The long-awaited Code of Companies and Associations will become a reality in 2019. Both existing and newly-established companies should begin preparing themselves.
New Company Code
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.
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.
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.
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.
The (I)NPO and foundation: incorporation and publication
The new Belgian Company Code (BCC) has aligned the rules applicable to a non-profit organization and foundation to those applicable to companies.