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Spanish Prime Minister Pedro Sanchez has announced a gender equality law that will require more equal representation of women and men in politics, business and other areas of public life, Reuters reports.

The Gender Equality Act will apply gender equality measures to electoral rolls, boards of directors of major companies and governing boards of professional associations.

Sanchez made the statement during a Socialist Party rally ahead of International Women’s Day on March 8. The bill is expected to be approved during the cabinet meeting on Tuesday, after which it will be debated in parliament.

The Spanish prime minister said that the government “is not only taking a step in favor of feminism, but also in favor of Spanish society as a whole”. It is the latest in a series of equality measures announced by the left-wing coalition government.

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In December, lawmakers passed a transgender rights bill as well as a groundbreaking law covering sexual and reproductive health that, for the first time in a European country, provides for state-funded paid leave for women who suffer from painful periods.

“If they make up half of society, half of the political and economic power should belong to women,” Sanchez stressed, referring to women.

The Equal Representation Act will require women to make up 40% of the management of any registered company with more than 250 workers and an annual turnover of €50 million.

In politics, the law will require parties to field an equal number of male and female candidates during elections, with the aim of increasing gender equality in parliament.

Women currently make up 44% of Congress and 39% of the Senate.

In addition, professional associations will be required to have at least 40% women on their boards, as well as on juries for any publicly funded awards.