Financiarul

Romanian European MP Sabin Cutas (Conservative Party, PC) urged the European Parliament (EP) plenary to adopt an autonomous Statute of the European company, ruled by a single legislation in order to facilitate the freedom of movement of the companies inside the European Union (EU).

He underlined the symbolic value of the current Statute of the European company, noting that its application is deficient, PC Press Office informs in a release remitted to AGERPRES on Thursday. “The idea of an European company dates back to the ‘50ies and was reiterated after the enactment of the Treaty of Rome within the common market set goal.

The current statute of the European company has a symbolical value and provides a certain freedom as for the setting up and mobility. Numerous companies make use of the European company statute to demonstrate their unique European profile, this representing at the same time an instrument for the companies seeking to develop cross-border merger strategies.

Despite that the legislation is not uniform and depends on the national legislation specificity”, stated Sabin Cutas. According to him, “one of the community’s fundamental freedoms is restricted through the provisions which ban the setting up of the social headquarters and of the central headquarters in different member states, namely the ones ruling the companies’ freedom of movement”.

The Romanian MEP underscored the need to create an autonomous statute for this type of company. “The European Commission report on the application of the regulation should include a study on the possibility to locate the central administration and the social headquarters of an European company in different member states and it also should take into account a revision of the regulation in order to go ahead, in the sense of the creation of an autonomous statute for this type of company”, said Sabin Cutas, member of the European Parliament Committee for Economic and Monetary Affairs (ECON).