Publication Of The Act On Certain Operators Companies

Original Language Title: Bekendtgørelse af lov om visse erhvervsdrivende virksomheder

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: https://www.retsinformation.dk/Forms/R0710.aspx?id=131642

Overview (table of contents) Chapter 1 scope and definitions Chapter 2 company name and procuration Chapter 3 Registration and capacity Chapter 4 notification and publication Chapter 5 management's and Auditor's duties Chapter 6 Chapter 6 (A) merger and demerger Resolution Chapter 6 (B) the cross-border merger and demerger Chapter 7 penal provisions, etc.
Chapter 8 entry into force provisions, etc., The full text of the Ordinance to the law on a certain trader companies Hereby promulgated law on certain traders businesses, see. lovbekendtgørelse nr. 651 of 15. June 2006, with the changes imposed by section 3 of Act No. 573 of 6. June 2007, section 60 of the Act No. 468 of 17. June 2008 and section 2 of Act No. 516 of 12. June 2009.
The changes imposed by § 2, nr. 7 and 10-13 of law No. 516 of 12. June 2009, is not incorporated in this Legislative Decree No, since the time of the entry into force of these changes shall be established by the Minister for economic and business affairs, see. 25, paragraph 1, of the lov nr. 516 of 12. June 2009, as amended by section 2 of Act No. 159 of 16. February 2010.
The provisions of the Act are supplemented by temporary provisions laid down in sections 2-6 of Decree No. 186 of 24. February 2010 on the partial entry into force of the Act amending the Danish financial statements Act, Danish financial business Act and various other acts.
Chapter 1 scope and definitions article 1. The law applies to companies that aims to promote the company's participants economic interests through business operations.
(2). By undertakings for the purposes of this law, sole proprietorships, partnerships, cooperatives (cooperatives) as well as other societies and associations with limited liability not covered by company law or law of trader funds. Branches of corresponding foreign businesses are also covered by the law.
(3). A company is deemed under this Act to carry out the business operation, if the 1) transfers the goods or intangible rights, payment services or similar, for which the company usually receives remuneration, or 2) practising with the sale or rental of immovable property or 3) has it in the Danish companies Act §§ 6 and 7 referred to the case of a public limited-liability company or with another company that engaged in no. 1 or 2 shall be the business operation, or 4) exercises a dominant influence over another enterprise pursuant to statute or agreement and have a significant share in its operating result without having the in no. 3 connection with the other company.
§ 2. By a partnership for the purposes of this Act, a company in which all the participants shall be liable without limitation personally and jointly and severally liable for the company's obligations.
(2). By a limited partnership means an establishment where one or more participants, komplementarerne, personally liable, without limit, and if there are several, jointly and severally liable for the company's obligations, while one or more participants, the limited partners, limited shall be liable for the company's obligations. For limited partnerships that have been formed after the 1. June 1996, they must fully responsible participants have administrative and financial powers.
(3). Apart from the rules laid down in chapters 1, 2 and 7 will find the law does not apply to sole proprietorships, partnerships and limited partnerships. Partnerships and limited partnerships, in which all stakeholders, respectively komplementarerne is public limited liability companies, partnerships, private limited companies (limited partnerships with) or undertakings with a similar legal form, however, must be reported to the registration in the Danish Commerce and companies Agency, since sections 10-17 shall apply mutatis mutandis to these companies. The Danish Commerce and companies agency may lay down detailed rules concerning the information to be recorded about these companies.
§ 3. By a company with limited liability, for the purposes of this law, a company in which none of the participants shall be liable without limitation personally and jointly and severally liable. It is furthermore a condition that the business participants are not be able to vote and receive dividends in proportion to their share of the capital, and that there should be scope for varying number of participants.
§ 4. At a cooperative (cooperative) for the purposes of this Act, a company subject to section 2, paragraph 1. or (2) or section 3, whose purpose is to work for the promotion of the mutual interests of the participants through their participation in the company as buyers, suppliers or in any other similar way, and where the company's rate of return, apart from the normal rate of return on the capital, either shall be allocated among members in proportion to their share in turnover or remain deposits within the company.
§ 5. The law does not apply to 1) enterprises approved pursuant to section 60 of the Act on municipalities ' administration, 2) companies covered by the sølovens rules on party lines and 3) companies that are under the supervision of the financial supervisory authority or similar regulatory authority within the community or in countries with which the community has concluded cooperation agreement with.
