This thesis intends to analyze and clarify the relevant market within air passenger transport. Further the thesis intends to investigate if there is any difference in air passenger transport in accordance to more general business. The definition of the relevant market is an essential step in order to establish a breach under European competition law. The relevant market includes the relevant product market and the relevant geographic market. The fundamental issue in the relevant product market is whether products are considered to be substitutable and can constitute the same market. The Commission has set a notice which includes methods and criterias and serves as guidelines to courts and companies to define the relevant market. The notice is however not binding for courts. The CJ have developed implementation of the criterias which it tends to refer to even if it is a different branch, however a case-by-case based definition is needed. The definition of the relevant market is based on three main criterias: demand substitutability, supply substitutability and potential competition. Even though the supply substitutability seems not be implemented in a further extension in more general branches, it seems to be of greater importance when defining the relevant market within air passenger transport. The air passenger transport has also established a test called base of origin and base of destination which includes an analysis of price, travel frequencies, comfort of the journey, transfer time to terminals and differences in the qualities and quantities in airports.  However according to air passenger transport, travel sequences seems to be the criteria that courts focus most on.

De lagar som i Sverige reglerar avtal är till stor del dispositiva. Detta innebär att parterna själva kan besluta om hur avtalet ska utformas och vad det ska innehålla. För att förenkla processen vid avtalsförfattande använder sig många bolag av standardavtal. Det finns flera olika former av standardavtal och bland dessa former finns den typ av standardkontrakt som närmast kan beskrivas som ett standardförslag. Detta standardförslag används vid avtalsförhandlingar och i majoriteten av dessa avtalsförhandlingar är det den svagare parten som måste förhålla sig till den starkare partens avtal. Denna uppsats syftar till att utreda vilka konsekvenserna blir av att utgå från motpartens avtal i jämfört med att utgå från det egna avtalet. Uppsatsen har funnit att den påverkan valet av avtal har ger olika stor påverkan beroende på vad som eftersträvas. Om det ses ur ett vinstmaximeringsperspektiv spelar det ingen större roll vilket avtal som används. Under vissa avtalspunkter kan en direkt påverkan på vinstmöjligheterna ursköljas men på det stora hela är skillnaderna ganska små. Om man istället ser det ur ett perspektiv där de mål som eftersträvas inte gäller vinst utan istället behandlar andra skäl, som att ge ett professionellt intryck eller att skapa en trygghet för ägarna, har det en stor betydelse vilket avtal som används.

There are no set guidelines on how to interpret the criteria’s in the adjustment rule within the meaning of the companies act. The criteria’s are not discussed in literature and the Swedish case law in this area is very limited. A reason for the limited use of the adjustment rule is the slow and very costly process, which does not grantee the outcome of the case. Because of the lack of case law regarding damages and the adjustment rule it has not been up for discussion. The responsibility of a CEO or member of the board is a very central part in a working company. The rules for damages must therefore work as an incitement for a member of the board or CEO to show care and make decisions the very best of interest of the company. All types of companies involve some form of risk taking. The rules within the companies act shall not discourage the board or CEO to make well calculated decisions that in the end can become a loss-making deal. The adjustment rule in the companies act is written in very general terms. This is because of the large type of situations that can occur in a company. Sweden’s and the rest of Scandinavia’s legal systems are very much alike. To try and understand how the adjustment rule is supposed to be processed; a comparison is going to be made with another Nordic country’s equivalent rule, in this case Denmark. This can shed more light on how to interpret the adjustment rule within the meaning of the companies act, and if there are any differences between the two countries in the usage of this rule. If there are any differences, is the difference more beneficial seen to the person who has caused the damage? There are only minor differences between the two countries and the usage of the rule. However these differences can be seen at more beneficial to the person who has inflicted the damage, when using Denmark’s adjustment rule.

If an enterprise lacks capital it might be in desperate need of capital contribution to avoid liquidation. One solution to restore the economic balance, is to construct a contract in which the enterprise ensures that capital contribution will be made on given conditions. The purpose with this thesis is to analyze different ways to establish such agreements. A capital contribution can be triggered by a call-off from the board of directors to the contributor, or automatically, when the shareholders’ equity falls below 50 percent of the registered capital stock. In the literature, the latter is represented as the most adaptable. A consequence of capital contribution, that automatically triggers when shareholders’ equity falls below the critical point, is that it enables for enterprises to stay at a low economic level. This is because the automatically triggered contribution keeps the economic level just as high as necessary. Thus, the enterprise does not have to perform measures that otherwise would be required, according to the Swedish Companies Act. From that follows, that such agreements enables a possibility for the board of directors to avoid legal responsibility to set up a control balance sheet, controlled by an independent auditor. This indisputably reduces the protection for creditors, which are intended to be protected by the rules in the Swedish Companies Act. Therefore, in my opinion, such contractual terms for capital contributions should not be acceptable. When a board of directors has to trigger the contribution by a call-off, they are instead obliged to define the amount before the contribution can be made. Consequently, preventing inactivity within the board of directors, which must be frequently updated with the financial situation. Accordingly these terms of contract in an agreement of capital contribution, would be more in line with the regulations in the Swedish Companies Act.

