Brussels, 05/11/2009 (Agence Europe) - On Thursday 5 November, the European Commission launched a public consultation on possible ways to enhance co-operation between business registers. The objective of the consultation is to improve access to business information and to increase legal certainty surrounding cross-border operations in the EU, which the Commission considers to be missing links in the internal market. Responses to this consultation will be taken into account in assessing the need for legislative or non-legislative initiatives in this area. The deadline for responses is 31 January 2010.
The consultation is based on the European Commission's progress report and a green paper on the interconnection of business registers. While the progress report describes the current legal and factual situation of the access to information and co-operation between business registers, the green paper considers possible ways forward and asks, for example, whether an improved network of the business registers of the member states is seen to be necessary.
Throughout Europe, business registers offer a range of services, which may vary from one country to another. The core services provided by all registers, however, are to examine and store company information, such as information on the company's legal form, its head off ice and its legal representatives, and to make this information available to the public.
Several directives aim to facilitate access to official information on companies (company law directive, cross-border mergers directive and directive on branch disclosure). Nevertheless, the Commission explains that co-operation between business registers remains voluntary and does not seem to be sufficient to achieve certainty in all cross-border legal procedures and to increase transparency in the single market.
Moreover, in the current financial crisis, Internal Market and Services Commissioner Charlie McCreevy stated that “improving access to up-to-date and official information on companies for creditors, business partners and consumers could serve a means to restore confidence in the markets”. The commissioner also said that “business registers play an important role in ensuring transparency and legal certainty in Europe”. For further information: (http: //ec.europa.eu/internal_market/company/business_registers/index_en.htm). (O.L./transl.rh)