EU) 2017/1132 as regards …” „… 119 mn. 7. 3 → Art 86 a mn. 2-4. 4 Council Directive (EU) 2017/1132 of the European Parliament and of …”

Jan Lieder, Martin Bialluch Article 11 Formalities for proxy holder appointment and notification S. 966-967

„… Member States’ law on proxy voting.1 This is achieved by addressing the use of electronic means of …” „… , the national law must give legal effect to both external and internal appointments of proxies.2 For a …” „… proxy voting shall only be subject to further formal hurdles under national law if these are necessary …”

Jan P. Brosius Article 51 Consideration other than in cash without an experts' report S. 258-261

„… Member States whether any exception is transformed into national law. Article 51 Consideration other than …” „… 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of safeguards …” „… et seqq. 2 Directive 2006/68/EC of the European Parliament and of the Council of 6 September 2006 …”

Silja Maul, Larissa Furtwengler Article 17 Sanctions S. 1023-1024

„… Directive lays down a frame of regulations that are to be implemented into national law by the Member States …” „… . Regarding sanctions of the infringement of regulations that were implemented in national law but deriving …” „… for obligations to be translated into national law, since it assures its enforcement through sanctions …”

Alexander Schall, David Günther, Michael Lamsa Article 26 Information on letters and order forms S. 142-143

„… European Parliament and of the Council as regards the interconnection of central, commercial and …” „… 16 para. 1), (ii) the European central platform (see Art 22 para. 1) and (iii) the European e-Justice …” „… portal (see Art 17 para. 2) together form the European system of interconnection of registers which also …”

Alexander Schall, David Günther, Michael Lamsa Foreword to Arts 13-28 Foreword to Arts 13-28 S. 110

„… the European Parliament and of the Council of 27 November 2019 amending Directive (EU) 2017/1132 as …” „… regards cross-border conversions, mergers and divisions – which also forms part of the Company Law Package …” „… 20181 – the Digitalisation Directive is one pillar of the Regulation (EU) 2018/1724 of the European …”

Silja Maul, Larissa Furtwengler Article 2 Definitions S. 983-985

„… company in accordance with national law; (b) ‘offeree company’ shall mean a company, the securities of …” „… or private law making a bid; (d) ‘persons acting in concert’ shall mean natural or legal persons who …” „… . Background Art 2 aims at assuring a uniform European interpretation of the relevant terms of the Directive …”

Jan P. Brosius Article 4 Compulsory information to be provided in the statutes or instruments of incorporation or separate documents S. 79-83

„… issued under national law; (d) the special conditions, if any, limiting the transfer of shares; (e) where …” „… bearer, where national law provides for both types, and any provisions relating to the conversion of such …” „… shares unless the procedure is laid down by law; (g) the amount of the subscribed capital paid up at the …”

Alexander Schall, David Günther, Michael Lamsa Article 15 Changes in documents and particulars S. 129

„… divergent to the law, have to be disclosed. All this information is of fundamental interest for the …” „… as required under national law for entry in the file. 2. Paragraph 1 shall not apply to the …” „… therein. Member States shall ensure that companies have a European unique identifier (‘EU- ID’), referred …”

Article 13 a Definitions S. 111

„… 910/2014 of the European Parliament and of the Council(1) (2) ‘electronic identification scheme’ means an …” „… ; (4) ‘formation’ means the whole process of establishing a company in accordance with national law …” „… compliance with national law and is used for the online formation of a company in accordance with Article 13 …”

Karsten Kühnle Article 86 n Transmission of the pre-conversion certificate S. 478-479

„… the area of justice across the European Union, Iceland, Liechtenstein and Norway. In accordance with …” „… Bock, GmbHR 2018, 281; Sattler, BB 2018, 2243. 2 Directive (EU) 2019/1151 of the European Parliament …” „… tools and processes in company law. See Lieder, NZG 2019, 1081 et seq.; Schurr, EuZW 2019, 772 et seq …”

Tobias de Raet Article 102 Drawing up and certification of documents in due legal form S. 549-551

„… European Company Law (2006), 325; Lutter/Bayer/ Schmidt, Europäisches Kapitalmarkt- und Gesellschaftsrecht …” „… (6th edn, 2017), § 20.90, p. 653. 8 See also: Grundmann, European Company Law. Organization, Finance …” „… , competent authorities may be all natural or legal persons authorised by national law to draw up and certify …”

Alexander Schall, David Günther Article 9 Acts of the organs of a company and its representation S. 97-106

„… starting point is the general competence of the MS to deal with abuse of law. The European regulator …” „… raises no doubts under European law. However, the doctrine of abuse of power of representation became …” „… Most commentators assume that this still in line with European law.26 The problem is however that the …”

