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Did you know that...

... you can be a member of the administrative body in no more than one capacity?

Rani Ingang Rani Ingang

Under the old Companies Code it was possible to have a seat on a company’s collegiate administrative body in various capacities, for example in one’s own name and as a permanent representative of one or more other directors who were legal entities.

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In practice, this was regularly done in order to have the specified minimum number of directors, or in practice to ensure multiple voting rights for a particular person within the collegiate administrative body.

Under the new Companies and Associations Code, a person may not sit on the relevant administrative body in his or her own name and as permanent representative of an entity that is another director.

In other words, a person may only be designated as a member of an administrative body in one capacity.

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At companies where appointments are currently still combined, this practice will have to be stopped as soon as possible.

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