The Code of Companies & Associations was approved Thursday night, 28 February,  by the House of Representatives.

The legislative process took longer than initially expected but it now appears that

• the new Code will enter into force on 1 May 2019 for new companies;
• the new rules will apply to existing companies, associations and foundations as from 1 January 2020; and
• there will be a lengthy transition period of several years to allow companies, associations and foundations to adapt to the new rules.