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European Cooperative Society
European Cooperative Society
European Cooperative Society
European Cooperative Society
SUMMARY OF:
SUMMARY
WHAT DO THIS REGULATION AND THIS DIRECTIVE DO?
KEY POINTS
Formation
An SCE may be formed:
An EU country may allow a company whose head office is not in the EEA to take part in forming an SCE if it:
Capital
The capital of an SCE, represented by its members' shares must be a minimum of €30,000. An SCE may have a limited proportion of ‘investor members’. They do not use the services of the cooperative and have limited voting rights.
Tax
An SCE has the same tax status as any multi-national company and must therefore pay tax in those countries in which it is permanently established.
Registeredoffice
The registered office of an SCE may be transferred to another EU country without resulting in the winding-up of the SCE or in the creation of a new company. The registered office and head office must be in the same place.
Winding up, liquidation, insolvency and suspension of payments
An SCE may be wound up either by:
In cases of liquidation, insolvency or suspension of payments, the SCE is subject to the laws of the country in which it has its registered office.
Involvement of employees
The arrangements for the involvement of employees (information, consultation and participation) must be established in every SCE. In defining these arrangements, the national rules of the country where the head office is located apply to SCEs established:
Report
A 2012 Commission report, based on a public consultation, found that relatively few SCEs had been set up. It pledged to ask interested parties whether and how the Statute should be simplified.
At an EU Presidency Conference in Cyprus during the International Year for Cooperatives in 2012, it was decided not to proceed to any amendment of the regulation but to seek the reasons for the poor application of the SCE by the market operators.
Working Group
The Working Group on Cooperatives was established in 2013 to assess the specific needs of cooperative enterprises with regard to a wide variety of issues such as the appropriate EU regulatory framework, the identification of barriers at national level and the internationalisation of cooperatives. (See Report of the discussions of the Working Group and meeting minutes).
FROM WHEN DO THE REGULATION AND DIRECTIVE APPLY?
The directive applies from 18 August 2003. EU countries had to incorporate it into national legislation by 18 August 2006.
The regulation applies from 18 August 2006.
BACKGROUND
ACTS
Council Regulation (EC) No 1435/2003 of 22 July 2003 on the Statute for a European Cooperative Society (SCE) (OJ L 207, 18.8.2003, pp. 1-24)
Successive amendments to Regulation (EC) No 1435/2003 have been incorporated in the original text. This consolidated version is of documentary value only.
Council Directive 2003/72/EC of 22 July 2003 supplementing the Statute for a European Cooperative Society with regard to the involvement of employees (OJ L 207, 18.8.2003, pp. 25-36)
See consolidated version.
RELATED ACTS
Report from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions: The application of Council Regulation (EC) No 1435/2003 of 22 July 2003 on the Statute for a European Cooperative Society (SCE) (COM(2012) 72 final of 23.2.2012)
last update 16.03.2016