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LEGAL NEWS - What happens in 2015 – from a legal perspective

Logo LEAD - Legal Advice Denmark
27. March 2015

2015 has brought and will bring a wide range of new Danish regulations, which can have significant impact for companies and business development in Denmark.

The Public Register of Shareholders

Danish public limited companies, private limited companies, limited partnership companies, and entrepreneurial companies are obligated to register information on shareholders holding five percent or more on the Company’s share capital or voting right in the Public Register of Shareholders. The information includes name, address and registration number of the shareholder, the date of acquisition and the shareholders total holding in the company.
The Public Register of Shareholders does not replace the companies’ non-public general register of shareholders, why companies’ are still obligated to register all shareholders in the general register of shareholders as well as in the Public Register of Shareholders.

The Public Register of Shareholders opened for registration on 15 December 2014 and the information will be accessible to the public from 15 June 2015. Therefore, registration for companies existing on 15 December 2014 must be made before the register opens to the public on 15 June 2014. Companies established after 15 December 2014 or changes in the share capital of existing companies must be registered within two week of establishment.

Updated online registration system at the Danish Business Authority

The Danish Business Authority administrates the online registration system for companies, www.virk.dk, which among others includes the Public Register of Shareholders.

Virk.dk has been updated and its services extended, why most registrations can now be made online. The new system went online on March 11 2015. Up to now it was not possible to use the online system, when a foreign parent company wanted to establish a Danish subsidiary. With the system update it is now possible that foreign companies can establish Danish entities through the online system – which is both faster and cheaper.

Consolidation Act on Prohibition of Discrimination on the Labour Market

Currently employment contracts can regulate automatic termination of employment, when the employee turns 70 years old. However, an amendment to the Act mains that from 1 January 2016 employment contracts can no longer validly contain such provisions.

Employment contracts that include provisions regarding termination of employment on the grounds of age are thereby not valid from 1 January 2016, and therefore must be updated according to the new regulations and correspond with the Employment Act.

The Danish Public Procurement Act

A new Danish Public Procurement Act is currently undergoing hearing. Currently the public procurement rules in Denmark include the EU public procurement directives and the Danish Tender Act as well as the Danish Enforcement Act. The EU public procurement directives apply by way of executive order whereby the Directive is applied directly in Danish law via minor adjustments. The Danish Tender Act applies to contracting authorities' procurement of works, goods and services. The new Act shall thus implement the new EU rules and shall guarantee a more efficient and expedient procedure and a reduction of transaction costs for the buyers and suppliers. The Minister for Business and Growth presented the new public procurement law as legislative proposal in the parliament Mid March. It is expected to enter into force in October.

If you have questions to the above, you are very welcome to contact Lawyer Alexandra Huber at LEAD - Legal Advice Denmark, phone 44 45 50 00.





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