delete The European Public Limited-Liability Company Regulations 2004
The European Public Limited-Liability Company Regulations 2004 implement Council Regulation 2157/2001/EC on the Statute for a European Company (Societas Europaea). Post-Brexit, they were amended to convert existing SEs to 'UK Societas' and provide for their governance, registration, conversion procedures, supervisory organ requirements, registrar functions, document retention, and application of relevant Companies Act 2006 provisions. The regulations establish rules for two-tier and one-tier governance systems, requirements for registers of supervisory organ members, notification duties, and penalty provisions for false statements.
These regulations are retained EU law that was inherited wholesale without democratic scrutiny. They codify the EU's unnecessarily complex Societas Europaea framework, which imposes dual governance structures, minimum membership requirements, and extensive compliance obligations that add cost with no corresponding benefit beyond what standard UK company law provides. The SE structure was an EU bureaucratic construct that has failed to deliver meaningful benefits — fewer than 50 were ever registered in the UK. Post-Brexit regulatory independence should mean deleting such EU-derived frameworks entirely and allowing companies to operate under simpler, home-grown UK company law rather than maintaining this expensive dual-system structure.