Karsten Kühnle Article 86 e Report of the administrative or management body for members and employees S. 413-422

„… representatives, from the employees themselves, as provided for under national law, the members shall be informed …” „… Directive 2009/38/EC (concerning the establishment of a European Works Council) which remain unaffected. II …” „… Article 86 e (4) into German law, the German legislator should therefore take a restrictive approach.6 …”

Silja Maul, Larissa Furtwengler Article 5 Protection of minority shareholders, the mandatory bid and the equitable price S. 994-999

„… voting rights and the method of its calculation and refers insofar back to national law. Paragraph 4 …” „… shareholders and their equal treatment and in doing so also further the uniformity of the European capital …” „… Directive in 20021 upon the insistence of the European Parliament. Relation to other provisions Art 5 is by …”

Jan Lieder, Martin Bialluch Article 3 h Investment strategy of institutional investors and arrangements with asset managers S. 887-889

„… . 114 (2015), 121, 153; European Company Law Experts, Shareholder engagement and identification (2015 …” „… soft law character of this provision, it also follows from this recital that the addressed …” „… institutional investors may and should be enabled by Member State law to set their own criteria regarding which …”

Tobias de Raet Article 89 Definition of a ‘merger by acquisition’ S. 505-509

„… Gesellschaftsrecht (6th edn, 2017), § 20.23, p. 630. 17 Edwards, EC Company Law (1999), p. 98. 18 Grundmann, European …” „… ’, in: Schmitthoff (ed), The Harmonisation of European Company Law (1973), 66 (77). 3 Proposal of a …” „… Company Law. Organization, Finance and Capital Markets (2nd edn, 2012), § 28.16, p. 676. TITLE II …”

Tobias de Raet Article 126 a Protection of members S. 648-653

„… acquire shares in the company resulting from the merger which would be governed by the law of a Member …” „… the competent authority or body mandated under national law. Member States shall establish a time …” „… paragraph 2. 5. Member States shall ensure that the law of the Member State to which a merging company is …”

Silja Maul, Larissa Furtwengler Article 19 Contact committee S. 1025-1026

„… Directive the European Securities Committee established by Decision 2001/528/EC (hereinafter referred to as …” „… the Member States. The European Parliament opposed a broad application of the committee procedure …” „… (Art 18) Art 18 provides that the Commission shall be assisted by the European Securities Committee …”

Tobias de Raet Article 93 Approval by the general meeting of each of the merging companies S. 518-522

„… . Approval of the General Meeting One of the core principles of European company law is that fundamental …” „… Law (1999), p. 106; Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd …” „… Member States applied the same statutory law that applies to any other documents which have to be made …”

Jan Lieder, Martin Bialluch Article 9 Right to ask questions S. 914-919

„… under National Law The European legislator was aware, however, that the right to ask questions, which …” „… other hand, shareholders must be entitled by national law to put items on the agenda pursuant to → Art 6 …” „… . 29.105. 2 With reference to German law, see Jung and Stiegler in Jung, Krebs and Stiegler …”

Peter Kindler, Simon Jobst Article 28 a Online registration of branches S. 150-156

„… respect – i.e. for the items to be disclosed – the regime contained in Art 36 et seq Company Law Directive …” „… diverges in part from that contained in Art 29 et seq Company Law Directive. In this respect, Arts 37 and …” „… 38(1) Company Law Directive, unlike Art 30 et seq Company Law Directive, contain a series minimum …”

Jan Lieder, Martin Bialluch Article 3 c Facilitation of the exercise of shareholder rights S. 879-882

„… . The question of what is “necessary” must be answered autonomously under European law (→ Art 2 mn. 1).2 …” „… pass on information within the chain must be dispensed with by Member State law if the information can …” „… in a manner contrary to EU primary law. Intermediaries exercising shareholder rights (point (b)) In …”

Jan Lieder, Martin Bialluch Article 10 Proxy voting S. 959-966

„… interpreted autonomously under European Union law, and are therefore not left to the discretion of each …” „… . Liability under private law for damages towards the company can also be considered, especially if the …” „… not affect rules prescribed by the applicable law that prohibit the casting of votes differently in …”

Tobias de Raet Article 108 Conditions for nullity of a merger S. 560-564

„… Grohmann, The Information Model in European Company Law (2006), 329. 4 Cf. → Art 106. Art 108 Conditions …” „… nullity or 1. 2. a) b) 6 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd …” „… of the general meeting is void or voidable under national law; (c) nullification proceedings may not …”

Klaus Bader, Andreas Börner Article 138 Publication of the draft terms of division S. 697-700

