21.4.92 OfficialJournaloftheEuropeanCommunities NoC99/1
II
(PreparatoryActs)
COMMISSION
ProposalforacouncilregulationonthestatuteforaEuropeanassociation
(92/C99/01)
COM(91)273final—SYN386
(SubmittedbytheCommissionon6March1992)
Whereasassociations andfoundations aretherefore
aboveallentitieswhichactwithoutthemainintention
ofsecuringaprofitandwhichoperateinaccordance
withtheirownprinciples,whicharedifferentfrom
thoseapplyingtootherbusinesses;
Whereastodayalmostallassociationsandfounda­
tions,inpursuitoftheiraims,playafullpartinthelife
oftheeconomy,byengagingonaregularbasisinsome
economicactivity,astheirmainactivityorasasecon­
daryone;
Whereascross-bordercooperationbetweenassocia­
tionsandfoundationsiscurrentlyhamperedbylegal
andadministrative difficultiesintheCommunitywhich
shouldbeeliminatedinamarketwithoutfrontiers;THECOUNCILOFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,andinparticularArticle100a
thereof,
HavingregardtotheproposalfromtheCommission ,
IncooperationwiththeEuropeanParliament,
HavingregardtotheopinionoftheEconomicand
SocialCommittee ,
WhereastheEuropeanParliamentadoptedaresolution
of13March1987onnon-profit-making associationsin
theEuropeanCommunities(');
WhereastheCommissionadoptedacommunication to
theCouncilof18December1989(2);whereasthe
EconomicandSocialCommitteegaveitsopinionon
thatcommunication on19September1990(3);
Whereasthecompletionoftheinternalmarketmeans
thattheremustbefullfreedomofestablishment forall
activitieswhichcontributetotheobjectivesofthe
Community,irrespectiveoftheformtakenbythebody
whichcarriesthemon;
WhereasassociationsinEuropehelptopromotethe
generalinterestandtodevelopmanyandvariousactiv­
itiesinfieldssuchaseducation,culture,socialworkor
developmentaid;
Whereasfoundations areentitiestowhichhavebeen
irrevocablyallottedgoods,rightsandresourcesforcar­
ryingoutworkwhichisofpublicinterest;WhereastheintroductionofaEuropeanformoforgan­
izationshouldenableallassociationsandfoundations
tooperateoutsidetheirownnationalbordersinallor
partoftheterritoryoftheCommunity ;
Whereas,therefore,theCommunity ,whichiscon­
cernedtorespectequaltermsofcompetitionandto
contributetoitseconomicdevelopment ,shouldpro­
videassociationsandfoundations ,whichareaformof
organizationgenerallyrecognizedinallMemberStates,
withanadequatelegalinstrumentcapableoffacilitat­
ingthedevelopmentoftheirtransnationalactivities;
(')OJNoC99,13.4.1987,p.205.WhereastheStatuteforaEuropeancompany,asprov­
idedforinRegulation(EEC)No...(4),isnotan
(2)Businessesinthe'économiesociale'sector—Europe's
frontier-freemarket:SEC(89)2187final.0OJNoC332,31.12.1990,p.81. (4)OJNo

NoC99/2 OfficialJournaloftheEuropeanCommunities 21.4.92
instrumentwhichissuitedtothespecificfeaturesof
associationsandfoundations ;
WhereastheEuropeanEconomicInterestGrouping
(EEIG),asprovidedforinRegulation(EEC)No
2137/85('),doesallowcertainactivitiestobecarried
onincommon,whileneverthelesspreservingthe
independenceofitsmembers,butitdoesnotmeetthe
specificrequirementsofassociationsorfoundations ;Comminitylawareapplicable,forexamplewithregard
to:
—rulesonemployeeinvolvement inthedecision­
makingprocess,
—employmentlaw,
—taxationlaw,
—competitionlaw,
—intellectualandindustrialpropertylaw,
—rulesoninsolvencyandsuspensionofpayments;WhereasitisthereforefittingtoestablishatCom­
munityleveladequateandspecificruleswhichwill
permitthecreationofEuropeanassociations ;whereas
itseemsappropriatetoenablefoundationstotake
advantageoftheserulesandsotosetupEuropean
associations ;whereas,nevertheless ,anyEuropean
associationestablishedbyfoundationswillbegov­
erned,asregardsitsconstitutionandfunctioning,by
theprovisionsofthesaidsetofrules;WhereastheapplicationofthisRegulationmustbe
deferredsoastoenableeachMemberStatetoincor­
porateintoitsnationallawtheprovisionsofCouncil
Directive(EEC)No...supplementing theStatutefora
Europeanassociationwithregardtotheinvolvementof
employees(2)intheEuropeanassociationandtoputin
placeinadvancethenecessarymachineryforsecuring
theformationandoperationofEuropeanassociations
havingtheirregisteredofficeinitsterritory,sothatthe
RegulationandtheDirectivemaybeappliedconcomi­
tantly;WhereasatCommunitylevelassociationsandfounda­
tionsexemplifyaPeople'sEuropeinthattheyhelpand
encourageindividualstoplayanactiveroleinthelife
oftheCommunity ;whereasitisfittingthatnaturalper­
sonsshouldalsobeabletoestablishaEuropeanasso­
ciationabinitio;
Whereasrespectfortheprincipleoftheprimacyofthe
individualisreflectedinthespecificrulesonmember­
ship,resignationandexpulsion,wherethe'oneman,
onevote'ruleislaiddownandtherighttovoteis
vestedintheindividual,withtheimplicationthat
memberscannotshareintheprofitsrealizedorexercise
anyrightsovertheassetsoftheEuropeanassociation ;Whereasworkontheapproximation ofnationalcom­
panylawhasmadesubstantialprogresssothatrefer­
encemaybemadetocertaindispositionsmadebythe
MemberStatewheretheassociationhasitsregistered
