umraniye escort pendik escort
maderba.com
implant
olabahis
canli poker siteleri meritslot oleybet giris adresi betgaranti
escort antalya
istanbul escort
sirinevler escort
antalya eskort bayan
brazzers
sikis
bodrum escort
Short Reads

Luxembourg adopts measures to facilitate holding of meetings in companies and other legal entities during “Covid-19”

Luxembourg adopts measures to facilitate holding of meetings in compa

Luxembourg adopts measures to facilitate holding of meetings in companies and other legal entities during “Covid-19”

23.03.2020 LU law

Luxembourg adopted a Grand-Ducal Regulation on March 20th, 2020 introducing emergency measures relating to the holding of meetings in companies and other legal entities. The relevant provisions, which are effective immediately, pertain to general meetings of shareholders and to other deliberating bodies of companies.

Alternatives to physical general meetings

Notwithstanding any provisions to the contrary in a company’s articles of association, a company may, regardless of the number of participants, convene a general meeting without being physically present, and require its shareholders or partners and other participants at the meeting to participate and to exercise their rights exclusively:

  • by voting in writing from a remote location or in electronic form provided that the full text of the resolution(s) or decision(s) to be taken have been published or communicated to them;
  • through an agent appointed by the company; or
  • by video conference or other means of telecommunication allowing their identification.

In the event a shareholder or partner of a listed entity has appointed an agent to represent it at a general meeting other than as stated under item 2 above, such agent may only participate at such meeting in the manner provided for above.

Shareholders or partners who participate by such means will be deemed to be present for the computation of the quorum and the majority requirements at such meeting.

The above provisions apply mutatis mutandis to meetings of bondholders.

Additional flexibility for meetings of other corporate bodies

Notwithstanding any provision to the contrary in its articles of association, the other corporate bodies of any company, such as the board of directors of a public limited liability company or the board of managers of a private limited liability company may hold meetings, without being physically present:

  • by written circular resolutions; or
  • by video conference or other means of telecommunication allowing the identification of the members of the corporate body participating in the meeting.

The members of these corporate bodies who participate by such means are deemed to be present for the computation of the quorum and the majority requirements at such meeting.

Additional flexibility in connection with the approval and filing of annual accounts

Notwithstanding any provision to the contrary in its articles of association, any company is authorized to convene its annual general meeting for the later of the following dates: (i) a date within a period of six months after the end of its financial year, or (ii) a date within a period ending June 30th, 2020.

The company is empowered to take such decision for any meeting convened for June 30th, 2020 at the latest. Any company having already convened a meeting and taking such decision, must proceed to the publication of such decision and, where applicable, notify its shareholders or partners or other participants in the same manner such shareholders or partners or other participants have been convened to this meeting or by publication on its website at the latest on the third business day prior to the meeting.

This measure is to be read in conjunction with the additional administrative period of four months that is granted to companies to file their financial data with the Luxembourg Register of Commerce and Companies at the standard rate of EUR 19 excl. VAT (excluding registration fees and the CNC administrative tax). Increased costs and penalties for late filing of financial data are exceptionally suspended until November 30th, 2020, provided that the filing request is made with a delay of up to four months maximum. For example, the filing of annual accounts for a company whose financial year ended on December 31st, 2019, will be subject, until November 30th, 2020, to an administrative fee of EUR 19 excl. VAT as opposed to a fee of up to EUR 200. A EUR 500 fee would still apply for late filing after four months.

Team

Related news

08.04.2021 NL law
De Wet zorgplicht kinderarbeid en de opkomst van human rights due diligence; van vrijwilligheid naar verplichting

Articles - Op 13 november 2019 is de Wet zorgplicht kinderarbeid (“WZK”) gepubliceerd in het Staatsblad. Na inwerkingtreding zal de WZK ondernemingen die aan Nederlandse eindgebruikers goederen verkopen of diensten leveren verplichten om gepaste zorgvuldigheid te betrachten en te voorkomen dat die goederen en/of diensten met behulp van kinderarbeid tot stand zijn gekomen.

Read more

07.04.2021 NL law
Digitale transitie in de financiële sector

Articles - De coronacrisis heeft het belang van digitale financiële dienstverlening extra onderstreept. Om de digitale transitie van de financiële sector meer ruimte te geven heeft de Europese Commissie afgelopen jaar de Digital Finance Package aangenomen. Roderik Vrolijk en Lisanne Baks schreven een artikel in het Tijdschrift financieel recht in de praktijk en geven daarin een overzicht van de voorstellen die de Commissie in dit pakket heeft geformuleerd.

Read more

08.04.2021 NL law
Recente NOW-jurisprudentie

Short Reads - In de afgelopen periode zijn er weer uitspraken over de NOW gepubliceerd die van belang kunnen zijn voor werkgevers. Zo zijn er uitspraken gedaan over de vaststelling van de loonsom en de keuzes die al bij de aanvraag voor de subsidieverlening moeten worden gemaakt. Daarnaast laat een recente uitspraak zien dat een civiele vordering inzake het mislopen van NOW-steun niet slaagt.

Read more