Statute changes of the Belgian Business Chamber

As you are aware, the Belgian Business Chamber has been actively involved in promoting and protecting the interests of its members in Poland. In order to better serve our members and to ensure the continued success and growth of the Chamber, BBC Board Members have been reviewing our statute and drafting propositions for changes to reflect the evolving needs and circumstances of our organization.

Summary of Changes:

After careful consideration, BBC Board Members suggest the following changes to our statute:

• Extension of mandate: the Board suggests extending the mandate of BBC Board Members from 2 to 3 years. The mandate of the Management Board Members terminates on the date of the Ordinary General Assembly approving the financial statement for the last full fiscal year of the Board Member's term of office, whereby the term of office of a Board Member shall be calculated in full fiscal years. This change aims to ensure better continuity and stability in the management of the Chamber. With a longer mandate, the Board will be able to focus on implementing strategic initiatives and making long-term decisions. A third year will allow Board Members to deploy in full efficiency after gaining two years of deep knowledge about the BBC’s functioning.

• Creation of an Advisory Council: in order for the Chamber to benefit from the experience and knowledge of specialists, the Management Board may, by resolution, establish an Advisory Council as an opinion and advisory panel of the Management Board consisting of individuals who are Members (including ones who are in a legal relationship with a Member) and individuals who are not Members. The Advisory Council shall not constitute an organ of the Chamber and shall not be subject to disclosure in the National Court Register. Extension of the competences of the Management Board: considering the importance of maintaining a high level of ethical standards in the business community, the Board proposes to extend the competences of the Management Board members to include the approval and adoption of the Code of Ethics, thereby enabling them to provide strategic guidance and oversight on matters of ethical conduct and ensuring the Chamber's commitment to upholding professional values and principles. These propositions will be submitted to the voting of BBC Members on the day of the BBC Annual Ordinary General Assembly 2024 taking place on June 20th, 2024.

Implementation Timeline: If approved by the voting of BBC Members, the Management Board will promptly notify the competent court of the amendment to the Statute and the new Statute will come into effect after 14 days from the date of the such notification, unless the court objects.

Key Benefits: These changes will enable us to better serve our members, enhance our governance structure, and increase our effectiveness in promoting business interests of BBC member companies.

Next Steps: We will be providing additional information and guidance on the implementation of these changes over the coming weeks.

If you have any questions or concerns, please do not hesitate to reach out to our team at bbc@belgium.pl.