What changes?
If you run an association, cooperative, foundation or a mutual insurance company, in future you can choose to have a unitary board. This was already an option for private limited companies (bvs) and public limited companies (nvs).
One-tier board
A unitary board is a single board of directors, comprised of executive and non-executive directors. This is also called a one-tier board. There is no separate supervisory board. The supervisory directors are part of the board. A company has 1 board of which both management and supervisory directors are part.
There is a difference between executive and non-executive directors. Only a non-executive director can act as chairman.
For whom?
- associations
- cooperatives
- foundations
- mutual insurance companies
When?
It is not yet known when the Governance and supervision act (Wet bestuur en toezicht rechtspersonen, Wbtr) 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 (Government Gazette, in Dutch).
