Legislative proposal for the management and supervision of legal entities has been adopted. What is going to change?

Legal news

On 28 January 2020, the proposal for the Management and Supervision of Legal Entities Act was adopted by the Dutch House of Representatives. Even though the law still needs to be dealt with by the Dutch Senate, the law may possibly take effect this year. The legislative proposal is aimed particularly at improving the statutory framework (and consequently increasing the quality) of the management and supervision of associations, cooperatives, mutual insurance associations and foundations. This concerns a far-reaching introduction of uniform rules for the management and supervision of all legal entities, based on existing legislation for private companies with limited liability (BV) and public limited companies (NV).