The UE system of interconnection of registers following the adoption of Directive 2012/17/EU of the European Parliament and of the Council of 13 June 2012

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This paper presents an analysis and evaluation of Directive 2012/17/EU of the European Parliament and of the Council of 13 June 2012 and its implementation into Polish law, including its effect on domestic companies. Directive 2012/17/EU aims to create a legal framework for the interconnection of business registers operating in the EU Member States. Within this framework, the interconnection of business registers serves to improve the exchange of information among different commercial registers of companies. These registers provide information about companies established in the European Economic Area and their foreign branches and facilitate operations of cross-border mergers. The key element of the Directive is a ‘system of interconnection of registers’ which will consist of central, commercial registers of the Member States, the European central platform and the European e-Justice portal. However, the most important role will be still played by national registers, and the remaining elements of the system will only provide tools for interconnection of registers. Thus, changes introduced by Directive 2012/17/EU do not lead to any significant alterations within the European area. This does not mean, however, that the Polish legislator has not a vested interest in the implementation of this Directive. An appropriate amendment of the law may increase the competitiveness of the Polish company law system and companies incorporated pursuant to this law.