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

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German mark opening balance sheet and capital redetermination (D-market balance law-DMBilG)

unofficial table of contents

DMBilG

date of completion: 23.09.1990

Full quote:

" D-market balance law in the version of the notice of 28. July 1994 (BGBl. 1842), as last amended by Article 2 (31) of the Law of 1. April 2015 (BGBl. I p. 434) "

:Recaught by Bek. v. 28.7.1994 I 1842;
as last amended by Art. 2 para. 31 G v. 1.4.2015 I 434

For details, see Notes

Footnote

(+ + + Text evidence: 3.10.1990 + + +)

(+ + + For application) cf. § 60 + + +)

The law of the former in the accession territory of the former. German Democratic Republic gem. Appendix II. III Sachg. D Sect. 1-amended by Art. 5 No. 7 EinigVtrVbg v. 18.9.1990 II 1245-in accordance with d. Art. 9 EinigVtr v. 31.8.1990 iVm Art 1 G v. 23.9.1990 II 885, 1169 mWv 3.10.1990. unofficial table of contents

content overview

Section 1
Inventory. Opening balance. Attachment
Subsection 1
Inventory. Opening balance sheet
§ 1lineup obligation
§ 2 Ininventory
§ 3Inventur
§ 3a Inventory of the inventory
§ 4Opening balance sheet
§ 5 Applicable Rules
Subsection 2
Balance sheet approach-and Rating rules
§ 6General Requirements
§ 7 Revaluation
§ 8Intangible Assets
§ 9 Reason and ground
§ 10Builts and other assets
§ 11 Financial Assets
§ 12PreBoards
§ 13 Receivings
§ 14Cash box, cheques, credit balances at financial institutions
§ 15Accounting Line Items
§ 16liabilities
§ 17Repositions
§ 18Currency Conversion
Subsection 3
Attachment. Comparative Representation
§ 19Attachment
§ 20 Comparative representation
Section 2
Group opening balance sheet. Total opening balance
§ 21lineup duty
§ 22 Group Attachment
§ 23Template and Disclosure Requirements
Section 3
Capital Equipment
Subsection 4
Balance of wealth and equity of previously fully-owned enterprises
§ 24Countervailing requirements
§ 25Countervailing liabilities
§ 26Equity backup
Subsection 5
Redetermination of the capital ratios of private companies
27reset
§ 28Preliminary reset
§ 29Company law relationships
§ 30Resolution of Capital depreciation accounts
Subsection 6
Preliminary Profit Recovery
§ 31Preliminary Profit Backback
Section 4
Setting and Adjustment of benefits in German mark
§ 32Setting and adjusting benefits in German mark
Section 5
Method
Subsection 7
Review
§ 33Review
§ 34 Completing the audit
Subsection 8
Determination and rectification
§ 35Determination
§ 36Rectification of value records
Subsection 9
Disclosure
§ 37 Disclosure
Section 6
Business-Two-Related Rules
Subsection 10a
Regulations for financial institutions and foreign trade companies
§ 38 scope
§ 39opening balance sheet
§ 40 balancing requirements
§ 41Countervailing liabilities
§ 42 Comparative Representation
§ 43Audit
Subsection 10b
Abducting duty for financial institutions and foreign trade companies
§ 43a Abduction obligation for value-adjusted claims
§ 43bValue-added debt removal obligation
§ 43cDue date
§ 43dAbduction verification
§ 43eExternal Trade Companies
Subsection 11
Rules for insurance companies
§ 44Scope
§ 45 Opening Balance
§ 46Review. Submission
Section 7
Penal and Penal Regulations. Penalty payments
§ 47Criminal rules
§ 48 Penal rules
§ 49Competing of Forced Money
Section 8
Taxes. Fees
§ 50Fiscal Opening Balance and Follow-up Effects
§ 51 Conversion-Related Asset Changes
§ 52Tax baseline values in other cases
§ 53Economic years 1990 and tax final balance sheet
§ 54 Pension provisions
§ 55Inlays
§ 56 Charges
Section 9
Method of Capital Redetermination. Other rules
§ 56aSimple majority
§ 56b Content of the login. Inspection by the court
§ 56cReexchange and aggregation of shares
§ 56d Overindebtedness or loss of half of subscribed capital
§ 56eLoans to Trustee Company
§ 57Resolution
§ 58 Financial Year
Section 10
Final Provisions
§ 59empowerment
§ 60application

