Chapter

The European Model Company Act (EMCA)—A New Way Forward

Paul Krüger Andersen

in Company Law and Economic Protectionism

Published in print December 2010 | ISBN: 9780199591459
Published online May 2011 | e-ISBN: 9780191595578 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199591459.003.0014
The European Model Company Act (EMCA)—A New Way Forward

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This chapter discusses the European Model Company Act (EMCA) project. The EMCA will be designed as a freestanding general company statute that can be enacted substantially in its entirety by the Member States, or they may enact selected provisions of the Model Act. This approach differs from previous European company law initiatives as it is a general settlement of the debate on which one of the two regulatory approaches is superior—regulatory competition or harmonization. The EMCA offers the Member States a harmonized company law, but leaves it to each Member State to decide whether it will offer its businesses the advantages given by harmonization. The major benefit from an integrated company law framework is that it establishes similar conditions for company shareholders and third parties all over the EU, thus facilitating cross-border investment and trading by ensuring shareholder rights and rebuilding investor confidence.

Keywords: EU law; company law; harmonization; EU member states; Model Act; European Model Company Act

Chapter.  10016 words. 

Subjects: Company and Commercial Law

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