officeforthepurposeofimplementing directiveson
companies,byanalogyfortheEuropeanassociationin
areaswherethefunctioningoftheassociationdoesnot
requireuniformCommunityrules,suchdispositions
beingappropriatetothearrangements governingthe
Europeanassociation :Whereastheessentialaimofthelegalrulesgoverning
theEuropeanassociationimpliesthatsuchanassoca­
tionmaybeconstitutedbynaturalpersonscoming
from(andresidentin)twoMemberStatesoftheCom­
munity,orbylegalentitiesfromtwodifferentMember
Statesandbytransformation ofanationalassociation
withoutfirstbeingwoundupsolongastheassociation
hasitsregisteredofficeandcentraladministration in
theCommunityandanestablishment inaMember
Stateotherthanthatinwhichithasitscentraladminis­
tration;inthislastcase,theassocationmustengagein
genuineandeffectivecross-borderactivity;—CouncilDirective68/151/EECof9March1968
oncoordinationofsafeguardswhich,forthepro­
tectionoftheinterestsofmembersandothers,are
requiredmyMemberStatesofcompanieswithin
themeaningofthesecondparagraphofArticle58
oftheTreaty,withaviewtomakingsuchsafe­
guardsequivalentthroughouttheCommunity (3),
aslastamendedbytheActofAccessionofSpain
andPortugal,
—CouncilDirective78/660/EECof25July1978
basedonArticle54(3)(g)oftheTreatyonthe
annualaccountsofcertaintypesofcompanies(4),
aslastamendedbyDirectives90/604/EEC(5)and
90/605/EEC(6),Whereastherulesonaccountingareintendedtoensure
moreeffectivemanagementandtoforestallanypossi­
bledifficulty;
Whereas,onmattersnotcoveredbythisRegulation,
theprovisionsofthelawoftheMemberStatesandof(2)Seepage14ofthisOfficialJournal—Proposal.
(3)OJNoL65,14.3.1968,p.8.
(«)OJNoL222,14.8.1978,p.11.
(')OJNoL199,31.7.1985,p.1.(5)OJNoL317,16.11.1990,p.57.
(6)OJNoL317,16.11.1990,p.60.

21.4.92 OfficialJournaloftheEuropeanCommunities NoC99/3
onofanactivityortheexerciseofaprofession,theEA
shallbefreetodeterminetheactivitiesnecessaryfor
thepursuitofitsobjects,providedtheyarecompatible
withtheobjectivesoftheCommunity ,Community
publicpolicyandthepublicpolicyoftheMember
States.Itshallpursuetheminaccordancewiththe
principleswhichderivefromitscharacterasagrouping
ofpersons,andshallbemanagedinadisinterested
fashion.—CouncilDirective83/349/EECof13June1983
basedonArticle54(3)(g)oftheTreatyonconsoli­
datedaccounts('),aslastamendedbyDirectives
90/604/EECand90/605/EEC,
—CouncilDirective84/253/EECof10April1984
basedonArticle54(3)(g)oftheTreatyonthe
approvalofpersonsresponsibleforcarryingout
thestatutoryauditsofaccountingdocuments(2),
—CouncilDirective89/48/EECof21December
1988onageneralsystemfortherecognitionof
higher-education diplomasawardedoncompletion
ofprofessionaleducationandtrainingofatleast
threeyears'duration(3),
—CouncilDirective89/666/EECof21December
1989concerningdisclosurerequirementsinrespect
ofbranchesopenedinaMemberStatebycertain
typesofcompanygovernedbythelawofanother
State(4);
Whereasrecoursetothissetofrulesshouldbe
optional,Article2
(Legalpersonality)
1.AnEAshallhavelegalpersonality .Itshallacquire
itonthedayofitsregistrationintheMemberStatein
whichithasitsregisteredoffice,intheregisterdesig­
natedbythatStateinaccordancewithArticle7(3).
2.AnEA'slegalpersonalityshallentitleitinparti­
culartoperformanyofthefollowingacts,provided
theyarenecessaryforthepursuitortheEA'sobjects:
a)toconcludecontractsandperformotherlegalacts;
b)toacquiremovableandimmovableproperty;
c)toreceivedonationsandlegacies;
d)toemploystaff;
e)tobeapartytolegalproceedings .
3.TheliabilityoftheEAshallbelimitedtoitsassets.HASADOPTEDTHISREGULATION :
TITLEI
GENERALPROVISIONS
ChapterI
FormationoftheEuropeanassociation
Article1
(FormoftheEuropeanassociation)
1.AEuropeanassociation(EA)shallbeapermanent
bodywhosememberspooltheirknowledgeortheir
activitieseitherforapurposeinthegeneralinterestas
understoodinthelegalsystemoftheMemberStatein
whichtheEAhasitsregisteredofficeorinorder
directlyorindirectlytopromotethetradeorprofes­
sionalinterestsofitsmembers .
Theprofitsfromanyeconomicactivitycarriedoutby
theEAshallbedevotedexclusivelytothepursuitofits
objects,andmaynotbedividedamongstthemembers.
2.Subjecttotheapplicationatnationallevelofthe
legalandadministrative rulesgoverningthecarryingArticle3
(Formationandrules)
1.ThefollowingmayformanEA:
—twoormorelegalentities,formedunderthelawof
aMemberState,setoutintheAnnexandhaving
theirregisteredofficeandcentraladministration in
atleasttwoMemberStates,
—atleast21naturalpersonsbeingnationalsofat
leasttwoMemberStates.
2.Anassociationwhichhasbeenformedinaccord­
ancewiththelawofaMemberStateandhasitsregis­
teredofficeandcentraladministration intheCom­
munitymayformanEAbyconvertingintoEAformif
ithasanestablishment inaMemberStateotherthan
thatofitscentraladministration ,andcandemonstrate
thatitiscarryingongenuineandeffectivecross-border
activities.
Suchconversionshallnotresultintheassociation
beingwounduporinthecreationofanewlegalper­
son.(')OJNoL193,18.7.1983,p.1.
