Equal rules for governance and supervision for all legal entities

What changes?

For all legal entities the same rules will apply with regard to governance and supervision. These rule are already in place for public limited companies (nv’s) and private limited companies (bv’s). In future they will applicable to the management and supervisors of associations and foundations as well. It concerns rules that have to do with:

• performing of duties by managers and supervisors
• liability in case of negligence in performance

There will also be a broader grounds for dismissal for dysfunctional foundation mangers or supervisors.

For whom?

• foundations
• associations
• private limited companies (bv’s)
• public limited companies (nv’s)
• cooperatives
• mutual insurance companies

When?

It is not yet known when this change in law will come into effect.

Please note: The effective date of this measure is not yet final. Entry into force is subject to its passing through the upper and lower houses of parliament or proclamation of the Order in Council (Algemene Maatregel van Bestuur, AMvB) or ministerial decree and publication in the Staatsblad or Staatscourant (in Dutch).