Act On The Opening Balance Sheet In German Mark And The New Setting Of The Capital

Original Language Title: Gesetz über die Eröffnungsbilanz in Deutscher Mark und die Kapitalneufestsetzung

Read the untranslated law here: http://www.gesetze-im-internet.de/dmbilg/BJNR211690990.html

Act on the opening balance sheet in German mark and capital new setting (D-Mark Accounting Act DMBilG) DMBilG Ausfertigung date: 23.09.1990 full quotation: "D-Mark balance sheet act as amended by the notice of July 28, 1994 (BGBl. I S. 1842), most recently by article 2 paragraph 31 of the law of 1 April 2015 (BGBl. I p. 434) has been changed" stand: Neugefasst by BEK. v. 28.7.1994 I in 1842;
 
as last amended by article 2 para 31 G v. 1.4.2015 I 434 for details on the stand number you see in the menu see remarks footnote (+++ text detection from: 3.10.1990 +++) (+++ application cf. section 60 +++) In the acceding territory advanced legislation of the former German Democratic Republic gem. Appendix II Cape. III Sachg. D section I no. 1 - as amended by article 5 No. 7 EinigVtrVbg v. 18.9.1990 II 1245 - according to d. Article 9 EinigVtr v. 31.8.1990 of conjunction with type 1 G v. 23.9.1990 II 885, 1169 mWv data.

Table of contents section 1 inventory. Opening balance sheet. Appendix subsection 1 inventory. Opening balance sheet section 1 obligation for establishing § 2 inventory § 3 inventory § 3a rectify the inventory section 4 establishment of the opening balance sheet section 5 applicable legislation subsection 2 balance sheet and valuation rules § 6 General requirements article 7 re-evaluation section 8 intangible assets section 9 land § 10 buildings and other facilities § 11 investments section 12 supplies section 13 requirements § 14 cash, cheques, credit at financial institutions § 15 deferred section 16 liabilities article 17 provisions § 18 currency translation under section 3 Annex. Comparative representation of article 19 article 20 annex comparative representation section 2 consolidated opening balance sheet. Total opening balance sheet section 21 duty establishing section 22 consolidated financial statements article 23 template - and disclosure requirements section 3 capital equipment under section 4 asset balance and equity capital backing up previously State-owned companies section 24 § 25. equalisation claims compensation liabilities section 26 equity capital guarantee under section 5 realignment of the shareholding of private enterprises § 27 realignment section 28 temporary realignment section 29 corporate relations section 30 resolution of capital depreciation accounts under section 6 preliminary earnings article 31 preliminary earnings section 4 setting and adaptation of services in German mark § 32 setting and adaptation of services in German mark section 5 procedure under section 7 examination § 33 examination article 34 conducting the examination under section 8 detection and correction section 35 determination article 36 correction value approaches under section 9 disclosure section 37 disclosure section 6 business-related regulations under section 10a regulations for financial institutions and foreign trade companies article 38 scope section 39 opening balance sheet section 40 compensation section 41 compensation liabilities section 42 comparative representation of § 43 examination under section 10 b transfer the obligation for financial institutions and trade businesses § 43a transfer duty for impaired receivables § 43 b transfer duty for impaired debts section 43 c maturity section 43d testing of drainage section 43e of the foreign trade companies under section 11 rules for insurance companies section 44 scope § 45 opening balance sheet § 46 test. Section 7 filing criminal and penalty provisions. Penalties § 47 penal provisions article 48 penalty provisions article 49 determination of penalty section 8 taxes. Fees, section 50 tax opening balance and effects section 51 Umstellungsbedingte asset changes § 52 tax defaults in other cases § 53 marketing years 1990 and tax closing balance § 54 pension provisions article 55 deposits article 56 fees section 9 procedures determining capital new. Other provisions section 56a of the simple majority of article 56 b content of the application. Examination by the Court of article 56 c Exchange and consolidation of shares paragraph 56d indebtedness or loss of half its subscribed capital section 56e loans to trust companies § 57 resolution section 58 financial year section 10 concluding provisions § 59 empowerment § 60 application section 1 inventory. Opening balance sheet. Appendix subsection 1 inventory. Opening balance sheet section 1 obligation for establishing (1) companies with headquarters (seat) in the German Democratic Republic on 1 July 1990, which are obliged to carry books, as merchants according to section 238 of the commercial code have to prepare an inventory and an opening balance sheet in German marks for the 1 July 1990, as well as an annex to article 19, which forms a unit with the opening balance sheet. Companies that must not disclose their opening balance sheet according to § 37, need not prepare an annex.
(2) companies that are required pursuant to paragraph 1 to the management of books, also 1 State-owned enterprises, farms, independent institutions and economic-governing bodies, inter-company facilities and other business entities registered in the register of the State-owned economy and State-owned goods, 2. companies in the construction, societies with limited liability in the construction deemed 3. cooperatives of all types including cooperative institutions, 4. establishments with or without legal personality of the State , the countries, districts, cities and municipalities, a trade in the sense of § 1 of the commercial code 5. institutions, foundations and associations that operate a commercial enterprise within the meaning of § 1 of the commercial code, 6 operate, Deutsche Post, 7 the Deutsche Reichsbahn, 8 branches and permanent establishments of enterprises referred to in paragraph 1 with headquarters outside of the German Democratic Republic.
(3) paragraph 1 is also the Treuhandanstalt and companies referred to in paragraphs 1 and 2 apply, located in settlement or whose assets the total enforcement procedure has been initiated.
(4) a company committed accounting leads the business one in the paragraphs 1 to 3 of designated company on behalf of own or third, but for the third-party account, it has to its duties under this Act; the provisions of this Act shall apply accordingly.
(5) companies to the accounting required, arising from creation, conversion, merger, Division or unbundling until 30 June 1991, can be viewed for the purposes of this act as to 1 July 1990; on companies that have emerged from agricultural production cooperatives, this regulation is up to December 31, 1991 and on municipal housing companies, serving land and other assets of the apartment are transferred on the residential of formerly State-owned apartment farms or by local authorities, to apply until 31 December 1997. Implement measures pursuant to sentence 1 that a company no longer exists, so this law on the defunct company does not need to be applied. Sentence 2 is also to apply if the company, which has a legal form in accordance with paragraph 2 No. 1 or 3, resolves until 30 June 1991 and the continuation of the dissolved company shall be excluded. The period pursuant to sentence 1 is maintained, if the new company or the new legal form is properly logged in until the end of the period for registration in the relevant register. A timely application are not the application accompanied by all the necessary documents, is deemed properly, if these documents be submitted without delay at the court competent for the registration.

§ 2 shall apply § 240 of the commercial code according to inventory the inventory to 1 July 1990. In the inventory are to absorb assets that the company be transferred free of charge within the statement period according to § 4 para 1 sentence 1 for the opening balance sheet on formerly people own assets after June 30, 1990.

§ 3 inventory (1) for the preparation of the inventory an inventory for the quantitative detection of the assets and liabilities does not need to be conducted, if have been completely recorded in the inventory to the 30th June 1990 the assets and liabilities and respect the principles contained in paragraphs 2 to 6. The assets acquired after June 30, 1990 and mounting debts to be included according to § 2 sentence 2 or § 4 para 3 in the inventory are to include in the inventory or to record separately. Was the auditor at prüfungspflichtigen company (§ 33 par. 1) the inventory not present, can be dispensed with only a new inventory, if the examiner recognizes the regularity of inventory to June 30, 1990.
(2) the assets are generally physically. § 241 of the commercial code may be applied, paragraph 3 No. 1 can be with the proviso that the inventory will be undertaken in the first four months of the fiscal year. The physical inventory can be avoided when the assets of the fixed assets if they are listed in accordance with the generally accepted accounting principles and a physical recording has taken place in the last twelve months.
(3) land and buildings are all legal or contractual limitations to collect, relating to its use, availability, or exploitation; they are to hold all known facts from which financial obligations may arise.
(4) receivables and payables are to gather in special lists and to demonstrate in a way corresponding to the generally accepted accounting principles. Receivables and liabilities to the State, the Treuhandanstalt, shareholders and subsidiaries (§ 21 para 1 sentence 1) are to be separately recorded. the legal basis is to specify. Liabilities to financial institutions and foreign trade companies is the reason for the credit granting to specify.
(5) in particular lists are all facts to capture, which can lead to a provision after section 249 para 1 sentence 1 of the commercial code for uncertain liabilities or loss-making contracts or to make the provisions according to section 249 para 1 sentence 2 of the commercial code are.
(6) in particular lists are all contingent liabilities, which are to be noted according to § 251 of the commercial code, and to capture all other financial obligations, which according to § 19 para 3 No. 6 in the annex to report is, as far as according to paragraphs 2 to 5 they are not taken into account.

section 3a is rectify the inventory (1) according to § 3 prescribed inventory not or not properly been conducted, carry out an inventory sufficient the requirements of § 3 para 2 to 6 on a date within the assessment period referred to article 35, paragraph 1, sentence 3. Prüfungspflichtigen companies, the examiner in the inventory must be present. The inventory and the opening balance sheet for the 1 July 1990 are to correct or supplement if based on the new inventory taking into account since 1 July 1990 according to article 238 paragraph 1 of the commercial code listed books volume or value variation of. The changes and additions are in the Appendix amount to specify and explain.
(2) in the case of prüfungspflichtigen company, the auditor's report without pointing out the regularity of inventory and inventory is to in the case of paragraph 1 grant and, as far as not to restrict or deny it for other reasons, as follows to include: "the accounts, the opening balance sheet and the appendix to my / our reasonable audit complies with statutory regulations. The opening balance sheet and the notes give a true and fair picture of the financial position of the company in accordance with principles of proper accounting. The inventory had to be rescheduled in accordance with § 3a of the D-Mark balance Act. Their regularity is confirmed."

§ To prepare 4 establishment of the opening balance (1) that are opening balance sheet and the notes in the first four months of the fiscal year. Businesses, nine hundred thousand Deutsche mark showing a balance sheet total of no more than three million in the opening balance sheet after deducting an amount under section 268 para 3 of the commercial code or that employ no more than fifty workers on July 1, 1990, may establish the opening balance sheet and the notes in the first six months of the fiscal year, if this is a normal course of business.
(2) the opening balance sheet and the annex have to give a true and fair picture of the assets in accordance with the generally accepted accounting principles in the sense of section 264 paragraph 2 sentence 1 of the commercial code. Result in special circumstances, that the opening balance sheet not give a true and fair view, so are to provide additional information, provided that such a set up is in the annex.
(3) companies for the purposes of the restructuring or privatisation transferred up to June 30, 1991 assets or liabilities to other companies, so can the resulting changes in the opening balance sheets and inventories of the companies concerned, but only unanimously, are taken into account; the transferor company is an agricultural production cooperative, takes the place of the 30 June 1991 which 31 December 1991 set 1 is also to apply if transfer all assets and liabilities of a company including the special items provided for in this Act. The remaining company needs this law to be applied not for lack of assets It is entered in a register it is so by virtue to delete. The transfer of assets pursuant to sentence 1 to 31 December 1995 is to consider if the Treuhandanstalt has requested the change of assets by a company, whose Anteile hers always in the opening balance sheet and the inventory, and a reasonable fee is not granted. Asset are transferred to another company, whose Anteile include the transfer of the Treuhand Agency, at the time the assets change in the opening balance sheet and the inventory of the acquiring company to take into account is so. The opening balance sheet is considered to be changed if the assets change in the following annual accounts is taken into account.

