What recommendations do we have regarding substance?
We advise to determine which level of substance is needed. Based on Dutch domestic regulations and in relation to the overall structure. Then determine what the consequences are if this level of substance is not met. If a certain level of substance is needed, then we advise to prepare a manual from which follows how the required level of substance would be maintained. Such a substance manual would include i) fulfillment of the substance requirements relating to day to day management, ii) board meeting attendance, iii) internal decision making process and iv) the activities performed in relation to functions and risks. Please reach out to us if you would like us to assist.