Expected changes in legislation

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The Civil Code is currently changing in such a way that the system changes from a capital protection system to a directors liability system. This will further improve the investment climate of the Netherlands.

The changes aim to make the BV legislation more flexible. The changes are expected to be included in the law as per 1^st July 2012. The main expected changes relate to:
■ Minimum capital requirements at incorporation will be lowered or become nil;
■ The shareholders’ rights improve as they can give instructions to the Board of Directors;
■ The one share one vote system is changed so that the company is able to create variable voting rights;
■ The one tier system is incorporated in legislation.

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