ABOLITION OF BEARER SHARES IN BONAIRE
Legislative amendment as of 1 July 2019
With effect from 1 July 2019, Book 2 of the Civil Code of the BES islands (Bonaire, St. Eustatius and Saba) has been partially amended. Bearer shares will be completely abolished; in the Netherlands, where the law has also been amended, an exception has been made for “book entry” (girale) bearer shares, unlike on the BES islands.
The consequence of the amendment of the law is that only registered shares can be held in a public limited liability company (NV). The NV is under an obligation to convert bearer shares into registered shares …
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