The Council of the European Union adopted necessary temporary measures concerning the general meetings of European companies (SEs) and of European Cooperative Societies (SCEs) 

May 28, 2020 Madalina Hristescu

On 28th May 2020, the Council Regulation (EU) 2020/699 on temporary measures concerning the general meetings of European companies (SEs) and of European Cooperative Societies (SCEs) entered into force. In view of the fact that the six month period referred to Regulations (EC) No 2157/2001 and (EC) No 1435/2003 will expire in May or June 2020, the Council considered this Regulation a matter of urgency.  

Hence, it provided the following temporary measures to help the European companies and European Cooperative Societies to better and easier continue their activities during the crisis period:  

  • If a general meeting of a European company must be held in 2020, pursuant to Article 54 (1) of Regulation (EC) No 2157/2001, the European company may hold the meeting, by exception, within 12 months of the end of the financial year, provided that the meeting is held by 31 December 2020.
  • If a general meeting of a European Cooperative Society must be held in 2020, pursuant to Article 54 (1) of Regulation (EC) No 1435/2003, the European Cooperative Society may hold the meeting, by exception, within 12 months of the end of the financial year, provided that the meeting is held by 31 December 2020.

In accordance with the upper-indicated provisions representing general rules, a European company, respectively a European Cooperative Society, shall, with some exceptions, hold a general meeting at least once each calendar year, within six months of the end of its financial year.  

Other articles

A member of

 

Copyright © 2020 thesigtreeteam. All Rights Reserved.

Let's chat!

Say hello!