§ 5 applicable provisions (1) the opening balance are the sections 243 to 261 of the commercial code with the exception of article 243, paragraph 3, article 247 paragraph 3, sections 252, 253 para 1 sentence 1, para 4, § 255 par. 3, article 256 set 1 according to apply to, as far as they relate to the balance sheet and this Bill contains no derogations; Information on associated companies do not need to be made. Companies, not sole proprietor or person trading company are having section 265 para 3 to 8, sections 266, 268 §§ 270-272, cooperatives which § 336 apply 337 of the commercial code, unless this law does not contain derogations, or business-related regulations not observed § form and content of the balance sheet also para 3 to 7.
(2) in the opening balance sheet the characteristics of size not exceed section 267, paragraph 1 or 2 of the commercial code with regard to the assets or the number of workers, small businesses the facilitation of § 266 para 1 sentence 3 of the commercial code and medium-sized enterprises may take no. 1 of the commercial code already the facilitation of § 327 in establishing the opening balance sheet in claim.
Subsection 2 balance sheet and valuation rules § 6 General requirements (1) at evaluation of assets in the opening balance sheet and debt, in particular the following applies: 1. If the assessment is to assume the continuation of the company's activity, as long as there are no actual or legal circumstances.
2. the assets and liabilities are to evaluate individually at the date of the opening balance sheet.
3. it is careful to evaluate, all foreseeable risks and losses, incurred up to the date of the opening balance sheet, be taken into account, even if they only become known between the date and the day of the establishment of the opening balance sheet are namely; Profits are only taken into account if they are realized at the balance sheet date.
(2) that are on the assets in the opening balance sheet and debt applied approach and evaluation methods for the following balances binding, unless derogated from are must or a deviation is allowed according to article 252 par. 2 of the commercial code; for the first time deviation in a following conclusion of a voting rights exercised in the opening balance sheet, there is not a justified exception case. Sentence 1 shall apply also if the admissibility of method results only from this law. However, in the opening balance sheet values must not be exceeded in the subsequent balance sheets.

§ 7 assets and liabilities revaluation (1) are to re-evaluate. Assets are to be with their replacement - or recovery costs (replacement value); they may be used with the value up to a maximum which enclose them is (time value). Significant increases in value, which are occurring within four months after the balance sheet date, are taken into account. The previous use of the assets and their lagging behind technological progress are taken into account in the calculation of value by a value reduction. The values in the opening balance sheet considered for the aftermath of the acquisition or manufacturing costs, unless corrections not to undertake pursuant to § 36.
(2) on the cost of replacement is to apply Article 255, paragraph 1 of the commercial code on the acquisition cost according to. It is to assume the price conditions in the entire area of the Deutsche mark.
(3) on the cost of recovery, article 255 par. 2 of the commercial code on production costs is accordingly subject to the proviso to apply, that the expenses referred to in the sentence 3 are considered a; Interest on borrowed capital may not be used. Their replacement costs in accordance with paragraph 2 and the calculation of expenses for their own services in the German Democratic Republic to use the wage and salary conditions are the calculation of the costs for the consumption of goods and services. Increases in personnel costs within the first four months after the date of the opening balance sheet may be taken into account.
(4) in the case of depreciable assets is the value discount for previous use in corresponding application of § 253 para 2 sentence 1 and 2 of the commercial code to measure. In determining the useful life of assets write-downs are the times to consider, which are for the determination of profits tax from 1 July 1990. Depreciable assets, utilizing actual expected to exceed the useful life pursuant to sentence 2 according to sound business judgment, the value, taking into account the longer useful life may be used but not more than with the life that was permitted before July 1, 1990.
(5) assets which are no longer used in the company are to be (market value) with the expected sale proceeds after deducting the costs yet. Assets, which are still used, but before July 1, 1990 already completely written off, allowed a maximum of their realizable value.
(6) assets and liabilities according to the law of the assets are in the opening balance sheet to record the value going to the return companies according to § 11 or to return assets after §§ 8 to 18. In the enabled amount a special reserve is within the retained earnings to form, which may be used up to the fulfilment of the claim only to compensate for losses, so far as it is not required for the formation of the subscribed capital.

§ 8 intangible assets (1) prohibiting § 248 par. 2 of the commercial code for internally generated intangible of assets accounting also applies if the assets in the transformation have been acquired before 1 July 1990. A free of charge acquired goodwill may not be set. § 31 para. 1 No. 1 shall remain unaffected.
(2) purchased intangible assets of the fixed assets, which are technically or economically obsolete, may be used at a maximum of their realizable value.
(3) the amount can be used instead of the sum of the amounts resulting from the individual assessment of the segment assets acquired intangible assets, and a buyer in continuation of the company in the context of the total purchase price for the segment assets acquired intangible assets as a whole would be willing to pay. The amount is as far as it is depreciable assets to write off in corresponding application of § 255 par. 4 of the commercial code.

§ 9 basic and floor (1) land is to be with his market value. The price development in the entire area of the Deutsche mark may be regard to determining the opening balance sheet. The development of autonomous and independent expert committees for the determination of land value and for other valuations, the guideline values recommended by the Ministry of Economic Affairs can be used for the determination of the market value.
(2) use, disposition or utilization restrictions which significantly affect the market value according to general traffic, insist this should be value reduced to take into account. This applies also for future Rekultivierungs and decommissioning obligations, insofar as they relate to the owner. Expenses may not value reduction be included pursuant to sentence 2, unless a provision is recognised according to § 17 para 2a or article 249 par. 2 of the commercial code.
(3) a plot the same right unentziehbar granted free of charge to at least ten years must be on at the present value of the usual compensation for use, if the corresponding land used as fixed assets. The fixed amount is separately specify in the balance sheet or in the notes.

§ 10 buildings and other installations (1) buildings and other facilities, technical and other equipment, machines, operating and business equipment are restoration cost (§ 7 para 3) or replacement cost (§ 7 para 2), taking into account the value discount for interim use (§ 7 para 4), but no more than their fair value (§ 7 para 1 sentence 2) to apply. Lack of maintenance and major repairs are to preserve value reduced to account, unless a provision is not made according to article 249 par. 2 of the commercial code in determining the fair value.
(2) as the value of the assets referred to in paragraph 1, also their higher market value can be used to. Lack of maintenance and major repairs to the preservation of the asset shall be not value reducing considered approach of the market value, unless a provision is made according to article 249, paragraph 1, sentence 2 No. 1 or set 3 or (2) of the commercial code.

§ 11 financial assets (1) shareholdings in another undertaking pursuant to section 1 are to apply in the opening balance sheet at the amount which corresponds to the designated pro-rata equity capital (§ 26 para 1) in the opening balance sheet of the company. A compensation claim or a claim for deposit of equity against the participating companies stands to the other company, they should be among the companies liabilities towards associated separately. Other investments are to take their market value. Sentence 3 may be applied also to investments pursuant to sentence 1.
(2) shares and other securities that are admitted to or included in the OTC market on an Exchange to the official market or to the regulated market, are to be at their market value at the date of the opening balance sheet.
(3) loans, which were established before July 1, 1990, are to convert with the effect on Deutsche mark that one Deutsche mark to be used is for two mark of the German Democratic Republic.

Stocks (1) raw, auxiliary and operating materials are to be § 12 with their replacement - or recovery costs.
(2) unfinished products and services, as well as finished products are to be restoration cost. Finished products the amount may, used to if this is a simplified determination of the recovery costs, arising when the expected proceeds distribution costs and the profit expected to be discontinued. This procedure may be applied unfinished products and services, if the costs incurred until the completion in addition, which are also to be off, can be calculated reliably.
(3) were intended without processing or to resell, are with the replacement cost. Paragraph 2 sentence 2 must be applied accordingly.
(4) inventories to the paragraphs 1 to 3 are however not more than with their fair value (§ 7 para 1 sentence 1) apply. Section 7, paragraph 5, sentence 1 shall remain unaffected.

Article 13 claims (1) mark of the German Democratic Republic claims, which were established before July 1, 1990, are, as far as paragraph 2 otherwise, with the effect on Deutsche Mark converted that one Deutsche mark to be used is for two mark of the German Democratic Republic.
(2) by way of derogation from paragraph 1 rents and leases, as well as other recurring payments that become due after June 30, 1990, are translated with the effect on Deutsche mark, that one Deutsche mark to be used is for a mark of the German Democratic Republic.
(3) the principle of individual valuation is to be observed. Low-interest or non-interest bearing receivables, as well as bad debts are with the lower fair value; granted collateral must be considered. Lump-sum allowance because of the General credit risk are put off by the total amount of the claims.
(4) requirements, which correspond to liabilities according to § 16 para 3 and 4, may not be used.
(5) pending deposits are however not cut to interest, even if they are not required to evaluate such claims.

§ 14 cash, cheques, money balances are (1) means of payment in mark of the German Democratic Republic to apply only insofar as they are still legal tender.
(2) checks are to be treated as receivables.
(3) balances with financial institutions in mark of the German Democratic Republic are to apply with the amount the financial institution in German mark must bring good.

§ 15 accruals and deferrals are active and passive deferred according to section 250 of the commercial code to convert the ratio of two mark of the German Democratic Republic to a German mark, if not a different conversion ratio is prescribed.

§ 16 liabilities (1) for the mark of the German Democratic Republic-denominated liabilities, which were established before July 1, 1990, are, as far as paragraph 2 otherwise, with the effect on Deutsche Mark converted that one Deutsche mark to be used is for two mark of the German Democratic Republic.
(2) by way of derogation from paragraph 1 following on mark of the German Democratic Republic are denominated liabilities with effect on Deutsche Mark translated, that one Deutsche mark to be used is for a mark of the German Democratic Republic: 1. wages and salaries in the amount of the after collective agreements applicable may 1, 1990, as well as scholarships, which become due after June 30, 1990;
2.
Pensions which become due after June 30, 1990, unless otherwise stated in article 20 of the Treaty establishing a monetary, economic and social Union between the Federal Republic of Germany and the German Democratic Republic;
3. rents and leases, as well as other recurring payments that become due after June 30, 1990, with the exception of recurring payments out of and into life insurance and private pension insurance.
(3) liabilities be included in the opening balance sheet not to, if a written explanation of the creditor, that he pay only will require 1, insofar as the fulfilment of the profit for the year is possible, and 2. in the case of dissolution, insolvency or over-indebtedness of the company behind all creditors resigns that have not made such a declaration.
The total amount of such obligations is in the notes under the contingent commitments separately to indicate if they not be deported on the basis of an agreement with the company as subordinated capital.
(4) liabilities, which are adopted or acquired free of charge by a third party to determining the opening balance sheet, are not to be accounted.