(2). The Danish Commerce and companies agency may provide that a company or specific types of businesses wholly or partly exempt from the law.
Chapter 2 the company name and the power of procuration, section 6. At a corporate name for the purposes of this Act, the name under which the company carries on its business operation or a part of this, and which is used in the signature of the company.
(2). Companies ' names must clearly distinguish themselves from each other. In the company's name must not be included family name, company, Foundation or company name, unique name on real estate, trademarks, tradenames and similar, which is not for the company, or anything that may be confused with it.
(3). A company name must not be likely to mislead. It must not contain any indication of undertakings which are not connected with the professional activity exercised by the company. Specifies the name of a particular business activity, it must not be used unmodified, when business activity nature substantially altered.
(4). Partnerships and cooperatives (cooperatives) in their name must use these designations or abbreviations thereof. No other must use those names or names that may be confused with it.
(5). Leaving someone as a responsible participant in a company, can that person's name is maintained in the company's name, if there is consent from the person concerned or his or her heirs.
(6). The name of a company with limited liability shall include the liability limitation. As an abbreviation for cooperative societies with restricted liability can only be used ' A.m.b.a. ' (7). The provisions of paragraphs 1 to 6 shall apply mutatis mutandis to secondary businesses. Using the alias to be the company's main name alias is added in parentheses.
(8). A branch of a foreign company in its name must incorporate the word ' branch ' and clearly indicate the company's nationality.
§ 7. Procuration may be granted only by the competent authority or fully responsible participants or by the governing body which, according to the company's articles of Association is empowered to do so. Prokuristen is authorized to act on behalf of the company in all matters pertaining to the operation, and to bind the company. Prokuristen must not, however, without the express authorisation to dispose of or pledge the company's immovable properties.
(2). Procuration may be given to multiple people, so that it can only be used by those in the Association (collective power of procuration).
(3). Procuration cannot be limited with effect in relation to third parties, see. However, paragraph 2.
(4). A Vice President can not transfer prokuraen to another.
(5). Procuration may at any time be withdrawn. Delegating death shall not entail termination of the prokuraens.
Chapter 3 Registration and capacity § 8. Companies with limited liability, without prejudice. § 3, by the Board of Directors, Executive Board or similar governing body notified to the registration in the Danish Commerce and companies Agency.
(2). Branches of foreign companies with limited liability should be reported to the registration of filialbestyreren.
§ 9. A company with limited liability, which is not registered in the Danish Commerce and companies Agency, cannot, as such, acquire rights and enter into obligations. The company also cannot be a party to legal proceedings with the exception of actions for the Foundation.
(2). For an obligation before the registration shall be concluded on behalf of a company with limited liability, liable those who have concluded the obligation or has responsibility for it, personally, without limitation and in solidarity. Upon registration, the company takes over those obligations.
(3). Is there before the registration of a company with limited responsibility taken by an agreement, and the contractor was aware that the company was not registered, can the contractor, unless otherwise agreed, cancel the agreement, provided that notification of registration is not made before the expiry of the section 10, paragraph 2, the prescribed period or registration is refused. The contractor was unaware that the company was not registered, the latter may terminate the contract, as long as the company is not registered.
Chapter 4 notification and publication

§ 10. Requiring registration information in accordance with this law shall be recorded in the Danish Commerce and companies agency it system no later than 2 weeks after the constitutive decision, unless otherwise provided pursuant to this Act. Where the reviewer not even responsible for the registration in the Danish Commerce and companies agency it system must review be received in the Danish Commerce and companies Agency, no later than 2 weeks after the constitutive decision is taken. Compliance 1. and 2. Item No, registration does not take place.
(2). The obligation to ensure that the registration is taking place, or to review with a view to registration shall be notified to the Danish Commerce and companies Agency, shall be the responsibility of the company's central governing body.
(3). Paragraphs 1 and 2 shall apply mutatis mutandis to the publication of documents and other communications, etc., to be published in the Danish Commerce and companies agency it system.
(4). The company must draw up a statute, which must be attached to the notification on registration of the Foundation.
§ 11. The members of the management of a company, subject to the provisions of this law, must be registered in the Danish Commerce and companies Agency. It should also be recorded, who is authorized to sign for the company. In addition, the recorded information on the company's name, address, headquarters, purpose and fiscal year municipality. The entity shall submit a yearly report in accordance with the Danish financial statements Act, § 3, paragraph 1, no. 4, recorded together auditor's name in the register.
