In line with the Lisbon Strategy, the Action Plan for Corporate Governance focused on measures to strengthen the internal market and provide a comprehensive, dynamic and flexible framework for company law and corporate governance in Europe. However, the action plan did not consider in depth the status of other forms of organisation.
The current situation of foundations in Europe makes a re-examination of the future priorities set by the Company Law Action Plan (CLAP) for improving the competitiveness of European companies necessary. With this goal, the European Commission proposed a consultation to analyse the feasibility of re-launching old initiatives in this field, among them the question of a European foundation statute. This seminar, organised by the Academy of European Law (ERA) in co-operation with the European Foundation Centre (EFC), addressed the prospects for a new initiative on a European regulation on foundations. Many issues were discussed, including:
- What are the barriers to foundations operating across borders? Could a European legal instrument improve their situation?
- Do foundations enjoy freedom of establishment and free movement of services in the internal market? Do national tax rules with regard to foundations and their donors in EU member states conflict with provisions of the EC Treaty?
- Is there support for a legal instrument for foundations at European level? How will the report of the High Level Group of Company Law Experts of November 2002 and the Action Plan of the Commission of May 2003 as well as the EU consultation on the 2003 Action Plan during 2005-06 be reference points for a future proposal on a European foundation statute?
- What are the current trends at national level regarding the law on public benefit foundations? What else could be done to improve the international operating environment for foundations?