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