The adoption procedure for a draft EU Council Regulation to temporarily extend the time limit for holding general meetings of ‘European Companies’ (SEs) and 'European Cooperative Societies' (SCEs) during the Covid-19 pandemic (see EUROPE 12478/7) was started this week.
On Friday 8 May, the Member States' ambassadors to the EU (Coreper) agreed that the Council of the EU should adopt the decision to seek the European Parliament's consent by written procedure.
Delegations were consulted on the European Commission proposal on 29 April and had until 4 May to comment on the text. No comments were received either on the proposal or on the use of the written procedure.
An EU source confirmed that the final text for which the Council of the EU is seeking the approval of the European Parliament's does therefore not include any substantial changes to the Commission’s proposal. It should be noted that the document allows SEs and SCEs to hold their general meetings within 12 months of the end of their financial year instead of six months, but no later than 31 December 2020.
Once the European Parliament has given its assent to the text - which is expected to take place at the plenary session on Wednesday 13 May - the Council of the EU will be able to adopt the text.
The same source said that a date has not yet been set for adoption of the regulation, which will be unanimous. This is an urgent procedure, as the six-month period mentioned in European regulations will expire in May or June 2020.
To read the EU Council document, go to: https://bit.ly/3ceKRER (Original version in French by Marion Fontana)