Law on the amendment of company law, annual accounting law and different laws

(The introduction of rules on target figures and policies for the gender composition of the executive executive body and of reporting on this subject)

We, by God's grace, the Queen of the Danes, do our thing.

The parliament has adopted the following law, and we know that the following law has been approved by Parliament's consent :

§ 1

In the company law, cf. Law Order no. 322 of 11. April 2011, as amended by Section 1 of law no. 477 of 30. In May 2012, the following changes are made :

1. After paragraph 139 is inserted in Chapter 7 :

" Meals and policies of the underrepresented sex

§ 139 a. In a governmental limited company, companies that have capital shares, debt instruments or other securities admitted to trade in a regulated market in an EU/EEA country, and in large capital companies, cf. paragraph 2, must

1) the head of the executive body shall set out the target figures for the proportion of the under-represented sex in the executive executive and

2) the central executive body shall compile a policy to increase the proportion of the underrepresented sex on the other management levels of the capital undertaking, cf. however, paragraph 1 3-6.

Paragraph 2. Large capital undertakings are companies that exceed two of the following criteria for 2 consecus for each other following financial years :

1) A balancing sum of 143 million. kr.,

2) a net turnover of 286 million. DKK and

3) an average number of full-time workers of 250.

Paragraph 3. In the case of parent companies producing group accounts, it is sufficient to set the target figures and draw up a policy, cf. paragraph 1, for the group as a whole.

Paragraph 4. A subsidiary that is part of a group cannot fail to set out the target figures and formulate a policy, cf. paragraph 1 if the parent company sets out the target figures and draws up a policy for the overall group.

Paragraph 5. When measuring the target number, cf. paragraph 1, no. 1, public limited liability companies shall also be subject to section 11 (4). Two, on the equality of women and men.

Paragraph 6. In the case of capital undertakings which have employed fewer than 50 employees in the last financial year, no policy may be deviated to increase the proportion of the underrepresented sex in their other management levels, cf. paragraph 1, no. TWO. "

2. I Section 367 (3). ONE, ONE. pkt., "138 and 139," to : " 138 and 139, section 139 a, paragraph. 1, no. 1, "

§ 2

In the law of certain business operators, cf. Law Order no. 559 of 19. In May 2010, as amended by Section 1 of law no. 616 of 14. June 2011, the following changes are made :

1. I Section 2 (2). THREE, TWO. pkt., is inserted after ' § 10 16 ` : ' and 18 (a `).

2. After section 18, pasted into Chapter 5 :

" § 18 a. In companies that have ownership, debt instruments or other securities admitted to trade in a regulated market in an EU/EEA country, and in large companies, cf. paragraph 2, must

1) the head of the executive body shall set out the target figures for the proportion of the under-represented sex in the executive executive and

2) the central executive body shall draw up a policy to increase the proportion of the underrepresented gender on the other management levels of the company, cf. however, paragraph 1 3-5.

Paragraph 2. Large companies are companies that exceed two of the following criteria for two consecus for each other following financial years :

1) A balancing sum of 143 million. kr.,

2) a net turnover of 286 million. DKK and

3) an average number of full-time workers of 250.

Paragraph 3. In the case of parent undertakings producing group accounts, it is sufficient to set the target figures and draw up a policy, cf. paragraph 1, for the group as a whole.

Paragraph 4. A subsidiary that is part of a group cannot fail to set out the target figures and formulate a policy, cf. paragraph 1 if the parent company sets out the target figures and draws up a policy for the overall group.

Paragraph 5. Undertakings that have employed fewer than 50 employees in the last financial year may not draw up a policy to increase the proportion of the underrepresented sex in their other management levels, cf. paragraph 1, no. TWO. "

3. I Section 23, paragraph 1. 1, "§ 15 c" to : " § 15 c, § 18 a, paragraph 1. 1, no. 1 '.

§ 3

In the law of business funds, cf. Law Order no. 560 of 19. In May 2010, the following changes are made :

1. I § 25 inserted after paragraph 1. 3 as new slices :

" Stop. 4. In funds, which have debt instruments or other securities admitted to trade in a regulated market in an EU/EEA country, and in large funds, cf. paragraph 5, the Board shall :

1) set target figures for the proportion of the under-represented gender on the management board and

2) develop a policy to increase the proportion of the sub-represented gender on the other management levels of the Funds, cf. however, paragraph 1 Six and seven.

