EU steps up legal action vs Sweden, Italy, others on company law, rental rights |
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Wed, 17 Oct 2007 11:28
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BRUSSELS (Thomson Financial) - The European Commission said it has decided to pursue infringement procedures against the Czech Republic, Italy and Sweden on the implementation of the company law Directive, Belgium on the Capital Requirements Directive, and Ireland on the matter of rental and lending rights.The commission will send letters of are asoned opinion' to the Czech Republic, Italy and Sweden for failure to transpose into national law EU rules on disclosure requirements for limited liability companies by the indicated deadline of 31 December 2006.This is the the second stage in EU legal proceedings; if there is no satisfactory reply within two months, the commission may refer the matter to the European Court of Justice, Europe's highest court.A similar letter was also sent to Belgium for failing to implement the capital requirements directive, specifically part relating to the taking up and pursuit of the business of credit institutions.Belgium was previously sent a letter of formal notice in Feb 2007; it should have implemented the measures by Dec 31 2006.Finally, the commission stepped up proceedings against Ireland on rental and lending rights of public lending of books. Ireland has failed to execute and earlier judgment made by the European Court of Justice.frances.robinson@thomson.comfr/lamCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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