Section 1
Inventory. Opening balance. Attachment

Subsection 1
Inventory. Opening balance sheet

Non-official table of contents

§ 1 obligation to set up

(1) Companies with principal place of business (registered office) in the German Democratic Republic on 1 January July 1990, which, as merchants under § 238 of the Commercial Code, are obliged to lead books, have an inventory and an opening balance sheet in German mark for the 1. July 1990, as well as an annex in accordance with § 19, which forms a unit with the opening balance sheet. Companies which do not have to disclose their opening balance in accordance with Article 37 need not draw up an annex.(2) As a company which is obliged to conduct books in accordance with paragraph 1,
1.
volkseigenic combinates, businesses, independent entities and business management bodies, intercompany institutions and others in the register of the fully owned economy
2.
Companies with limited liability in construction,
3.
3.
Cooperatives of any kind, including cooperative facilities,
4.
Holds with or without own Legal personality of the State, the countries, counties, cities and municipalities engaged in a trading business within the meaning of Section 1 of the Commercial Code,
5.
Foundations and associations operating a trading business within the meaning of Section 1 of the Commercial Code,
6.
Deutsche Post,
7.
the Deutsche Reichsbahn,
8.
branches and premises of companies referred to in paragraph 1 with
() Paragraph 1 shall also apply to the Treuhandanstalt and to undertakings referred to in paragraphs 1 and 2 which are in liquidate or over whose assets the The overall enforcement procedure has been initiated.(4) If a company is responsible for accounting for the undertaking of a company referred to in paragraphs 1 to 3 in its own or foreign name, but for a foreign invoice, it shall also have its obligations under this law , the provisions of this Act shall apply accordingly.(5) Companies committed to the accounts shall be those of up to 30 years. June 1991, by the establishment, transformation, merger, division or unbundling, may be deemed to be the first for the purposes of this Act. These rules are applicable until 31 July 1990; companies which have emerged from agricultural production cooperatives are subject to this scheme until 31 July 1990. The Commission shall, by 31 December 1991, take up to 31 December 1991 to 31 December 1991 and to municipal housing enterprises, land and other housing estates used for housing purposes, from formerly owned housing companies or municipalities. December 1997. If measures in accordance with the first sentence result in a company no longer being present, that law does not need to be applied to the undertaking which has been undersigned. Sentence 2 shall also apply where the undertaking which has a legal form within the meaning of paragraph 2 (1) or (3) is up to 30. June 1991 is closed and the continuation of the dissolved company is excluded. The period laid down in the first sentence shall be maintained if the new undertaking or the new legal form is duly notified to the competent register by the end of the period for registration. If the application is not accompanied by all the necessary documents, the application shall be deemed to have been duly completed if such documents are submitted without delay to the court responsible for the application. unofficial table of contents

§ 2 inventory

On inventory to 1. Article 240 of the Commercial Code is to be applied accordingly in July 1990. The inventory shall also include such assets as the enterprise after the 30 years. The first sentence of the first sentence of the first sentence of Article 4 (1) for the opening balance sheet was transferred free of charge in June 1990 for the opening balance sheet from former fully owned assets. Non-official table of contents

