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Council Regulation 2157/2001/EC of 8 October 2001 on the Statute for a European company (SE)RecitalsTitle I General provisions (arts. 1-14)Article 1Article 2Article 3Article 4Article 5Article 6Article 7Article 8Article 9Article 10Article 11Article 12Article 13Article 14Title II Formation (arts. 15-37)Section 1 General (arts. 15-16)Article 15Article 16Section 2 Formation by merger (arts. 17-31)Article 17Article 18Article 19Article 20Article 21Article 22Article 23Article 24Article 25Article 26Article 27Article 28Article 29Article 30Article 31Section 3 Formation of a holding SE (arts. 32-34)Article 32Article 33Article 34Section 4 Formation of a subsidiary SE (arts. 35-36)Article 35Article 36Section 5 Conversion of an existing public limited-liability company into an SE (art. 37)Article 37Title III Structure of the SE (arts. 38-60)Article 38Section 1 Two-tier system (arts. 39-42)Article 39Article 40Article 41Article 42Section 2 The one-tier system (arts. 43-45)Article 43Article 44Article 45Section 3 Rules common to the one-tier and two-tier systems (arts. 46-51)Article 46Article 47Article 48Article 49Article 50Article 51Section 4 General meeting (arts. 52-60)Article 52Article 53Article 54Article 55Article 56Article 57Article 58Article 59Article 60Title IV Annual accounts and consolidated accounts (arts. 61-62)Article 61Article 62Title V Winding up, liquidation, insolvency and cessation of payments (arts. 63-66)Article 63Article 64Article 65Article 66Title VI Additional and transitional provisions (art. 67)Article 67Title VII Final provisions (arts. 68-70)Article 68Article 69Article 70Annex I Public limited-liability companies referred to in Article 2(1)Annex II Public and private limited-liability companies referred to in Article 2(2)Done at
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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 8 October 2004 - onwards
Version 2 of 2

Article 45

The administrative organ shall elect a chairman from among its members. If half of the members are appointed by employees, only a member appointed by the general meeting of shareholders may be elected chairman.

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