Capital accession to a company, without subscription of shares, is exercised when a company is facing a forced liquidation, or when the company wants to obtain capital by a less regulated process than conventional methods of raising capital. The main reason for raising capital in this way is that the accession does not add to a company’s liability in the balance sheet, therefore creating a surplus in the balance sheet. Thus, avoiding a forced liquidation caused by a share capital deficit below the required amount for going concern. However, the contributor of a capital accession of this kind, almost certainly wants reimbursement for his deed when not receiving shares. This can be achieved by a range of agreements between the contributor and the shareholders. The question is what arrangements can be done to constitute a sufficient security for the contributor. And further, in which way can these be combined? The answer depends on many factors, amongst others, whether there is a possibility to alter the Articles of Association, the shareholders’ financial solidity, and if the risk with pledging of shares is accepted. Ultimately, the decision is an agreement between the contributor and the shareholders, upon the conditions in the given situation. Therefore, there cannot be a single solution to every situation.

It has become increasingly simple for companies to offer its employees shares in the form of incentive or option plans to acquire.  Companies motivate incentive plans with employee buy-outs that it will lead to higher involvement of work. The offers are often associated with disposal restrictions to the employee such as not immediately dispose of shares or that the employees will have to remain of employment within a certain timeframe. The problems with disposal restrictions are that it makes it difficult to determine the point of taxation. When shares deemed acquired at the time of share subscription the benefit will be taxable as income from service and the increase in value income from capital. When shares are deemed to be acquired only after cessation of disposal restrictions this will result in that the benefit is taxed only once. After the Supreme Administrative Court rulings in 3167-09 and 3168-09, it is now obvious that the acquisition is deemed to occur at the time of acquisition. The problem is not yet solved because the constant development of the security market needs to be considered. The area will be a subject to further revisions because of the technological development and internationalization of the area.

According to Swedish tax legislation, investment funds are taxed differently depending on if the are Swedish or foreign. The difference between the investment funds lies within the taxation of received dividends and the opportunity to shift the liability of tax of received dividends on to the funds shareholders. This measure is only available to Swedish funds. The question in this thesis is whether this difference is discriminatory against foreign investors and therefore constitutes a forbidden restriction against the free movement of capital stated in article 63 EUF Treaty. The European Court of Justice (ECJ) has given several preliminary rulings on this type of legislation and its compatibility with the principle of free movement of capital. It is not compatible with the free movement according to the court. The reason is that the consequence of the legislation is less attractive for foreign investment funds because the taxation on received dividends, which leads to less dividends to shareholders. This national measure is therefore a forbidden restriction against the free movement of capital. The Swedish legislation has not been under such ruling from the ECJ, but it can be tested based on ECJ other rulings on the matter. The Swedish legislation has been tested in the domestic county administrative court, (Länsrätten i Dalarnas Län), who concluded that the legislation was discriminatory. They based their reasoning on ECJ case law. However it has been stated within the treaty and from ECJ case law, that measures which has the result of a restriction can be justified as long the national rule is not discriminatory. The national rule on received dividends is discriminatory as it hinders investment funds to invest capital were they like and prevents Swedish companies from obtaining foreign capital. Based on ECJ reasoning on the matter of tax upon received dividends for foreign investment funds and the aim of free movement of capital the Swedish legislation constitute a restriction against the free movement of capital. This restriction is discriminatory. On those grounds the legislation is no longer compatible with EU-law and a change in the legislation of taxation on received dividends is necessary in order to obtain the requirements EU has on the member states.

