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  • December 04, 2018

While the new Code of Companies and Associations (CCA) substantially reforms the management structure of the SA/NV, with the option of establishing a two-tier system of governance comprised of a management board and a supervisory board, this possibility is not extended to the SRL/BV.

Indeed, the CCA only slightly changes the management structure of the SRL/BV. Thus, management of an SRL/BV may take different forms: one or more directors, natural or legal persons, that may or may not form a collective body, with the possibility for the latter to co-opt members, as is the case with the SA/NV, in order to ensure, insofar as possible, continuity of governance.

There is one new feature, however, specifically the possibility for the administrative organ to delegate daily management, in keeping with what is provided for the SA/NV. Practice indeed revealed a need, in certain private limited-liability companies, for a daily management body, so that it appeared advisable to simply introduce this possibility.

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