Netherlands:
Proposed Ban On Bonuses Extended To Apply To State-Aided Groups
02 February 2012
De Brauw Blackstone Westbroek N.V.
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The Minister of Finance has published an amendment to the bill
introducing a ban on bonuses at state-aided financial institutions.
Under the bill, directors of these institutions may not receive
variable remuneration and their fixed remuneration may not be
changed while the institution is receiving state aid. Under the new
amendment this ban also applies where the aid is provided to a
group which itself cannot be qualified as a financial enterprise.
It makes no difference whether the aid is provided to the group as
a whole or to one or more specific parts of the group. If the group
company heading the group has its seat abroad, the ban will be
directed at the group company heading the Dutch activities of the
group.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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