Article 17 provisions (1) are uncertain liabilities, which were established before July 1, 1990 in mark of the German Democratic Republic, to convert such liabilities denominated in Deutsche mark and as reserves.
(2) provisions for impending losses from pending transactions are according to § 249 para 1 sentence 1 of the commercial code to make in the opening balance sheet. You have to adjust, especially if you expect that a paragraph, or sourcing business leads to fulfillment to the amount, which exceeds the consideration, or leads to a depreciation on the delivered item.
(2a) provisions for measures to ward off dangers for man and environment, posed by environmental degradation, and to the Elimination of impacts on the environment are to make, as far as there is a legal or contractual obligation and the type and extent of the necessary and reasonable measures are proven or arranged by the competent administrative authority. The provision is also to make, as far as the implementation of measures leads to acquisition or manufacturing costs for assets that to write off are according to § 253 para 2 sentence 3 or paragraph 3 of the commercial code at the time of the purchase or production in full. The default is to resolve, if the measures are not launched until December 31, 1997 and for the time after an administrative act of the competent authority or an agreement with that exists, nor the company has informed them of the presence of hazards or adverse effects within the meaning of sentence 1.
(3) provisions, which are not referred to in paragraph 1, to convert are the amount in German marks, which is necessary according to reasonable commercial assessment, to meet the commitment.
(4) are formed in the opening balance provisions for the initial application of § 249 para 1 sentence 1 of the commercial code, is in the amount of these provisions, as far as it not is offset by a compensation claim according to § 24 para 1 sentence 1 or § 40, to expel on the assets side separately from provisions in a special loss account; This does not apply to provisions for uncertain return obligations according to § 7 paragraph 6. The activated amount is in the following years each in expenses to write off, resulting in deferred obligations. In the amount of the special loss account a special reserve is within the retained earnings to form, which may be used only to offset losses; in case of use or provision in a subsequent financial statements, the reserve amount of each resolution is freely available, as far as it is not required to compensate for the loss of a. The activated amount is not suitable to eliminate a deficit that is covered not by equity or replace 28 paragraph 1 pending deposits to the formation of the subscribed capital or capital depreciation account according to § 26 para 4, §.
(4a) a provision is resolved, without that it was included in the claim, also the special loss account the dissolved amount will be written off. Where a provision does not claim is taken, because an exemption, in particular under article 1 § 4 para 3 is done environmental framework law, or the obligation in another manner by a third party is economically supported, so, if the provision for a compensation claim under section 24 has led, the dissolved amount with the balance requirement to charge if it according to § 36 paragraph 4 can be changed. Is the compensation demand already repaid by the debtor or assigned by the creditor on a third party or pledged been, is the amount which would have can be charged pursuant to sentence 2, by whoever has resolved the provision, to the original obligor to pay back. Sentence 3 also applies if a compensation claim asserted by the company thus slipped, that the debtor old loans of the company has assumed guilt-releasing.
(4B) a compensation claim or a special loss account in cases of paragraph 4 or 4a the provisions are not unique to, is to suggest that provisions have led advance after paragraph 2a to a compensation claim.
(5) article 249, paragraph 1, sentence 2 No. 1 of the commercial code does not need to be applied. section 249 of the commercial code remains otherwise unaffected. Instead of a value discount according to § 9 para 2 sentence 2 or § 10 para 1 sentence 2 or paragraph 2 sentence 2 can be made a default no. 1 or set 3 or (2) of the commercial code after article 249, paragraph 1, sentence 2, if the conditions for this are met. § 16 para 3 and 4 shall apply accordingly.

§ 18 to convert currency on foreign currency-denominated assets, liabilities and accruals and deferrals, as well as at the balance sheet date are not cash transactions using the spot rate on the balance sheet date in Deutsche mark. Outstanding forward transactions shall be converted to the forward rate on the balance sheet date. Claims and delivery claims are with the bid price, to convert liabilities and obligations with the ask price.
Subsection 3 Annex. Comparative representation of § 19 you are annex (1) In the annex on the position of the opening balance sheet of accounting and valuation methods, specify in particular the reassessment applied, and to explain that an expert third party can assess the value approaches in particular, the benchmarks are estimates to represent. In the exercise of electoral rights are significant impact on its consolidated financial statements be presented separately. Besides those items to record to the individual items of the opening balance sheet are prescribed or are to make in the annex because they were taken in the exercise of a right to vote no in the opening balance sheet.
(2) in the annex are are taken measures to describe, for the period after June 30, 1990 or planned to adapt the company to the changed conditions. These include in particular changes of the corporate purpose, task, or introduction of products, closures, split up or merged with another company. The estimated costs of the restructuring must be indicated.
(3) in annex shall also be indicated: 1 to the liabilities in the balance sheet a) the total amount of liabilities with a remaining term of more than five years, b) of the total amount of liabilities which are secured by liens or similar rights, specifying the nature and form of the collateral;
2. the breakdown of the information required in paragraph 1 for each item of liabilities according to the prescribed format, provided that these data not arising from the balance sheet;
3. to the land in the opening balance sheet, as well as to the buildings and other buildings are all legal or contractual limitations to note: relating to its use, availability, or exploitation. There are also all facts indicate that future financial obligations may arise in particular for large repairs, Rekultivierungs - or waste disposal charges;
4. for installations in the opening balance sheet and machinery, other equipment, operating and office equipment are their condition (average wear and tear, technical state) and their future applications to describe; the estimated investment needs is as far as predictable to give in the next four years,
5. claims that may arise against the company because the previous owner of the company, have been dispossessed by divisions, companies or assets.
6. the total amount of other financial obligations, which will not in the balance sheet and also not according to § 251 of the commercial code, or on the basis of other provisions of this Act to specify that have provided this information for the assessment of the financial position of importance are; of obligations to shareholders shall be separately;
7. the number of employed workers;
8.
all members of the management body and a supervisory board, even if they are only provisionally ordered, with the family name and at least one advertised given name. The Chairman of a supervisory board, his Deputy and a possible Chairman of the management body are called such;
9. name and seat other companies of which the company or a person acting on his behalf, has at least the fifth part of the shares; In addition, the amount of the share capital and equity in the opening balance sheet or a deficit covered by equity capital, these companies to give are on the calculation of interest shall be applied according to § 16 para 2 and 4 of the Stock Corporation Act;
10 provisions, not separately disclosed in the balance sheet in the line item "other provisions", are to explain, if they have a non-negligible extent. Expense reserves are always separately to specify and explain;
11 name and seat of the immediate parent company, as well as the place of disclosure of the consolidated opening balance sheet drawn up by the parent undertaking.
(4) you can be avoided in paragraph 2 and 3 required information and explanations, as far as they are 1 for the presentation of the net assets of the company pursuant to section 264 para 2 of the commercial code of minor importance or of paragraphs 2 and 3 of no. 4 and 9 according to sound business judgment are 2nd in the cases, to inflict a considerable disadvantage to the company.

Article 20 comparative representation companies that are financial institutions or foreign trade companies have to accompany the Appendix a comparative presentation as an attachment from the resulting in what extent the post of the final balance sheet as of June 30, 1990, in comparison with the position of the D - Mark opening balance sheet as of 1 July 1990 have changed. The differences compared to the closing balance sheet arising from the revaluation of assets and liabilities are broken down according to the position of the D - Mark opening balance sheet to represent in a separate evidence under the name of revaluation differences. The revaluation differences are to be documented by references.
Section 2 consolidated opening balance sheet. Total opening balance sheet section 21 duty for establishing (1) establishing an opening balance sheet debtor companies which have the majority of the shares in another company (subsidiary) (parent company), have no later than within two months after the end of the lodgement date for small businesses after section 35 subsection 1 sentence 3 for the 1 July 1990 to set up a consolidated opening balance sheet in German mark, as well as an annex in accordance with article 22, which forms a unit with the consolidated opening balance sheet. A parent company is exempt from the obligation to prepare the consolidated opening balance sheet and of the annex, if at the date the balance sheet amounts in the opening balance sheets of the parent company and the subsidiaries to be included after deduction of incorrect amounts designated in the opening balances on the assets side total not exceed fifty million deutsche mark or the Group companies employ a total of not more than five hundred people.
(2) the consolidated opening balance sheet and the notes are clear and easy to set up. You have to give a true and fair picture of the financial position of the group in accordance with the generally accepted accounting principles in the sense of article 297 para 2 sentence 2 of the commercial code. Special circumstances mean that the consolidated opening balance sheet not gives a true and fair view within the meaning of sentence 2, additional information to make are to the consolidated financial statements.
(3) in the consolidated opening balance sheet parent company and all subsidiaries are without to include consideration of the seat of the subsidiaries, unless the inclusion not according to sections 295, 296 of the commercial code is omitted. The composition of the group is changed within the statement period, these changes treat as if they were already to July 1, 1990 are entered. This also applies to companies who are established within the statement period after July 1, 1990.
(4) on the consolidated opening balance sheet are the sections 5-19 of this act as well as the sections 296 to 298, 300, 301, 303, 304, 307, 308, the legal form and the business branch of the companies included in the consolidated opening balance sheet domiciled within the territorial scope of this Act regulations with the exception of § 296 para 1 No. 3 of the commercial code according to apply for 310 to 312 of the commercial code and the , as far as they relate to the balance sheet of large corporations and the consolidated opening balance sheet requires no deviations due to their nature. The application of § 308 of the commercial code can be assumed, that the opening balance sheets of subsidiaries and parent company headquartered in the territorial scope of this Act are consistently rated.
(5) the Treuhandanstalt and the escrow companies founded by her make a total opening balance sheet in a simplified form in the first two months after the lodgement date for the consolidated opening balance sheet according to § 35 par. 1 sentence 3 instead of a consolidated opening balance sheet and instead of a consolidated financial statements on a total Annex. You summarize each the total or consolidated opening balance sheet of subsidiaries. The capital consolidation § 301 of the commercial code can be placed under, a difference arising after clearing on the assets side is business or goodwill or any emerging liabilities balance equity insofar as attributable to the latter not on failure provisions. § 303 of the commercial code of the debt consolidation needs to be applied only to transactions between the parent company and its respective subsidiaries. Also, intermediate results need only out to be counted if they are based on deliveries and services between the posting company and its respective subsidiaries according to § 304 of the commercial code. In addition, you are on the installation, testing, assessment and disclosure under this Act applicable to the consolidated opening balance sheet and the consolidated financial statements rules apply mutatis mutandis.

§ 22 (1) notes to the consolidated financial statements is to apply article 19 accordingly. From the annexes of the subsidiary companies are however only those items collectively to take over, which is for the evaluation of the Group's essential.
(2) to the consolidated financial statements, you are also to provide required information according to section 313 subsection 2 of the commercial code. Section 313, paragraph 3 of the commercial code shall apply.

Section 23 template - and disclosure requirements (1) each parent company may by its subsidiaries all clarifications and evidence of demand which requires the preparation of the consolidated opening balance sheet and the consolidated financial statements. This also applies to information relating to other tasks conferred on the company by law.
(2) the subsidiaries have their opening balance sheet each parent company including annex and, if they are at the same time parent company to submit their consolidated opening balance sheet including consolidated financial statements immediately after their installation and the audit reports without delay after their receipt. The documents are subsequently modified, the modified versions are immediately after the change to submit. The documents are submitted prior to its determination, is the determination to announce as soon as this is done.
Section 3 capital equipment under section 4 financial compensation and equity capital backing up previously State-owned companies in section 24 (1) companies that so far people own assets were transferred free of charge to the Treuhandanstalt or one of its subsidiary companies to privatize the State, the municipalities, cities, circles, countries or other sources of wealth, and on July 1, 1990, in whose sole ownership were compensation, and are not financial institutions, foreign trade companies or insurance companies , will receive, resulting in establishing the opening balance sheet, that they would have to expel a loss covered by equity capital, starting with 1 July 1990 to delegate interest-bearing receivables (balance requirement) in amount of separately one, when the debtor rejects the compensation claim not within three months after submission of the opening balance sheet. He has to reject it, if the company is not capable of rehabilitation. The rejection is the company in writing. The compensation claim and accompanying interest rates lifted with the receipt of the rejection notice.
(2) the compensation claim reduces the amount of the loss can be compensated by taking advantage of approach - or review voting rights. section 36 shall remain unaffected. The compensation claim is to pay interest on that a devaluation because of lower interest rates is not necessary according to section 13, paragraph 3, sentence 2.
(3) the compensation claims against the company, to the privatization and reorganization of State-owned assets the share rights of the legitimate company have been transferred free of charge. Are companies as formerly people own assets the State, the countries, districts, cities, communities or other assets carriers by law has been transferred, the compensation claim against these points. Share rights free of charge onto the Treuhand agency subsidiary, are the debtors of compensation claims. They can claim themselves compensation referred to in paragraph 1 against the Treuhandanstalt, when they are a direct subsidiary of the Treuhand Agency.
(4) the company shall notify the debtors of compensation claims if is such a looming in establishing the opening balance sheet. The rights to the debtor after article 23 from 1 July 1990. The Treuhand Agency shall forthwith inform the Minister of finance and the Ministry of finance about compensation claims that are directed against the Treuhandanstalt.
(4a) the company has the debtors of compensatory claims to teach once a settlement of the compensation claim or a repayment obligation according to § 17 paragraph 4a set 2 and 3 or § 36 para 4 sentence 5 results. Compliance with the disclosure it is the examiner ordered for the audit of the financial statements in relation to the audit of the financial statements. He has to complement the auditor's report if the information is there have been no pursuant to sentence 1 § 322 of the commercial code accordingly.
(5) parent undertaking, which are debtors of a compensation claims referred to in paragraph 1, set a participation cancellation account equal to their liability from this compensation claim on the assets side for their opening balance sheet so far as to expel is not a loss covered by equity capital. The activated amount is each amounting to pay down the balance claim to write off in subsequent years. In the amount of the interest cancellation account a special reserve is within the retained earnings to form, which may be used only to offset losses; the special reserve is freely available according to the resolution of the interest cancellation account, as far as it is not required to compensate for a loss occurred. The activated amount is not designed to replace outstanding deposits to the formation of the subscribed capital or capital depreciation account according to § 26 para 4, § 28 para 1.