(2). Review about and changes related to any auditor elected by the general Assembly for the review of the annual report referred to in article 6. the Danish companies Act section 144, to be registered in the Danish Commerce and companies Agency. If the auditor change occurs within the expiry, notification must be attached to the profession an adequate explanation from the central governing body of the cause of the termination of the profession.
§ 12. A limited partnership or a partnership can be deleted by the Danish Commerce and companies agency register, if 1) company reviewed, to one of the stakeholders, respectively komplementarerne is no longer capital companies or companies with a similar legal form, 2) the company no longer has any leadership or registered auditor and this cannot be remedied not later than the expiry of a deadline set by the Danish Commerce and companies agency or 3) management not to the Danish Commerce and companies Agency has submitted annual report or exemption Declaration in accordance with the Danish financial statements act accordingly.
(2). It turns out after the deletion, to the conditions that have led to deletion no longer exists, the partnership or limited partnership, see. (3) ask the Danish Commerce and companies Agency to re-register the company. The Danish Commerce and companies agency may lay down detailed rules on the re-registration of the enterprises referred to in paragraph 3.
(3). A company no longer fall under the scope of the law, see. section 1, paragraph 1, and wound up the not, see. § 20, this must be notified in accordance with paragraph 1. With the notification must be submitted a statement prepared by a chartered or certified accountant that the company is solvent. The Danish Commerce and companies agency deletes the company from the register, when this statement is received.
§ 13. Reviews, financial statements and other documents provided by the Danish Commerce and companies Agency receives, and letters, transcripts and other documents, as the Danish Commerce and companies agency issuer which can be in both paper based as electronic format, see. However, paragraph 2. The documents are legally treated as such regardless of form. Where in this Act required that a document must be signed, this requirement can be satisfied by personal signature, by mechanically reproduced signature or by digital or equivalent electronic signature.
(2). The Danish Commerce and companies agency may set rules about 1) use, notification and registration, including what conditions reviewers or other can or must register, 2) publication of documents and other communications, including which documents etc. reviewer even can or even should register in the Agency's it system, 3) electronic submission of documents, which the Danish Commerce and companies Agency receives under this Act, including on the submission form whether the requirements for the electronic systems and on the use of electronic signature, 4) what information should be made public as soon as possible, 5) as to whether information etc. is publicly available, 6) fees for review, for prints, etc., of the Ordinance, for the use of the Agency's it system and for Dunning, etc. by late payments and 7) payment of an annual fee for the administration of the company law rules relating to loss of capital, etc. as well as for not specially priced services.
§ 14. The Danish Commerce and companies agency may set rules on language requirements for the documentation submitted in connection with reviews in establishments covered by this Act.
(2). The Danish Commerce and companies agency may also lay down rules to the effect that voluntary registration and disclosure of company information also can be done on any other of the official languages of the European Union in addition to the obligatory publication in one of the languages allowed under paragraph 1.
(3). In the event of a discrepancy between the documents and information, which has been the subject of mandatory notification and publication in Danish, see. paragraph 1, and the translation voluntarily disclosed, without prejudice. (2) the company may not do the translation invoked against third parties. Third parties can, however, make the voluntarily published text applicable to the company, unless it is proved that the person knew the notifiable version, which was published in the register. § 12 shall not apply to voluntarily published documents.
Registration section 15. In the Danish Commerce and companies Agency are placed on a register of companies that are registered pursuant to this Act. Registration and publication in accordance with this Act is done in the Agency's it system.
(2). Information published in the it system, shall be deemed to have come to the third parties. 1. paragraph shall not, however, apply in respect of dispositions made no later than the 16. day following that of its publication, provided it is proved that the third man could not have been aware of the published conditions.
(3). As long as publication in the it system has not taken place, the conditions that have to be recorded and published, not be invoked against third parties unless it is proved that this has had knowledge of it. The fact that such a relationship is not yet published, shall not prevent a third party from making the relationship in force.
section 15 (a). Registration should not take place, if the fact that registration was sought in contravention of this law, the rules laid down in accordance with the law, or the company's articles of Association, or if the decision which is the basis for registration have not been to on the way in which the law or the articles of Association shall require.
(2). The one who detects a relationship or submit notification to this effect to the Danish Commerce and companies Agency, is responsible for the fact that it registered or notified matters lawfully made and in accordance with the company's articles of Association, including the existence of an appropriate power of Attorney, and that the documentation in connection with the notification is valid.