OOJNoL126,12.5.1984,p.20.0OJNoL19,24.1.1989,p.16.
(4)OJNoL395,30.12.1989,p.36.

NoC99/4 OfficialJournaloftheEuropeanCommunities 21.4.92
2.Wherethetransferoftheregisteredofficeresultsin
achangeofthelawapplicablepursuanttoArticle6(1)
(b),atransferproposalshallbepublishedinaccord­
ancewithArticle7.
Nodecisiontotransfermaybetakenfortwomonths
afterpublicationoftheproposal.Anysuchdecision
mustbetakenundertheconditionslaiddownforthe
amendmentofthestatutes.Thetransferoftheregis­
teredofficeoftheEAandtheresultingamendmentto
itsstatutesshalltakeeffectfromthedateofregistration
oftheEA,inaccordancewithArticle7(3),intheregis­
terforthenewregisteredoffice .Thatregistrationmay
notbeeffecteduntilevidencehasbeenproducedthat
theproposedtransferoftheregisteredofficehasbeen
published .
3.TheremovaloftheEAfromtheregisterforitspre­
viousregisteredofficemaynotbeeffecteduntilevi­
dencehasbeenproducedthattheEAhasbeenregis­
teredintheregisterforitsnewregisteredoffice .
4.Thefactofthenewregistrationandthefactofthe
removaloftheoldregistrationshallbothbepublished
intheMemberStatesconcerned,inaccordancewith
Article8.
5.Thenewregistrationoftheregisteredofficeofthe
EAmaybereliedonasagainstthirdpartiesfrompub­
lication.However,untiltheremovaloftheEAfromthe
registerforitspreviousregisteredofficehasbeenpub­
lishedthirdpartiesmaycontinuetorelyontheold
registeredofficeunlesstheEAprovesthatsuchthird
partieswereawareofthenewregisteredoffice .Theexecutivecommitteeofsuchanassociationshall
drawupaproposalforconversioncoveringthelegal
andeconomicaspectsoftheconversion .
TheconversiontoEAformandtheEA'sstatutesshall
beapprovedbythegeneralmeetingofthemembersin
accordancewiththerequirements laiddownfor
amendmentofitsstatutesinArticle19.
3.ThestatutesoftheEAmustinclude:
—itsname,precededorfollowedbytheabbreviation
'EA',
—aprecisestatementofitsobjects,
—thename,address,occupationandnationalityof
thefoundermembers,wherethesearenaturalper­
sons,
—thename,objectsandregisteredofficesofthe
foundermembers,wherethesearelegalentities,
—theaddressoftheEA'sregisteredoffice,
—theconditionsandproceduresfortheadmission,
expulsionandresignationofmembers,
—therightsandobligationsofmembers,andthedif­
ferentcategoriesofmemberifany,andtherights
andobligationsofmembersineachcategory,
—thepowersandresponsibilities oftheexecutive
committee,andtheextentofitsauthoritytorepre­
senttheEAindealingswiththirdparties,
—provisionsgoverningtheappointmentandremoval
ofthemembersoftheexecutivecommittee,
—themajorityandquorumrequirements ,
—theconditionsfortheinitiationofproceedingson
behalfoftheEAunderArticle34,
—thegroundsforwindingup.
4.ForthepurposesofthisRegulationthe'statutes'of
theEAcompriseboththeinstrumentofincorporation
and,wheretheyaresetoutinaseparatedocument,the
EA'sstatutesproperlyso-called.
Article4
(Registeredoffice)
TheregisteredofficeofanEAshallbesituatedatthe
placespecifiedinitsstatutes,whichmustbewithinthe
Community ,Itshallbethesameastheplacewherethe
EAhasitscentraladministration .
Article5
(Transferofregisteredoffice)
1.TheregisteredofficeofanEAmaybetransferred
withintheCommunity .Suchtransfershallnotresultin
theEAbeingwounduporinthecreationofanew
legalperson.Article6
(Applicablelaw)
1.AnEAshallbegoverned:
a)—bytheprovisionsofthisRegulation,
—whereexpresslyauthorizedbythisRegulation,
bytheprovisionsfreelydeterminedbythepar­
tiesinthestatutesoftheEA;
failingthis:
b)—bythelawoftheMemberStateinwhichthe
EAhasitsregisteredoffice,asdeterminedby
thatState,
—bytheprovisionsfreelydeterminedbythepar­
tiesinthestatutesoftheEA,inaccordance
withthelawoftheMemberStateinwhichthe
EAhasitsregisteredoffice .
2.WhereaStatecomprisesseveralterritorialunits,
eachofwhichhasitsownrulesoflawapplicabletothe
mattersreferredtoinparagraph 1,eachterritorialunit

21.4.92 OfficialJournaloftheEuropeanCommunities NoC99/5
shallbeconsideredaStateforthepurposesofidentify­
ingthelawapplicableunderpoint(b)ofparagraph 1.
3.IneachMemberStateandsubjecttotheexpress
provisionsofthisRegulation,anEAshallhavethe
samerights,powersandobligationsasanassociation
formedunderthelawoftheMemberStateinwhichthe
EAhasitsregisteredoffice.(f)thewinding-upandliquidationoftheEAandthe
decisiontocontinuetheEA'sactivitiestakenpur­
suanttoArticle42;
(g)anydeclarationofnullityoftheEAbyacourt;
(h)theappointmentofliquidators,particularsofsuch
liquidatorsandtheirrespectivepowers,thetermi­
nationoftheiroffice.
(i)theconclusionoftheliquidationoftheEAandthe
removaloftheEAfromtheregister.
5.If,priortoitsacquisitionoflegalpersonality,steps
havebeentakeninthenameofanEAnadtheEAdoes
notassumetheobligationsarisingfromthosesteps,the
personswhotookthemshallbejointlyandseverally
liabletherefor,unlessotherwiseagreed.Article7
(Registrationanddisclosurerequirements )
Thefoundermembersshalldrawupthestatutesofthe
EAinaccordancewiththeprovisionsfortheformation
ofassociationslaiddownbythelawoftheStatein
whichtheEAhasitsregisteredoffice.Thestatutes
mustatleastbeinwritingandsignedbythefounder
members .
