Europe: Council endorses proposal for the European Private Company

The European Council, at its competitiveness meeting earlier this month, endorsed the Commission's proposals for the Small Business Act. Amongst the proposals put forward is one for a new corporate form - the European Private Company - and in this regard the Council observed that it would:

"take all possible measures to bring about as soon as possible the adoption of the thoroughly prepared European Private Company (EPC) statute with a view to facilitating the everyday management of small businesses, conferring a European label on them, cutting the cost of setting up subsidiaries and reducing the need for them to deal with national legislations when seeking to establish themselves in more than one Member State".

The Council's adopted conclusions are available here.