Page 171 - Секретаријат за законодавство

entirely implemented. With a view that the Republic of Macedonia illus-
trates its readiness in the systematic harmonisation of its national legisla-
tion for implementation of this Regulation when it accesses the European
Union, European Company Law has been adopted, which in its essence
is a legal act to regulate the issues that in the Regulation are left to be
additionally regulated by national acts of the Member States as well as
to regulate the issues for which the Regulation left possibility to be dif-
ferently regulated by the Member States in their national acts (different
time limits, procedures and etc.). To that end, subject to regulation of this
Law are and may be only issues that the Regulation itself permits to be
additionally regulated or regulated differently by the Member States.

Whereupon the technique of regulation of those issues may also mean
making reference only to the national law that stipulates the company
issues, which have been established and function in accordance with the
legal system of the Republic of Macedonia. While the European Compa-
ny Law is intended for ensuring implementation of the said regulation,
which in the Republic of Macedonia will be directly applicable as soon
as it accesses the European Union, the Þnal provisions provide for de-
ferred application of the entire Law meaning that it will begin to apply
upon the accession of the Republic of Macedonia in the European Union.

5. TRANSPOSITION OF PROVISIONS OF DIRECTIVES IN
THE NATIONAL LEGAL SYSTEM

A directive is primarily an instrument for approximation of legal sys-
tems of the Member States in particular areas, and taking into consid-
eration the nature of their different legal systems and legal instruments
a high level of harmonisation is achieved in particular areas. The pur-
pose of such harmonisation is to ensure equal rights and obligations
to all natural and legal persons in EU. As a result, directives are not
directly applicable i.e. their provisions are to be initially transposed in
the legal system of a Member State for the purpose of their application.
It should be highlighted that many of the directives include provisions
that particularly refer to the tasks and functions of the EU institutions.
Such provisions, for instance, determine manners of amending of di-
rectives, decision-making procedures in committees, and obligation
imposed on the Commission to supervise implementation of the provi-

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