Date in year · 1960 · The 1960s
On July 28, 1960, the German Volkswagen Act comes into force. The year's #1 song was "Theme from A Summer Place" by Percy Faith. Rudi Völler, Yelena Zhupiyeva-Vyazova, Gustavo Petro would arrive in the same year.
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1960
1960s
Featured · July 28, 1960
The Volkswagen Act is a set of German federal laws enacted in 1960, regulating the privatization of Volkswagenwerk GmbH into the Volkswagen Group. In order to maintain government control in the privately owned company, it stipulated that the votes in major shareholder meeting resolutions require 4/5th (80%) agreement. This part of the law was deemed to violate the "free movement of capital" principle of European Union corporate law.
Around 1960
1960 (MCMLX) was a leap year starting on Friday of the Gregorian calendar, the 1960th year of the Common Era (CE) and Anno Domini (AD) designations, the 960th year of the 2nd millennium, the 60th year of the 20th century, and the 1st year of the 1960s decade.
What happened
1960 West German laws regarding privatisation and government control of companies
The Volkswagen Act is a set of German federal laws enacted in 1960, regulating the privatization of Volkswagenwerk GmbH into the Volkswagen Group. In order to maintain government control in the privately owned company, it stipulated that the votes in major shareholder meeting resolutions require 4/5th (80%) agreement. This part of the law was deemed to violate the "free movement of capital" principle of European Union corporate law.
Elsewhere that year
The class of 1960
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