The Belgian Corporate Governance Code 2020 ("Code 2020") applies to companies incorporated under Belgian law whose shares are traded on a regulated market ("listed companies") as defined in the Belgian Companies Code.
Home Invest Belgium applies the 2020 Code in the sense of article 3:6, §2, 1° of the Code. The 2020 Code can be found on the website of the Corporate Governance Commission.
The Charter contains the corporate governance principles applicable within the company.
Home Invest Belgium aims to comply with the regulations of the 2020 Code as much as possible. However, there are deviations on a number of topics. In line with the ‘comply or explain’ principle contained in the Code, it is possible to deviate from the principles of the Code to be able to take into account certain characteristics specific to the company and its relatively small size:
- The assessment of the board of directors occurs on an ongoing basis (rather than periodically), given the frequency with which the board of directors meets and at the time of the renewal of the mandates (derogation from principle 9.1).
- The rules on the remuneration of members of the management team may deviate from the recommendations made in 2020 Code; see ‘remuneration report’ (deviation from principle 7.8).
- Non-executive directors do not receive part of their remuneration in the form of shares (deviation from principle 7.6).
- The board of directors does not set a minimum threshold of shares to be held by the members of the executive management (deviation of principle 7.9).
Corporate Governance Charter
The Corporate Governance Charter describes the management rules applicable within the company. This charter was drawn up by the board of directors of Home Invest Belgium and can be consulted here. This charter is completed by the risk management regulations and the internal audit regulations, which form an integral part of it.