On 18 November 2019, the Council of the European Union (Council) announced that it had formally adopted at first reading the proposal for a directive to amend Directive (EU) 2017/1132 as regards cross-border conversions, mergers and divisions ("Directive"). The Directive was adopted at first reading by the European Parliament on 18 April 2019, as amended by a corrigendum approved by the European Parliament on 29 October 2019. The changes made in the corrigendum were mainly corrections or of a stylistic or linguistic nature.
On 12 December 2019, the Directive was published in the Official Journal. The text of the Directive is substantially the same form as that adopted by the Council in November. The Directive entered into force 20 days after its publication in the Official Journal. Member states must bring into force the laws, regulations and administrative provisions required in order to comply with the Directive by 31 January 2023.
We discussed the content of the amending directive as first adopted in April 2019 in the July edition of this newsletter.
View the corrigendum here.
View the Official Journal which published the Directive here.
View the Directive here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.