Government measures in key jurisdictions 2nd edition final pages - Flipbook - Page 38
Denmark
8
38
Company
law matters
•
Have any measures
been put in place
to accommodate
social distancing
•
(such as remote
general meetings)?
The Danish government currently maintains restrictions on large gatherings, and on
13 March 2020 a temporary ban was imposed on holding or participating in events,
activities or the like where more than 10 people are gathered. This ban will most likely
be upheld until 8 June 2020, however, after 8 June 2020 it is the expectation that
gatherings of 30-50 people will be allowed. However, it is still uncertain at this stage
and will depend the development of the COVID-19 pandemic at that time.
As a consequence hereof, the Danish government has implemented an Executive
Order whereby the deadline for submitting the annual report to the Danish Business
Authority has been postponed. The deadline has been postponed by three months,
which means that the annual report must be submitted on 31 July 2020 for listed
companies with the calendar year as fiscal year and on 31 August 2020 for other
companies with the calendar year as fiscal year.
•
If the restrictions on large gatherings continue to remain in force, the deadline for
submitting annual reports to the Danish Business Authority will be postponed further.
In that case, companies must submit their annual report to the Danish Business
Authority no later than 8 weeks after the restrictions on large gatherings have been
revoked. The extension requires that (i) the restrictions on large gatherings still exist at
the end of the extended deadline for submitting the annual report (i.e. 31 July 2020 or
31 August 2020, respectively), and (ii) the companies have not been able to hold the
general meeting whereby the annual report is approved before the deadline.
•
The Executive Order furthermore introduces a possibility for general meetings,
which are held no later than 8 weeks after the termination of the restrictions on large
gatherings, to be held completely electronically, irrespective of the fact that the
company’s articles of association may not provide for this.
•
For additional information about the company law related measures put in place to
accommodate social distancing see (in Danish), please view here.
Government measures in key jurisdictions
