Spanish Organic Law 3/2007 for Effective Equality between Women and Men, 2007

Spain Current 2007

Law 3/2007 encourages companies to promote conditions of equality between men and women. Private companies with more than 250 employees and all public companies and public administrations must develop an equality assessment and action plan. All ministries, public bodies and companies must submit information to the Ministry of Labour and Social Affairs and the Ministry of Governmental Affairs annually on their effective implementation of the principle of equality between women and men. The Spanish Securities and Exchange Commission’s (CNMV) has also issued a Corporate Governance Code that recommends that listed company boards include women with appropriate business backgrounds when seeking additional directors. Companies that do not follow the recommendation of having a corporate board with 40 percent female positions must provide an explanation of why that is the case. (An Organic Law or Ley Orgánica in Spanish law under the Spanish Constitution of 1978 must be passed by an absolute majority of the Congress of Deputies.)

Scope

Social

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

Large companies (listed & unlisted)

Issuer type

Ministry of Labour and Social Affairs

Type of instrument

Legislation

Mandatory or voluntary

Voluntary

The geographical scope

National/federal

Project Partners