§ 15 b. Find the Danish Commerce and companies Agency, to an error or defect in a pending conditions can be remedied by a decision of the general meeting or by the adoption of the company's management shall set a deadline for rectification of the relationship Agency. Correction does not happen no later than the end of the prescribed time limit, registration may not take place.
(2). The notifier must have written notice of that registration cannot take place and whether the reasons for doing so.
(3). The Danish Commerce and companies Agency becomes aware that there is doubt as to the ownership of shares in a company with limited responsibility, the Agency decide to registrations under section 12 may not take place until there is clarity about ownership. The notifier must have written notice of that registration cannot take place, and whether the reasons for doing so. The Danish Commerce and companies Agency in the Agency's it system may also publish a communication on the basis of the Agency's decision.
(4). The Danish Commerce and companies agency may, in the cases covered by paragraph 3 also register management's resignation.
section 15 (c). The Danish Commerce and companies agency may by reviewed require sufficient information in order to assess whether the law and the company's articles of Association are complied with.
(2). For the notification and registration in accordance with the rules laid down pursuant to this chapter may the Danish Commerce and companies Agency for up to 3 years from the time of recording, demand submission of proof of that notification or registration is lawfully made. The Danish Commerce and companies agency may in connection therewith in special cases require that submitted a declaration by an auditor that the financial arrangements in connection with the notification or registration is lawfully made. Met the requirements under 1. and 2. paragraph does not lay down a time limit for rectification of the relationship Agency. Correction does not happen no later than the end of the prescribed time limit, the Agency if necessary, cause the company dissolved according to the rules laid down in section 21.

§ 15 d. information relating to the name, position and address of management must at all times be apparent from the Danish Commerce and companies agency it system. This is also true in the deleted companies. The Danish Commerce and companies agency may determine rules on the disclosure of certain information should not appear.
(2). Update of personal information in accordance with paragraph 1 shall end 10 years after the person ceases to be registered in a company which is registered in the Danish Commerce and companies agency it system. The Danish Commerce and companies agency may determine rules on the disclosure of certain information should not appear.
§ 15 e. mean someone that a registration is concerned, to the detriment, determines the courts the question of legality of the registration.
(2). Proceedings thereon shall be brought against the company not later than 6 months after publication of the registration in the Danish Commerce and companies agency it system. The court sends the Danish Commerce and companies agency transcript of judgment, according to which the Danish Commerce and companies agency publishes information on the outcome of the case in the Agency's it system.
(3). Other decisions taken by the Danish Commerce and companies Agency pursuant to law or regulations issued pursuant to the law may be brought before the EAB, no later than 4 weeks after the decision is announced.
(4). The Danish Commerce and companies agency decision under section 15 (b) and decisions as a result of exceeding the time limits laid down in section 10 (2) and (4) and section 15 (b), as well as decisions under section 20 and section 21, paragraph 1, may not, however, be brought before the higher administrative authority.
Time limits section 16. Where in the law or regulations issued pursuant to the Act, provides that an action may or must be carried out within a given number of days, weeks, months or years before a specified event takes place, the period shall be calculated in order to carry out the action from the day before this event.
(2). Expire in order to carry out the operation in a weekend, on a holiday, Constitution Day, Christmas Eve or new year's Eve, the operation should be carried out not later than the last workday in advance.
(3). Where in the law or regulations issued pursuant to the Act, provides that an action or decision may be made not earlier than a certain number of days, weeks, months, or years after a specified event has occurred, the period shall be calculated in order to carry out the action or decision from the day after this event. The action or decision can be made at the earliest, the day after the deadline has expired.
section 16 (a). Where in the law or regulations issued pursuant to the Act, provides that an action to be carried out not later than a specified number of days, weeks, months, or years after a specified event has occurred, the period shall be calculated in order to carry out the action from the day after this event, see. paragraphs 2 to 4.
(2). The time limit referred to in article 6. (1) specified in weeks shall expire in order to make the operation on the day of the week for the date on which the event took place.
(3). The time limit referred to in article 6. paragraph 1, expressed in months shall expire, in order to carry out the operation on the day of the month of the day on which the event took place. If the event took place on the last day of a month, or if the period expires on a monthly date, which does not exist, the period shall expire on the last day of the month always regardless of the length of the month.
(4). The time limit referred to in article 6. paragraph 1, expressed in years shall expire, in order to carry out the operation on the anniversary of the event.
