The discussions on corporate governance in the Netherlands have resulted in “The Dutch Corporate Governance Code” (also known as the ‘Tabaksblat Code’), published on 9 December 2003. From the 2004 financial year onwards, Dutch listed companies have to include in their annual report a section on their corporate governance and compliance with the code and have to explain any non-compliance.

ING has published a booklet in which you will find the full text of The Dutch Corporate Governance Code consisting of the principles and related best-practice provisions and how ING implements it. In March 2007 the booklet was updated for the way ING implements the Tabaksblat Code.

You can download the updated booklet here.

The annual General Meeting of Shareholders on 26 April 2005 approved ING’s implementation of the Tabaksblat Code. This approval means that ING is in full compliance with the Code.

In December 2008, the Monitoring Committee of the Dutch Corporate Governance Code (the ‘Frijns Committee’) published an updated version of the Dutch Corporate Governance Code (‘Tabaksblat Code’ or ‘Code’), the draft of which was distributed for consultation in June 2008. The revised Code became effective on 1 January 2009.

ING Group is now considering the revised Code and to what extent it can be implemented. As recommended by the Frijns Committee, the implementation of the revised Code will be discussed at the 2010 General Meeting as a separate agenda item.