In the letter of 20 December 2022, Minister Adriaansens (EZK) informed the House of Representatives about the latest developments in the field of the Corporate Governance Code (hereinafter: the Code).
The updated Corporate Governance Code 2021
The updated Corporate Governance Code of companies has been drawn up after extensive consultation with and input from stakeholders, such as large companies, trade unions and other interested parties. The new Corporate Governance Code is an update of the Code from 2016. The update mainly concerns long-term value creation, diversity and the role of shareholders. In addition, parties and stakeholders can find each other less often due to more juridification. It has therefore been decided, pending the first results, not to appoint any new Commissioners as of 1 January 2023.
The House of Representatives will send a response to the updated Code and the Monitoring Report for the 2021 financial year in the first quarter of 2023. The government also intends to enshrine the updated Code in law.
The updated new Code requires companies to:
Corporate Governance Code compliance in 2021
According to the published monitoring report on compliance with the Code in 2021, compliance with the new Code has been found to be good.
In case of questions, please feel free to contact NAZALI (firstname.lastname@example.org).
NAZALI TAX & LEGAL