Paragraph 5. Large funds are funds that exceed two of the following criteria for 2 consecus for the following financial years :

1) A balancing sum of 143 million. kr.,

2) a net turnover of 286 million. DKK and

3) an average number of full-time workers of 250.

Paragraph 6. In the case of parent funds drawing up the group accounts, it is sufficient to set the target figures and draw up a policy, cf. paragraph 4, for the group as a whole.

Paragraph 7. Fmean, which has employed fewer than 50 employees in the last financial year, no policy can be deviated to increase the proportion of the sub-represented gender on the level of other management levels, cf. paragraph 4, no. TWO. "

Paragraph 4 becomes paragraph 4. 8.

2. I § 63, paragraph 2, change ' § 25, paragraph 3, "to :" § 25, paragraph. 3, and paragraph 1. 4, no. 1, "

§ 4

In the annual accounting law, cf. Law Order no. 323 of 11. April 2011, as amended by Section 1 of law no. 516 of 12. June 2009, section 1 of law no. 341 of 27. April 2011, section 2 of Law No 477 of 30. May 2012 and Section 11 of law no. 546 of 18. June 2012 is hereby amended as follows :

1. After paragraph 99 a is inserted :

" § 99 b. Large companies which have drawn up target figures for the proportion of the underrepresented sex in the executive executive body must account for the status of the performance of the target figures, including, where appropriate, the company, where applicable, not to the person ; set-up objectives, cf. however, paragraph 1 For the statement, section 99 a (3) shall be found. 4-8, corresponding use.

Paragraph 2. Large companies which are required to draw up a policy to increase the proportion of the underrepresented gender on the other management levels of the company must account for the policy, cf. however, paragraph 1 4. § 99 a (3) (a) 2-8, applicable mutatis muth.

Paragraph 3. In the event that there is no underrepresentation of one gender in the executive body, it is sufficient to inform the Commission in the Management Report. For the statement, section 99 a (a) is found. 4, equivalent use.

Paragraph 4. In the event that there is no underrepresentation of one gender on the other levels of management, it is sufficient to inform the Commission in the Management Report. For the statement, section 99 a (a) is found. 4, equivalent use. `

§ 5

In the law of financial activities, cf. Law Order no. 705 of 25. June 2012, as amended by Section 2 of Law No 512 of 17. June 2008 and section 2 of the Law No 557 of 18. June 2012, the following changes are made :

1. After section 79, pasted before section 80 :

" § 79 a. In Danish Skibps, financial companies and financial holding companies that have securities admitted to trading in a regulated market in an EU/EEA country, or a balance sheet of 500 million. DKK or more than two successive financial years, the Management Board shall :

1) set target figures for the proportion of the under-represented gender on the management board and

2) develop a policy to increase the proportion of the under-represented gender on the other management levels of the company, cf. however, paragraph 1 2-4.

Paragraph 2. For establishments covered by paragraph 1, 1 that produces group accounts, it is sufficient to set out the target figures and draw up a policy, cf. paragraph 1, for the group as a whole.

Paragraph 3. A subsidiary that is part of a group cannot fail to set out the target figures and formulate a policy, cf. paragraph 1 if the parent company sets out the target figures and draws up a policy for the overall group.

Paragraph 4. Undertakings that have employed fewer than 50 employees in the last financial year may not draw up a policy to increase the proportion of the underrepresented sex in their other management levels, cf. paragraph 1, no. 2.

Paragraph 5. Where an undertaking is both covered by this provision and the provisions concerning the gender composition of the executive executive agency, the law on trader or the law of certain traders, this provision has precedence. "

2. I § 373, paragraph 2, is inserted after ' Section 77 d (1). One and two, paragraph 79 a, paragraph. 1, no. 1, "

§ 6

In the law on payment services and electronic money, cf. Law Order no. 365 of 26. April 2011, as amended by law no. 1369 of 28. December 2011, the following changes are made :

1. The following section 19 is inserted before the title before section 20 :

" § 19 a. In payment institutions, which have securities admitted to trading in a regulated market in an EU/EEA country, or which has a balance of EUR 500 million, DKK or more than two successive financial years, the Management Board shall :

1) set target figures for the proportion of the under-represented gender on the management board and

2) develop a policy to increase the proportion of the under-represented gender on the other management levels of the company, cf. however, paragraph 1 2-4.