This thesis examines the legal duties of directors of UK public companies in the light of the 'stakeholder' approach to the firm. It considers the theory that directors are not simply agents of shareholders, but have a duty to take into consideration and, where appropriate, to balance the interests of several constituencies. Examples of suggested stakeholders include employees, customers, suppliers and creditors, as well as the local community and the natural environment. If this broad view of public company responsibility is warranted, the role of the law in securing a 'stakeholder' style of management needs to be examined, and this study attempts that task. To this end, empirical research was conducted via interviews with public company directors and secretaries from a range of public companies of different sizes operating in many business sectors to investigate: • the extent to which at present they view their role as requiring assessment and inclusion of the interests of stakeholders • the manner in which such assessment and inclusion is actually carried out • the impact which a statutory formulation of duties to incorporate stakeholder interests would or might have on decisionmaking in practice • the effect of board structure on corporate decisionmaking. The effect of 'stakeholder orientation' of company directors on the economic performance and social impact of UK public companies was considered. The DTI's Company Law Review Steering Group has referred to the distinction between 'Enlightened Shareholder Value' and the 'Pluralist' approach. This thesis further reviews those arguments and seeks to set them in their commercial context. It is highly probable that there will be a new UK Companies Act following the next General Election. This thesis suggests a new statutory statement of directors' duties and considers the impact which such statutory wording might have. If directors' legal duties were to be reformulated, that change would needs to buttressed by a mechanism to protect stakeholder expectations, in court as a last resort. This thesis argues that the most promising form for such stakeholder remedies is that of the current 'unfair prejudice' action. If the UK is to avoid being left behind internationally in its system of corporate regulation, it needs to take its European Union obligations and the laws of other Member States into account. It is argued that the UK can find much to learn from the continental European traditions. The conclusion of the thesis focuses on the Company Law Review and its potential economic impact. It is argued that UK company law should address the rights of all stakeholders if it is to be ‘modern’ and ‘competitive’.

As countries caught on to the benefits of limited liability corporate structures, it became necessary to protect pecuniary and non- pecuniary rights of shareholders` from the unlawful and harmful actions of the company‘s management and supervisory organs. Differences in national legislations regulating work of companies undoubtedly restrict both the natural tendencies balancing the internal market as well as the protection of the shareholders` rights. To avoid this dischord it is necessary to pay close attention to the company law harmonisation at the EC level. The purpose of law harmonisation is not only to make it easier to exercise the right of establishment found in the EC Treaty, but also to diminish the risk for violation of shareholders`, creditors` and third parties` rights caused by different company law regimes in each of the member states. The company law harmonisation programme in the EC was mostly carried out by passing secondary legislation- the directives. Regulations were passed when there was a need not only to harmonise national legislation, but also to establish transnational business entities. This paper analyses the provisions of company law directives and Societas Europaea regulation related to the protection of shareholders` rights. This paper also highlights the fact that during recent years, the reform of EC company law preceded non-binding legislation passed by the European Commission. The European Commission supports simplification and modernisation... [to full text]

Die Konferenz „International Conference for the 10th Anniversary of the Institute of Comparative Law” hat am 24. Mai 2013 in Szeged stattgefunden. Im Rahmen der viersprachigen Konferenz haben mehr als dreißig Teilnehmer ihre Forschungsergebnisse präsentiert. Der Essay von Zoltán Péteri blickt auf die Disziplin aus der Perspektive der Wissenschaftsgeschichte. Katalin Kelemen und Balázs Fekete gehen in ihrem Aufsatz der Frage nach, welchen Weg die Versuche der Klassifikation der Rechtssysteme von Osteuropa in der späten Phase der Umbrüche der 1980/90er Jahren genommen haben. Die historische Betrachtungsweise mit Bezug auf Rechtsgeschichte und Rechtsvergleichung spiegelt sich auch in anderen Essays wider, vor allem in den Aufsätzen von Szilvia Bató, Magdolna Gedeon und Béla Szabó P. sowie auch in den Aufsätzen von Péter Mezei und Tünde Szűcs. Attila Badó analysiert die Rechtsvergleichung aus der Sicht des Rechts, der Soziologie und der Politikwissenschaft anhand von Untersuchungen über das Sanktionsystem der Richter in den USA. Diese politikwissenschaftliche Seite wird auch in den Aufsätzen über die aktuellen Fragen der europäischen Integration von Carine Guemar und Laureline Congnard betont. Eine Reihe von Aufsätzen behandeln die konventionelle normative Komparatistik auf dem Gebiet des Verfassungsrechts (Jordane Arlettaz und Péter Kruzslicz), Gesellschaftsrechts (Kitti Bakos-Kovács), Urheberrechts (Dóra Hajdú) und Steuerrechts (Judit Jacsó). Daneben bilden eine weitere Gruppe die Aufsätze von János Bóka und Erzsébet Csatlós, die die Verwendung der vergleichenden Methode in der Praxis der Rechtsprechung untersuchen. Die Rechtsvergleichung ist eine sich dynamisch entwickelnde Disziplin. Die Konferenz und dieser Band dienen nicht nur der Würdigung der bisherigen Arbeit des Instituts für Rechtsvergleichung, sondern zeigen gleichzeitig neue Ziele auf. Die wichtigsten Grundsätze bleiben aber fest verankert auch in einem sich stets verändernden rechtlichen und geistigen Umfeld. Das Motto des Instituts lautet „instruere et docere omnes qui edoceri desiderant“ – „alle lehren, die lernen wollen.“ Auch in den folgenden Jahrzehnten werden uns der Wille des Lernens und Lehrens, die Freiheit der Forschung sowie die Übertragung und Weiterentwicklung der ungarischen wie globalen Rechtskultur leiten.