Inventarisation of the effectiveness of the regulation concerning skimming of share price gains

Civil law and civil procedure / Takeover of a company

Inventarisation of the effectiveness of the regulation concerning skimming of share price gains

(full text only available in Dutch)

Summary

This report concerns the evaluation of the regulation which is, as per 1 January 2014, enshrined in s. 135 (7), Book 2 Dutch Civil Code (‘DCC’). This section of the DCC applies to directors of public companies and aims to prevent directors holding shares, depository receipts, or share options in the company of which they are a director, from agreeing to a takeover of the company, or any other major corporate event, out of an interest in personally realising financial gain relating to a rise in share price. The section mandates the furnishment of any gains so realised, by means of deduction of said gains from the director’s remuneration. Only securities obtained by the director by way of remuneration are within the section’s scope of application. It is in force until 1 July 2017.

Publication data

Author(s):
Huizink, J.B., Verdam, A.F., Leeuwen, B.H.A., Roo, K.H.M. de
Organization(s):
VU Amsterdam - Faculty of Law, WODC
Place of publication:
Amsterdam
Publisher:
VU Amsterdam - Faculty of law
Year of publication:
2016

Order information

Address:
Vrije Universiteit Amsterdam - Zuidas Instituut voor Financieel recht en Ondernemingsrecht (ZIFO)
Website:
http://www.rechten.vu.nl/nl/onderzoek/organisatie/onderzoeksinstituten-en-centra/vu-zifo/index.aspx