The 28th regime: a uniform legal framework for companies in Europe

The EU Commission has consulted on the 28th regime. The aim is to create harmonised company law that complements existing national legal forms and, in particular, facilitates cross-border business activities in the EU. To this end, labour, tax and insolvency law is also to be harmonised in order to strengthen the internal market and EU competitiveness.

In its response to the European Commission's consultation, Deutsches Aktieninstitut expressly welcomes the fact that such a European legal framework is being considered not only for small and medium-sized enterprises, but for companies of all sizes. In order to meet the requirements of small to large companies, we proposed at the end of September in the hearing of the Federal Ministry of Justice and Consumer Protection (BMJV) that, with extensive freedom of association, two optional model statutes be specified, one based on the limited liability company (GmbH) and the other on the public limited company (Aktiengesellschaft). We also consider it necessary to enable companies to go public in order to open up growth opportunities for them in all phases of their existence and throughout Europe.