§ 25 stems compensation liabilities (1) when establishing the opening balance sheet of enterprises referred to in section 24, subsection 1, sentence 1, that higher equity capital to expel would be than the for the tangible fixed assets to carrying amount, less for the amount to be allocated from land previous over to 1 July 1990, that so in the excess amount with a separately to be compensation payable will be charged. The minimum capital required by law for the legal form of the company or its activity is reached however. section 36 shall remain unaffected. In the calculation of compensation liabilities, special reserves are according to § 17 para 4 sentence 3 not to take into account article 24, paragraph 5, sentence 3 and share capital, which is made pending deposits or a capital depreciation account according to § 26 para 4, § 28. Assets of the fixed assets, which are to be back under the property Act, and the liability or provision for the obligation to return are not to be considered in the calculation of the compensatory liability according to § 7 paragraph 6. Section 24, paragraph 2, sentence 1 shall apply accordingly.
(2) creditors of the obligation is the person who would be debtors of compensation claims in making a compensation claim according to § 24 para 3. On the interest rate of the compensation liability is to apply section 24 para 2 sentence 3 according to. The shareholders may adopt the compensation liability wholly or partly as creditors. The issued amount is to ascribe the investment book value in the opening balance sheet of the parent company according to § 11 para 1 sentence 1.
(3) the company shall notify the creditor of the compensation liability if is such a looming in establishing the opening balance sheet. The creditors are the rights according to § 23 from 1 July 1990.
(4) parent company, that are creditors of a compensatory liability referred to in paragraph 1, add a corresponding claim this amount on the asset side of their opening balance sheet. Amounts accruing to the company to repay the compensation liability of the subsidiary, are each charged with this requirement.
(5) investments or reason and soil free of charge have on a company with effect to 1 July 1990, so the Treuhandanstalt can demand the surrender of the assets, if the insolvency or over-indebtedness of the company, or if it is decided the dissolution of the company. As far as creditors, whose Ansprüche incurred after July 1, 1990, are disadvantaged by the transfer, they are by the Treuhandanstalt until the height of the market value of the transferred assets to indemnify; in the case of the opening of the overall enforcement this claim may be asserted only by the administrator.
(6) the Treuhandanstalt can require companies, whose Anteile her and not return pursuant to section 6 of the property law are, the transfer of assets. In the period from 1 July 1990 to depreciation incurred at the time of the transfer, value adjustments and provisions are to correct under section 36. Paragraph 5 sentence 2 is apply mutatis mutandis.

Section 26 equity capital assurance (1) companies within the meaning of § 24 para 1 sentence 1 have to expel the amount as equity to the total amount of the assets reported on the asset side of the opening balance sheet including the special items to be adjusted under this Act and the accruals and deferrals is higher than the total amount of debt reported on the liabilities side and the deferred.
(2) the formation of a subscribed capital is the company after the law applicable to its legal form prescribed, this is so in the amount provided for in the statute or in the social contract, or at least newly set in the amount of the statutory minimum capital. § 27 para 2 sentence 2 to 5, para 3 and 7 shall apply.
(3) the equity less the special reserves, determined according to paragraph 1 is insufficient according to § 17 para 4 sentence 3, section 24, paragraph 5, sentence 3 and the preliminary earnings according to § 31 para 1 sentence 2 to the formation of the subscribed capital shortfall as a pending deposit on the assets side before the fixed assets is so separately. Rules governing the legal form of the company apply for the deposit of capital. The minimum deposit is not completely effected, the loss is considered called. The requirement shall not apply if the shareholders decides upon the dissolution of the company within the lodgement date for the opening balance sheet or within this period, the opening of the overall enforcement is requested. Article 24, paragraph 4, sentence 3 shall apply accordingly. § 19 para 4 of the Act relating to the limited liability companies is not applicable.
(4) the shareholders did his deposit after transfer of the legal form of a private company until June 30, 1990, as a deficit as a result can be compensated in cases of paragraph 3, that on the asset side of the opening balance sheet in place of the outstanding contribution in corresponding application of § 28 para 1 and 2 under the local conditions a capital depreciation account is shown. § 30 shall apply.
Subsection 5 realignment of the shareholding of private companies section 27 is realignment (1) this subsection to apply to all companies on the article 24 pursuant to its paragraph 1 sentence 1 does not apply is, even if they according to § 1 paragraph 5 as July 1, 1990 are considered established or is gone over on it according to § 4 para 3 the entire assets of a company than July 1, 1990. Equity is in § 26 para 1 to expel designated amount.
(2) public limited liability companies and limited partnerships on shares have their capital stock, limited liability companies their share capital in the amount provided for in the statute or in the social contract, or at least newly set in the amount of the statutory minimum capital. The subscribed capital can be set with a higher amount if in establishing the opening balance sheet after deduction of the reserve pursuant to § 31 higher equity arises. In public limited liability companies and limited partnerships on shares of the legal reserve, the excess amount is to assign companies with limited liability of a special reserve, which may be used only to offset losses or to the capital increase from company funds. A legal reserve pursuant to sentence 3 qualified or special reserve may be dissolved or reclassified to free capital reserves, as far as this reserve not to cover the in the balance in the resolution will be, designated assets is required. In all other cases, the resolution or reclassification to free capital reserves appropriate application of relevant for the respective legal form rules over the capital reduction is allowed.
(3) the shareholders may receive any payments due to the realignment and not be exempted from the obligation to pay deposits; Article 57, paragraph 1, sentence 1, § 62 of the Stock Corporation Act, section 30, paragraph 1, to apply article 31 of the law on limited liability companies are on the reserves shown in the opening balance sheet according to. This does not apply to measures of the Treuhandanstalt according to § 25 paragraph 5 and 6 (4) General partnerships and limited partnerships have in addition the custody deposits of their limited partners in appropriate application of paragraphs 2 and 3 to redetermine the deposits of their shareholder, as far as such are agreed in the memorandum of Association, and limited partnerships. The withdrawal right of members according to article 122 of the commercial code should not mean that equity in the opening balance sheet is lower than according to § 31 personally liable partners have the sum of the amounts reported on the asset side too much taken amounts to be refunded. Payments to limited partners lead to a such reduction of the equity capital, these are considered repayment of the contribution to section 172 (4) of the commercial code.
(5) cooperatives have the business assets, to redetermine the shares and the arrest totals; Paragraph 2 is set 2 and 3 and paragraph 3 apply mutatis mutandis.
(6) in the case of the realignment, the shares on the following amounts can be made: 1. shares on a par value of fifty German mark or on higher nominal, the loud on full hundred Deutsche mark, 2. the shares in private limited companies on five hundred Deutsche mark or any higher amount is divisible by one hundred, regardless of the number of shareholders , 3. the shares at cooperatives fifty Deutsche mark, or any higher amount in full fifty Deutsche Mark-denominated.
(7) in the opening balance sheet are the subscribed capital and the reserves amounting to tell of how they should pass the realignment.
(8) the provisions of paragraphs 2 to 7 is a company in a legal form according to § 1 paragraph 2 each accordingly apply to no. 1 to 7, if it differentiates between a subscribed capital and reserves according to the law applicable to its legal form; While the arrangements for the legal form is each to apply, which comes of the company to the next.

§ 28 temporary realignment (1) where a final realignment after § 27 may by companies that are not banks or foreign trade companies, the realignment for the time being in the manner be carried out, that the subscribed capital in the closing balance in mark of the German Democratic Republic (share capital, capital, deposits, profit participation rights, business credit) with the same applied amount in German marks in the opening balance sheet and the difference , to the amount of the subscribed capital exceeds equity calculated in establishing the opening balance sheet as capital depreciation account is set on the asset side of the opening balance sheet.
(2) the amount assigned as the capital depreciation account, must not be higher than nine tenth of the subscribed capital. A capital reserve may not be retained. A retained earnings may be retained insofar as this has been made pursuant to § 31 and can be expected to sound business judgment that the company can repay the capital depreciation account from future annual surpluses. The company is obliged to compensate the capital depreciation account within five business years after the date of the opening balance sheet. Reversals are due to the correction of value approaches to use article 36, as well as the annual surpluses to repay. An other use is inadmissible as long as the capital depreciation account.

§ 29 corporate relations (1) the ratio of the rights attached to the shares to each other is not affected by the realignment.
(2) contractual relations of the company to third parties, that is, depend on the existing capital or income conditions of the distribution of profits of the company, the principal amount or the value of their shares or their subscribed capital or in any other way determined by the new capital occurred through the realignment or profit ratios. Third parties need to be occurring through the realignment reduced of their rights apply, insofar as it is based on that in the opening balance sheet the subscribed capital to the reserves in one by § 27, 28 not conditional favourable ratio is §, than is the case in the closing balance pursuant to sentence 1 not against it.
(3) If a capital increase decided during the existence of a capital depreciation account, so is any shareholder upon his request to allocate a portion of the new shares corresponding to its share of the existing subscribed capital, except that a third party has acquired the shares and agreed to offer them to the shareholders for subscription.