§ 3 Inventur

(1) The inventory of the inventory needs to be set up in order to collect the inventory. Assets and liabilities are not to be carried out if the inventory is at the 30. The assets and liabilities have been fully recorded and the principles set out in paragraphs 2 to 6 have been respected. It's only after the 30. The assets and liabilities acquired in the inventory pursuant to § 2 sentence 2 or § 4 (3) shall be included in the inventory or included in the inventory separately. If the auditor was not present in the inventory at the time of the audit (§ 33 (1)), a new inventory can only be waived if the auditor is responsible for the regularity of the inventory at the 30. June 1990.(2) The assets shall, in principle, be recorded physically. Section 241 of the Commercial Code may be applied, paragraph 3 (1), with the proviso that the inventory may be drawn up during the first four months of the financial year. The physical inventory may be subject to the assets of the fixed assets if they are recorded in a manner corresponding to the principles of regular accounting and, in the last twelve months, a physical exercise Recording took place.(3) In the case of land and buildings, all statutory or contractual restrictions relating to their use, availability or recovery shall be recorded; moreover, it shall be noted that all the known facts from which they are based should be recorded. can result in financial commitments.(4) Claims and liabilities shall be recorded in special lists and shall be demonstrated in a manner appropriate to the principles of proper accounting. Claims and liabilities to the State, the Treuhandanstalt, shareholders and subsidiaries (Section 21 (1) sentence 1) must be recorded separately; the legal reason shall be stated in each case. In the case of liabilities to financial institutions and foreign trading companies, the reason for the credit is to be disclosed.(5) Special lists shall cover all situations which may result in a provision in accordance with Article 249 (1), first sentence of the Commercial Code, for indefinite liabilities or for imminent losses arising from floating transactions, or for which: The provisions of Section 249 (1) sentence 2 of the Commercial Code are to be formed.(6) In special lists, all liability conditions to be noted in accordance with Section 251 of the Commercial Code and any other financial obligations to be reported in accordance with § 19 (3) (6) of the Annex, insofar as they do not comply with the provisions of Article 19 (3) (6) of the German Commercial Code, shall be included in the Annex. paragraphs 2 to 5 shall be taken into account. Non-official table of contents

§ 3a Inventory of the inventory

(1) If the inventory is prescribed in accordance with § 3, the inventory is not or is not properly performed. , an inventory sufficient to comply with the requirements of § 3 (2) to (6) shall be carried out on a date within the period of notice pursuant to section 35 (1) sentence 3. In the case of companies subject to audit, the auditor must be present at the inventory. The inventory and the opening balance sheet for the 1. July 1990 shall be corrected or supplemented if the new inventory has been taken into account, taking into account the situation of the first Member State in the first half of the year. The trade books conducted in July 1990 pursuant to Section 238 (1) of the German Commercial Code (Handelsgesetzbuch) result in quantities or value-wise deviations. The amendments and additions shall be indicated in the Annex and shall be explained.(2) In the case of undertakings subject to a review, the opinion must be given without reference to the regularity of the inventory and the inventory and, in so far as it is not to be restricted or refused for other reasons, such as:
" The accounting, the opening balance sheet and the appendix are in accordance with my/our due examination of the legal regulations. The opening balance sheet and the appendix give a true and fair view of the assets of the undertaking in accordance with the principles of proper accounting. The inventory had to be collected according to § 3a of the D-Markbalances Act. Their regularity is confirmed. " Non-official table of contents

