Hem

Legislative proposal concerning the disclosure of non-financial information by certain large public-interest entities approved by the Upper House of the Dutch parliament

On 27 September 2016 the proposed legislation implementing EU Directive 2014/95/EU on the disclosure of non-financial information by certain large public-interest entities the Dutch Civil Code was approved by the Upper Chamber of the Dutch Parliament.

Public-interest entities (such as listed companies, banks and insurance companies) qualifying as “large” and having an average of more than 500 employees are subject to the new requirements. "Large" means that at least two of the three following criteria are met: (i) a balance sheet total of more than EUR 17.5 million, (ii) a net turnover of more than EUR 35 million and (iii) an average of more than 250 employees.

Entities that meet two out of three if the above mentioned criteria need to include in their management reports a non-financial information statement. This non-financial information statement should at least reflect how the entity deals with environmental, social and employee matters, respect for human rights and anti-corruption and bribery matters. Large listed companies must also include a description of their diversity policy in their management reports.

Although the date on which the new law will enter into force has not yet been determined, it is expected that the above mentioned statements must be included by public-interest entities in their management reports for financial years commencing on or after 1 January 2017.

Ni kan ta kontakt med:

Back