- Professional News
- 01 March 2011
Phase 2 of the new Danish Companies Act to come into force on 1 March 2011
On 1 March 2011, phase 2 of the implementation of the new Danish Companies Act (Act no. 470 of 12 June 2009 with subsequent amendments) will be initiated and all the provisions of the Companies Act will apply as from that date except for the provisions on a public register of shareholders to be established with the Danish Commerce and Companies Agency.
Public limited companies must, however, be aware of their obligation to keep an in-house list including the information which, at a later date, must appear from the public register of shareholders and to send such list to any third party upon request.
The most important news to be introduced in phase 2 is the possibility of self-financing and outstanding share capital, which means that only part of the subscribed capital must be paid up.
As a consequence of this introduction, the remaining provisions of the enabling act to the Companies Act (Act no. 516 of 12 June 2009 on amendments to the Danish Financial Statements Act, the Act on various other acts) will also come into force on 1 March 2011. Also in this case, however, the provisions on the public register of shareholders will not come into force until at a later date.
For more information contact Monica Reib