The new Code of Companies and Associations limits the possibility for the majority shareholder of certain companies to force minority shareholders to sell their securities to him. The majority shareholder still has a few months left to launch a squeeze-out bid under the old Companies Code.
Imagine… Your business is expanding rapidly and you recently took over the activities of a major competitor on the European market. A short time later, your company is abruptly confronted in multiple European countries with actions for damages due to competition law infringements. These infringements were supposedly committed by the company you took over not long ago.
Following the publication of a royal decree dated 12 July 2019, the notification obligation for cyberincidents has become applicable to all organisations that offer "essential services", with effect from 18 July 2019. This is an important first step in implementing the NIS Act to safeguard the cybersecurity of our society and economy.
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On 19 July 2019, the Federal Public Service of Finance published a new version of its FAQ on the register of Ultimate Beneficial Owners (UBO Register).
After the recent introduction of the new Code of Companies and Associations, the new Belgian Corporate Governance Code 2020 was presented on 9 May 2019. The 2020 Code contains corporate governance rules for Belgian listed companies.
Het federaal parlement heeft op 28 februari 2019 het nieuwe Wetboek van Vennootschappen en Verenigingen goedgekeurd, kortweg het WVV. Het nieuwe wetboek zal vanaf 1 mei 2019 stapsgewijze in werking treden.
In previous news flashes we already informed you about the implementation of the UBO register, the extension of the first registration deadline and a first update of the frequently asked questions. After a first update on 2 April 2019, the Federal Public Service Finance (FPSF) published a new version of the frequently asked questions (FAQ) on 19 July 2019.
As the GDPR's implementation fades further from the rear view mirror, factoring data protection into a range of business activities, including in M&A, is the new normal.
In 2017, the legislator introduced the UBO Register: a central register containing data regarding the natural persons underlying Belgian companies and other legal entities.
Vanaf 1 januari 2020 geldt een wettelijk verbod voor vennootschappen, in de zin van het Wetboek van Vennootschappen en Verenigingen van 23 maart 2019, om een mandaat met een publiek karakter op te nemen. Als gevolg daarvan kan een bestuurder, vanaf voornoemde datum, niet langer zetelen inde bestuursorganen van een overheidsvennootschap, -vereniging of -instelling middels een (management)vennootschap.
