eleventh council direct decemb disclosur requir respect branch open member state type compani govern law state eec council european commun regard treati establish european econom commun articl thereof regard propos commiss cooper european parliament regard opinion econom social committe order facilit exercis freedom establish respect compani cover articl treati articl gener programm elimin restrict freedom establish requir coordin safeguard requir compani firm member state protect interest member hitherto coordin effect respect disclosur adopt direct eec cover compani share capit amend act access continu field account fourth direct eec annual account type compani amend act access seventh direct eec consolid account amend act access eighth direct eec person respons carri statutori audit account document direct appli compani cover branch open branch creation subsidiari possibl open compani exercis establish member state respect branch lack coordin disclosur rise dispar protect sharehold parti compani oper member state open branch oper creat subsidiari field differ law member state interfer exercis establish elimin differ order safeguard inter alia exercis ensur protect person deal compani intermediari branch measur respect disclosur requir member state branch situat respect econom social influenc branch compar subsidiari compani public interest disclosur compani branch effect disclosur make procedur institut compani share capit commun disclosur relat rang import document particular amend thereto disclosur except power represent legal form wind compani insolv proceed subject confin inform branch refer regist compani branch part exist commun rule inform cover compani regist nation provis respect disclosur account document relat branch longer justifi coordin nation law respect draw audit disclosur compani account document suffici disclos regist branch account document audit disclos compani letter order form branch give inform letter order form compani state regist branch enter ensur purpos direct fulli realiz avoid discrimin basi compani countri origin direct cover branch open compani govern law member countri set legal form compar compani direct eec appli branch appli provis appli branch compani govern law member state direct refer appli compani member countri direct affect disclosur requir branch provis employ law worker right inform tax law statist purpos adopt direct section branch compani member state articl document particular relat branch open member state compani govern law member state direct eec appli disclos pursuant law member state branch accord articl direct disclosur requir respect branch differ respect compani branch disclosur requir preced regard transact carri branch articl compulsori disclosur provid articl cover document particular address branch activ branch regist compani file mention articl council direct eec registr number regist legal form compani branch compani appoint termin offic particular person author repres compani deal parti legal proceed compani organ constitut pursuant law member organ accord disclosur compani provid articl direct eec perman repres compani activ branch indic extent power wind compani appoint liquid particular power termin liquid accord disclosur compani provid articl direct eec insolv proceed arrang composit analog proceed compani subject account document accord articl closur branch member state branch open provid disclosur refer articl signatur person refer paragraph articl instrument constitut memorandum articl associ contain separ instrument accord articl direct eec amend document attest regist refer paragraph articl relat exist compani indic secur compani properti situat member state provid disclosur relat valid secur articl compulsori disclosur provid articl limit account document compani drawn audit disclos pursuant law member state compani govern accord direct eec eec eec articl member state branch open stipul document refer articl articl publish offici languag commun translat document certifi articl compani open branch member state disclosur refer articl articl made regist branch compani choic case compulsori disclosur branch cover particular branch regist disclosur made number branch regist articl member state prescrib letter order form branch state addit inform prescrib articl direct eec regist file respect branch number branch regist section ii branch compani countri articl document particular branch open member state compani govern law member state legal form compar type compani direct eec appli disclos accord law member state branch laid articl direct articl appli articl compulsori disclosur provid articl cover document particular address branch activ branch law state compani govern law regist compani enter registr number compani regist instrument constitut memorandum articl associ contain separ instrument amend document legal form compani princip place busi object annual amount subscrib capit particular document refer subparagraph compani branch compani appoint termin offic particular person author repres compani deal parti legal proceed compani organ constitut pursuant law member organ perman repres compani activ branch extent power person author repres compani state act jointli wind compani appoint liquid particular power termin liquid insolv proceed arrang composit analog proceed compani subject account document accord articl closur branch articl compulsori disclosur provid articl appli account document compani drawn audit disclos pursuant law state govern compani drawn accord manner equival direct eec eec member state requir account document relat activ branch drawn disclos articl appli articl member state prescrib letter order form branch state regist file respect branch number branch regist law state compani govern requir entri regist regist compani enter registr number compani regist state section iii indic branch compani annual report articl subparagraph ad articl direct eec exist branch compani section iv transit final provis articl member state provid penalti event failur disclos matter set articl omiss letter order form compulsori particular provid articl articl member state determin carri disclosur formal provid direct articl articl appli branch open credit institut financi institut cover direct eec pend subsequ coordin member state appli articl branch open insur compani articl articl direct eec articl direct eec delet articl member state adopt law regul administr provis compli direct januari forthwith inform commiss thereof member state stipul provis refer paragraph appli januari regard account document appli time annual account financi year begin januari member state commun commiss text provis nation law adopt field cover direct articl contact committe set pursuant articl direct eec facilit prejudic articl treati harmon applic direct regular meet deal practic problem aris connect applic advis commiss addit amend direct articl direct address member state brussel decemb council 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