Explanatory Memorandum to COM(2014)391 - Adaptation of Directive 2013/34/EU by reason of the accession of Croatia - Main contents
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| dossier | COM(2014)391 - Adaptation of Directive 2013/34/EU by reason of the accession of Croatia. |
|---|---|
| source | COM(2014)391  |
| date | 27-06-2014 |
The proposal for a Council Directive adapting Directive 2013/34/EU is necessitated by the accession of the Republic of Croatia to the European Union.
The Treaty concerning the accession of the Republic of Croatia to the European Union[1] (hereinafter: “the Treaty of Accession”) was signed by all Member States of the European Union and the Republic of Croatia at Brussels on 9 December 2011.
Article 3(3) of the Treaty of Accession provides that it shall enter into force on 1 July 2013 provided that all the instruments of ratification have been deposited before that date.
Article 3 i of the Treaty of Accession enables the institutions of the Union to adopt before accession measures referred to, inter alia, in Article 50 of the Act concerning the conditions of accession of the Republic of Croatia[2] (hereinafter: “the Act of Accession”). These measures shall enter into force only subject to and on the date of the entry into force of the Treaty of Accession.
Article 50 of the Act of Accession provides that where acts of the institutions adopted prior to accession require adaptation by reason of accession, and the necessary adaptations have not been provided for in this Act of Accession or its Annexes, the Council or the Commission (if the original acts were adopted by the Commission) shall adopt the necessary acts.
The Directive 2013/34/EU was adopted on 26 June 2013 and published in the Official Journal of the European Union on 29 June 2013. It does not include necessary references to the companies established in Croatia that should be within the scope of the Directive. Council Directive 2013/24/EU of 13 May 2013 adapting certain directives in the field of company law, by reason of the accession of the republic of Croatia adapted Directives 78/660/EEC and 83/349/EEC, in order to add to the scope of those Directives the relevant list of Croatian limited liability companies. However, these directives were repealed when Directive 2013/34/EU entered into force in July 2103. Therefore it is necessary to take into account this evolution of the Union law and adapt Directive 2013/34/EU accordingly.
The present proposal for a Council Directive covers the technical adaptations to Directive 2013/34/EU that are required by reason of the accession of Croatia.
Contents
As this proposal is of a purely technical nature and does not imply any substantial modifications of Directive 2013/34/EU, consultations with interested parties or impact assessments are not necessary.
The legal basis for the proposal is Article 50 of the Act of Accession concerning the conditions of accession of the Republic of Croatia.
The principles of subsidiarity and proportionality are fully respected. The action of the Union is necessary under the principle of subsidiarity (Article 5(3) TEU) because it concerns technical adaptations to legal acts which were enacted by the Union. The proposal respects the principle of proportionality (Article 5 i TEU) because it does not go beyond what is necessary to reach the objective pursued.
The proposal has no Union budgetary implications.