Lientje Van den Steen, Christoph Van der Elst
The Law of 14 December 2005 concerning the abolishment of bearer securities
This short article assesses two new Belgian laws. The first law abolishes bearer securities. The transition period has different steps and will be finalised at the end of 2015. Not all transition problems have been resolved. It is unclear who will bear the costs for destroying the bearer shares. The second law limits liability of auditors for legal audits and other assurance work and amends the professional secrecy rules. As in the former law, not all issues have been resolved. An audit term lasts three years. There is noindication how to deal with different damage claims.