(5). Expire in one weekend, on a holiday, Constitution Day, Christmas Eve or new year's Eve, the action must be made no later than the first following working day then.
§ 17. (Repealed).
Chapter 5 management's and Auditor's duties of section 18. For the establishments covered by this Act pursuant to the law on trader enterprises presentation of financial statements, etc. (financial statements) must submit annual report, management must give the auditor the information that must be considered of importance for the assessment of the company and, if the company is a parent company, group of companies.
(2). Management must give the Auditor General access to carry out the studies that consider necessary, and shall ensure that the auditor will have the information and the assistance that the Auditor considers necessary for the performance of his duties. The management of a company which is a subsidiary undertaking in accordance with the Danish financial statements Act, have corresponding obligations to the parent's auditor.
§ 19. An auditor can be allocated by the selected auditor. An auditor can only be marketed before the expiry of the profession, if a justified circumstances giving rise thereto.
(2). Auditor resigns, or terminates the review in any other way, prior to the auditor's duties expire, auditor immediately inform the Danish Commerce and companies Agency. The notification must be accompanied by a full explanation of the reason for termination, if termination of employment or profession the termination occurred before the expiry of the profession.
Chapter 6 Resolution § 20. 1) For the winding-up of companies with limited liability applies to the Danish public companies Act Chapter 14 with the necessary deviations taking into account the specific nature of the businesses.
section 20 (a). In companies with limited liability, which has paid all creditors, business participants in the face of the Danish Commerce and companies Agency a declaration stating that all debts due as uforfalden, have been paid, and that the company is dissolved. Business participants ' names and addresses must be specified in the Declaration.
(2). The Danish Commerce and companies agency may only register the dissolution, if the Declaration is received by the Agency no later than 2 weeks after the signing. The Declaration must be accompanied by a statement from the Customs and tax authorities, that there is no tax requirements for your business.
(3). Corporate participants shall be liable personally, jointly and severally liable for the debt, dilapidated and unlimited as uforfalden or at issue, which consisted at the time of submission of the Declaration. To the extent that there are excess funds, distributed these to company participants.
§ 21. The Danish Commerce and companies agency may decide that companies with limited liability should be dissolved by the bankruptcy court, if the company does not have the prescribed in the articles of association management, or if the Agency is not filed in due time have received the statement under section 12 (2) 2. paragraph, or annual report or declaration after the Danish financial statements Act and the lack of exception not be remedied before the expiry of a deadline set by the Agency.
(2). Compulsory dissolution shall be implemented in accordance with the provisions of §§ 226-229 of the Danish companies act with the necessary deviations taking into account the specific nature of the businesses.
Chapter 6 A Fusion and fission Fusion section 21 (a). A company with limited liability can be dissolved without liquidation by transfer of the company's assets and debts as a whole to another company with limited liability, which are covered by the law. The same applies when two or more companies with limited liability will cease to exist for a new company with limited liability. Decision fusion are taken with the majority vote required for amendment of the articles.
(2). 2) provisions relating to the merger of the Danish public companies Act Chapter 15 shall apply mutatis mutandis.
Splitting article 21 (b). Corporate participants can be delivered by the majority required for the amendment of the statutes, decide on the Division of a company with limited liability. By the Division transferred assets and liabilities as a whole to more existing or new companies with limited liability covered by the law for consideration to the transferring company business participants. Corporate participants can with the same majority decide on a Division whereby a company with limited liability will transfer part of its assets and liabilities for one or more existing or new companies with limited liability. The transfers can be carried out without the consent of the creditors.
(2). 3) provisions relating to the Division of the Danish public companies Act Chapter 15 shall apply mutatis mutandis.
(3). If a vendor in a company with limited liability, which has participated in the Division, will not be satisfied, booklets each of the other participating companies jointly and severally liable for obligations that existed at the time of the draft terms of the plan's publication, but not more than an amount equal to the amount or remaining net value of the company at this time.
Chapter 6 (B) the cross-border merger and demerger cross-border merger § 21 c. 4) the Danish public companies Act § § 137-137 (g) shall, with the necessary adaptations, apply by analogy to the merger, in which a company with limited liability covered by this law shall participate in a merger with one or more corresponding companies with limited liability, which fall under at least one other EU/EEA-country's legislation, see. However, paragraph 2.
(2). A cross-border merger of limited liability companies are subject to legislation, as the other participating undertakings fall under, allows cross-border mergers with that type of business, and that the foreign companies are comparable to companies with limited liability covered by this law.
