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  • 17-06-2019

The Code of Companies and Associations (“CCA”) introduces a range of new provisions, including detailed rules on the financial plan to be prepared in order to incorporate a public limited-liability company (naamloze vennootschap/société anonyme) (NV/SA), a private limited-liability company (besloten vennootschap/société à responsabilité limitée) (BV/SRL) and a cooperative company (coöperatieve vennootschap/société cooperative) (CV/SC).

These rules were introduced in order to strengthen the obligation to draw up a financial plan and confirm that the purpose of a financial plan is twofold, namely (i) to prevent the incorporation of companies without adequate forethought and (ii) to protect the founders, as the courts use the financial plan to assess their liability based the situation and information available upon incorporation of the company.

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