“Rixain” Law : the new obligations regarding gender equality in management bodies
The so-called "Rixain" law of December 24, 2021 intensifies the obligations of large corporations in terms of gender equality. These new obligations, which are applicable to corporations with more than 1,000 employees, can be broken down as follows:
• From March 1, 2022, companies will have to publish each year any gaps in the representation of women and men among senior managers and members of management bodies;
• From March 1, 2023, these gaps will be published on the website of the Ministry of Labour;
• By March 1, 2026, these gaps in representation must be less than 30%;
• On March 1, 2029, companies will be given a two-year period to reach 40%.
Eventually, as of March 1, 2031, companies that do not comply with their obligation may be sanctioned by a financial penalty of up to 1% of the annual payroll.
Decrees have yet to be published, notably on the methods of publishing data and setting of the financial penalty.