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European Company Statute
Practical Law UK Glossary 5-505-6367 (Approx. 3 pages)
Glossary
European Company Statute
A statute which provides for the creation of European Companies (Societas Europaea or SEs) and is established by two pieces of legislation:
- Council Regulation (EC) No 2157/2001 on the Statute for a European Company (SE Regulation), which came into force on 8 October 2004. The SE Regulation is directly applicable in member states of the European Economic Area and sets out the framework for the structure and formation of an SE.
- Council Directive 2001/86/EC supplementing the Statute for a European Company with regard to the involvement of employees (SE Directive). The SE Directive had to be implemented in the national law of member states by 8 October 2004 and provides for worker involvement in the management of an SE.
For an overview of SEs, including the key features, methods of formation, provisions regarding the involvement of employees and the management structure of an SE, see Practice note, European Companies (Societas Europaea).