„… been only partially harmonised for divisions.1 One of the core principles of European company law is …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 I. Purpose The draft terms are one of the key elements of the European model for structural …” „… shareholders may unanimously waive the publication because creditors are, under the German law transposition of …”

Karsten Kühnle Article 86 f Independent expert report S. 422-425

„… the implementation of Directive 2002/14/EC of the European Parliament and of the Council or Directive …” „… 2009/38/EC of the European Parliament and of the Council. Article 86 f Independent expert report 1. Member …” „… month before the date of the general meeting referred to in Article 86 h. Depending on the law of the …”

Peter Kindler Article 30 Documents and particulars to be disclosed S. 163-171

„… constitution (Art 3(b) of the Directive) is in line with European law since, inter alia, Article 30(2)(b) of …” „… ) 17 In favour of system as a criterion of interpretation in European company law: Case C-104/96 …” „… law or as members of any such organ, in accordance with the disclosure by the company as provided for …”

Silja Maul, Larissa Furtwengler Article 23 Addressees S. 1027-1029

„… shall communicate to the Commission the text of the main provisions of national law that they adopt in …” „… force on the 20th day after that of its publication in the Official Journal of the European Union …” „… number: Directive (EU) 2017/1132 relating to certain aspects of company law I: Accounting and Auditing …”

Klaus Bader, Andreas Börner Article 160 t Independent experts S. 806-807

„… the law and professional standards to which the expert is subject. With regard to the independence of …” „… corresponding 3. 1 Council Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on …” „… under administrative law provisions.2 Article 160 u Validity A cross-border division which has taken …”

Alexander Schall, David Günther, Michael Lamsa Article 22 System of interconnection of registers S. 139

„… System of interconnection of registers 1. A European central platform (‘the platform’) shall be …” „… States, — the platform, — the portal serving as the European electronic access point. 3. Member States …” „… in order to perform their administrative functions or to comply with provisions of Union law. The …”

Alexander Schall, David Günther, Michael Lamsa Article 28 Penalties S. 143-144

„… capital was omitted.1 Only a compromise intended to avoid a deception was incorporated in the law; if the …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1. Goal of Arts 28a-42 Company Law Directive; exhaustive nature . . . . . . . . . 1 2. Legislative …” „… . General Features Goal of Arts 28a-42 Company Law Directive; exhaustive nature The goal of Arts 28a-42 of …”

Tobias de Raet Article 127 a Transmission of the pre-merger certificate S. 665-666

„… European Company Law and Free Movement’ (2007) 18 EBLR, 585 (606); Habersack and Verse, Europäisches …” „… circumvention of national or EU law or (ii) for criminal purposes. This is in line with the case law of the ECJ …” „… Rechtsprechungsreport zum Europäischen Unternehmensrecht 2018/2019 – Teil I: Company Law Package’ (2019) BB, 1922 (1930 …”

Jan P. Brosius Article 73 Decision by the general meeting on reduction in the subscribed capital S. 358-360

„… , 31.01.1977, p. 1, later replaced by Directive 2012/30/EU of the European Parliament and of the Council of 25 …” „… (2) (companies incorporated under special law issuing both capital shares and workers’ shares) and …” „… 2010, 299, 313. 5 Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June …”

Silja Maul, Larissa Furtwengler Article 20 Revision S. 1026-1027

„… European Communities, Report of the implementation of the Directive on Takeover Bids SEC (2007) 268. Art …” „… text of the main provisions of national law that they adopt in the fields covered by this Directive …” „… publication in the Official Journal of the European Union. Article 23 Addressees This Directive is addressed …”

Alexander Schall, David Günther, Michael Lamsa Article 13 f Information requirements S. 115-116

„… respect to the online formation process. In contrast to the proposal of the European Commission for the …” „… law. TITLE I GENERAL PROVISIONS Art 13 f Alexander Schall, David Günther and Michael Lamsa 115 1 1 …” „… under national law to deal with any aspect of the online formation of companies, including drawing up …”

Alexander Schall, David Günther, Michael Lamsa Article 13 i Disqualified directors S. 123-124

„… another Member State for information relevant for the disqualification of directors under the law of the …” „… the period and grounds of disqualification. Such exchange shall be governed by national law. 5. The …” „… national law, in order to enable the authority or the person or body mandated under national law to assess …”

Alexander Schall, David Günther, Michael Lamsa Article 23 Development and operation of the platform S. 139-140

„… System of interconnection of registers 1. A European central platform (‘the platform’) shall be …” „… States, — the platform, — the portal serving as the European electronic access point. 3. Member States …” „… in order to perform their administrative functions or to comply with provisions of Union law. The …”

Alexander Schall, David Günther Article 11 Conditions for nullity of a company S. 106-108