2.InthoseMemberStateswhoselegislationdoesnot
provideforanyprecautionary supervision,whether
administrative orjudicial,atthetimeofformation,the
statutesshallbeadoptedbynotarialact.Thesupervi­
soryauthorityshallensurethatthisactcomplieswith
therequirementsfortheformationofanEA,andin
particularthosesetoutinArticles1to4.
3.MemberStatesshalldesignatetheregisterinwhich
EA'smustberegisteredandshalldeterminetherules
governingit.Theyshalllaydowntheproceduresforfil­
ingtheEA'sstatutes.NoEAmayberegistereduntil
themeasuresprocidedforinDirective.../.../EEC
[supplementing theStatuteforaEuropeanassociation
withregardtotheinvolvementofemployees]have
beenadopted.
4.MemberStatesshalltakethemeasuresrequiredto
ensurethatthefollowingdocumentsandparticulars
aredisclosedasprovidedforinparagraph3:
(a)thestatutesoftheEA,anyamendmentstothem,
andthecompletetextofthestatutesinitsup-to­
dateform;
(b)theopeningorclosingofanyestablishment ;
(c)theappointment ,terminationofofficeandparticu­
larsofthepersonswhoeitherasabodyconstituted
pursuanttolaworasmembersofanysuchbody:
—areauthorizedtorepresenttheEAindealings
withthirdpartiesandinlegalproceedings ,
—takepartintheadministration ,supervisionor
controloftheEA;
(d)thebalancesheetandtheprofitandlossaccount
foreachfinancialyear;thedocumentcontaining
thebalancesheetshallgiveparticularsoftheper­
sonswhoarerequiredbylawtocertifyit;
(e)anyproposaltotransfertheregisteredofficeas
referredtoinArticle5(2);Article8
(Publicationofdocumentsandparticularsrelatingto
theEAintheMemberStates)
1.MemberStatesshallensurethatthedocuments
andparticularsreferredtoinArticle7(4)arepublished
intheappropriateofficialgazetteintheMemberState
inwhichtheEAhasitsregisteredoffice,andshall
determinebywhichpersonsthedisclosureformalities
aretobecarriedout.Disclosureshallbeeffectedby
publicationeitherofanextractorofareferencetothe
entryintheregister.
MemberStatesshallalsoensurethatanyonemaycon­
sultthedocumentsreferredtoinArticle7(4)inthe
registerreferredtoinArticle7(3),andmayobtaina
copyofthewholeoranypart,bypostifrequested.
MemberStatesshalltakethenecessarymeasuresto
avoidanydescrepancybetweenwhatisdisclosedby
publicationandwhatappearsintheregister.However,
incasesofdiscrepancy,thetextpublishedmaynotbe
reliedonasagainstthirdparties;thelattermaynever­
thelessrelythereon,unlesstheEAprovesthattheyhad
knowledgeofthetextsenteredintheregister.
MemberStatesmayrequirepaymentofafeeforthe
servicesreferredtointheprecedingsubparagraph ,but
thefeemaynotexceedtheadministrative cost.
2.ThenationalrulesadoptedpursuanttoDirective
89/666/EECshallapplytobranchesofanEAopened
inaMemberStateotherthanthatinwhichithasits
registeredoffice.
3.Documentsandparticularsmaybereliedonbythe
EAasagainstthirdpartiesonlyaftertheyhavebeen
disclosedinaccordancewithparagraph 1,unlessthe
EAprovesthatthethirdpartyhadknowledgethereof.
However,theymaynotbereliedoninrespectoftran­
sactionswhichtakeplacebeforethe16thdayafter

NoC99/6 OfficialJournaloftheEuropeanCommunities 21.4.92
publicationasagainstthirdpartieswhoprovethatthey
couldnothavehadknowledgethereof.
4.Thirdpartiesmayrelyonanydocumentsandparti­
cularsinrespectofwhichthedisclosureformalities
havenotyetbeencompleted,savewherenon-disclo­
surecausesthemnottohaveeffect.(b)mattersforwhichtheexecutivecommitteedoesnot
havesoleresponsibility asaresultof:
—thisRegulation,
—Directive.../.../EEC[supplementing the
StatuteforaEuropeanassociationwithregard
totheinvolvementofemployees],
—thelawoftheStatewheretheEAhasitsregis­
teredoffice,
—thestatutesoftheEA.
Article12
(Rulesapplicabletotheconvening,organizationand
conductofgeneralmeeting)
SubjecttothisRegulation,theconvening,organization
andconductofgeneralmeetingsshallbegovernedby
thestatutesadoptedinaccordancewiththelaws,regu­
lationsandadministrative provisionsconcerningthe
legalentitiesoftheMemberStateinwhichtheEAhas
itsregisteredofficesetoutintheAnnexhereto.Article9
(NoticeintheOfficialJournal)
MemberStatesshallensurethatanoticestatingthatan
EAhasbeenregisteredorthattheliquidationofanEA
hasbeenconcludedispublishedforinformationpur­
posesintheOfficialJournaloftheEuropeanCommuni­
ties,statingthenumber,dateandplaceofregistration
oftheEA,thedateandplaceofpublicationandthe
titleofthepublication,theaddressoftheEAanda
summaryofistsobjectsandthattheseparticularsare
forwardedtotheOfficeforOfficialPublicationsofthe
EuropeanCommunities withinonemonthofthedate
ofthepublicationintheofficialgazetteoftheMember
StateinwhichtheEAhasitsregisteredofficepursuant
toArticle8(1).
WheretheregisteredofficeoftheEAistransferredin
accordancewithArticle5anoticeshallbepublished
containingtheinformationprovidedforinthefirstpar­
agraph,togetherwiththatrelatingtothenewregistra­
tion.
