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Initial consultation on relaxation of private limited liability
On 10 February 2005, the Ministry of Economic Affairs, announced consultations on a working draft regarding the simplification and relaxation of the rules on private limited liability companies. The official draft consists of a draft bill and associated explanatory memorandum.
The consultations will be split in three. In the first round, the issues will be “organizational structure and powers” and “shares and depositary receipts”. The second round will address the issues of the “closed nature of such companies” and “dispute resolution”, while the third round will deal with “capital protection” and “other issues”. The second and third rounds of consultation will be held in the course of 2005. In the end, the outcome of the three rounds will be included in one bill and will be submitted to the Council of State for its recommendations. The published working draft is a more detailed draft of a report published on 6 May 2004, which was prepared by a group of experts, chaired by Prof. H.J. de Kluiver.
In 2004, Harm Uittien and Hugo Reumkens of Van Doorne’s Corporate Practice Group contributed to a letter on behalf of the Nederlandse Vereniging van Participatiemaatschappijen (Dutch Venture Capital Association) with comments on the report from the De Kluiver Committee. This letter was sent on 17 November 2004 to the Dutch Minister of Justice, Donner, and the Junior Minister for Economic Affairs,
Ms. Van Gennip.
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