„… Drury, ‘Nullity of Companies’ in Drury and Xuereb (eds), European Company Laws: a Comparative Approach …” „… does not unify the formation process. Art 10 only introduces in the respective Member State law a …” „… accordance with the following provisions: (a) nullity must be ordered by decision of a court of law; (b …”

Jan P. Brosius Article 78 Redemption of subscribed capital without reduction S. 368-370

„… minimum capital determined by the relevant national law and not the minimum amount of EUR 25.000,00 as …” „… may allow companies to reduce their capital below the minimum capital provided for in national law if …” „… law if a Member State authorises the total or partial redemption1 of the subscribed capital without …”

Peter Kindler Article 38 Limits of compulsory disclosure of accounting documents S. 193-196

„… insolvency law is determined by the domestic conflict-of-law rules of the Member State where the branch is …” „… law, such as the managing director’s assurance that there is no barrier to his personal appointment …” „… under national law.15 Article 38 Limits of compulsory disclosure of accounting documents 1. The …”

Alexander Schall, David Günther, Michael Lamsa Article 21 Language of disclosure and translation of documents and particulars to be disclosed S. 138-139

„… System of interconnection of registers 1. A European central platform (‘the platform’) shall be …” „… States, — the platform, — the portal serving as the European electronic access point. 3. Member States …” „… in order to perform their administrative functions or to comply with provisions of Union law. The …”

Alexander Schall, David Günther, Michael Lamsa Article 13 d Fees for online procedures S. 114-115

„… , designate any authority or person or body mandated under national law to deal with any aspect of online …” „… law, including those relating to legal procedures for the drawing up of instruments of constitution …” „… referred to in Articles 13 j and 28 b, is possible. 3. The requirements under applicable national law …”

Karsten Kühnle Article 86 g Disclosure S. 425-429

„… 22 b of Directive 2006/43/EC of the European Parliament and of the Council (Recital (14)). Hence, as …” „… such representatives, the employees 3. 9 Directive (EU) 2016/943 of the European Parliament and of the …” „… the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and …”

Jan P. Brosius Article 53 Shareholders' obligation to pay up contributions S. 268-269

„… , 31.01.1977, p. 1, later replaced by Directive 2012/30/EU of the European Parliament and of the Council of 25 …” „… of capital according to the provisions in Articles 73 et seqq. is the only way permitted by law to …” „… Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of …”

Peter Kindler, Simon Jobst Article 28 b Online filing of documents and information for branches S. 156-158

„… One Star’ the European Court of Justice will decide about this issue. Article 28 b Online filing of …” „… before any authority or person or body mandated under national law to deal with the online filing …” „… tools and processes in company law. The provision is essentially modelled on Article 13 j; for details …”

Peter Kindler Article 36 Disclosure of documents and particulars relating to a branch S. 183-186

„… concerned, see commentary on Art 26. Register of the branch and number Art 35 Company Law Directive mentions …” „… Member State by a company which is not governed by the law of a Member State but which is of a legal form …” „… comparable with the types of company listed in Annex II, shall be disclosed in accordance with the law of the …”

Jan P. Brosius Article 82 Conditions for redemption of shares S. 378-380

„… law if a Member State authorises companies to issue redeemable shares. There is a close connection to …” „… predecessor in UK law3 and there is an understanding, that the provision was widely modelled on existing …” „… national law. Frist, Article 82 requires that the redemption of shares has been authorised in the company’s …”

Klaus Bader, Andreas Börner Article 153 Conditions for nullity of a division S. 721-723

„… , or if it is shown that the decision of the general meeting is void or voidable under national law; (c …” „… associated with the (preceding) division, the European legislator considered it imperative to limit the …” „… shown that the decision of the general meeting is void or voidable under national law. In light of legal …”

Tobias de Raet Article 107 Civil liability of the experts responsible for drawing up the expert report on behalf of the company being acquired S. 559-560

„… ), § 20.115, p. 663. 11 Edwards, EC Company Law (1999), p. 114; Lutter/Bayer/Schmidt, Europäisches …” „… under national law; (c) nullification proceedings may not be initiated more than six months after the …” „… (Vol. 1970/0091) commenting on Article 17, p. 34. 3 Grohmann, The Information Model in European Company …”

Jan P. Brosius Article 55 Modification of the statutes or of the instrument of incorporation S. 271

„… the subscribed capital plus those reserves which may not be distributed under the law or the statutes …” „… accordance with the law or the statutes. 1 Second Council Directive 77/91/EEC of 13 December 1976 on the …” „… Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of …”

Karsten Kühnle Article 86 r Consequences of a cross-border conversion S. 485-487

„… Article 86 q Date on which the cross-border conversion takes effect The law of the destination …” „… , subject of law; nor is there any interruption in its activities and legal relations.3 IV. Certain …” „… case, renewal of the permit or license might be required under relevant national law and the law of the …”

