Essay Sample on EU Laws & Regulations: A Guide for Business Owners

Introduction

There exist various legislative acts that prove relevant to business owners and operators in countries that subscribe to the European Union. The company owners and other business persons need to understand the legislative to run their activities smoothly without disruptions from the authorities.

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The economic and monetary unions integrate and unite European Union economies through fiscal and economic policies, common currency, and conventional monetary policies (Fact Sheets on the European Union | European Parliament, 2017). The legislation delivers jobs, social fairness, financial stability, and growth. There exist laws that govern the protection of interest of shareholders and their rights. These rules help small and large microfinance enterprises across the world. The rules include:

Company Operations in More Than One Country

This law introduces the concept of a disclosure requirement for foreign branches of corporations. The companies that set up offices in other European Union countries remain under protection on the prevailing system of taxation. These structures remain applicable in cases of the parent company and their subsidiaries in different states that constitute neutral taxes from the perspective of competition (Fact Sheets on the European Union | European Parliament, 2017). The directives on taking over bids by companies will also ensure the regulation of the companies by setting minimum requirements for takeover bids or changes of control. These rules aim to protect minority shareholders from exploitation, interested parties, and employees.

Company Reconstruction Policies

The shareholders and third parties deserve a similar guarantee during the reconstruction of a company popularly referred to as divisions and mergers of a company. The directive of European Union legislation policies that covers the merging and dividing of companies enures the protection of all the parties affected by the process (Fact Sheets on the European Union | European Parliament, 2017). The union operates on the tenth law of cross border mergers between companies with capital share.

Capital and Disclosure Requirements for Setting up Companies

This legislative concept has experienced amendments on several occasions. The main aim of the regulation entails giving the public more straightforward and faster access to information on companies and deals (Fact Sheets on the European Union | European Parliament, 2017). The legislation also allows the validity of obligations agreed upon by the company and its employees. There also exist rules on modification and maintenance of capital and the minimum content requirement for public liability of companies.

Guarantees on Financial Situations of Companies

The mandate of this legislative act entails ensuring the provision of accounting documents equivalent in all member states that constitutes directives required by member states. This concept gives an accurate and fair opinion of the company's liability, asset, and financial position on the loss and profit of companies. The directives aim at improving the reliability of the companies and help to resolve conflicts arising from the jurisdiction of the companies involved (Fact Sheets on the European Union | European Parliament, 2017). The primary aim of the legislative process entails the avoidance of judicial proceedings or the transfer of assets from one member country to another.

The Extent to Which National Court Can Rely on European Union Legislation

To begin with, the national courts can employ the European Union of fundamental human rights by borrowing from the general principles of the union laws (Wodak and Boukala, 2015). These principles exist as undocumented concepts that help to control the rule of law among the member states. The national courts use these principles to base their arguments on whether the act of secondary legislation remains valid or invalid. These charters apply in various institutions, offices, bodies, and agencies mandated the role of ensuring that each human gets and respects human rights.

Second, the national courts adhere to regulations and decisions set by the European Union council by ensuring the correct application of federal authorities (Wodak and Boukala, 2015). These directives constitute deadlines by the union, and this concept requires the incorporation of the provision in the national legislation of all the European Union laws. The commission posses the mandate of helping the member states incorrect implementation and prosecution of the offenders in their courtesy.

Lastly, the Charter of international human rights interprets restricting or adversely affecting human life situations across the globe. These situations include the fight for freedom and recognizable in various fields of application by the commissions (Ferraro and Carmona, 2015). There also exist other international bodies that act as the regulators of the laws of multiple states by drawing examples and arguments from the European Union legislative aspects.

Legal Changes That Will Result From Britain's Exit in the European Union

The exit of Britain from the European Union will significantly impact different sectors that range from the world economy to national and international laws (Wodak and Boukala, 2015). The change of rules brought by the exit of Britain from the union will result in harsh conditions for the dwellers and visitors in the country.

To begin with, the businesses operating within the united kingdoms will need to reconsider their priorities or work implications under the current scenarios. The exit of Britain in the European Union will contribute to will need to vacate the country after June 2021 or apply freshly to remain in the country under the European Union settlement scheme (McMenemy, 2020). These legislative measures will affect the work laws in the land.

Second, the nation will also make changes to the employment laws and also receive an exemption from participating in the operations of the European council. The changes will affect the immigrants working and living in the country (McMenemy, 2020). The government will also, on several occasions, amend or revoke employment rules without necessary input from Europe. The protection from unfair dismissal and discrimination will also face a challenge with the exit of Britain from the European Union. Europe will fail to feel the effect of the automatic expiration of the transition period and will also miss opportunities for incoming legislative duties.

In principle, Parliament could roll out future administrative improvements to work law; however, these are probably going to be constrained given the responsibilities given by the Government (McMenemy, 2020). In case of a no-bargain Brexit, the items of common sense of haggling any future exchange courses of action with the EU.

Regarding case law, under the 2020 Withdrawal Act, in principle, in any event, the Supreme Court could reconsider and conceivably topple precepts got from European case law. Much-disputed issues, for example, occasion pay could, subsequently, hypothetically, at any rate, be re-opened (McMenemy, 2020). In any case, once more, considering the consolations given about the proceeded with the security of business rights, any critical move back would be astonishing.

Conclusion

In conclusion, the involved parties in the business industry need to remain aware of the European Union and the legislation that affect business operations. The exit of Britain from the union will lead to adverse effects on European society and the member countries both economically and in terms of diplomacy.

References

Europarl.europa.eu. 2017. Fact Sheets On The European Union | European Parliament. [online] Available at: http://www.europarl.europa.eu/factsheets/en/home

Ferraro, F., and Carmona, J., 2015. Fundamental Rights in the European Union: The role of the Charter after the Lisbon Treaty. European Parliamentary Research Service, PE, 554. [Online] Available at https://fra.europa.eu/sites/default/files/fra_uploads/fra-2018-charter-guidance_en.pdf

McMenemy, S., 2020. Brexit Is Here! What Employers Need To Know About The UK'S Departure From The EU - Ogletree Deakins. [online] Ogletree Deakins. Available at: https://ogletree.com/insights/2020-02-03/brexit-is-here-what-employers-need-to-know-about-the-uks-departure-from-the-eu

Wodak, R., and Boukala, S., 2015. European identities and the revival of nationalism in the European Union: A historical discourse approach. Journal of language and politics, 14(1), pp.87-109. [Online] Available at https://doi.org/10.1075/jlp.14.1.05wod