In September 2007, a commission was established upon the initiative of Professor Paul Krüger Andersen, Aarhus School of Business, University of Aarhus, Denmark, and of ILF Executive Director Professor Dr. Dres. h.c. Theodor Baums and held its first meeting in Aarhus, Denmark, to deliberate on its goal of drafting a "European Model Company Act" (EMCA). Each of the 27 EU member states was represented by a company law expert in the drafting commission.
This Commission was chaired by Professor Paul Krüger Andersen and regularly met in Aarhus, Luxembourg, Vienna, Amsterdam, Copenhagen and Frankfurt am Main. The drafting commission consulted experts in specialized topics for assistance as such questions arise. The EMCA project was not sponsored by the European Commission, although the two bodies have agreed to exchanges of information, and the European Commission dispatched personnel to represent it at working group meetings discussing the model company act. The goal was to draft model rules for a corporation that national legislatures are free to adopt in whole or in part. The project was thought as an alternative and supplement to the existing EU instruments for the convergence of company law.
The next EMCA meeting will take place on September 10 and 11, 2015 in Vienna, Austria, where the final version of the European Model Company Act will be discussed.