The Minister of Justice has indicated that the target date for entry into force of this Bill is 1 July 2012. The starting point is that the new provisions will immediately apply from that date. The Implementation Act contains some special transitional provisions setting deadlines with regard to the amendment of articles relating to the shareholders' registers, rights of depositary receipt holders to attend meetings, and managing directors' absence or inability to act. The Chambers of Commerce are in charge of providing information on the new private company rules.
The Minister has commented on the new provisions in the Bill that require board approval for resolutions to pay dividends and has stated that this will not result in greater liability on the part of directors. The new provisions are based on existing case law.
The Minister of Justice has indicated that he intends to make a start this year on modernisation of the law relating to public companies (NVs). As part of this, he will review the current distinction between private companies (BVs), non-listed NVs and listed NVs. The review will also address the subject of bearer shares.
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