Search result based on key: Flexible Corporate law
1 May 2019: The new Belgian Company Code
What is the new Belgian Companies and Associations Code and how did this reform come about? The objective is clear: to modernize Belgian company and association law by simplifying it
Dissolution and liquidation in one notary deed
The new BCC allows for the dissolution and liquidation of a company in one notary deed and makes some adjustments to the attendance requirement for the general meeting.
Directors’ liability: The new Belgian Company Code will lead to more flexibility
The new Belgian Company Code now explicitly states that directors must exercise their general duties with reasonable care, skill and diligence.
Governance structure of a public limited liability company (NV/SA)
With the new Belgian Company Code the composition of the NV board is more flexible with the creation of 3 governance regimes: monistic governance, sole director and dual governance.
The cooperative company
The cooperative company (CC) is a flexible form of company with variable capital, enabling its shareholders to enter and exit on the basis of the corporate capital.
Reduction in the number of company forms
In light of the simplification of the corporate landscape, the Belgian Company Code (BCC) introduces a drastic reduction in the number of different company forms.
Daily management: extended powers and applicability to the BV/SRL and CV/SC
The board of directors of a public limited liability company (NV/SA) has the possibility to delegate the daily management to one or more directors or to other persons.
Are you prepared for the new Company Code?
The long-awaited Code of Companies and Associations will become a reality in 2019. Both existing and newly-established companies should begin preparing themselves.
What has changed and who is impacted?
The Belgian corporate landscape is about to get revamped with changes set to impact the legal, tax and accounting aspects of all Belgian legal entities.