The Minister of Justice does not expect the Bill on Management and Supervision which was adopted by parliament in May 2011 to enter into force before 1 July 2012.
To clarify the maximum number of supervisory positions that a supervisory director may hold, as well as which supervisory positions do not count when adding up the number of positions remedial legislation has been submitted to parliament. The restriction on the number of supervisory positions has received a great deal of criticism. As a result, some stipulations in the remedial bill have been clarified and amended such as the following:
- when is a legal entity "large"? – when assessing whether the criteria for a large company apply, the point of departure is the figures on the balance sheet date on a consolidated basis. In addition, a transitional scheme will be introduced so that if a legal entity is "large" for a period of two consecutive years, the restriction will apply.
- void appointment of director/supervisor – the Minister has proposed an amendment under which the participation in decision-making by a director/supervisor who holds more than the number of positions permitted will not have any effect on the legal validity of the decision-making.
The Minister added that no exception will be made for temporary directors and/or supervisors appointed by the Enterprise Chamber during inquiry proceedings. Particularly for those appointments, there is a considerable chance that an appeal would be made on the time and deployment of that director and/or supervisor.
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