THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 50 thereof,

Having regard to the proposal from the European Commission,

After transmission of the draft legislative act to the national parliaments,

Having regard to the opinion of the European Economic and Social Committee [OJ C 248, 25.8.2011, p. 118.],

Acting in accordance with the ordinary legislative procedure [Position of the European Parliament of 14 February 2012 (not yet published in the Official Journal) and decision of the Council of 10 May 2012.],

Whereas:

(1) Businesses are increasingly expanding beyond national borders, using the opportunities offered by the internal market. Cross-border groups, as well as many restructuring operations, such as mergers and divisions, involve companies from different Member States. Consequently, there is an increasing demand for access to information on companies in a cross-border context. However, official information on companies is not always readily available on a cross-border basis.