Originally, in companies whose shares were admitted to a regulated market, the proportion of female and male directors had to be at least 20%. This proportion must have reached at least 40% at the end of the first ordinary general meeting following January 1, 2017. Any appointment or appointment that would be in violation of these provisions and would not have the effect of remedying the irregularity of the composition of the board would be void. Failure to respect the 40% proportion also results in the suspension of the payment of directors' fees and can not be reinstated until the composition of the Board has met this proportion.
The obligation to respect the 40% of female to male directors also applies to companies that have fulfilled the following conditions for three consecutive years:
- employ an average of at least 250 permanent employees;
- achieve at least EUR 50 million net of turnover or have a balance sheet total greater than or equal to this amount.