Cross-border demerger § 21 d 5) section 138 of the Danish public companies act shall apply mutatis mutandis to the necessary adjustments to a Division in which a company with limited liability covered by this law shall participate in a Division with one or more corresponding companies with limited liability, which fall under at least one other EU/EEA-country's legislation, see. However, paragraph 2.

(2). A cross-border division between companies with limited liability is subject to the legislation, as the other participating undertakings fall under, allows cross-border divisions with that type of business, and that the foreign companies are comparable to companies with limited liability covered by this law.
Chapter 7 penal provisions, etc.
§ 22. The Board of Directors, Executive Board fails or the corresponding management body in time to comply with the duties according to the law or provisions laid down in pursuance of the law rests with them in relation to the Danish Commerce and companies Agency, agency which forced product impose the relevant daily or weekly fines, conferred on the udpantningsret.
§ 23. Unless more stringent punishment is inflicted after the Penal Code punished violations of § 2, paragraph 3, 2. paragraph, section 6 (3), (4), 2. point, and 6-8, and section 8, section 10, paragraph 2, and sections 12 and 15 c with fine.
(2). In the regulations, which shall be drawn up in accordance with the law, can be fixed penalty of fines for violation of the provisions of the legislation.
(3). Is a violation committed by a company, an association, a Fund, or similar, may be imposed on the legal person as such fine responsibility. Is the infringement committed by the State, a municipality or a municipal community, see. section 60 of the Act on Municipal Board, may be subject to the State, the municipality or the municipal community fine responsibility.
Chapter 8 entry into force provisions, etc.
§ 24. (Repealed) section 25. The law shall enter into force on the 1. January 1995.
(2). At the same time repealed Act No. 23 of 1. March 1889 on the commercial register, business and power of procuration.
(3). The particulars and documents no later than 31 December. December 1994 is registered or recorded in the commercial register, shall be available until 1. July 1995 with the police Chief, in Copenhagen with city officials.
section 26. Limited liability companies as well as branches of corresponding foreign firms made up by the entry into force of the Act, shall before 1 January 2002. July 1995 shall be notified to the Danish Commerce and companies Agency.
(2). § 6, paragraph 6, 1. clause, and paragraph 9 shall not apply to existing establishments.
(3). Company names, as at the date of entry into force of the Act is registered in the commercial register, and as notified to the Danish Commerce and companies Agency for registration, regardless of section 6, paragraph 2, recorded in the Danish Commerce and companies Agency and are used with the same right as so far.
§ 27. A company with limited liability, which is made up by the entry into force of the Act, may apply the provisions of section 19(1), 1-4, when at the end of the first fiscal year, which begins 1. January 1995 or later, does not exceed two of the size criteria laid down in article 19, paragraph 2.
section 28. A company with limited liability, which is made up by the entry into force of the Act, and which is the parent company, can apply the provisions of the Danish financial statements Act, section 2 (c), when the Group at the end of the first fiscal year, which begins 1. January 1995 or later, does not exceed two of the size criteria laid down in paragraph 2 (c), paragraph 1.
(2). A company with limited liability may apply the provisions of the Danish financial statements Act Chapter 9a, when at the end of the first fiscal year, which begins 1. January 1995 or later, does not exceed two of the size criteria laid down in these provisions.
(3). An existing company with limited liability, which is made up by the entry into force of the Act, for the fiscal year ending no later than 31 December. December 1998, 1) refrain from applying the provisions of the Danish financial statements Act for the calculation and setting of the balance of depreciation on plant and machinery as well as other fixtures and fittings, 2) apply fiscal depreciation, amortisation and write-downs and valuations, moreover, if the company so far has followed such practices and the approximate amount by which this practice has affected the annual result in relation to valuation in accordance with the Danish financial statements Act are entered into a note.
(4). If the purchase price or production cost of a fixed asset cannot be determined without undue expense or within a reasonable period of time, when the first annual accounts drawn up in accordance with or in accordance with the Danish financial statements Act, the residual balance at the beginning of the year is considered the purchase price or cost price. Application of this provision must be explained in the notes on the accounts.
(5). In the first annual accounts drawn up in accordance with or in accordance with the Danish financial statements Act, comparative figures can be omitted if the correction of figures in prior year financial statements cannot be done without significant expense or time spent. Application of this provision should be mentioned in the notes on the accounts.
section 29. The law does not apply to the Faroe Islands and Greenland but may by Royal Decree is implemented in these regions with the discrepancies that country specificities dictate parts.



