DIGITAL PROCESSES IN EU COMPANY REGULATIONS AND THEIR IMPLICATIONS FOR REGISTRY PRACTICES
DIGITAL PROCESSES IN EU COMPANY REGULATIONS AND THEIR IMPLICATIONS FOR REGISTRY PRACTICES

Summary/Abstract: This paper examines the impact of European Union law on digitalisation, considering both itsfoundations and effects. Some of these aspects are addressed in Directive (EU) 2017/1132 ofthe European Parliament and of the Council on certain aspects of company law, as well as inthe Directive of the European Parliament and of the Council amending Directives 2009/102/ECand (EU) 2017/1132 as regards further expanding and upgrading the use of digital toolsand processes in company law. As a consequence of these legislative developments, severalissues have since emerged. Examples include difficulties related to the online registrationof companies introduced by Member States following the implementation of the Directive,and discrepancies between the information contained in national central business registersinterconnected within the Business Registers Interconnection System (BRIS). In this context,the paper analyses the implications of the Court of Justice of the European Union’s judgmentin the Manni case and explains why the ‘right to be forgotten’ may not apply in this area.Another issue arising from digitalisation concerns trust services, including the work of notariesand their relationship with Regulation (EU) No 910/2014 of the European Parliament and ofthe Council on electronic identification and trust services for electronic transactions in theinternal market (the eIDAS Regulation), as well as Regulation (EU) 2024/1183 of the EuropeanParliament and of the Council of 11 April 2024 amending Regulation (EU) No 910/2014 asregards establishing the European Digital Identity Framework. On this occasion, the paperalso discusses why the eIDAS Regulation may not necessarily have a harmonising effect across the various legal systems within the EU. Finally, in light of the Fifth Anti-Money LaunderingDirective of the European Union, the paper considers the concept of beneficial ownership, itsnotarial determination, and its relevance to the prevention of money laundering.

• Details
• Contents