oa Comparative and International Law Journal of Southern Africa - Unified European corporate structures: the proposed European Company Statute and the new European Economic Interest Grouping
The achievement of a truly Single Market calls for a legal framework permitting the formation of Community companies, i.e companies organised under Community law. In this respect, the European Commission has proposed the two Regulations, with which this paper is primarily concerned. First, in mid-1988, the Commission issued a Memorandum which attempted to revive the proposal already introduced in 1970 - that a European Company be created. Negotiations within the Council on this had been suspended in 1982. Second, when the Regulation establishing the new "European Economic Interest Grouping" (EEIG) came into force on 1 July 1989, for the first time, a new form of business organisation was established, directly as a part of the Community legal system. The article explains how both these initiatives are an integral part of the Community's industrial policy, which consists of a two-pronged company law programme to promote a better legal framework to facilitate industrial cooperation.
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