Section 30 will offset a capital depreciation account within the period specified in article 28, paragraph 2, sentence 4 resolution of capital depreciation accounts (1), the body responsible for corporate actions of the company at the latest when taking decisions on the use of profits from the annual financial statements of the fifth year after the date of the opening balance sheet has to adopt the measures that are required to the capital depreciation account in other ways than through eradication , in particular due to reduction of the subscribed capital.
(2) the measures referred to in paragraph 1 are carried out without delay. Their implementation is considered final realignment. There are rules governing the legal form of the company, to apply paragraphs 229 to 236 of the Stock Corporation Act simplified capital reduction on shares of joint-stock companies and limited partnerships on the reduction of the subscribed capital.
Subsection 6 preliminary earnings article 31 preliminary earnings (1) may take, if they are not banks or foreign trade companies, to be able to meet, to a retained earnings form the following measures: 1 the not for acquired intangible assets of fixed assets may be used on the amount, an acquirer of the company might be set up in its continuation in the context of the overall purchase price for these assets. A goodwill must be taken into account.
2. the expenses for the start-up and expansion of business pursuant to section 269 set 1 of the commercial code may be activated. Include all measures that have been taken after March 1, 1990 and are suitable to establish the competitiveness of the company.
3. grants, subsidies and other financial benefits which are granted without repayment obligation by third parties for investment, may be activated if the order for the investment has been granted binding until the end of the placement period for the opening balance sheet.
In height of no. 1 to 3 enabled amounts is 1 sentence to form a retained earnings, that is until the enabled amounts as temporary redemption on the liabilities side.
(2) the scheduled amount is no. 1 pursuant to paragraph 1 to depreciate as planned during the period that corresponds to the average remaining useful life of segment assets acquired intangible assets revalued according to § 7 of the company. Comparative figures are missing or the conditions are not the same, the amount in each following year is so to wipe out at least a quarter by depreciation.
(3) for the implementation and expansion of the business are no. 2 designated amounts referred to in paragraph 1 to wipe out at least a quarter by depreciation in each following year.
(4) that enabled amounts are no. 3 referred to in paragraph 1 in the following years income to rebook, if their accounting ability has occurred. Claims become void pursuant to paragraph 1 No. 3 later, the amount used to be so directly with the reserves charged.
(5) of paragraph 1 Nos. 1 and 2 shall be made only to the extent use, as according to sound business judgment it can be assumed that the company in the position will be to cover the expenses arising from this and a distribution of profit in the amount of interest income from a compensation claim under section 24 of the current income without impairment of equity in the opening balance sheet.
(6) be enabled amounts 1 or 2 referred to in paragraph 1, so profits may be distributed until its eradication through depreciation only, if the remaining after the distribution at any time resolvable retained earnings plus a profit carried forward and less of a loss lecture at least correspond to the amount. At a loss are to charge referred to in paragraph 2 and 3 with the retained earnings in the amount of depreciation. section 36 shall remain unaffected.
(7) amounts are article 26, para. 3 and capital depreciation account 25 referred to in paragraph 1 in the calculation of compensation and compensation liabilities according to §§ 24, the pending deposit after according to § 26 para 4, not to take into account article 28, paragraph 1.
(8) amounts enabled referred to in paragraph 1 and the retained earnings in these amounts are separately under appropriate designation and explain in the notes.
Section 4 setting and adaptation of services in German mark § 32 fixing and adjusting services in German mark
(1) refer to contracts until after June 30, 1990 to meet, on prices, which so far have been established according to government price regulations, but who no longer are subject to a price fixing, the price is true, when a pricing did not take place until June 30, 1990, to determine debtor by the creditor by means of declaration compared to the payment. The hit determination is only binding for the other part, if it is equitable. It is not equitable, the determination is made by judgment; the same applies if the determination is delayed.
(2) (dropped out) (3) the redefinition is done in the cases of paragraphs 1 and 2 in its reasonable discretion the installation deadline for the opening balance sheet, a provision under § 17 para 2 only to make, if you expect that also the new fixed charge will lead to a loss.
Section 5 procedure under section 7 examination § 33 examination (1) the opening balance sheet and the annex, but without the comparative representation according to § 20, are to be examined by an auditor. No testing took place, so the opening balance can not be determined. Corporations and cooperatives, whose balance sheet total does not exceed nine hundred thousand Deutsche mark after deducting an amount under section 268 para 3 of the commercial code three million in the opening balance sheet or which employ not more than fifty workers, on the date need not check the opening balance sheet and the notes to allow, as far as they are not financial institutions or foreign trade companies or successor in title of a prüfungspflichtigen company according to § 1 section 5 or § 4 para 3. Sole traders and commercial partnerships need to not check the opening balance sheet, insofar as they are not financial institutions.
(2) the company founded in the period from March 1, 1990 to June 30, 1991 or transformed by law or on the basis of a decision in a private legal form been, inspecting the creation or conversion can be included in the audit of the opening balance sheet. This applies also for the evaluation of contributions in kind.
(3) the consolidated opening balance sheet and the consolidated financial statements are to be examined by an auditor. No testing took place, so the consolidated opening balance sheet can not be determined.
(4) be the audited documents modified after submission of the audit report, the auditor has again these documents to check, so far as it requires the change. On the outcome of the examination is to report; the auditor's report is to complement accordingly.
(5) § 317 of the commercial code on subject matter and scope of the audit is to apply subject to the proviso that also the inventory in the examination to include is. The comparative representation is to examine according to § 20 at financial institutions and trade businesses.
(6) without prejudice to the arrangements in paragraph 1 sentence 3 need cooperatives of all types including cooperative institutions, which according to the law applicable to them at a later date to resolve are, if they are not converted, and you show a balance sheet total of not more than one hundred and twenty-five million deutsche mark in its opening balance sheet or employ not more than five thousand workers at the balance sheet date and are not financial institutions or foreign trade companies , to leave when they have transferred the establishment of the opening balance sheet and of the annex on a person, which as a chartered accountant or certified public accountant after the order of Chartered Accountants has been publicly appointed or recognized as auditors or as tax advisor or tax representative appointed according to the tax law recognized as tax firm or as an association to the leadership of the label "Agricultural book agent" authorized or lawyer for tax law is not to examine the opening balance sheet. The obligation to check eliminates only if the person be explained in writing that 1 the opening balance is based on a proper inventory or inventory has been brought up according to § 3a and 2. the opening balance sheet and the annex of her in accordance with the generally accepted accounting principles as set up, that these documents provide a true and fair picture of the assets within the meaning of section 264 paragraph 2 sentence 1 of the commercial code.
The opening balance sheet is to attach the declaration pursuant to sentence 2 and an explanation of the Management Board from the results that it has presented all the documents to the person posting and all information, which were required for the installation. Section 323 paragraph 2 of the commercial code concerning liability for negligence is to be applied accordingly. Sentences 1 to 3 shall apply accordingly on the examination associations referred to in article 34, paragraph 2.

§ 34 conduct of the examination (1) auditor can after the order of chartered accountants be ordered the Federal Republic of Germany and sworn auditors and approved accounting firms. Limited liability companies whose balance sheet total does not exceed five hundred thousand Deutsche mark after deducting an amount under section 268 para 3 of the commercial code fifteen million in the opening balance sheet or which employ not more than two hundred and fifty employees, at the date of the opening balance sheet can check their opening balance sheet also by after the order of Chartered Accountants sworn auditors ordered the Federal Republic of Germany or recognized book audit firms.
(2) the company is a cooperative, the checks provided for in article 33 are subject to the following conditions instead of in paragraph 1 sentence 1 designated persons by a test Association, which has been awarded the right of review under section 63 of the Act concerning the employment and economic cooperatives. The examination Association is only entitled to examination, provided that more than half of the members of its Board of Directors is accountant pursuant to paragraph 1 sentence 1. The examination Association has only two Board members, so one must be accountants set 1 of them referred to in paragraph 1. The Association, the cooperative as a member owned signed an agreement on conducting trials with a testing Association in the Federal Republic of Germany, so this is responsible. Article 55 par. 3 of the Act concerning the employment and economic cooperatives shall remain unaffected.
(3) the company is a savings bank, so the checks provided for in article 33 must perform by way of derogation from section 319 para 1 sentence 1 of the commercial code by the examination body of Sparkassen - und Giroverband. The test must only perform by the examination body if the head of the examination body meets the requirements of § 319 of the commercial code. In addition, it must be ensured that the examiner can independently perform the test by the instructions of the organs of the Sparkassen - und Giroverband.
(4) on the appointment of the Auditor in the cases of paragraph 1 § 318 of the commercial code shall apply, that the managing body of the company can provisionally order the examiner, is in particular to reach his presence during the inventory. The confirmation of the persons appointed to the appointment of the auditor according to § 318 of the commercial code is immediately catching up to do.
(5) on the test, the sections 317, 318, 319 are to apply paragraph 2, 3, sections 320 and 323 of the commercial code.
Subsection 8 detection and correction section 35 determining (1) the opening balance sheet and the annex as well as the consolidated opening balance sheet and the consolidated financial statements require the finding. The rules for the preparation of these documents are to apply in determining. The finding is in sole proprietorship by the holder to bring in other companies of the shareholders or the otherwise competent organ in the form prescribed for voting according to the legal form of the company immediately after submission of the documents; the opening balance sheet and the notes are the balance sheet, the consolidated opening balance sheet and the consolidated financial statements no later than within two months after the placement period according to § 21 para 1 sentence 1 no later than before the end of the twelfth month, and from small companies according to § 4 paragraph 1 sentence 2 no later than before the end of the 15th month after. The total opening balance sheet and the total Annex are to determine within two months after the placement period according to § 21 para 5. The management body has for this purpose immediately after his submission to submit to be firmly documents immediately after their installation and the audit report the body convened to determine. The company has a Board of Directors, the Supervisory Board has to consider the documents in appropriate application of section 171 of the Stock Corporation Act and to report on the outcome of the examination in writing.
(2) which can not be set 1 documents referred to in paragraph 1 is detected when the auditor has been denied. The opening balance sheet or the consolidated opening balance sheet is null and void if it has been tested at existing verification requirement in the prescribed form or not found. Be changed after examining the documents, a decision on the adoption becomes valid, if an auditor's unqualified in terms of changes has been granted on the basis of the review.
(3) the management body has immediately with the documents to be set to present a report the finding organ, in the proposals for the modification of the shareholding and the essential circumstances are set out for the valuation of assets and for the proposals on the realignment have been decisive, unless these explanations are not annexed or consolidated financial statements.
(4) the opening or opening balance determined before a deadline, which requires the consideration of financial or valuations at a later date or allows an immediate change is not required. The resulting adjustments can be considered later in the context of the preparation of the next financial statements pursuant to § 36.