Article10
(ParticularstobestatedintheEA'sdocuments)
Lettersanddocumentssenttothirdpartiesshallstate
legibly:
(a)thenameoftheEA,precededorfollowedbythe
abbreviation 'EA';
(b)theplaceoftheregisterinwhichtheEAisregis­
teredinaccordancewithArticle7(3),andthenum­
beroftheEA'sentryinthatregister;
(c)theaddressoftheEA'sregisteredoffice ;
(d)thefactthattheEAisinliquidationorunderthe
administration ofthecourtsifthatisso.Article13
(Conveningofgeneralmeeting)
1.Ageneralmeetingshallbeheldatleastoncea
year,notmorethansixmonthsaftertheendofthe
EA'sfinancialyear.
2.Generalmeetingsmaybeconvenedbytheexecu­
tivecommitteeatanytimeeitheronitsowninitiative
orattherequestofatleast25%ofthemembers;the
statutesmaysetalowerproportion .
3.Therequestforameetingshallstatethereasonsfor
conveningitandtheitemstobeincludedonthe
agenda.
4.If,followingarequestmadepursuanttoparagraph
2,thenecessarystepshavenotbeentakenwithina
month,thecompetentjudicialoradministrative auth­
orityoftheStatewheretheEA'sregisteredofficeis
situatedmayordertheconveningofageneralmeeting
orauthorizeeitherthememberswhohaverequestedit
ortheirrepresentative toconvenethemeeting.
5.Ageneralmeetingmay,duringameeting,decide
thatafurthermeetingbeconvenedandsetthedateand
theagenda.
6.Theagendaforthegeneralmeetingheldafterthe
endofthefinancialyearshallincludeatleastthe
approvaloftheannualaccountsandoftheappropria­
tionoftheprofitortreatmentoftheloss,theapproval
ofthebudgetestimates,and,ifapplicable,theapprovalChapterII
Generalmeeting
Article11
(Competence)
Thegeneralmeetingshalldecideon:
(a)mattersforwhichithassoleresponsibility under
thisRegulation ;

21.4.92 OfficialJournaloftheEuropeanCommunities NoC99/7
passedbyamajorityoftwothirdsofthevotesofthe
memberspresentorrepresented .
AMemberStatemayprovidethattheexecutivecom­
mitteeistoamendthestatuteswhereitisorderedtodo
sobyacourtoradministrative authoritywhoseauthori­
zationisrequiredforamendmentstothestatutes.
Article20
(Resolutionsaffectingtherightsofaclassofmember)
Wherearesolutionofthegeneralmeetingwouldaffect
therightsofaparticularclassofmember,itmustbe
approvedbythosemembersbyaseparatevote.
Wherethestatutesaretobeamendedinawaywhich
affectsaparticularclassofmember,thosemembers
shalldecidebyamajorityoftwothirdsofthevotes
cast.
Article21
(Actionschallengingresolutionsofthegeneralmeeting)
Decisionsofacourtorcompetentauthoritydeclaringa
resolutionofthegeneralmeetingvoidornon-existent
shallbethe-subjectofdisclosureinaccordancewith
Article8.oftheannualreportreferredtoinArticle46ofDirec­
tive78/660/EEC,tobesubmittedbytheexecutive
committee .
Article14
(Additionofitemstotheagenda)
Notlessthan25%ofthemembersoftheEA,which
proportionmaybereducedbythestatutes,may,within
tendaysofreceiptofthenoticeconveningageneral
meeting,requesttheadditionofoneormoreitemsto
theagenda.
Article15
(Attendanceandproxies)
Eachmembershallbeentitledtoattendthegeneral
meeting;hemayappointanothermembertorepresent
him.Amembermaynotrepresentmorethantwo
others.
Article16
(Righttoinformation)
AllmembersoftheEAshallhaveanequalrightof
accesstoinformation ,particularlyonaccountingmat­
ters,bothbeforeandatgeneralmeetings.
Thisinformation shallbemadeavailabletomembers
attheEA'sregisteredofficeatleastonemonthbefore
theholdingofthemeeting.
Inparticular,beforethegeneralmeetingthatfollows
theendofthefinancialyear,membersmayexamine
anyaccountingdocumentsthatmustbedrawnupin
accordancewiththenationalmeasuresadoptedpur­
suanttoDirectives78/660/EECand83/349/EEC.
Article17
(Votingrights)
Eachmembershallhaveonevote.
Article18
(Normalmajority)
Decisionsshallbetakenbyamajorityofthevotesof
thememberspresentorrepresented .
Article19
(Specialmajority)
Thegeneralmeetingshallhavesolepowertoamend
thestatutesoftheEA;anysuchresolutionshallbeChapterIII
Theexecutivecommittee
Article22
(Functionsoftheexecutivecommittee ;appointmentof
members)
1.TheexecutivecommitteeshallmanagetheEA.The
memberormembersoftheexecutivecommitteeshall
havethepowertorepresenttheEAindealingswith
thirdpartiesandinlegalproceedingsinaccordance
withthemeasuresadoptedpursuanttoDirective68/
151/EECbytheMemberStateinwhichtheEAhasits
registeredoffice.
2.Theexecutivecommitteeshallhaveatleastthree
members,withthemaximumnumberfixedbythesta­
tutes.
3.Theexecutivecommitteemaydelegatetoacom­
mitteecomposedofoneormoreofitsmembersthe
powerofmanagement .Itmayalsodelegatecertain
managementresponsibilities tooneormorepersons
notmembersoftheexecutivecommittee ;suchman­
agementresponsibilities mayberevokedatanytime.
Thestatutes,orifthestatutesaresilent,thegeneral
meeting,shalllaydowntheconditionswithinwhich
suchdelegationshalloperate.