Act No. 377 of 22. May 1996 contains, among other things. following entry into force provisions: § 14 paragraph 1. The law shall enter into force on the 1. June 1996.
Paragraphs 2 to 5. (Omitted).
§ 17 paragraph 1. The law does not apply to the Faroe Islands and Greenland.
(2). § § 1-4 may, by Royal Decree be put in force on the Faroe Islands with the derogations which this country on the one hand, specific circumstances so dictate.
(3). § § 1-4 and 6-10 may by Royal Decree is put into force in Greenland of the deviations, which this country on the one hand, specific circumstances so dictate.



Act No. 449 by 7. June 2001 contains, among other things. following entry into force provisions: § 7 paragraph 1. The law shall enter into force on the 1. January 2002. Provisions relating to accounting-related conditions, applicable from the time the company released to submit annual report in accordance with the law on operators of businesses reporting of financial statements, etc. (financial statements), see. This law §§ 165 and 168.
(2). The law does not apply to the Faroe Islands and Greenland. The provisions of § § 1-4 may, by Royal Decree in whole or in part is implemented in these regions with the variances, as the special Faroese or Greenlandic circumstances warrant. The provisions of sections 5 and 6 may be equivalent in force for Greenland.



Act No. 246 of 27. March 2006 includes the following entry-into-force provisions: § 7 paragraph 1. The law shall enter into force on the 1. April 2006.
(2). (Omitted) § 8 paragraph 1. The law does not apply to the Faroe Islands and Greenland.
(2). § § 1-4 and 6 may, however, by Royal Decree in whole or in part is implemented in these regions with the variances, as the special Faroese or Greenlandic circumstances warrant.



Act No. 573 of 6. June 2007 contains the following provisions on entry into force, etc.: section 5 of the Act shall enter into force on the 1. July 2007.
section 6 of the Act shall not apply to the Faroe Islands and Greenland.



Act No. 468 of 17. June 2008 contains the following provisions on entry into force, etc.: § 55. The law shall enter into force on the 1. July 2008, see. However, paragraphs 2 to 5.
Paragraphs 2 to 5. (Omitted).
section 64. The law does not apply to the Faroe Islands and Greenland.
(2). The law may, by Royal Decree be put into force for Greenland of the variances, as the special Greenlandic conditions warrant.



Act No. 516 of 12. June 2009, as amended by sections 2 and 3 of law No. 159 of 16. February 2010, contains the following provision on entry into force, etc.: § 25 paragraph 1. The Minister for economic and Business Affairs establishes the time of the entry into force of the Act. The Minister may lay down that all or part of the Act will come into force at different times. The Minister may lay down rules, including derogating from the provisions of the Act, of which requires adjustments to the Danish Commerce and companies agency it system concerning registration and disclosure, until the necessary adjustments of the it system is completed.
(2). The law does not apply to Greenland, subject to article 20. However, paragraph 4, but can, with the exception of sections 6, 7, 13 and 15-19 by Royal Decree in whole or in part be put into force for Greenland of the variances, as the special Greenlandic conditions warrant.
(3). The law does not apply to the Faroe Islands, see. However, paragraph 4, but § § 8-10 and 12 may, by Royal Decree in whole or in part, be in force for the Faroe Islands with the derogations which the special Faroese conditions warrant.
(4). (Omitted).

