Subsection 2: Responsibilities.

The competence of the Committee of the European Company shall be limited to matters concerning the European Company itself or any subsidiary or any establishment situated in another Member State, or exceeding the powers of the decision-making bodies in a single Member State.

The European Company Committee meets at least once a year. The annual meeting focuses in particular on 1° The economic and financial situation of the European Company, its subsidiaries and establishments; 2° The likely development of the business; 3° Production and sales; 4° The employment situation and probable trends; 5° Investments ; 6° Substantial changes in organisation, the introduction of new working methods or new production processes; 7° Transfers of…

When exceptional circumstances arise which considerably affect the interests of the employees, in particular in the event of relocation, closure of an undertaking or establishment or collective redundancies, the European Company Committee or, if it so decides, the Board, shall be convened as of right, if it so requests, by the manager of the European Company in order to be informed and consulted on the measures considerably affecting the interests…

The manager of the European Company who decides to launch a takeover bid for a company may inform the European Company Committee only after the bid has been made public. In this case, he should convene a meeting of the committee within eight days of the publication of the bid to provide it with precise written information on the content of the bid and its likely impact on employment.