The influence of the European Union on Maltese company law

Abstract

Maltese company law has seen considerable intervention under the influence of the European Union (EU). This thesis attempts to assess the extent of such intervention. There will be four chapters in this thesis, apart from the Introduction and Conclusion. Chapter One contains an overview of Maltese company law in the light of EU Membership. It also discusses the impact of EU membership on Maltese companies. The final part of the First Chapter deals with the authorities that have the task of ensuring the effective implementation and enforcement of EU Company law, in addition to national law. Chapter Two deals with the EC Company Law Harmonisation Programme. Its objectives, treaty basis, and the different forms of harmonisation are highlighted. The final part of the Chapter gives an overview of the development of the harmonisation programme, which includes the harmonisation of national company laws through various EC Directives and the creation of supra-national business entities through EC Regulations. The EC Company Law Directives, their salient features, the way they affect particular classes of corporate entities, and the manner in which they have been transposed into Maltese company law is discussed in Chapter Three. Chapter Four discusses supranational business organisations, which are largely regulated by a uniform set of rules applicable throughout the Community. Because of its importance and the opportunities which it brings, the large part of this Chapter focuses on the European Company or 'Societas Europeae' (SE), including its benefits, shortcomings and main features. Particular attention is given to the way an SE would operate in Malta. This Chapter also deals with the European Economic Interest Grouping (EEIG) and the European Cooperative Society (SCE), which are already in existence; and the European Association (EA) and European Mutual Society (ME), which are currently at the stage of proposal.