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TERMINATION OF DIRECTOR FOR BREACH OF NON-COMPETITION OBLIGATION

The directors of companies are attributed with certain duties of compulsory compliance inherent to the performance of their post. Such duties may be summarised as follows: Duty of loyalty; and Duty to avoid situations of conflict of interest. Both obligations have, as a general rule, an imperative character, in accordance with article 230 of the Spanish Capital Companies Act, and…

THE NEED FOR FLEXIBILITY IN THE COMPANY ADMINISTRATOR’S REMUNERATION SYSTEM

Prior to the Supreme Court Judgment 98/2018, the majority view of the Directorate General of Registries and Notaries (DGRN) and the Provincial Courts was that a dual system existed for the remuneration of the administrative body of the companies: Article 217 of the Capital Companies Act (Ley de Sociedades de Capital – “LSC”) regarding the remuneration of company directors, made…

NEW ROYAL DECREE REGARDING RESTRICTIONS ON THE USE OF CERTAIN HAZARDOUS SUBSTANCES IN ELECTRICAL AND ELECTRONIC EQUIPMENT

On Tuesday 20th November 2018, Royal Decree 1364/2018 of 2nd November entered into force, which transposes EU Directive 2017/2012 of 15th November 2017 into Spanish legislation, and which partially modifies Royal Decree 219/2013 of 22nd March regarding restrictions on the use of hazardous substances in electrical and electronic equipment. I. Subject matter of the regulation This regulation is intended for…

GEO-BLOCKING WITHIN THE EU MARKET

Regulation (EU) 2018/302 of the European Parliament and of the Council of 28th February 2018, which shall enter into force on 3rd December 2018, establishes a number of measures intended for preventing unjustified geo-blocking and other forms of discrimination based on customers’ nationality, place of residence or place of establishment within the internal market. It is a well-known fact that…