Posted in Contract Law, Corporate Law

NEW OBLIGATION TO DISCLOSE PAYMENT PRACTICES IN THE UK

Interesting news from UK.

All companies with, at least 2 of these thresholds met on the last two balance sheet dates:

  • Turnover > £36 million
  • Balance sheet total > £18 million
  • 250+ employees on average

And all parent companies which satisfy the above and also, as a group, comply with, at least, 2 of these thresholds on the last two balance sheet dates:

  • Aggregate turnover is £36 million net (or £43.2 million gross)
  • Aggregate balance sheet total is £18 million net (or £21.6 million gross)
  • Aggregate employees are 250

Will have to report, from 6 April 2017 :

  • Descriptions of:
    • ‘standard’ payment terms ,including:
      • Contractual length of time for payment of invoices
      • Maximum contractual payment period
      • Any changes to the ‘standard’ payment terms in the reporting period and how suppliers have been notified or consulted on these changes
    • Dispute resolution process related to payment
  • Statistics on:
    • The average # of days to make payments from receipt of invoice,
    • % of payments in the reporting period within (i) 30 days or less, (ii) 31 to 60 days and (iii) 61 days or longer,
    • % of payments due in the reporting period which were not paid within agreed terms
  • Yes / No statements about:
    • the availability of supply chain finance and e-invoicing
    • existence of practices and policies to deduct sums from payments to keep the suppliers on the supplier list
    • membership with a payment code and the name of the code (if applicable)

Source

Posted in Corporate Law

Wetsvoorstel bestuur en toezicht bij verenigingen en stichtingen

Minister Van der Steur (Veiligheid en Justitie) heeft op 8 juni 2016 een wetsvoorstel ingediend tot wijziging van de Wet bestuur en toezicht.

  1. Instelling van een toezichthoudend orgaan bij de vereniging en stichting.
  2. Een monistisch bestuurssysteem (met uitvoerende en niet-uitvoerende bestuurders) bij de vereniging en stichting.
  3. Een algemene tegenstrijdig belangregeling te opnomen in Boek 2

Het wetsvoorstel kunt wel al op 1 januari 2017 in werking treden.

Source