Decisions on dividends or group contributions are normally made by the general meeting , cf. Section 8-2 of the Companies Act.
The general meeting can, however, authorize the board to decide on dividends and/or group contributions, cf. Section 8-2 (2) of the Companies Act. Such authorization can only be granted after the general meeting has approved the annual accounts for the last financial year, and the authorization can only be used to decide on the distribution of dividends or group contributions on the basis of the company’s annual accounts.
The power of attorney cannot apply for a longer period of time than until the next ordinary general meeting.
The general meeting’s decision on board authorization must be reported to the Companies Register without delay. The board cannot make use of the power of attorney before it has been registered. The power of attorney must also be registered on the dCompany platform.
