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Working document prepared by the Commission's services for use in the discussions of the Legal Committee of the European Parliament on the proposal for a fifth directive on company law. III/11/78

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III/11//78/EN WORKING DOCUMENT PREPARED BY THE COMMISSION’S SERVICES FOR USE IN THE DISCUSSIONS OF THE LEGAL COMMITTEE OF THE EUROPEAN PARLIAMENT ON THE PROPOSAL FOR A FIFTH DIRECTIVE ON “COMPANY LAW” ' . II I/11178-EN I. (1) The purpose of this document is to facilitate the deliberations of the Legal Committee on the provisions of the directive under consideration relating to the s~ructure of public companies and e~ployee participa- tion. The original propbsal for a directive was divided into five chapters : Chapter I Structure of the Company, (Article 2) Chapter II The Management Organ and the Supefvisory Organ (Articles 3 to 21) Chapter III General Meeting (Articles 22 to 47) 'chapter IV The Adoption and Audit of the Annual Accounts (Articles 48 to 63) Chapter v General Provisions CAriicles 64 and 65) (2) Until now, the Legal Committee of the European Parliament has Limited itself to a discussion of two aspects of Chapters I and II of the Legislation envisaged, namely, company structure and employee particip- ation. This discussion took place on the basis of the "green paper 11 published by the Commission of the Europ,ean Comll)unities in 1975. (3) To bring the conclusions of the discussions .on the "green paper" into consideration, the Legal Committee has expressed its intention of turning to the formulas of the proposal for a fifth directive with a view to preparing Parliament's Opinion. To this end, the Commission's services have prepared a new draft of Chapters I and II and have added a new Chapter II A. These drafting suggestions are limited to the changes strictly necessary by reason of their relationship to the problems treated in the "green paper", and do not prejudice in any way· the consideration of other problems in the proposed directive which have not as yet been discussed in the LegaL Committee. II. (1) For this reason, the annexed text has Left completely unchanged Chapte

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