Changes to rules on management and supervision of Dutch BVs and Dutch NVs
With immediate effect as from 1 January 2013, the rules on management and supervision of Dutch BVs and Dutch NVs has been changed, among other things providing for:
- new rules dealing with conflicts of interest;
- a statutory basis for the creation of a one-tier board;
- statutory restrictions on the number of supervisory positions (also applicable to certain Dutch foundations);
- ‘comply or explain’ type provisions to ensure a balanced composition of management boards and supervisory boards in terms of participation by men and women;
- the relationship between a managing director and a listed company no longer qualifying as an employment agreement; and
- amendment of the rules on binding nominations for appointment of managing directors and supervisory directors.
To read more, see our Newsletter on this.