In early 2007, the European Commission launched an Action Programme designed to reduce the administrative burdens of European law. With regard to company law, the Commission has announced several proposals including:
(a) Removing the requirement that business data is published in national gazettes.
(b) Parent companies with no material subsidiaries will no longer need to prepare consolidated accounts.
Postscript (22 April 2008): The Commission's proposals have been formally published here and here.
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