The New Albanian Company Law a Serious Effort for the Implementation of Europian Standards of Law on Commercial Company

Abstract

Albanian Company law has changed profoundly in recent time. These changes have not merely been limited to technical issues, but amount to a revolution in core areas of the Albanian company law framework. To a large extent, these changes were driven by the Stabilisation and Association Agreement between Albanian and The European Union, aiming inter alia at the approximation of Albania’s existing legislation to the Community acquis. Given the objective to bring Albanian law in line with European Union requirements on company law, it is not a big surprise that the legislator assisted by international experts essentially decided to design a new company law “from scratch” rather than modifying the existing Albanian legal framework. After all, the peviously on companies followed a very different approach than most of the Member States’systems which served as the basis for the Community legislation in this area. Rewriting a whole company law system undoubtedly is a very ambitious task, as each country’s legal and economic environment has its very own specifics; additionally, company law always interects intensively with different areas of legislation (e.g. accounting, tax and securities laws).