RSS
Shareholder’s rightsThe Commission Action Plan on modernising company law and enhancing corporate governance in the European Union set the improvement of the rights of shareholders of companies across the Member States as a priority. After it carried out two public consultations, the Commission, therefore, proposed on 5 January 2006 a directive which was formally adopted in June 2007. The Directive that has to be transposed into Member States’ laws by summer 2009 will ensure in particular that shareholders have timely access to the complete information relevant to general meetings and facilitates the exercise of voting rights by proxy. Furthermore, the directive provides for the replacement of share blocking and related practices through a record date system. In parallel, the Commission is carrying out another public consultation in relation to a possible Commission recommendation planned for end of 2007 which should complement the directive on questions like stock lending, the role of intermediaries in the voting process and the language of documents to be submitted to the meeting . Third public consultationComments had to be received by 27 July 2007
Adoption of the Directive
Proposal for a directiveThe Commission proposes a directive on the exercise of shareholders’ voting rights (5.1.2006)
Second public consultation[closed] Comments had to be received by 15.7.2005.
First public consultation[closed] Comments on this note had to be received by 16.12.2004.
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