Jan Lieder, Martin Bialluch Article 3 Further national measures S. 869-870

„… Riesenhuber, European Methodology (2017), § 14. Directive 2007/36/EC Art 3 Jan Lieder and Martin Bialluch …” „… interpretations in the application of national law3 and solidification of a double-track approach to (stock …” „… ) company law. Member States may also – within the scope of their competence – impose further obligations on …”

Jan P. Brosius Article 5 Authorisation for commencing business S. 83-85

„… Company Law, p. 57. 12 Also see the explicit wording “at least”. TITLE I GENERAL PROVISIONS Art 5 Jan P …” „… Directive 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of …” „… company. In such case, national law must provide for the requirement of a court’s decision leading to the …”

Klaus Bader, Andreas Börner Article 160 h Approval by the general meeting S. 769-773

„… compensation. II. Approval by the General Meeting One of the core principles of European company law is that …” „… threshold shall not be higher than that provided for in national law for the approval of cross-border …” „… . As a consequence of a cross-border division, members regularly face situations where the law …”

Jan P. Brosius Article 77 Reduction in the subscribed capital and the minimum capital S. 367-368

„… No L 26, 31.01.1977, p. 1, later replaced by Directive 2012/30/EU of the European Parliament and of …” „… . The reference point is the minimum capital determined by the relevant national law and not the minimum …” „… provided for in national law if they also provide that the decision to reduce the subscribed capital may …”

Silja Maul, Larissa Furtwengler Article 1 Scope S. 981-983

„… the European Union. Relation to other provisions Art 1 determines in which cases the provisions of the …” „… to be determined by the private international law regulations of the respective Member State …” „… Directive applies to bids which are made for securities of a company that is subject to the law of a Member …”

Klaus Bader, Andreas Börner Article 139 Approval by the general meeting of each company involved in a division S. 700-702

„… been only partially harmonised for divisions.1 One of the core principles of European company law is …” „… provide for higher approval thresholds. German law provides for a higher threshold with 75 % of the votes …” „… articles of association. If the law or the articles of association require an unanimous resolution or the …”

Alexander Schall, David Günther Article 7 General provisions and joint and several liability S. 92-96

„… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 IV. Underlying National Law …” „… higher level of dependency on the member state law made unified regulation more complicated.1 The …” „… the EU with 28 Member States. In the newly acceded Member States, the directive became law as part of …”

Silja Maul, Larissa Furtwengler Article 4 Supervisory authority and applicable law S. 988-994

„… of bids. Article 4 Supervisory authority and applicable law 1. Member States shall designate the …” „… , associations or private bodies recognised by national law or by public authorities expressly empowered for that …” „… purpose by national law. Member States shall inform the Commission of those designations, specifying any …”

Tobias de Raet Article 128 Scrutiny of the legality of the cross-border merger S. 666-669

„… European Company Law and Free Movement’ (2007) 18 EBLR, 585 (606); Habersack and Verse, Europäisches …” „… company created by the cross-border merger is subject to its national law. The said authority shall in …” „… draft terms of the cross-border merger approved by each merging company in accordance with national law …”

Tobias de Raet Article 100 Protection of the interests of debenture holders of the merging companies S. 545-546

„… ), § 20.126, p. 668. 28 Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn …” „… debenture holders individually. 2. 26 Edwards, EC Company Law (1999), p. 110. See also the discussion in A …” „… meeting of the debenture holders, if such a meeting is provided for under national laws, or by the …”

Klaus Bader, Andreas Börner Article 160 f Independent expert report S. 763-766

„… receives the opinion in good time “in accordance with national law”. If the opinion is not forwarded to the …” „… month before the date of the general meeting referred to in Article 160 h. Depending on the law of the …” „… requirements under the law and professional standards to which the expert is subject. II. The Independent …”

Silja Maul, Larissa Furtwengler Article 12 Optional arrangements S. 1014-1018

„… State, if they are held by law. With regards to rights of Member States that are derived from the …” „… shareholders, in accordance with the law of the Member State in which the company has its registered office in …” „… conditions determined by national law, exempt companies which apply Article 9(2) and (3) and/or Article 11 …”

Silja Maul, Larissa Furtwengler Article 22 Entry into force S. 1027

„… shall communicate to the Commission the text of the main provisions of national law that they adopt in …” „… force on the 20th day after that of its publication in the Official Journal of the European Union …” „… Article 21 Transposition 1. Member States shall bring into force the laws, regulations and …”

