Articles

Additional delay for new Companies Code?

Additional delay for new Companies Code?

Additional delay for new Companies Code?

05.10.2018 BE law

The Council of State has taken a second look at the draft law and recently issued, for the second time, a rather bleak opinion about the overall quality of the draft law regarding Belgium’s new Companies Code.

The draft law regarding Belgium’s new Companies Code may have hit a new roadblock on its way to parliamentary approval.

At the request of Parliament, the Council of State has taken a second look at the draft law and recently issued, for the second time, a rather bleak opinion about the overall quality of the legislative proposal. In particular, in its opinion of 13 September 2018 (published on 26 September 2018), the Council points to a series of inconsistencies, incoherencies, inaccuracies and oversights, leading it to conclude that the entire draft law should be subject to a thorough reassessment.

However, the parliamentary machine mulls on unabated; the draft law was discussed in Committee on Monday 1 October and seems still to be headed for a vote before the end of the month.

However, moving ahead without taking into consideration the remarks of the Council of State is not without risk, in particular when it comes to its substantive criticism on to some of the more contested parts of the draft law, such as the cap on directors’ liability or the possibility to issue shares with multiple voting rights, both of which could, according to the Council of State, not pass the constitution’s non-discrimination test. To be continued.

Related news

11.04.2019 NL law
The Dutch UBO register will be introduced in January 2020

Short Reads - On 4 April 2019, a legislative proposal to implement the Dutch Ultimate Beneficial Owner (''UBO'') register (''UBO register'') was submitted to the Dutch parliament. The obligation to introduce a UBO register derives from the Fourth Anti-Money Laundering Directive as amended by the Fifth Anti-Money Laundering Directive. Approximately 1.5 million Dutch legal entities must register information on their UBOs in this register.

Read more

08.04.2019 NL law
Stibbe lanceert webtool over implementatie aandeelhoudersrechtenrichtlijn

Short Reads - Op 2 april 2019 heeft de Tweede Kamer het wetsvoorstel ter implementatie van de Herziene aandeelhoudersrechtenrichtlijn (EU) 2017/828 aangenomen. Hierbij zijn ook diverse Amendementen aangenomen in de eerder voorgestelde regeling rondom het bezoldigingsbeleid en het bezoldigingsverslag. Om u te informeren over de implementatie van de Herziene aandeelhoudersrechtenrichtlijn in Nederland hebben wij een webtool gelanceerd over dit onderwerp.

Read more

05.04.2019 NL law
Wetsvoorstel implementatie Herziene aandeelhoudersrechtenrichtlijn aangenomen door de Tweede Kamer

Short Reads - Op 2 april 2019 heeft de Tweede Kamer het wetsvoorstel ter implementatie van de Herziene aandeelhoudersrechtenrichtlijn (EU) 2017/828 aangenomen. Hierbij zijn ook diverse Amendementen aangenomen in de eerder voorgestelde regeling rondom het bezoldigingsbeleid en het bezoldigingsverslag.

Read more

Our website uses functional cookies for the functioning of the website and analytic cookies that enable us to generate aggregated visitor data. We also use other cookies, such as third party tracking cookies - please indicate whether you agree to the use of these other cookies:

Privacy – en cookieverklaring