On 2 June 2010 in Belgium, a special law was adopted that gives the government the power in exceptional circumstances to force the shareholders of system-relevant financial institutions to divest at a reasonable price and gives the board of directors of those institutions far-reaching powers in the same circumstances without the need to obtain the prior approval of the general meeting of shareholders for decisions it wants to make. It is questionable, however, whether this legislation will be effective if it is not part of a more global solution.
European Company Law