Silja Maul, Larissa Furtwengler Article 21 Transposition S. 1027

„… shall communicate to the Commission the text of the main provisions of national law that they adopt in …” „… force on the 20th day after that of its publication in the Official Journal of the European Union …” „… Article 21 Transposition 1. Member States shall bring into force the laws, regulations and …”

Jan P. Brosius Article 69 Paying up shares issued for consideration S. 339-341

„… on Article 1 Edwards, EC Company Law, p. 83, Habersack/Verse, Europäisches Gesellschaftsrecht § 6 …” „… 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of safeguards …” „… other groups of persons defined by national law, in the capital of undertakings (→ Art 84 mn. 8 et seqq …”

Jan Lieder, Martin Bialluch Article 7 Requirements for participation and voting in the general meeting S. 907-910

„… national law are prohibited. 1 Jung and Stiegler in Jung, Krebs and Stiegler, Gesellschaftsrecht in Europa …” „… status at the time of the general meeting. This remains a matter of national law of the Member States …” „… . This view is also in line with the general corporate law principle, according to which only those …”

Silja Maul, Larissa Furtwengler Article 11 Breakthrough S. 1010-1014

„… Community law for the companies referred to in Article 1(1), Member States shall ensure that the provisions …” „… law which are compatible with the Treaty or to cooperatives. I. General Features Overview Art 11 is …” „… and the opening of the European market.1 This was the reason why Member States could only agree on the …”

Klaus Bader, Andreas Börner Article 160 s Simplified formalities S. 806

„… the law and professional standards to which the expert is subject. With regard to the independence of …” „… corresponding 3. 1 Council Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on …”

Alexander Schall, David Günther, Michael Lamsa Article 13 e Payments S. 115

„… respect to the online formation process. In contrast to the proposal of the European Commission for the …” „… law. TITLE I GENERAL PROVISIONS Art 13 f Alexander Schall, David Günther and Michael Lamsa 115 1 1 …”

Karsten Kühnle Article 86 p Registration S. 483-485

„… Member State as legally binding unless a violation of Union and national law, respectively, is evident …” „… (46)). 1 Directive (EU) 2019/2121 of the European Parliament and of the Council of 27 November 2019 …” „… Karsten Kühnle 1 2 3 4 Article 86 q Date on which the cross-border conversion takes effect The law of the …”

Tobias de Raet Article 101 Protection of holders of securities, other than shares, to which special rights are attached S. 546-549

„… Verschmelzungsrechts’ (1981) DB, 1551 (1555); Grundmann, European Company Law. Organization, Finance and Capital …” „… , EC Company Law (1999), p. 110 et seq. 4 Riesenhuber, ‘Die Verschmelzungsrichtlinie: “Basisrechtsakt …” „… , be subject to the respective tort law, have a right to doctrines of frustration of contract. To avoid …”

Klaus Bader, Andreas Börner Article 160 j Protection of creditors S. 778-784

„… the jurisdiction of that Member State. The provision ensures that applicable law and competent …” „… body mandated under national law should also take into account the amount of any complementary cash …” „… shall be initiated before the competent authority or body mandated under the law of the Member State to …”

Silja Maul, Larissa Furtwengler Article 6 Information concerning bids S. 999-1003

„… not define the threshold between liquid and non-liquid, this will be a matter of national law; 2. in …” „… national law which will govern contracts concluded between the offeror and the holders of the offeree …” „… authority. Background Art 6 serves to assure a unitary European framework for the contents of an offer …”

Tobias de Raet Article 97 Availability of documents for inspection by shareholders S. 534-540

„… based on French law, expressly entitles the shareholders of the companies involved in the merger to …” „… and cheaper access to the information [...].” 4 Cf. Grohmann, The Information Model in European …” „… Company Law (2006), p. 326. 5 Proposal of a Third Council Directive COM(70) 633 final, 12.6.1970 (Vol …”

Article 59 No subscription of own shares S. 283-286

„… meeting despite a serious loss of the subscribed capital. National law therefore governs the question …” „… 2012/30/EU of the European Parliament and of the Council of 25 October 2012 on coordination of safeguards …” „… given, the maximum length of which shall be determined by national law without, however, exceeding five …”

Klaus Bader, Andreas Börner Article 146 Protection of the interests of creditors of companies involved in a division; joint and several liability of the recipient companies S. 711-714

„… In Dutch law, the rights of employees are protected by Article 7:662 and onwards of the Dutch Civil …” „… paragraph 7. The European legislator thereby effectively applies different standards of protection to the …” „… 1 and 2 of the German Transformation Act. Moreover, German law goes beyond the minimum standard of …”

Tobias de Raet Article 115 Transfer of all assets and liabilities by one or more companies to another company which is the holder of 90 % or more of their shares S. 573-574

