The following Corporate guidance note provides comprehensive and up to date legal information covering:
In 2003 the European Commission (Commission) initiated a formal action plan aimed at enhancing corporate governance across Europe ('Modernising Company Law and Enhancing Corporate Governance in the European Union – A Plan to Move Forward') (COM(2003)284) (2003 Action Plan).
The Plan derived from the findings of the 2002 final report of the High Level Group of Company Law Experts chaired by Jaap Winter (Winter Report) tasked with creating a modern regulatory framework for company law in Europe.
The main objectives of the 2003 Action Plan, as emphasised in its associated press release, were:
to strengthen shareholders' rights and protection for employees, creditors and the other parties with which companies deal, while adapting company law and corporate governance rules appropriately for different categories of company
to foster the efficiency and competitiveness of business, with special attention to some specific cross-border issues
The 2003 Action Plan led directly to Directive 2006/46/EC which amended earlier European accounting legislation so as to require a corporate governance statement in a listed company’s annual report.
Chapter 7 of the Disclosure Guidance & Transparency Rules (DTRs) provides that an issuer may elect that, instead of including its corporate governance statement in its directors' report, the information required by DTR 7.2.1 R to DTR 7.2.7 R may be set out in a separate report
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234