A comparative analysis between the Companies Act 1995 and the European Union draft Fifth Directive

Abstract

This dissertation carries out a detailed analysis of the company's structure with the ambit of the Companies Act 1995. The Maltese company law set up a structure for the Maltese companies both private and public. The member countries of the European Union have different company structures. Of particular interest are the British and the Dutch models. Both of them aim to promote business in various ways, regulating profit maximisation and employment. The European Union proposed harmonisation on this matter by introducing the European draft Fifth Directive. This draft was proposed in 1972 followed by several amendments. The aim of this directive is to create an even playing field for all public companies within the European Union regarding workers' participation, the directors' powers and responsibilities, general meetings and the rights of shareholders and the audit of the annual accounts. The proposed Fifth directive, in its previous drafts has not been unanimously accepted by Member States. The analysis was carried further to review the impact in Malta upon harmonisation with the European Union.