„… that this subparagraph was added to a draft of the European Parliament9 only after concerns had been …” „… ) commenting on Article 21, p. 39; recital no. 53 of the Directive 2017/1132/EU; Edwards, EC Company Law (1999 …” „… first subparagraph of Article 114 where the laws of that Member State authorise the acquiring company to …”

Karsten Kühnle Article 86 d Draft terms of cross-border conversions S. 404-413

„… application of two national laws.1 The law of the departure Member State will be decisive for obtaining the …” „… Article 86 c Procedures and formalities In compliance with Union law, the law of the departure …” „… with the cross‐border conversion in order to obtain the pre-conversion certificate, and the law of the …”

Klaus Bader, Andreas Börner Article 157 Divisions under the supervision of a judicial authority S. 727-729

„… the European parliament and of the Council of 14 June 2017 relating to certain aspects of company law …” „… shareholders of the recipient company is exceptionally dispensable under the national laws of the respective …” „… 135, the laws of a Member State permit the cash payment to exceed 10 %, Sections 2, 3 and 4 of this …”

Klaus Bader, Andreas Börner Article 141 Detailed written report and information on a division S. 703-705

„… ) sentences 2 and 3 of the German Transformation Act is in conformity with the law due to the minimum standard …” „… represents another important building block of the “European model for structural changes” and is geared …” „… written report to the shareholders. However, the laws of a Member State may provide for the appointment of …”

Klaus Bader, Andreas Börner Article 156 Application of rules on divisions by acquisition S. 725-727

„… Kapitalmarkt- und Gesellschaftsrecht (6th edn, 2017), § 21, p. 720. 8 Directive (EU) 2017/1132 of the European …” „… parliament and of the Council of 14 June 2017 relating to certain aspects of company law. 9 Jung, Krebs and …”

Tobias de Raet Article 110 Transfer of all assets and liabilities by one or more companies to another company which is the holder of all their shares S. 566-568

„… ), § 20.143, p. 677. 2 Cf. Grundmann, European Company Law. Organization, Finance and Capital Markets (2nd edn …” „… their shares Member States shall make provision, in respect of companies governed by their laws, for the …”

Klaus Bader, Andreas Börner Article 137 Draft terms of division S. 693-697

„… companies and are based on the “European model for structural changes” already established by the Merger …” „… transposed Article 137(3) without changes9 However, given that Italian law also provides for spin-offs and …” „… and third parties requires that the laws of the Member States relating to divisions of public limited …”

Tobias de Raet Article 130 Registration S. 670-672

„… with Article 22(2) on the register interconnection system,6 i.e. the European central platform.7 The …” „… (404). 5 Article 2 Point 1 of Directive 2012/17/EU of the European Parliament and of the Council of …” „… 13.6.2012 amending Council Directive 89/666/EEC and Directives 2005/56/EC and 2009/101/EC of the European …”

Jan P. Brosius Article 57 Recovery of distributions unlawfully made S. 277-280

„… European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities …” „… the European Parliament and of the council of 4 November 2003 on the prospectus to be published when …” „… 2004/109/EC of the European Parliament and of the council of 15 December 2004 on the harmonisation of …”

Silja Maul, Larissa Furtwengler Introduction S. 979-981

„… concern companies subject to the laws of a Member State of the European Union. I. Core of the Directive …” „… Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover …” „… should also facilitate the acquisition of European companies by investors from third countries (like the …”

Article 62 Consequences of illegal acquisition of own shares Jan P. Brosius S. 301-302

„… disposed of. The European legislature did not opt for the legal consequence of nullity of a transaction …” „… of the European Parliament and of the Council of 25 October 2012 on coordination of safeguards which …” „… the laws of a Member State permit a company to acquire its own shares, either itself or through a …”

Klaus Bader, Andreas Börner Article 142 Examination of the draft terms of division by experts S. 705-707

„… represents another important building block of the “European model for structural changes” and is geared …” „… division was imposed by the European legislator. The Directive does furthermore not require an examination …” „… terms of division and draw up a written report to the shareholders. However, the laws of a Member State …”

Tobias de Raet Article 113 Merger by acquisition by a company which holds 90 % or more of the shares of a company being acquired S. 570-572

„… require Member States to adopt Article 112 into their national laws,4 but the European Parliament …” „… was, however, apparently not the intention of the European legislator.5 2 Cf. in the proposal for …” „… that purpose. A Member State need not apply the first paragraph if the laws of that Member State …”

Tobias de Raet Article 114 Exemption from requirements applicable to mergers by acquisition S. 572-573

„… supported by the fact that this subparagraph was added to a draft of the European Parliament9 only after …” „… laws of that Member State entitle the acquiring company, without a previous public takeover offer, to …” „… apply the first subparagraph of Article 114 where the laws of that Member State authorise the acquiring …”