NoC99/8 OfficialJournaloftheEuropeanCommunities 21.4.92
concerned .Therepresentative shallbesubjecttothe
sameconditionsandobligationsasifhewereperson­
allyamemberoftheboard.
2.Nopersonmaybeamemberoftheexecutivecom­
mitteenorarepresentative ofamemberwithinthe
meaningofparagraph 1,norhaveconferredonhim
powersofmanagementorrepresentation ,who:
—underthelawapplicabletohim,or
—underthelawoftheStateinwhichtheEAhasits
registeredoffice,or
—asaresultofajudicialoradministrative decision
deliveredorrecognizedinaMemberState,
isdisqualifiedfromservingontheexecutivecom­
mittee,ormanagement ,orsupervisoryboardofalegal
entity.4.Thememberormembersoftheexecutivecom­
mitteeshallbeappointedandremovedbythegeneral
meeting.
Article23
(Holdingofmeetingsandrighttoinformation)
1.Theexecutivecommitteeshallmeetatleastonce
everythreemonths,atintervalslaiddownbythesta­
tutes,todiscusstheprogressandforeseeableprospects
oftheEA'saffairs.
2.Theexecutivecommitteeshallmeettodeliberate
ontheoperationsreferredtoinArticle30.
3.Eachmemberoftheexecutivecommitteeshallbe
entitledtoexamineallreports,documentsandinfor­
mationsuppliedtothecommitteeconcerningtheactiv­
itiesoftheEA.
Article27
(Inabilitytocontinueinoffice)
ThestatutesoftheEAmayprovidefortheappoint­
mentofanalternatememberwhereamemberofthe
executivecommitteeispermanentlypreventedfrom
continuinginoffice .jThetermofofficeofthealternate
membershallexpirenolaterthantheendoftheterm
ofofficeofthememberwhomhehasreplaced.How­
ever,anewfullmembermaybeappointedatanytime.
Article28
(Rulesofprocedure)
Theexecutivecommitteemaydrawuprulesofproce­
dureundertheconditionslaiddownbythestatutesof
theEA.AnymemberoftheEAorcompetentauthority
mayconsultthoserulesofprocedureattheregistered
officeoftheEA.Article24
(Chairmanship ,callingofmeetings)
1.Theexecutivecommitteeshallelectachairman
fromamongitsmembers.
2.Thechairmanshallconveneameetingoftheexec­
utivecommitteeundertheconditionslaiddowninthe
statutes,eitheronhisowninitiativeorattherequestof
atleastonethirdofthemembers.Therequestmust
indicatethereasonsforcallingthemeeting.Ifthe
requestisnotsatisifedwithinfifteendaysthemeeting
oftheadministrative boardmaybecalledbythosewho
madetherequest.
Article25
(Termofoffice)
1.Membersoftheexecutivecommitteeshallbe
appointedforaperiodlaiddowninthestatutesnot
exceedingsixyears.
2.Membersmaybereappointedoneormoretimes
fortheperiodlaiddowninaccordancewithparagraph 1.
Article26
(Conditionsofmembership)
1.ThestatutesoftheEAmaypermitalegalentityto
beamemberoftheexecutivecommitteeprovidedthat
thelawoftheStateinwhichtheEAhasitsregistered
officedoesnotprovideotherwise.
Thatlegalentityshalldesignateanaturalpersonasits
representative toexerciseitsfunctionsontheboardArticle29
(Powerofrepresentation ;liabilityoftheEA)
1.WheretheauthoritytorepresenttheEAindealings
withthirdparties,inaccordancewithArticle22(1),is
conferredontwoormoremembers,thosepersonsshall
exercisethatauthoritycollectively .
2.However,thestatutesoftheEAmayprovidethat
theEAshallbevalidlyboundeitherbyeachofthe
membersactingindividuallyorbytwoormoreofthem
actingjointly.Suchaclausemayberelieduponagainst
thirdpartieswhereithasbeendisclosedinaccordance
withArticle7.
3.Actsperformedbymembersofthegoverningbody
oftheEAshallbindtheEAvis-a-visthirdpartieseven

21.4.92 OfficialJournaloftheEuropeanCommunities NoC99/9
makecertaincategoriesofoperationsubjecttoauthori­
zationordeliberation underthesameconditionsas
thoseapplyingtoassociationsgovernedbythelawof
thatState.wheretheactsinquestionarenotinaccordancewith
theobjectsoftheEA,providingtheydonotexceedthe
powersconferredonthembythelaworwhichthelaw
allowstobeconferredonit.
However,MemberStatesmayprovidethattheEA
shallnotbeboundwheresuchactsareoutsidethe
objectsoftheEA,ifitprovesthatthethirdpartyknew
thattheactwasoutsidethoseobjectsorcouldnotin
viewofthecircumstances havebeenunawareofit;dis­
closureofthestatutesshallnotofitselfbesufficient
proofthereof.
4.Theappointment ,terminationofofficeandparti­
cularsofthepersonswhomayrepresentanEAmustbe
disclosedinaccordancewithArticle7.Theinformation
disclosedmuststatewhetherthesepersonsareauthor­
izedtobindtheEAindividuallyorwhethertheymust
actjointly.Article31
(Rightsandobligations)
1.Withinthescopeofthefunctionsattributedto
thembythisRegulationeachofthemembersofthe
executivecommitteeshallhavethesamerightsand
obligationsastheothermembers.
2.Allmembersoftheexecutivecommitteeshallcarry
outtheirfunctionsintheinterestsoftheEA,having
regardinparticulartotheinterestsofthemembersand
theemployees .
3.Allmembersoftheexecutivecommitteeshallexer­
ciseaproperdiscretion,evenaftertheyhaveceasedto
holdoffice,inrespectofinformationofaconfidential
natureconcerningtheEA.
Article32
(Conductofbusinessintheexecutivecommittee)
1.Theexecutivecommitteeshallconductbusiness
undertheconditionsandinthemannersetoutinthe
statutesoftheEA.