Economic and business affairs, the 19. May 2010 Brian M/Ole Blöndal Official notes 1) the reference in article 20 to the Danish public companies Act Chapter 14 is amended by section 2, nr. 7 of law No. 516 of 12. June 2009 amending the Danish financial statements Act, Danish financial business Act and various other acts. § 2, nr. 7, however, is not yet valid. Instead, see the temporary provision in section 2 of the Decree No. 186 of 24. February 2010 on the partial entry into force of the Act amending the Danish financial statements Act, Danish financial business Act and various other laws apply. The provision reads as follows: ' article 2. For liquidation under section 20 of the Act on certain operators companies apply the Danish companies act §§ 216-221, section 222, paragraph 1, § 223-230, § 231, paragraphs 2 and 3, and paragraphs 232-235, as well as sections 25 and 26 of Decree No. 172 of 22. February 2010 on the partial entry into force of the law on public limited companies and private limited companies (companies Act) with the necessary deviations taking into account the specific nature of the businesses. '

2) the reference in paragraph 21 (a), paragraph 2, of the Danish public companies Act Chapter 15 is amended by section 2, nr. 10 of law No. 516 of 12. June 2009 amending the Danish financial statements Act, Danish financial business Act and various other acts. § 2, nr. 10, however, is not yet valid. Instead, see the temporary provision in section 3 of Decree No. 186 of 24. February 2010 on the partial entry into force of the Act amending the Danish financial statements Act, Danish financial business Act and various other laws apply. The provision reads as follows: ' 3. In the case of a merger under section 21 (a), paragraph 2, of the Act on certain traders enterprises finds the rules applicable to private limited companies, in the Danish companies act § 237 (3) and (4), sections 238 and 239, § 240, paragraphs 1-3, § 241, § 243, paragraphs 2 to 6, § 245, paragraph 3, 4, 6 and 7, sections 246 and 247, § 248, paragraph 1, § § § 249 and 250 and 251, paragraphs 1 and 3, as well as §§ 27-35 of Decree No. 172 of 22. February 2010 on the partial entry into force of the law on public limited companies and private limited companies (companies Act) shall apply mutatis mutandis. '
3) the reference in paragraph 21 (b), paragraph 2, of the Danish public companies Act Chapter 15 is amended by section 2, nr. 11 of law No. 516 of 12. June 2009 amending the Danish financial statements Act, Danish financial business Act and various other acts. § 2, nr. 11, however, is not yet valid. Instead, see the temporary provision in paragraph 4 of Decree No. 186 of 24. February 2010 on the partial entry into force of the Act amending the Danish financial statements Act, Danish financial business Act and various other laws apply. The provision reads as follows: ' § 4. By the Division pursuant to section 21 (b), paragraph 2, of the Act on certain traders enterprises finds the rules applicable to private limited companies, in the Danish companies act § 254, § 255, paragraphs 3 to 6, §§ 256 and 257, § 258 (1) and (2) section 259, § 261, paragraphs 2 to 6, § 263, paragraphs 3, 4, 6 and 7, paragraphs 264 and 265, § 266 (1), sections 267 and 268 and 269, section (1) and (3) and §§ 37-44 of Decree No. 172 of 22. February 2010 on the partial entry into force of the law on public limited companies and private limited companies (companies Act) apply mutatis mutandis mutatis mutandis. '
4) the reference in paragraph 21 (c), paragraph 1, of the Danish public companies Act § § 137-137 (g) is amended by section 2, nr. 12 of law No. 516 of 12. June 2009 amending the Danish financial statements Act, Danish financial business Act and various other acts. § 2, nr. 12, however, is not yet valid. Instead, see the temporary provision in section 5 of Executive Order No. 186 of 24. February 2010 on the partial entry into force of the Act amending the Danish financial statements Act, Danish financial business Act and various other laws apply. The provision reads as follows: ' 5. By cross-border merger under section 21 (c), paragraph 1, of the Act on certain traders companies find the Danish companies act § § 271-274, § 275, paragraph 1-3, § 276, § 278, paragraphs 2 to 6, § 280, paragraphs 2 to 7, 281-287, § § § 288, paragraphs 1 and 3, and section 289, as well as section 45 of Decree No. 172 of 22. February 2010 on the partial entry into force of the law on public limited companies and private limited companies (companies Act) shall apply mutatis mutandis. '
5) the reference in article 21 d, paragraph 1, of the Danish public companies act § 138 is amended by section 2, nr. 13 of law No. 516 of 12. June 2009 amending the Danish financial statements Act, Danish financial business Act and various other acts. § 2, nr. 13, however, is not yet valid. Instead, see the temporary provision in section 6 of the Executive Order No. 186 of 24. February 2010 on the partial entry into force of the Act amending the Danish financial statements Act, Danish financial business Act and various other laws apply. The provision reads as follows: ' section 6. In the case of cross-border Division under section 21 d, paragraph 1, of the Act on certain traders companies find corporate law §§ 291-294, section 295, paragraphs 1 and 2, Article 296, article 298, paragraph 2-6, article 300, paragraphs 2 to 7, §§ 301-307, § 308, paragraphs 1 and 3, § § 309 and 311-318, and section 46 of Decree No. 172 of 22. February 2010 on the partial entry into force of the law on public limited companies and private limited companies (companies Act) by analogy with the necessary adjustments. "