Tobias de Raet Article 112 Shares held by or on behalf of the acquiring company S. 569-570

„… their national laws,4 but the European Parliament eventually urged the Commission to keep the article …”

Klaus Bader, Andreas Börner Article 143 Availability of documents for inspection by shareholders S. 707-709

„… of the “European model for structural changes” and central element of shareholder protection, every …” „… . However, the laws of a Member State may provide that: (a) it shall not be necessary to take a fresh …”

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European Company Case Law (ECCL)

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ECCL Jahrgang 1 (2023) Heft 2 ISSN Online: 2752-1788

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Titelei/Inhaltsverzeichnis S. 131-134

„… VicariSubmission managerIngo TheusingerImpressumEuropean Company Case Law (ECCL)ISSN 2752-177XEditors in Chief:Prof …” „… LawECCLECCL.nomos.de2 | 2023Vol. 1 (2023) | Issue 2pp. 132–231Cover_ECCL_2.2023.indd 1-3 30.08.2023 14:42:04 …” „… ECCLEuropean Company Case LawEditorial BoardJelena AgranovskaDeirdre AhernJan AnderssonLucian BerceaVirginijus …”

Dario Latella Internal controls and corporate governance in financial firms and non-financial firms: what about the new EU rules? S. 175-188

„… Professor, University ofOxford, Faculty of Law, Institute of European and Comparative Law.1 Jensen, Michael …” „… , Federico/Ventoruzzo, Marco (eds), Research Handbook in European Economic Law, Universityof Cambridge Faculty of Law …” „… ). European Corporate GovernanceInstitute - Law Working Paper No. 691/2023, Amsterdam Law School Research …”

Hans De Wulf The failed derivative action by ClientEarth against Shell’s directors: minority shareholders should not try to determine a corporation’s climate change strategy through the courts. S. 189-204

„… law”derivative actions are still possible under British law, but these need not detain us here.25C. The criteria …” „… duty to complywith the Dutch “Shell climate judgement” 199G. The wider context: European …” „… Shell have over the past few yearsgreatly contributed to the development of the law about responsibility …”

Gregor Dugar Directors’ liability to creditors under insolvency law: A Slovenian perspective S. 163-174

„… Liability Companies in Slovenia, Central European Journal of Comparative Law,1/2020, p. 51, (63).7 Dugar (fn …” „… Insolvency Law Reform, European Business Law Review, 5/2021, 935, (961).ECCL 2/2023 167liability for damages …” „… Director in the Vicinityof Insolvency: The Lithuanian Approach, European Business Organization Law Review …”

Mária Patakyová, Barbora Grambličková Individual litigation failure translated into jurisprudential success. S. 223-231

„… EuropeanParliament and of the Council of 14 June 2017 relating to certain aspects of company law(codification …” „… of private law regulation: “The parties to civil lawrelationships may regulate their mutual rights …” „… alternate members of the bodies are defined in foreign law,usually for public companies, which include …”

Hana Horak, Lucia Ana Tomić Directors, information, remuneration and risk managemen S. 149-162

„… , Richard W., Towards a European Modified Business Judgment Rule forTakeover Law, European Business …” „… into Croatian legislation in Croatian &European Company Law, Zagreb 2015, 120-133.8 Lubben, Stephen, J …” „… riskmanagement.21Recent European law practice opened director’s responsibilities for ESG matters. In …”

Jan Andersson Directors’ duties and harmonization. The case of information, oversight liability and BJR S. 135-148

„… ’ laws which would apply to a public limited-liabili‐ty company formed in accordance with the law of the …” „… duty to perform one or more of theboard’s functions that are delegable under applicable law.(iv) In …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143A. IntroductionIn this article I will briefly discuss directors’ duties from a European perspective …”

Francesco Delfini Derivative contracts, anticipatory reliance and remedies in English and Italian law of restitution. S. 205-214

„… transactions, for Venice’s lackof legal capacity of contracting under Italian lawThe derivative contracts (IRS …” „… determined by the Italian Law.Indeed, it is worth noting that the requisite of legal capacity of contracting …” „… contract; a lawful cause or considera‐tion».ECCL 2/2023 207law: Credit Suisse International v Stichting …”

Lisa Marleen Guntermann, Robert Lamersdorf No registration of a profit and loss transfer agreement in the commercial register of the parent company. S. 215-222

„… ).52. German commercial register lawThe German commercial register’s main function is the publication …” „… corporate group law,however, only applies to the extent the German party of the inter-company agreementis …” „… corporate subsidiary the statuto‐ry and case law regarding the necessity to register such agreements in its …”

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