Wherethesestatutesaresilent,theexecutivecommittee
shallnotconductbusinessvalidlyunlessitsmembers
wereproperlyconvenedatleastthreeweeksinadv­
ance,andatleastonethirdofitsmembersarepresent
atthediscussions .Thenoticeconveningthemeeting
mayindicateanalternativedateonwhichameetingis
tobeheldifthequorumisnotreachedonthefirstdate
indicated.Decisionsshallbetakenbymajorityofthe
memberspresentorrepresented .
2.Thechairmanshallhaveacastingvoteintheevent
ofatie.Article30
(Operationsrequiringauthorization )
1.Adecisionoftheexecutivecommitteeshallbe
requiredtoauthorizeanyofthefollowingoperations :
(a)closingortransferringalargeestablishment ora
substantialpartofsuchanestablishment ;
(b)substantiallyreducing,extendingoralteringthe
activitiesoftheEA;
(c)makingsubstantialorganizational changeswithin
theEA;
(d)establishingcooperationwithotherlegalentities
whichisbothlong-termandofimportancetothe
activitiesoftheEA,orterminatingsuchcoopera­
tion;
(e)raisingloansinrespectofoperationsinexcessofa
ceilinglaiddowninthestatutes,issuingsecurities
andassumingorguaranteeingliabilitiesofathird
party;
(f)acquiringmovableorimmovableproperty.
2.ThestatutesoftheEAmayprovidethatparagraph
1shallalsoapplytootheroperations .
3.AMemberStatemaydeterminethecategoriesof
operationreferredtoinparagraph 1forEAsregistered
initsterritoryunderthesameconditionsasthose
applyingtoassociationsgovernedbythelawofthat
State.Article33
(Civilliability)
1.Membersoftheexecutivecommitteeshallbeliable
forlossordamagesustainedbytheEAasaresultof
breachoftheobligationsattachingtotheirfunctions .
2.Wheretheexecutivecommitteeiscomposedof
morethanonemember,allthemembersshallbejointly
andseverallyliableforlossordamagesustainedbythe
EA.However,amembermayberelievedofliabilityif
hecanprovethatheisnotinbreachoftheobligations
attachingtohisfunctions.4.AMemberStatemayprovidethattheexecutive
committeeofEAsregisteredinitsterritorymayitself

NoC99/10 OfficialJournaloftheEuropeanCommunities 21.4.92
Article38
(Auditing)
TheannualaccountsoftheEA,anditsconsolidated
accountsifany,shallbeauditedbyoneormoreper­
sonsauthorizedtodosointheMemberStateinwhich
theEAhasitsregisteredofficeinaccordancewiththe
measuresadoptedinthatStatepursuanttoDirectives
84/253/EECand89/48/EEC.Thosepersonsshallalso
verifythattheannualreportisconsistentwiththe
annualaccounts,andtheconsolidatedaccountsifany,
forthesamefinancialyear.Article34
(ProceedingsonbehalfoftheEA)
1.Thegeneralmeeting,byamajorityofthevotes
cast,shalltakethedecisiontoinitiateproceedings ,in
thenameandonbehalfoftheEA,toestablishliability
pursuanttoArticle33(1).
Thegeneralmeetingshallappointaspecialrepresenta­
tivetoconducttheaction.
2.Notlessthanonefifthofthemembersmaylike­
wisedecidetoinitiateproceedingstoestablishliability
inthenameandonbehalfoftheEA.Theyshall
appointaspecialrepresentativetoconducttheaction.Article39
(Disclosureofaccounts)
Theannualaccounts,theconsolidatedaccountsifany,
dulyapproved,andtheannualreportandauditreport
shallbedisclosedinthemannerprovidedforbythe
lawoftheMemberStateinwhichtheEAhasitsregis­
teredoffice ,inaccordancewithArticle3ofDirective
68/151/EEC.Article35
(Limitationofactions)
NoproceedingsontheEA'sbehalftoestablishliability
maybeinitiatedmorethanfiveyearsaftertheactgiv­
ingrisetolossordamage.
Article40
(Audit)
Thestatutesshalllaydowntheformofauditofthe
accountsandsupervisionoftheEA.Theauditorsshall
reportontheiractivitieseachyeartothegeneralmeet­
ing.ChapterIV
Annualaccountsandconsolidatedaccountsandmeansof
financing
Article36
(Budgetestimates)
TheEAshalldrawupbudgetestimatesfortheforth­
comingfinancialyear.Article41
(Financing)
AnEAmayavailitselfofallformsoffinancingunder
themostfavourableconditionsasthoseapplyingtothe
EA'sfoundingentitiesintheStateinwhichithasits
registeredoffice .Article37
(Preparationofannualaccountsandconsolidated
accounts)
1.Forthepurposesofdrawingupitsannualaccounts
anditsconsolidatedaccountsifany,includingthe
annualreportaccompanying themandtheirauditing
andpublication,theEAshallbesubjecttothemea­
suresadoptedintheStateinwhichithasitsregistered
officepursuanttoDirectives78/660/EECand83/
349/EEC.
2.TheEAmaydrawupitsannualaccounts,andits
consolidatedaccountsifany,inecus.Inthiseventthe
basesofconversionusedtoexpressinecusthoseitems
includedintheaccountswhichareorwereoriginally
expressedinanothercurrencymustbedisclosedinthe
notestotheaccounts.ChapterV
Windingup
Article42
(Windingupbythegeneralmeeting)
1.AnEAmaybewoundupbyadecisionofthegen­
eralmeetingorderingitswindingup,takeninaccord­
ancewiththeruleslaiddowninArticle19.
However,thegeneralmeetingmaydecide,inaccord­
ancewiththesamerules,toannulthedecisiontowind

NoC99/11 21.4.92 OfficialJournaloftheEuropeanCommunities
3.Afterthecreditorshavebeenpaidinfull,thenet
assetsshallbedistributedinaccordancewiththelaw
applyingtotheEAintheStateinwhichithasitsregis­
teredofficeunlessotherwisestipulatedinthestatutes.
