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The Second Directive

Vanessa Edwards

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Abstract

Abstract The second company law directive deals with the formation of public limited companies and the maintenance and alteration of their capital. In tenor and approach it differs from the First Directive: many of the provisions lay down detailed procedural requirements rather than simply directing the Member States to legislate to a certain end, and it has been criticized by some commentators for that reason. In terms of its substance however the Second Directive is undeniably of major importance, constituting a significant step towards company law harmonization in the European Community, and it has been welcomed by others as a heartening illustration of harmonization at its best.

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Abstract The second company law directive deals with the formation of public limited companies and the maintenance and alteration of their capital. In tenor and approach it differs from the First Directive: many of the provisions lay down detailed procedural requirements rather than simply directing the Member States to legislate to a certain end, and it has been criticized by some commentators for that reason. In terms of its substance however the Second Directive is undeniably of major importance, constituting a significant step towards company law harmonization in the European Community, and it has been welcomed by others as a heartening illustration of harmonization at its best.

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Available abstract

Abstract The second company law directive deals with the formation of public limited companies and the maintenance and alteration of their capital. In tenor and approach it differs from the First Directive: many of the provisions lay down detailed procedural requirements rather than simply directing the Member States to legislate to a certain end, and it has been criticized by some commentators for that reason. In terms of its substance however the Second Directive is undeniably of major importance, constituting a significant step towards company law harmonization in the European Community, and it has been welcomed by others as a heartening illustration of harmonization at its best.

Key concepts: Directive, Harmonization, Member states, Political science, Law, Directive on Privacy and Electronic Communications, Business, Capital (architecture)

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