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There are substantial differences in governance between Dutch and Belgian NVs. The Dutch NV usually has a supervisory board, whereas the Belgian NV does not. The NV form in the Netherlands is restricted to large enterprises, and the BV form is more current, whereas in Belgium the NV form is used widely and the BVBA form is used mainly by family firms and as an alternative to the partnership. Furthermore recent developments have meant that not all Belgian NVs are truly public, in that restrictions on the transmission of their shares mean that these are effectively close companies. These means that it is impossible to say whether an NV is a plc or an llc until one has read the articles of association. Following changes in regulations (primarily to combat money laundering and tax evasion) the unregistered share is disappearing. This does not however affect the ability of the shareholder to trade his shares. Everybody got to be somewhere! (talk) 15:46, 8 March 2011 (UTC)
Don't forget though Bluyten that "public" has two distinct meanings: one is an ellipsis of publicly quoted, while the other means open to all, even though the shares may note be "listed" Everybody got to be somewhere! (talk) 18:22, 2 February 2014 (UTC)