{"id":9825,"date":"2022-12-15T11:17:01","date_gmt":"2022-12-15T10:17:01","guid":{"rendered":"https:\/\/www.everestnotariaat.com\/cross-border-conversion-merger-and-demerger\/"},"modified":"2026-03-10T13:50:49","modified_gmt":"2026-03-10T13:50:49","slug":"cross-border-conversion-merger-and-demerger","status":"publish","type":"post","link":"https:\/\/everestnotariaat.com\/en\/cross-border-conversion-merger-and-demerger\/","title":{"rendered":"Cross-border conversion, merger and demerger"},"content":{"rendered":"<div class=\"et_d4_element et_pb_section et_pb_section_0  et_pb_css_mix_blend_mode et_section_regular et_block_section\" >\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_d4_element et_pb_row et_pb_row_0  et_pb_css_mix_blend_mode et_block_row\">\n\t\t\t\t<div class=\"et_d4_element et_pb_column_4_4 et_pb_column et_pb_column_0  et_pb_css_mix_blend_mode et-last-child et_block_column\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_module et_d4_element et_pb_text et_pb_text_0  et_pb_text_align_left et_pb_bg_layout_light\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_text_inner\"><p><em>On December 5 2022, the Bill Implementing the Directive on cross-border conversions, mergers and demergers (hereinafter: Bill) was submitted by the House of Representatives. The Bill must ensure the transformation of the Directive (EU) 2019\/2121 (hereinafter: Directive) into Dutch legislation. By this Directive, the European Commission wants to simplify the cross-border conversion, merger and demerger of capital companies (N.V. and B.V.) and promote the freedom of establishment within the EU. This requires some changes in Book 2 of the Dutch Civil Code and the Financial Supervision Act (Wft).<\/em><\/p><\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div><div class=\"et_d4_element et_pb_row et_pb_row_1  et_pb_css_mix_blend_mode et_block_row\">\n\t\t\t\t<div class=\"et_d4_element et_pb_column_1_2 et_pb_column et_pb_column_1  et_pb_css_mix_blend_mode et_block_column\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_module et_d4_element et_pb_image et_pb_image_0\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<span class=\"et_pb_image_wrap \"><img decoding=\"async\" src=\"https:\/\/www.everestnotariaat.com\/wp-content\/uploads\/2022\/03\/foto-blog-grensoverschrijdende-constucties.jpg\" alt=\"\" title=\"foto blog - grensoverschrijdende constucties\" \/><\/span>\n\t\t\t<\/div><div class=\"et_pb_module et_d4_element et_pb_text et_pb_text_1  et_pb_text_align_left et_pb_bg_layout_light\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_text_inner\"><p>The Directive prescribes the conditions that must be met before a cross-border operation can take place and contains procedural rules. The Directive also provides harmonized rules for the protection of shareholders, creditors and employees. See our earlier <span style=\"text-decoration: underline;\"><span style=\"color: #3366ff; text-decoration: underline;\"><a href=\"https:\/\/www.everestnotariaat.com\/en\/cross-border-conversions-mergers-and-divisions\/\" style=\"color: #3366ff; text-decoration: underline;\">blog<\/a><\/span><\/span> for more information about the Direction.<\/p>\n<p><span style=\"color: #ff9900;\"><strong>Role of the notary; the fraud test<\/strong><\/span><br \/>The Directive provides for a regime in which a competent authority supervises the cross-border operation and checks on illegality. In the Netherlands, the Bill appoints the notary as competent authority to supervise the process and carry out a fraud test.<\/p><\/div>\n\t\t\t<\/div>\n\t\t\t<\/div><div class=\"et_d4_element et_pb_column_1_2 et_pb_column et_pb_column_2  et_pb_css_mix_blend_mode et-last-child et_block_column\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_module et_d4_element et_pb_text et_pb_text_2  et_pb_text_align_left et_pb_bg_layout_light\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_text_inner\"><p>This fraud test means that the notary issues a statement approving the decision-making of the operation and submits a closing statement to formally complete the operation. The notary will not issue the statement when he finds out that the cross-border operation has been set up for abusive or fraudulent purposes leading to the evasion or circumvention of Union or national law, or for criminal purposes.<\/p>\n<p>According to the explanatory notes to the Bill, the fraud test is in line with the current role of the notary as gatekeeper.<\/p>\n<p>The Bill does not explicitly state that the fraud test may involve a fiscal aspect, while this was referred in the preamble to the Directive. It is conceivable that the parties involved may find a cross-border operation desirable precisely for tax reasons. Therefore it is important to investigate to what extent and in what way a Dutch authority (Such as the tax authority) also tests on tax fraud.<\/p>\n<p>On December 21 2022, the treatment of this Bill will be discussed in the procedural meeting of the Committee for Justice and Security of the House of Representatives. The latest date by which the Directive must be transformed into Dutch law is January 31 2023. Of course we will keep you informed about the developments through our blog.<\/p><\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bill cross-border conversion, merger and demerger to the House of Representatives<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"slim_seo":{"title":"Cross-border conversion, merger and demerger - Everest Notariaat","description":"Bill cross-border conversion, merger and demerger to the House of Representatives"},"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12],"tags":[],"class_list":["post-9825","post","type-post","status-publish","format-standard","hentry","category-geen-onderdeel-van-een-categorie"],"_links":{"self":[{"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/posts\/9825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/comments?post=9825"}],"version-history":[{"count":0,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/posts\/9825\/revisions"}],"wp:attachment":[{"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/media?parent=9825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/categories?post=9825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/tags?post=9825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}