Section 36 is correction of valuations (1) when drawing up subsequent annual accounts, that assets or special items wrongly or with a high value are been recognised in the opening balance sheet not or with a too low value or debt, or special items, the failure approach to catch up or the value approach to correct, if it's a substantial amount in the subsequent balance sheet;. This also applies if the assets or liabilities at the balance sheet date are no longer exists, but only for the accounts following on the change in asset. The profit is not he in a special reserve according to § 27 para 2 sentence 3, when companies advance in the legal reserve to its prescribed height adjust, as far as a loss from a reduction in the special loss account of provisions according to § 17 para 4 or the compensation claim pursuant to § 24 para 1 or of participation cancellation account according to § 24 para 5 or the pending deposit according to § 26 ABS. 3 or capital depreciation account according to § 26 para 4 , Is to charge article 28, paragraph 1 or a loss from the increase of compensation liabilities pursuant to § 25 para 1.
(2) results when drawing up subsequent annual accounts, that assets or special items wrongly or with a high value or debt, or special item do not or at a low value have been used to in the opening balance sheet, the value approach to correct or the failure approach to catch up if it's a substantial amount, so in the subsequent balance sheet the same applies if such assets or liabilities at the balance sheet date are no longer exists, but only for the accounts following on the change in asset. The loss is not open with equity, to charge advance with profit and retained earnings, where he with the profit from an increase in the special loss account of provisions according to § 17 para 4 or the compensation claim pursuant to § 24 para 1 or of participation cancellation account according to § 24 para 5 or the pending deposit according to § 26 ABS. 3 or capital depreciation account according to § 26 para 4 , Is to charge article 28, paragraph 1, or the profit from a reduction of the compensation liability according to § 25 para 1.
(3) paragraphs 1 and 2 shall apply also if a choice right granted for the opening balance sheet is subsequently exerted with effect for this derogation. Profits referred to in paragraph 1 may be charged with losses referred to in paragraph 2 only within equity. Paragraph 1 shall also apply if after expiry of the assessment period, a debt included in the opening balance sheet is issued free of charge transferred by a third party with discharging effect or of this economically worn or converted into a subordinated liability according to § 16 para 3 or article 17, paragraph 5, sentence 4. Based the value or inventory measures the Treuhandanstalt or it by administrative acts for the prevention of hazards and the Elimination of adverse effects within the meaning of § 17 para 2a set 1 or agreements with the competent administrative authority causes, so these measures as enlightening value within the meaning of paragraphs 1 and 2 (4) in the cases of paragraphs 1 to 3 apply the opening balance sheet as modified. Paragraphs 1 to 3 are applied last to annual financial statements for financial years, which in 1994 and, if the correction related to impacts on the environment, ending in the year 2000; the correction on a settlement after 31 December 1994 effectively become pecuniary matters in implementation of the provisions of the Unification Treaty and the provisions adopted for its implementation, is based in particular on measures of asset allocation, asset return or property law cleanup and related capital transfers on the company or on measures in implementation of the old debt help law, as are paragraphs 1 to 3 to the respective measure to apply. Receivables and Payables according to §§ 24, 25 and 26 paragraph 3 can no longer be changed insofar as they are transferred at the time of the adjustment to a third person or security rights of third parties as a result be impaired, or if it has been transferred on another person or a successor in title on the basis of Article 23a, paragraph 1 and 2 of the trust law outside of the Treuhandanstalt and the federal assets managed by the majority of the shares in the company. Receivables and Payables according to §§ 24, 25 and 26 (3) or the sections 40, 41 can be amended in the annual accounts, provided up to 31 December 1994. A correction in a later balance sheet to do so, that a compensation claim would have arisen after section 24 or section 40 or not in the designated amount, an amount equal to the allowance for the by one who has performed the rectification, to pay to the debtor of the compensation claim is so; the debtor of this payment obligation nor creditors of the compensation claim is under section 24, the allocation may require regardless of the due date of the compensation claim. Set of 5 is without prejudice of article 17 not to apply paragraph 4a, if the correction is excluded pursuant to sentence 3.
(5) paragraphs 1 to 4 apply to the consolidated opening balance sheet according to.
(6) paragraphs 1 to 4 shall apply also for the acquired assets, liabilities and special items including the restrictions and resulting equity in the financial statements of the companies which have emerged after July 1, 1990 by creation, conversion, merger, Division or unbundling of the companies referred to in article 1, paragraph 1 to 3 under continuation of the book values from their D - Mark opening balance sheet.
Subsection 9 disclosure section 37 disclosure (1) companies have to disclose the opening balance sheet and the annex as well as the consolidated opening balance sheet and the consolidated financial statements within one month after the expiry of the respective statement period if they are obliged by their legal or due to their business sector to disclose its financial statements or if they million deutsche mark show a balance sheet total of more than one hundred twenty-five in their opening balance sheet or in its consolidated opening balance sheet and employ more than five thousand workers at the balance sheet date. The articles 325 and 326, 328-339 of the commercial code shall apply accordingly; section 5, paragraph 2 shall apply to the determination of the criteria. The comparative representation according to § 20 does not need to be disclosed. § 4 of the law on the enactment of legislation of the Federal Republic of Germany, the German Democratic Republic from June 21, 1990 (Coll. I no. 34 p. 357) is not to apply.
(2) when submitting the documents the Court checks whether the documents are complete and, if required, within the given deadlines have been made known.
(3) is the examination of the creation, conversion, or by contributions in kind included in the audit of the opening balance sheet have been, so the Court can impute that the valuations for assets correspond to their actual value in the opening balance sheet, if the opening balance sheet and the notes have received an unqualified audit opinion.
(4) companies that post until June 30, 1990 were report to valid legislation compared to the Statistical Office of the German Democratic Republic, have to submit the D - Mark opening balance sheet immediately after their detection of the Treuhandanstalt in duplicate.
Section 6 of business-related regulations under section 10a regulations for financial institutions and foreign trade companies article 38 scope (1) financial institutions and foreign trade companies have to observe the provisions of this Act, unless otherwise provided in this subsection. You may take the concessions approved this Act depending on unused. § 19 para 3 No. 1 are letter (a) this Act and section 26 of the Act on credit does not apply to financial institutions. Section 1, paragraph 5, sentence 2 and 3, § 4 para 3 sentence 3 are not to apply to financial institutions and trade businesses.
(2) financial institutions are companies that have operated banking business pursuant to section 1 para 1 of Banking Act authorized prior to July 1, 1990 in the area of the mark of the German Democratic Republic. the power can be based on law, regulation, governmental order or official permission.
(3) foreign trade companies are companies that have done business with companies or countries outside the currency area of the mark of the German Democratic Republic before 1 July 1990 in the area of the mark of the German Democratic Republic on behalf of public authorities within the framework of the international trade and currency monopoly. This account also companies that have taken over the business operations of foreign trade companies wholly or partly for the purpose of execution, in terms of assets to be settled.
(4) the opening balance sheet and the annex of the financial institutions and trade businesses are to determine at the latest before the end of the eighth month after the balance sheet date. Up to this point, measures according to section 1, paragraph 5, sentence 1 or § 4 para 3 sentence 1 and 2 can be taken into account.

§ 39 opening balance sheet (1) banks have by way of derogation from article 247, paragraph 1, §§ 251, 265 para 5 to 7, § § 266 to 268 of the commercial code, and without prejudice to a further outline the opening balance sheet in accordance with the regulation through forms for the breakdown of the annual accounts of credit institutions, as amended by the notice of 14 September 1987 (BGBl. I p. 2169) to set up, and banks, the corporations are 1. , according to the pattern of this regulation for the balance sheet, 2 banks, 1 the registered cooperative 2 of this regulation for the balance sheet, 3 financial institutions, which are savings banks and other financial institutions of under public law according to patterns that are set by this regulation are, according to the pattern.
(2) financial institutions have in the opening balance sheet of flat-rate value adjustments according to § 13 para 3 on claims from bank transactions amounting to 1 per cent and contingent receivables of from banking business set down guarantees and other warranties amounting to 0.5 per cent of the total amount of loans and advances to customers, if these are not set against a local authority, a body of governed by public law, an institution or a financial institution in the area of the Deutsche mark or are vouched for by them.
(3) maintaining the lump-sum allowance in future financial statements depends on the General valuation principles.
(4) by way of derogation from article 16, paragraph 1 are designated below on mark of the German Democratic Republic-denominated liabilities of financial institutions, which were established before July 1, 1990, to convert with the effect on Deutsche mark that one Deutsche mark to be used is for a mark of the German Democratic Republic: liabilities to natural persons residing in the German Democratic Republic-are born after July 1, 1976 , up to two thousand mark, - that are born between July 2, 1931 and July 1, 1976, up to four thousand mark, - born before July 2, 1931 are up to six thousand marks if they have made a corresponding application. You are natural or legal persons or bodies whose Wohnsitz is outside of the German Democratic Republic, also after 31 December 1989 established liabilities to change in such a way, that one Deutsche mark will be credited for three marks of the German Democratic Republic as long as these persons or bodies have made a corresponding application.

§ 40 compensation claims is (1) financial institutions and trade businesses, as far as their assets in application of the measurement requirements of under section 2 of the Act to cover from the introduction of the currency, the Deutsche mark and the changeover in the German Democratic Republic are not sufficient resulting liabilities including provisions allocated a remunerated claim against the compensation fund currency changeover beginning with July 1, 1990. Compound interest is not granted.
(2) for financial institutions is to put the requirement in height, that the assets are sufficient to cover the debts referred to in paragraph 1 and to have equity in the amount, that's at most times is at least four per cent of total assets and utilization of the principle I adopted pursuant to § 10 of the German Banking Act by the federal supervisory Office for banking as amended by the notice of 19 December 1985 (Federal Gazette No. 239 of December 24, 1985 p. 15302).
(3) for foreign trade operations is to apply compensation claims in the amount that the assets are sufficient to cover the debts referred to in paragraph 1.
(4) § 36 is with the proviso as to apply that it doesn't arrive on the materiality. Article 36, paragraph 4, sentence 3 shall not apply.
(5) section 24, paragraph 2, sentence 1 shall apply.

Article 41 compensation liabilities (1) financial institutions and foreign trade companies have to adjust liabilities of the compensation fund (compensation liabilities) currency conversion in their opening balance sheet on 1 July 1990, in which money balances equity capital the limits referred to in article 40, paragraph 2, and foreign trade companies, the assets exceed the debt.
(2) section 24, paragraph 2, sentence 1 and section 40 para 1 sentence 2 and paragraph 4 shall apply accordingly.

Section 42 comparative representation of financial institutions have in the comparative presentation according to § 20 also to specify 1; claims about ten thousand Deutsche Mark 1 July 1990 individual value adjustments made to the date for which or depreciated, the deposed amounts shall be indicated and justified;
2. the number of accounts of that have balances in mark of the German Democratic Republic a) up to two thousand Deutsche mark in a ratio of one to one, b) up to four thousand Deutsche mark in a ratio of one to one, c) up to six thousand Deutsche mark in relation one to one; credited
3. the total amount of credits in mark of the German Democratic Republic, for which a conversion request may be made still.

§ 43 can check by way of derogation from section 34 paragraph 1 only by an auditor (1) financial institutions and trade businesses in the form of a capital company or of the public law or an accounting firm to be tested, as far as they are not savings.
(2) the review also covers the question whether the conditions referred to in article 5 paragraph 7 of annex I to the Treaty establishing a monetary, economic and social Union between the Federal Republic of Germany and the German Democratic Republic for the restitutio in integrum templates for the subsequent conversion of account balance of individuals.
Subsection 10 b transfer the obligation for financial institutions and trade businesses § 43a transfer duty for impaired receivables (1) a financial institution is obliged to pay interest and redemption that the debtor or a third party is after 31 December 1994 and before 1 January 2030 on a loan before July 1, 1990 granted him to the compensation fund currency conversion if the financial institution has made an impairment to in its D - Mark opening balance sheet for this. Was only partially impaired the demand, are interest and repayment amounts to dissipate only insofar as they serve the demand not to operate the valuable part.
(2) to be paid are also interest rate and repayment amounts within the meaning of paragraph 1, that the debtor or a third party on loans made, not taken by the Bank due to a subordination agreement in accordance with section 13 para 4 with the debtor in its D - Mark opening balance sheet.

§ 43 (b) transfer of obligation for impaired debt was dissolved a liability in the D - Mark opening balance sheet took into account or reset after 31 December 1994 and before 1 January 2030 wholly or in part, because the debt extinguished or no longer use is expected, the financial institution to deduct an amount corresponding to the adjustment to the compensation fund currency changeover has. The amount is to be payable on 1 July 1990 up to each interest rate of day of the transfer to the compensation fund currency changeover with the compensation claims.

section 43c are within six weeks of the receipt of payment to the compensation fund to pay currency conversion maturity incoming interest and repayment amounts referred to in Article 43a. Transfers included on b to § 43 within six weeks from the date of the financial statements, in which the correction is made, to make.

