The long-awaited Code of Companies and Associations will become a reality in 2019. Both existing and newly-established companies should begin preparing themselves.

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.

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.

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 new Belgian Company Code now explicitly states that directors must exercise their general duties with reasonable care, skill and diligence.

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.