Paragraph 2. In the case of parent companies producing group accounts, it is sufficient to set the target figures and draw up a policy, cf. paragraph 1, for the group as a whole.

Paragraph 3. A subsidiary that is part of a group cannot fail to set out the target figures and formulate a policy, cf. paragraph 1 if the parent company sets out the target figures and draws up a policy for the overall group.

Paragraph 4. Undertakings that have employed fewer than 50 employees in the last financial year may not draw up a policy to increase the proportion of the underrepresented sex in their other management levels, cf. paragraph 1, no. 2.

Paragraph 5. Where a payment institution is both covered by this provision and the provisions concerning the gender composition of the executive executive agency, the law on trader or the law of certain traders, has the same provisions ; rule takes precedence. ` ;

2. I § 39 h "§ § 18 and 19" to : "§ § 18, 19 and 19".

3. I Section 107, paragraph 1. 2, is inserted after ' Section 18 (1). 3, " section 19 a, paragraph. 1, no. 1, "

§ 7

In the Law on Investment Associations, etc., cf. Law Order no. 935 of 17. September 2012, the following changes are made :

1. The following section 39 is added :

" § 39 a. In investment associations, SIKAVs, special associations and hedge funds, where the value of the unit's assets is at least EUR 500 million. DKK or more than two successive financial years, the Management Board shall :

1) set target figures for the proportion of the under-represented gender on the management board and

2) develop a policy to increase the proportion of the under-represented gender on the other management levels of the company.

Paragraph 2. Undertakings that have employed fewer than 50 employees in the last financial year may not draw up a policy to increase the proportion of the underrepresented sex in their other management levels, cf. paragraph 1, no. TWO. "

2. I § 221, paragraph 1. ONE, TWO. pkt., the following paragraphs shall be inserted after ' § § 31 and 31 h ` : ' § 39 a, paragraph 1, no. 1, "

§ 8

In the Act of securities trading, etc., cf. Law Order no. 855 of 17. August 2012, as amended by Section 2 of Law No 155 of 28. February 2012, the following changes are made :

1. The following section 12 is inserted :

" § 12 f. In operators of regulated markets, clearing centres and securities-centers, cf. Section 7 (2). 1 which has securities admitted to trade in a regulated market in an EU/EEA country or which has a balance of EUR 500 million. DKK or more than two successive financial years, the Management Board shall :

1) set target figures for the proportion of the under-represented gender on the management board and

2) develop a policy to increase the proportion of the under-represented gender on the other management levels of the company, cf. however, paragraph 1 2-4.

Paragraph 2. In the case of parent companies producing group accounts, it is sufficient to set the target figures and draw up a policy, cf. paragraph 1, for the group as a whole.

Paragraph 3. A subsidiary that is part of a group cannot fail to set out the target figures and formulate a policy, cf. paragraph 1 if the parent company sets out the target figures and draws up a policy for the overall group.

Paragraph 4. Undertakings that have employed fewer than 50 employees in the last financial year may not draw up a policy to increase the proportion of the underrepresented sex in their other management levels, cf. paragraph 1, no. 2.

Paragraph 5. Where an undertaking is both covered by this provision and the provisions concerning the gender composition of the executive executive agency, the law on trader or the law of certain traders, this provision has precedence. "

2. I § 93, paragraph. ONE, ONE. pkt., inserted after ' section 12 d (1), 1, ` : " § 12 f, paragraph. 1, no. 1, "

§ 9

Paragraph 1. The law shall enter into force on 1. April 2013.

Paragraph 2. Section 4 has effect for the financial year which begins on 1. January 2013, or later.

§ 10

Paragraph 1. The law does not apply to the Faroe Islands and Greenland, cf. however, paragraph 1 Two and three.

Paragraph 2. The law can, by means of a royal appliance, be set in full or in part to Greenland, with the changes that the Greenland conditions say.

Paragraph 3. The Act of Section 5 to 8 may, by means of a royal device, be set in full or in part by force for the Faeroe Islands, with the changes that the ferotable conditions are to be applied.