¹ The subject is introduced in this way by Giuseppe Zanarone, Della Società a Responsabilità Limitata, in Commentario al Codice Civile, 149 (Francesco D. Busnelli ed., 2010).Google Scholar

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⁵ Consolidated Version of the Treaty on the Functioning of the European Union art. 352, 9 May 2008, 2008 O.J. (C 115) 47, 196.Google Scholar

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¹⁹ Presidency Compromise Proposal for a Council Regulation on the Statute for a European Private Company (SPE) No. 17152/08 of 11 Dec. 2008, available at http://register.consilium.europa.eu/pdf/en/08/st17/st17152.en08.pdf.Google Scholar

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²³ Proposal for a Council Regulation on a European Private Company No. 10129/11 of 12 May 2011, available at http://register.consilium.europa.eu/pdf/en/11/st10/st10129.en11.pdf.Google Scholar

²⁴ Proposal for a Council Regulation on a European Private Company - Political Agreement No. 10611/11 of 23 May 2011, available at http://register.consilium.europa.eu/pdf/en/11/st10/st10611.en11.pdf.Google Scholar

²⁵ Consolidated Version of the Treaty on the Functioning of the European Union art. 352, 9 May 2008, 2008 O.J. (C 115) 47, 196.Google Scholar

²⁶ Council Regulation 2137/1985/EC, 1985 O.J. (L 199) 1, 3 (EC).Google Scholar

²⁷ Council Regulation 2157/2001/EC, 2001 O.J. (L 294) 1, 4 (EC).Google Scholar

²⁸ Council Regulation 1435/2003, 2003 O.J. (L 207) 1, 15—21 (EC).Google Scholar

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³⁰ New point (ea).Google Scholar

³¹ See Resolution on the Proposal for a Council Regulation on the Statute for a European Private Company, Eur. Parl. Doc. (COM 396) (2008), available at http://www.europarl.europa.eu/sides/getDoc.do;jsessionid=9E04665B687088BB5181366D7A7DB77C.node1?pubRef =-//EP//TEXT+TA+P6-TA-2009-0094+0+DOC+XML+V0//EN.Google Scholar

³² Recital (2a).Google Scholar

³³ Alessandra Zanardo & Rolandino Guidotti, La società Cooperativa Europea (SCE) e il Progetto di Società Privata Europea (SPE), in Percorsi di Diritto Societario Europeo 166, 168 (Elisabetta Pederzini ed., 2011).Google Scholar

³⁴ Jeorge Feliu Rey & Teresa Rodríguez de las Heras Ballell, The European Private Company: A Firm Step Forward (and Some Unsteady Steps Backwards), in the Corporate Law Flexibilization Process in Europe, 2 Contratto e Impresa Europa 526, 546 (2011).Google Scholar

³⁵ See Resolution on the Proposal for a Council Regulation on the Statute for a European Private Company, supra note 31.Google Scholar

³⁶ Any amendment of the constituent act, introducing or removing the arbitration clause by a resolution of the shareholders, must be approved by shareholders representing at least two-thirds of the share capital. Id. Google Scholar

³⁷ Settlement of a dispute by arbitration is often faster and cheaper than litigation in courts. Arbitral proceedings can be kept confidential because arbitration is a private procedure.Google Scholar

³⁸ Zaman, supra note 2, at 45.Google Scholar

³⁹ Commission Proposal for a Council Regulation on the Statute for a European Private Company, supra note 2, at 15.Google Scholar

⁴⁰ Id. at 37—39.Google Scholar

⁴¹ See Commission Proposal for a Council Regulation on the Statute for a European Private Company, supra note 2, at 6.Google Scholar

⁴² See Id. at 12.Google Scholar

⁴³ Id. at 17.Google Scholar

⁴⁴ But without prejudice to art. 42, according to which, “Member States in which the third phase of economic and monetary union (EMU) does not apply may require SPEs having their registered office in their territory to express their capital in national currency. An SPE may also express its capital in euro.”Google Scholar

⁴⁵ Id. at 23.Google Scholar

⁴⁶ Id. Google Scholar

⁴⁷ Id. Google Scholar

⁴⁸ Id. at 7.Google Scholar

⁴⁹ Id. at 23.Google Scholar

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⁵² See Commission Proposal for a Council Regulation on the Statute for a European Private Company, supra note 2.Google Scholar

⁵³ Weigmann, supra note 2, at 109; van den Braak, supra note 1, at 2; Jaap Barneveld, Legal Capital and Creditor Protection — Some Comparative Remarks, in Zaman et. al. eds., The European Private Company (SPE) (note 2) 81; Kornak (note 2) 1324.Google Scholar

⁵⁴ Commission Proposal for a Council Regulation on the Statute for a European Private Company, supra note 2, at 37.Google Scholar

⁵⁵ Id. at 21.Google Scholar

⁵⁶ Id. Google Scholar

⁵⁷ Id. Google Scholar

⁵⁸ Id. Google Scholar

⁵⁹ Id. Google Scholar

⁶⁰ Resolution on the Proposal for a Council Regulation on the Statute for a European Private Company, supra note 31.Google Scholar

⁶¹ Commission Proposal for a Council Regulation on the Statute for a European Private Company, supra note 2, at 24.Google Scholar

⁶² In Italian law, under no circumstances can the limited liability company give or accept its own quotas in guaranty, or can grant loans or issue guaranties for their acquisition or their subscription. See Art. 2472 Codice civile [C.c.] (It.).Google Scholar

⁶³ Commission Proposal for a Council Regulation on the Statute for a European Private Company, supra note 2, at 38.Google Scholar

⁶⁴ Id. at 25.Google Scholar

⁶⁵ Id. at 26.Google Scholar

⁶⁶ Id. Google Scholar

⁶⁷ Id. Google Scholar

⁶⁸ Id. Google Scholar

⁶⁹ Id. at 38.Google Scholar

⁷⁰ Id. at 28.Google Scholar

⁷¹ Id. at 38Google Scholar

⁷² Id. at 25.Google Scholar

⁷³ Id. at 29.Google Scholar

⁷⁴ Id. at 28.Google Scholar

⁷⁵ Id. Google Scholar

⁷⁶ Id. Google Scholar

⁷⁷ Regarding this topic, see Zanarone, supra note 1, at 1047.Google Scholar

⁷⁸ Commission Proposal for a Council Regulation on the Statute for a European Private Company, supra note 2, at 29.Google Scholar

⁷⁹ Id. at 32—33.Google Scholar

⁸⁰ Id. at 33.Google Scholar

⁸¹ Id. Google Scholar

⁸² Council Directive 2005/56, 2005 O.J. (L 310) 1 (EC). See also id. at 29.Google Scholar

⁸³ Robbert van het Kaar & Ilse Zaal, Employee Participation, in Zaman et. al. eds., The European Private Company (SPE) (note 2) 163.Google Scholar

⁸⁴ Id. at 159.Google Scholar

⁸⁵ See Resolution on the Proposal for a Council Regulation on the Statute for a European Private Company, supra note 32.Google Scholar

⁸⁶ See id. Google Scholar

⁸⁷ See id. Google Scholar

⁸⁸ Proposal for a Council Regulation on a European Private Company - Political Agreement No. 16115/09 of 27 Nov. 2009, supra note 21.Google Scholar