L 126/40 Official Journal of the European Union 19.5.2005 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 28 April 2005 establishing a group of non-governmental experts on corporate governance and company law (2005/380/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Whereas: (1) The Commission Action Plan on Modernising Company Law and Enhancing Corporate Governance in the European Union (') adopted in May 2003 identified a series of actions that are required in order to modernise, complete and simplify the regulatory framework for company law and corporate governance. (2)  That Action Plan recognises the importance of expert and public consultation as an integral part of the devel- opment of company law and corporate governance at Community level. (3)  The group of non-governmental experts on corporate governance and company law should therefore be estab- lished to serve as a body for reflection, debate and advice to the Commission in the field of corporate governance and company law, in particular in connection with the measures foreseen in the Action Plan; it is therefore appropriate to provide for the presence in this group of particularly well-qualified persons, active in the business and the academic communities or the civil society, capable of bringing their specific knowledge of corporate governance and company law at Community level. (4  The group of non-governmental experts on corporate governance and company law should draw up its own Rules of Procedure and fully respect the role and the prerogatives of the institutions, () COM(2003) 284 final. HAS DECIDED AS FOLLOWS: Article 1 A group of non-governmental experts on corporate governance and company law in the Community (hereinafter referred to as ‘the Group’) is established. Atrticle 2 The role of the Group shall be to provide technical advice to the Commission on the Commission’s initiatives in the field of corporate governance and company law at the Commission’s request. The chairman of the Group may suggest that the Commission consults the Group on any related matter. Atrticle 3 The Group shall comprise a maximum of 20 members, from the business and the academic communities or the civil society, whose experience and competence regarding corporate governance and company law issues are widely recognised at Community level. The members of the Group shall be appointed by the Commission. Appointment shall be in a personal capacity. Members of the Group shall provide advice to the Commission independently of any outside instruction. The list of members is reproduced in the Annex. Atrticle 4 The term of office of members of the Group shall be three years. It shall be renewable. After the expiry of the three-year period, members of the Group shall remain in office until they are replaced or their appointments are renewed. In the event of resignation or death of a member of the Group during the period of appointment the Commission shall appoint a new member of the Group in accordance with Article 3.