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.
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