§ to 43d inspection of drainage which is compliance with the transfer of the examiner ordered for the audit of the financial statements in relation to the audit of the financial statements. He has then to enter into the audit report according to § 321 of the commercial code.

section 43e of foreign trade operations, the provisions of this subsection apply to foreign trade enterprises according to.
Under section 11 rules for insurance companies section 44 scope (1) insurance undertakings have to observe the provisions of this Act, unless otherwise provided in this subsection. You may take the concessions approved this Act depending on unused. The § § 55, 56 para 1 of the insurance supervision law are not applicable.
(2) insurance companies are companies which have the provision of insurance services to the subject and not bearing the social security are. These include companies which are not insurance supervision or have no legal personality of its own. The regulations of insurance companies are also on companies to apply, which are not allowed to conduct business as insurance companies or which are in liquidation.

Article 45 opening balance sheet (1) insurance undertakings have by way of derogation from section 265 para 6, 7, paragraphs 266 to 268 of the commercial code, and without prejudice to a further outline the opening balance sheet in accordance with the regulation on the accounting of insurance companies by July 11, 1973, as last amended by regulation of 23 December 1986 (BGBl. 1987 I S. 2), to set up.
(2) insurance undertakings have the provisions pursuant to § 56 para 3 of the insurance supervision law to make. § 56 para 4 of the insurance supervision law is to apply. § 17 para 4 is to apply also to technical provisions with the exception of the provision for unearned premiums.
(3) insurance undertakings have to make no. 3 of the regulation on the accounting of insurance companies details imposed on July 11, 1973 in the annex in addition in § 12.

§ 46 test. Submission can be tested by way of derogation of article 34 paragraph 1 only by a chartered accountant or an accounting firm (1) insurance undertakings.
(2) the D - Mark opening balance sheet, the annex, and the closing balance sheet as of June 30, 1990 are the balance sheet, the consolidated opening balance sheet and the consolidated financial statements no later than before the end of the seventeenth month at the latest before the end of the eleventh month to submit the federal supervisory Office for insurance in duplicate. The report of the Auditors on the examination according to § 33 para 1 sentence 1 is at the latest before the end of the twelfth month after the balance sheet date, the report of an inspection according to § 33 para 3 sentence 1 no later than before the expiry of the nineteenth month to submit the federal supervisory Office for insurance in duplicate.
Section 7 criminal and penalty provisions. Penalties to apply sanctions (1) that of the commercial code are penal provisions of sections 331 to 333 on the opening balance sheet, the annex, the consolidated opening balance sheet, the consolidated financial statements and the Auditors to be ordered according to this law according to § 47. Sentence 1 applies also to companies not in the form of a capital company.
(2) section 331 of the commercial code is also applicable to the breach of duties by the directors (§ 1 subsection 2 sentence 1 of the German Banking Act) a financial institution not in the form of a capital company, by the holder of a financial institution that is operated in the legal form of the trader or the Managing Director within the meaning of § 53 para 2 No. 1 of the German Banking Act.

§ 48 penalty provisions (1) any person who as a member of the authorized organ or of the Supervisory Board of a company or as a Managing Director in the sense of § 1 para 2 sentence 1 or § 53 para 2 is no. 1 of the law on credit or as a business owner operated in the legal form of the trader 1 during the installation or establish the opening balance sheet or of annex of a provision of a) of section 4 paragraph 2 sentence 1 or 2 or of § 5 para 1 sentence 1 in Connection with article 243, paragraph 1 or 2, sections 244, 245, 246, 247 section 1 or 2, sections 248, 249 para 1 sentence 1 or par. 3, article 250, paragraph 1, sentence 1 or 2 or § 251 of the commercial code on form or content, b) of § 5 para 1 sentence 1 in conjunction with § 253 para 1 sentence 2, para 2 set 1, 2 or 3 or paragraph 3 set 1 or 2 , Article 255, paragraph 1 or 2 set 1, 2 or 6 of the commercial code or the §§ 6 to 18 on the evaluation, c) of § 5 para 1 sentence 2 in conjunction with section 265 para 3 to 8, sections 266, 268 paras 3 to 7 or § 272 of the commercial code or § 39 para 1 or 2 or of article 45 of the outline, or d) of § 19 para 1 to 3 , the §§ 20 or 22 of the annexed information, 2. in establishing the consolidated opening balance sheet or a provision of a consolidated) article 21 par. 3 of the consolidated Group, b) of § 21 para 4 sentence 1 in conjunction with the sections 5 to 19, article 298, paragraph 1 of the commercial code, or section 297, paragraph 2 or 3 in conjunction with article 243, paragraph 1 or 2 , Sections 244, 245, 246, 247 section 1 or 2, sections 248, 249 para 1 sentence 1 or par. 3, article 250, paragraph 1, sentence 1 or 2 or § 251 of the commercial code, form or content, c) of § 21 para 4 sentence 1 in conjunction with article 300 of the commercial code on the consolidation or the complete bid, d) of § 21 para 4 sentence 1 in conjunction with § 311 subsection 1 sentence 1 of the commercial code , in conjunction with § 312 of the commercial code, on the treatment of associated companies, or e) contravenes the section 22 of the information in the consolidated financial statements, 3. the disclosure, publication or duplication of provision of § 37 para 1 sentence 1 in conjunction with § 328 of the commercial code on form or content, or 4 the provision of § 37 para 4 of the submission of the D - Mark opening balance sheet.
(2) any person who to an opening balance sheet or an annex or a consolidated opening balance sheet or a group is also, to be considered on the basis of legal regulations, a notice according to § 322 of the commercial code § 319a para 1 sentence 1, paragraph 2 of the commercial code given, although according to § 34 ABS. 5 in conjunction with article 319, paragraph 2, 3, 5, he or according to § 34 ABS. 5 in conjunction with § 319 ABS. 4 , also in conjunction with § 319a section 1 sentence 2 or § 319a section 1 sentence 4 of the commercial code the auditing firm or book review society, for which he is involved, may be not examiners.
(3) the offence can be punished with a fine up to fifty thousand euro.
(4) administrative authority in the sense of § 36 para 1 No. 1 of the code of administrative offences is the Federal Office of Justice in the cases of paragraphs 1 and 2.

Paragraph 49 setting fine against members of the authorized institution, with individual companies against the owner, who does not comply with § 37 of this Act in conjunction with section 325 of the commercial code on the obligation to disclose the opening balance sheet of the annex or the consolidated opening balance sheet or consolidated, is to set a fine because of the pflichtwidrigen omission of disclosure by the Federal Office of Justice according to article 335 of the commercial code. Section 335 paragraph 1 sentence 2 of the commercial code shall apply accordingly.
Section 8 taxes. Fees section 50 tax balance of opening and consequences (1) taxable persons which are entities of a company according to § 1, have to comply with the provisions of this Act for the determination of profits tax. A taxpayer is entities of a company that emerged is viewed according to § 1 paragraph 5 as July 1, 1990, is with the company by July 1, 1990 for taxes from the income and income tax. Is the transmission already honored by assets or liabilities according to § 4 para 3 in the opening balance sheet of the undertakings concerned to 1 July 1990, this applies also to the tax liability of the legal entity of the undertakings concerned.
(2) to July 1, 1990 is a tax opening balance sheet to make up, which must be apart from the following exceptions, the commercial opening balance sheet. An according to article 9, paragraph 3, or article 31, paragraph 1 No. 1 sentence 2 and no. 2 and 3 qualified assets should not be on; No. 1 sentence 1 a period of 15 years is considered normal useful life of an asset pursuant to § 31 para 1. Section 11, subsection 1, sentence 1 is to apply subject to the proviso that the participation book value is designated pro-rata equity in the tax opening balance sheet of the company, where participation is. § 5 para 2, 3 and 5 of the income tax act shall apply. Provisions may be not made Nr. 1, sentence 3 and par. 2 of the commercial code according to § 5 para 4 of the income tax Act and provisions according to article 249, paragraph 1, sentence 2. § 9 para 2 sentence 3 and § 10 para 1 sentence 2 sentence 2 are second half-sentence and paragraph 2 does not apply. On the formation of provisions for pensions, it is according to § 54 para 1 to 3 and 5 to apply.
(3) the correction of approaches according to § 36 leads to an adjustment of the opening balance tax and any subsequent balance sheets. Are already tax assessment notices issued were, so they are to change, as far as the correction of balance or value approaches leads to a modified win or loss or affects the determination of unit values. In the cases of § 36 paragraph 4 sentence 2, the fixing period begins at the end of the calendar year in which occurs the adjustment of tax opening balance sheet and any subsequent balance sheets.
(4) amounts that are used to offset of a capital depreciation account according to § 26 para 4 or article 28, paragraph 1, may not be deducted when calculating tax profits.
(5) on taxpayers who voluntarily carry books and regularly make financial statements, is to apply paragraph 1 to 4 according to.

§ 51 Umstellungsbedingte asset changes
(1) from the opening balance sheet and the realignment according to § 26 para 2 to 4, sections 27, 28, 30 to resulting numerical changes in assets of taxable persons referred to in article 50, paragraph 1 or 5 and their shareholders or members act on taxes from the income and income not from. This applies in particular for the creation of reserves or the resolution of previous underestimates if the income based on the revaluation of assets and liabilities, at the latest on July 1, 1990 have been operating assets or have been transferred to the company with effect from July 1, 1990, or based on the remission of debt.
(2) resulting from the modification numerical changes in the assets of the companies referred to in paragraph 1 and whose shareholders and in the capacity of cooperatives referred to in § 1 and their comrades are not the taxes from the capital.

§ 52 tax output values in other cases (1) taxable persons that find their profits according to § 4 section 3 of the income tax Act, are considered acquisition or manufacturing costs of the assets, which have been fixed assets or on taxpayers, with effect from 1 July 1990 have been transferred, the values arising in appropriate application of sections 7 to 11 and 18 at the latest on July 1, 1990. Assets pursuant to sentence 1 are to record in a special directory (installation directory), specifying their value to 1 July 1990. Can produce up to 31 December 1994 including that they were wrongly allowed to or not be used not to July 1, 1990 or much too high or too low have been applied, the system directory is to correct; are already tax assessment notices issued were, so they are to change, unless the correction leads to a modified win or loss.
(2) paragraph on taxpayers with income from employment, capital assets, rental, and leasing or other income is 1 sentence 1 and 3 pursuant to §§ 17 and 22 of the income tax Act apply mutatis mutandis. Return transfers are no purchases under the property Act. In these cases, the values arising in appropriate application of paragraph 1 sentences 1 and 3 are considered acquisition or manufacturing cost.

Article 53 marketing years 1990 and fiscal outcome for taxpayers with income according to § 2 paragraph 3 Nos. 1 to 3 of the income tax Act are the periods from 1 January to 30 June and from 1 July to 31 December marketing years in the calendar year 1990. Provisions can be made in the tax closing balance as at 31 December according to § 5 para 4 of the income tax Act does not and pension provisions only under the conditions of article 54.

