Creation of a Central Register of Director Bans (JustBan)

Each the Legal and the Insolvency Courts have the authority to have administrators banned from holding a managing place in companies (to behave as director, exterior auditor, day-to-day supervisor, member of an govt committee, board of administrators or supervisory board, liquidator of a authorized entity or consultant inside an organization or affiliation) ought to they:

Have dedicated a number of of the intense breaches listed underneath articles 1, 1bis, 2 and 3quater of the Royal Decree n°22 of 24 October 1934, together with a number of felony offences associated to insolvency (offences dedicated with the purpose of delaying chapter), forgery, theft, extortion, embezzlement or breach of belief, swindling, and many others.
Have dedicated a gross and clearly established misconduct, having contributed to the prevalence of the chapter of the corporate, which they had been managing.

Up to now, the dearth of follow-up to convictions sadly allowed many individuals to defy the director bans imposed on them with impunity.

To treatment this, a legislation handed on 4 Might 2023, which got here into pressure on 1 June 2023, now creates a Central Register of Director Bans.

That is an automatic database which can document, retailer and modify information concerning director ban convictions.

The aim of this register is to allow the general public authorities in addition to third events to confirm whether or not administrators, managers, exterior auditors, day-to-day managers, members of an govt committee or board of administrators or monitoring committee or liquidators of a authorized entity, representatives for department actions or candidates for the aforementioned positions are usually not topic to a ban on exercising these positions.

The brand new Central Register of Director Bans should be consulted when organising corporations or appointing members of boards of administrators. Corporations and associations will likely be required to attract up and signal a further declaration certifying that no administration ban has been issued by a Belgian or overseas court docket.

For additional info on this topic, please don’t hesitate to contact Mr Frédéric PAQUE.