4.AnEAinliquidationshallcontinuetohavelegal
personalityuntiltheconclusionoftheliquidation .
5.Followingtheliquidation,thebooksandrecords
relatingtotheliquidationshallbelodgedattheregister
referredtoinArticle7(3).Anyinterestedpartymay
examinesuchbooksandrecords.up,aslongastherehasbeennodistributiononthe
basisoftheliquidation .
2.Theexecutivecommitteemustconveneageneral
meetingtotakeadecisiononthewindingupofthe
EA:
—wheretheperiodfixedinthestatuteshasexpired,
—wherethedisclosureofaccountshasnottaken
placeintheEA'slastthreefinancialyears,
—wherethenumberofmembersisbelowthemini­
mumrequiredbythisRegulationorbytheEA's
statutes,
—onanygroundslaiddowneitherinthelawrelating
tonationalassociationsoftheStateinwhichthe
EAhasitsregisteredofficeorinthestatutes.
Thegeneralmeetingshalldecide:
—eithertowinduptheEAinaccordancewithArticle18,
—or,inaccordancewiththeproceduresforamending
thestatutes,thattheEAshallcontinueitsactivi­
ties.ChapterVII
Insolvencyandsuspensionofpayments
Article45
(Insolvencyandsuspensionofpayments)
1.TheEAshallbesubjecttothelawoftheStatein
whichithasitsregisteredofficeinrespectofinsol­
vencyandsuspensionofpayments .
2.Theopeningofinsolvencyorsuspensionofpay­
mentsproceedingsshallbenotifiedbytheperson
appointedtoconducttheproceedings ,forentryinthe
registerreferredtoinArticle7(3).Theentryinthe
registershallshowthefollowing :
(a)thenatureoftheproceedings ,thedateoftheorder,
andthecourtmakingit;
(b)thedateonwhichpaymentsweresuspended,ifthe
courtorderprovidesforthis;
(c)thenameandaddressofthepersonhavingpower
toconducttheproceedings ,orofeachofthem
wheretherearemorethanone;
(d)anyotherinformationconsiderednecessary.
3.Thecourtshall,eitherofitsownmotionoron
applicationbyanyinterestedparty,orderitsdecision
tobenotedintheregisterreferredtoinArticle7(3).
4.Particularsregisteredpursuanttoparagraphs2and
3shallbepublishedinthemannerreferredtoinArticle8.Article43
(Windingupbythecourt)
Onanapplicationbyanypersonconcernedorany
competentauthority,thecourtoftheplacewherethe
EAhasitsregisteredofficemustorderittobewound
upwhereitfindsthattheregisteredofficehasbeen
transferredoutsidetheCommunity ,orthattheEA's
activitiesarebeingcarriedoncontrarytopublicpolicy
intheMemberStateinwhichtheEAhasitsregistered
officeorinbreachofArticles 1and3(1).
ThecourtmaygranttheEAaperiodoftimetorectify
thesituation.Ifitfailstodosowithinthetimeallowed
thecourtshallorderittobewoundup.
ChapterVI
Liquidation
Article44
(Liquidation)
1.ThewindingupofanEAshallentailitsliquida­
tion.
2.TheliquidationofanEAandtheconclusionofits
liquidationshallbegovernedbythelawoftheStatein
whichithasitsregisteredoffice .TITLEII
FINALPROVISIONS
Article46
(Penalties)
EachMemberStateshallspecifythepenaltiestobe
imposedinthecaseofbreachoftheprovisionsofthis

NoC99/12 OfficialJournaloftheEuropeanCommunities 21.4.92
Regulationand,whereappropriate,ofanyrelevant
nationalmeasures;thepenaltiesmustbeeffective,pro­
portionateanddissuasive .
EachMemberStateshalltakethenecessarymeasures
before1January1993andshallforthwithinformthe
Commission thereof.Article47
ThisRegulationshallenterintoforceon1January
1993.
ThisRegulationshallbebindinginitsentiretyand
directlyapplicableinallMemberStates.

NoC99/13 21.4.92 OfficialJournaloftheEuropeanCommunities
ANNEX
LegalentitiesmentionedinArticle3
—InBelgium
Not-for-profitassociationsandorganizationsrecognizedasbeingofpublicbenefitcomingunderthe
Lawof25October1919andtheLawof27June1921
—InDenmark
AssociationsandfoundationscomingundertheLawof6June1984
—InSpain
Associationsandfoundationscomingunder,respectively ,theLawof24December1964andunderArti­
cles35andfollowingoftheCivilCode
—InFrance
Not-for-profit associationscomingundertheLawof1July1901andparagraph4ofArticles21to79of
theLocalCivilCodeofAlsaceandMoselle,andfoundationscomingundertheLawof23July1987,
modifiedbytheLawof4July1990
—InGreece
AssociationsandfoundationscomingunderArticle78oftheGreekCivilCode
—InIreland
Companieslimitedbyguarantee,organizationsincorporatedbyRoyalCharterorActofParliament,
industrialandprovidentsocietiesorfriendlysocieties
—InItaly
AssociationsandfoundationscomingunderArticles14to35oftheItalianCivilCode
—InLuxembourg
Not-for-profit associationsandorganizationsrecognizedasofpublicbenefitcomingundertheLawof
21April1928
—IntheNetherlands
Associationsandfoundationscomingunder,respectively ,SectionIIandArticles286to304oftheCivil
Code
—InPortugal
AssociationsandfoundationscomingunderArticles167to194oftheCivilCode
—InGermany
AssociationsandfoundationscomingunderArticles21to88oftheCivilCode(BGB)
—IntheUnitedKingdom
Companieslimitedbyguarantee,organizations incorporated byRoyalCharterorActofParliament,
industrialandprovidentsocietiesorfriendlysocieties,andallinstitutionsestablishedforexclusively
charitablepurposes