§ 54 pension provisions (1) a pension obligation may be made a provision (pension provision) only if 1 the pensionable has a legal right to one-time or ongoing pension benefits, 2. no reservation contains the pension commitment, that the pension entitlement or the pension benefit may be reduced or withdrawn, or a reservation of such stretches only on facts and figures, when their existence according to general principles of law, in accordance with a reduction or withdrawal is permitted pension entitlement or the pension benefits cheap discretion , and 3. the pension commitment is issued in writing.
(2) a pension provision may be made for the first time 1 prior to the introduction of the Executive for the marketing year in which the pension commitment is granted not earlier than for the marketing year up to the middle of pensionable the 30 years of age, 2. after the occurrence of the Executive for the marketing year in which the event occurs.
(3) a pension provision must be used at a maximum of the value of the pension obligation. Part value of a pension obligation is the present value of future pension benefits at the end of the marketing year less the present value of amount constant annual amounts arising on same time 1 prior to the termination of the service relationship of the address. The annual amounts are to be such that is at the beginning of the marketing year in which the employment relationship has begun, their cash value equal to the present value of future pension benefits; the future pension benefits are to apply it with the amount resulting after the conditions at the balance sheet date. It is the year amounts to consider that until the time provided for in the pension commitment of the entry of the Executive in terms of invoice to raise are from the beginning of the marketing year in which the employment relationship has begun. Increases or decreases the pension benefits after the end of the marketing year, which are uncertain with regard to the timing of their scope or their effect, are to take into account, if they occurred in the calculation of the present value of the future pension payments and the annual amounts. The pension commitment is only granted after the commencement of employment in the meantime for the calculation of annual amounts is only in so far as the latency to treat, as it is intended in the pension commitment as such. Has passed the employment before the completion of the 30th year of the life of the address, so it is considered at the beginning of the marketing year started, up to the middle of the pensionable years of age the 30;
2. after termination of the service of the address while maintaining his pension entitlement or after the occurrence of the Executive of the present value of future pension benefits at the end of the marketing year; Number 1 set 4 apply mutatis mutandis.
A billing rate of six per cent and the recognised rules of insurance mathematics are to apply in the calculation of the partial value of the pension obligation.
(4) a pension provision may be increased at most to the difference between the value of the pension obligation at the end of the marketing year ending on December 31, 1990 (first year) and the beginning of the marketing year. The present value of future pension benefits increased at the end of the first year to the beginning of this year by more than 25 per cent, the permitted for the first-year increase of pension provisions this year and the two following fiscal years can be distributed evenly. May at the end of the first year a pension provision with which be started, provision may be made up to the amount of the partial value of the pension obligation at the end of this year. This provision can be applied equally to the first year and the two following fiscal years. The service relationship of the address while maintaining his pension entitlement ends first year or occurs during this business year, the pension provision must always be formed up to the amount of the partial value of the pension obligation. Allowed for this year increasing of the pension provisions can be applied equally to the first year and the two following fiscal years.
(5) paragraphs 3 and 4 shall apply accordingly if the pensionable to the Pensionsverpflichteten in a different legal relationship as a service relationship.

Article 55 deposits are an operating period of three years after June 30, 1990 led to assets as a deposit, which have been purchased before July 1, 1990 or produced, the amount that could have on the taxpayer in an opening balance sheet as of 1 July 1990 shall be deemed acquisition cost or production cost.

Article 56 charges (1) court fees and notarial attestation fees incurred on the occasion of establishing the opening balance sheet and the realignment of the shareholding according to this law, shall be reduced to 50 per cent. Exceeds the 1 fee to be charged for the certification of Assembly resolutions pursuant to sentence two thousand Deutsche mark, so reduced the amount exceeding two thousand Deutsche mark to another twenty-five per cent. The fees accruing to the notary himself, the fees according to section 144 (1) of the Act about the costs in matters of voluntary jurisdiction (costs of arbitration) shall be reduced for the Federal Republic of Germany in the Federal Law Gazette Part III, outline number 361-1, adjusted version of 5 of the law of 5 April 1990 published, last amended by article (Federal Law Gazette I p. 701).
(2) the discount also applies to the charges, resulting in a transformation of societies, if the conversion is not later than the realignment decided and after the opening balance sheet the nominal capital not reached one hundred thousand Deutsche mark or the transferred equity of the Corporation or the partnership limited by shares fifty thousand Deutsche mark not reached one hundred thousand Deutsche mark or the transferred equity capital of the company with limited liability. The discount does not cover the fees incurred on the occasion of a capital depreciation account balance.
(3) If a decision for its attestation the fees referred to in paragraph 1 to reduce are covered by decisions recorded at the same time with others not under paragraph 1, logged in or registered and a uniform charge is to raise, so only the amount of the total fee, reduced the fee for not under paragraph 1 falling business at separate making to raise would be that exceeds.
(4) the discount does not include the additional fee for verification outside the Court site and for foreign-language explanations; However, the fee for the certification outside of the Court point may not exceed the amount of the (reduced) fee to be collected for the business itself.
(5) the provisions governing the minimum fee shall remain unaffected.
Section 9 procedures determining capital new. Other provisions section 56a (1) majority vote for the decision of the general meeting or of the shareholders of corporations on the realignment of the subscribed capital and the confiscation of shares is sufficient a simple majority of the subscribed capital represented at the vote regardless of the number of votes. A special decision of the individual classes of shares is not required. This applies even if the statutes or the social contract determine otherwise. Rules governing the legal status of the capital increase only apply for an increase of the subscribed capital decided at the same time with the new determination if this is not done from existing equity.
(2) for the resolution of the Member meeting of cooperatives, through which the business assets, the shares, and the arrest totals new are set, the simple majority of the votes cast is sufficient even if legislation or the Statute determine otherwise. With the realignment at the same time increasing stake in newly established decided, the provisions of the Act are regarding only apply the employment and economic cooperatives if the boost not from existing equity.

§ 56b content of the application. The established opening balance sheet and the report of the Board of directors or the Managing Director to the commercial register of the seat of the capital company are testing by the Court (1) in the application of the decision on the realignment to submit; cooperatives, this applies for the registration to the cooperative register. Upon registration, the Board of directors or the Managing Director have to explain that the decisions on the establishment of the opening balance sheet and the realignment are not challenged or the appeal is legally rejected.
(2) the Managing Director of limited liability companies have to add a list of shareholders, signed by you, emerge from the name, first name, situation and place of residence of the shareholder and their master deposits and the deposits that still to be paid.
(3) the Court may also refuse to register the realignment, when the Auditors have failed the audit report for the opening balance sheet.
(4) is the opening balance sheet is not tested, the Court can order testing and order an inspector, if indications, that the laws have not been followed in establishing the opening balance sheet or chicanery have occurred. Prior to the arrangement, the Board of directors or the Managing Director are to listen.
(5) the Board of directors or the Managing Director have to register even a temporary realignment under section 28 to be registered in the commercial register or the register of the cooperative. The implementation of compensation of capital depreciation account by repayment or other measures is also to log in to the registration. In the application, it is to explain how the balancing is performed.
(6) the capital new fixing is effected, as soon as it is registered in the commercial register or cooperative register of the seat of the company.

§ change 56 (c) Exchange and pooling of interests (1) which are denominated shares on mark of the German Democratic Republic in shares denominated in Deutsche mark, or stamp. Shares must be merged, is so on the Exchange and the cancellation section 226 of the companies Act apply mutatis mutandis.
(2) before the realignment in the commercial register or in the register of the cooperative is entered, the new shares resulting from their may not be formed. In the case of the reduction in the number of shares of the Corporation or cooperative shares not be stakeholders available to use for the account, you are to be formed new shares for the account of the parties through the company or cooperative society in the way of public auction for sale instead of the existing shares. The proceeds are to pay off after deduction of the costs the parties or, if there is a right to deposit to deposit.

§ 56d are excessive debt or loss of half its subscribed capital (1) the Board of directors or the Managing Director to the decision-making about the capital new determination by the competent body is not obliged to apply the total enforcement proceedings; due to a resulting in establishment of the opening balance sheet indebtedness according to § 92 para 2 sentence 2 of the AktG, § 64 paragraph 1 sentence 2 of the law relating to companies with limited liability or § 99 para 1 sentence 2 of the Act concerning the employment and economic cooperatives the same applies to processors or liquidators. During this time, the Board of Directors and the Managing Director also of the obligation to the convening of a meeting are according to § 92 para 1 of the companies act or section 49, paragraph 3, of the law relating to companies with limited liability due to a loss of the subscribed capital, resulting in the establishment of the opening balance sheet, free.
(2) a temporary realignment in the commercial register is registered, the Board of directors or the Managing Director due to a loss of the subscribed capital, resulting in the establishment of the opening balance sheet for the time, which is intended to compensate for the capital depreciation account, are exempt from the requirement to convene a general meeting of the shareholders or members.
(3) paragraph 1 also applies to the case that when a corporation, whose Anteile of the Treuhand agency include, the indebtedness at a later date, but before the decision on the capital new imposition or thereafter due to a correction occurs pursuant to § 36. The Treuhandanstalt introduces the liquidation of a corporation before the decision on the new fixing of the capital, as paragraph 1 in conjunction with sentence is liquidation 1 to complete to apply.

section 56e loans to trust companies (1) are sections 32a and 32B of the law regarding the limited liability companies do not apply to loans referred to in article 25 paragraph 7 of the Union Treaty and on loans, which granted the Treuhandanstalt of society or for which she ordered a backup or guarantees. This shall not apply in the case of loans, which granted the treuhandanstalt privatisation Agency of the company after a realignment of the shareholding or for which she ordered a backup after that date, or guarantees.
(2) paragraph 1 shall apply also, as far as a successor occurs under section 23a para 3 of the trust law in the rights and obligations of the Treuhandanstalt in the credit.

§ 57 resolution (1) public limited liability companies, limited partnerships on shares and limited liability companies, which are not properly signed up the realignment of their capital ratios under this Act until 31 December 1994 for the registration in the commercial register, are resolved at the end of this day. Is the decision on the realignment before 31 December 1994 has been challenged, the six months after the date of the legal force of the decision this day occurs at the point of 31 December 1994.
(2) public limited liability companies, limited partnerships on shares and companies with limited liability whose capital is after the realignment to less than the amounts permissible under the legal form and the an increase in the nominal capital have decided are resolved in addition at the end of 31 December 1992, when the increase of in nominal capital on the permissible minimum principal amount up to this point correctly to the registration in the commercial register is been logged.
(3) public limited liability companies, limited partnerships on shares and limited liability companies, which have made use of the power to make a capital depreciation account, are dissolved at the end of December 31, 1997, when the implementation of compensation is not been entered up to this point in the commercial register.
(4) paragraph 1 sentence 1 is on employment and economic cooperatives to apply accordingly, if the necessary amendments of the Statute not properly registered to December 31, 1992 for registration in the register of the cooperative. The decisions of the General Assembly is the force on 1 July 1990 Statute of the cooperative with the changes then decided to apply.

Section 58 (1) fiscal year the company have to redetermine your fiscal year. The first year can be up to twelve months up to eighteen months, with banks and insurance companies by way of derogation from § 240 para 2 sentence 2 of the commercial code. The decision on the extension of the fiscal year can be taken only until the expiry of 30 June 1991. A change of the statutes or articles of association not required, if the fiscal year only on the basis of this provision will be extended.
(2) undertakings which make use of paragraph 1, for December 31, 1990, annual accounts need to relevant for them in accordance of the commercial law. An attachment is not required. Financial need neither be tested nor disclosed.
Section 10 concluding provisions § 59 empowering the Federal Ministry of Justice is authorized to adopt regulations to carry out this Act on the form and content of the documents to be according to §§ 1, 21, 39 and 45, the capitalization of the companies, as well as on the implementation of the test, the detection and disclosure of these documents and of the procedure to be followed up this by decree with the consent of the Federal Council in agreement with the Federal Ministry of finance and the Federal Ministry of Economics and technology , as far as these rules are required for the conversion of the currency within the meaning of the Treaty on the creation of a currency, to ensure economic and social Union and the objectives of this Act.

Article 60 this law application is to apply with effect from 1 July 1990 in the entire Federal territory, the provisions of section 7 but only by March 29, 1991. For the area referred to in article 3 of the Unification Treaty, the provisions of section 7 with the exception of § 48 para 1 are no. 4 to apply with effect from September 29, 1990.