As a key element of possessing European legal status, European political parties and European political foundations should have European legal personality. The acquisition of European legal personality should be subject to requirements and procedures to protect the interests of the Member State of the seat, of the applicant for European legal status (the applicant) and of any third parties concerned. In particular, any pre-existing national legal personality should be converted into European legal personality and any individual rights and obligations that have accrued to the former national legal entity should be transferred to the new European legal entity. Moreover, in order to facilitate the continuity of activity, safeguards should be put in place to prevent the Member State concerned from applying prohibitive conditions to such conversions. The Member State of the seat should be able to specify which types of national legal persons may be converted into European legal persons, and to withhold its agreement to the acquisition of European legal personality under this Regulation until adequate guarantees are provided, and in particular, adequate guarantees of the legality of the applicant’s statutes under the laws of that Member State or for the protection of creditors or holders of other rights in respect of any pre-existing national legal personality.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
