Brussels, 16/10/2008 (Agence Europe) - On Thursday 16 October, the European Commission decided to pursue a number of infringement procedures on company law, corporate governance, recognition of professional qualifications and re-insurance.
Thus the Commission has moved up a gear on procedures begun against 12 member states for failure to transpose into national law a number of directives on company law and corporate governance. It will refer Belgium, Greece, Spain, France, Portugal and Sweden to the Court over non-implementation of the Cross-Border Mergers Directive. A reasoned opinion will be sent to Luxembourg for the same reason. The Commission will also send reasoned opinions to Belgium, Spain, Luxembourg, Portugal and Romania regarding the directive simplifying the formation, maintenance and alteration of companies' capital, and to the Czech Republic, Hungary, the Netherlands and Poland regarding a directive on transparency obligations of listed companies.
Infringement procedures will also be launched against 10 member states for failure to implement certain internal market directives into national law. The Commission will refer Germany, Hungary, Luxembourg, Poland, Sweden and the United Kingdom to the Court over non-implementation of a directive on recognition of professional qualifications (2005/36/EC). It will also refer Belgium, the Czech Republic, Greece, Poland and Portugal to the Court over non-implementation of a directive on re-insurance (2005/68/EC).
The Commission has decided to close an infringement procedure against Italy concerning restrictions on the free movement of capital and on the freedom of establishment, following reforms in the Italian motorway sector. (O.L./transl.rt)