§ 4 Establiting the opening balance sheet

(1) The opening balance sheet and the appendix are in the first four months of the for the financial year. Companies which, in the opening balance sheet, have a balance sheet total of no more than three million nine hundred thousand German marks after deduction of a shortfall in accordance with Article 268 (3) of the Commercial Code or which is on the 1. The opening balance sheet and the appendix may be placed in the first six months of the financial year if this corresponds to a proper course of business in July 1990, and the maximum number of employees shall be fifty.(2) The opening balance sheet and the appendix shall, in accordance with the principles of regular accounting, give a true and fair view of the asset in the sense of section 264 (2) sentence 1 of the Commercial Code. If special circumstances lead to the opening balance sheet not giving a true and fair view, additional information shall be provided in the Annex, provided that such an image is to be drawn up.(3) Transfer of undertakings for the purpose of restructuring or privatization up to 30. In the case of assets or liabilities to other undertakings, the resulting changes in the opening balances and inventories of the undertakings concerned may be taken into account, but only in accordance with the agreement; An agricultural production cooperative shall be replaced by the 30. 31 June 1991. December 1991. Sentence 1 shall also apply where all assets and liabilities of an undertaking, including the special items provided for under this Act, are transferred. The remaining undertaking does not need to be applied in the event of a lack of assets; if it is entered in a register, it shall be deleted from its own account. The transfer of assets in accordance with the first sentence to the 31. December 1995 shall always be taken into account in the opening balance sheet and in the inventory if the Treuhandanstalt has requested the change in property from a company whose shares belong to it and is not granted an appropriate fee. If the transfer of the asset is made to another company whose shares are owned by the Treuhandanstalt at the time of the transfer, the change in property shall also be in the opening balance sheet and in the inventory of the transferor. to take account of the company. The opening balance sheet shall be deemed to have been amended as soon as the change in the balance sheet has been taken into account in the following annual accounts. Unofficial Table Of Contents

§ 5 Applicable Rules

(1) The opening balance sheet is § § 243 to 261 of the Commercial Code, with the exception of § 243 para. 3, § 247 (3), § 252, 253 (1) sentence 1, para. 4, § 255 (3), § 256 sentence 1, as far as they refer to the balance sheet and this law does not contain any deviating regulations; information on affiliated companies do not need to be made. Companies that are not individual businessmen or persons trading companies also have § 265 (3) to (8), § § 266, 268 (3) to (7), § § 270 to 272, Cooperatives to apply § § 336, 337 of the Commercial Code to the extent that this law deviates from the law. It does not contain provisions or rules on the form and content of the balance sheet which are not to be observed.(2) If the size characteristics of Section 267 (1) or (2) of the Commercial Code relating to the balance sheet total or the number of employees are not exceeded in the opening balance sheet, small enterprises may benefit from the facilitation of section 266 (1) sentence 3 of the German Commercial Code. Commercial code and medium-sized enterprises take advantage of the facilitation of Section 327 (1) of the Commercial Code in the preparation of the opening balance sheet.

Subsection 2
Balance sheet approach- and rating rules

Non-official table of contents

§ 6 General Requirements

(1) In the evaluation of the The opening balance of assets and liabilities shall in particular be as follows:
1.
Assessment shall be deemed to be the continuation of the business activity, provided that there is no real or legal situation.
2.
Assets and liabilities are to be assessed individually at the closing date of the opening balance sheet.
3.
It is prudent to assess, in particular, all foreseeable risks and losses incurred up to the closing date of the opening balance sheet, even if they have not become known until the date of the opening balance sheet date and the date on which the opening balance sheet has been drawn up; they are realised on the cut-off date.
(2) The approach and evaluation methods applied to the assets and liabilities shown in the opening balance sheet shall be binding on the following balance sheets, unless it has to be deviated from: or a derogation in accordance with Article 252 (2) of the Commercial Code; for the first deviation in a subsequent conclusion of a right to vote exercised in the opening balance sheet, a duly substantiated exception shall not be required. Sentence 1 shall also apply if the admissibility of the method is only obtained from this law. However, the values set out in the opening balance sheet must not be exceeded in the follow-up. Non-official table of contents

§ 7 Revaluation

(1) Assets and liabilities are to be reassessed. Assets shall be subject to their replacement or recovery costs (new value); however, they may not exceed the value to be attached to them (time value). Significant increases in value, which occur within four months after the balance sheet date, must be taken into account. The previous use of the assets and their remaining behind the technical progress shall be taken into account in determining the time value by a value reduction. The values set out in the opening balance sheet shall be deemed to be the cost of acquisition or production for the subsequent period, in so far as corrections in accordance with § 36 are not to be made.(2) In order to determine the replacement costs, Section 255 (1) of the Commercial Code is to be applied in accordance with the cost of acquisition. The price ratios in the entire currency area of the Deutsche Mark are to be assumed.(3) In order to determine the costs of recovery, Section 255 (2) of the Commercial Code shall be applied in accordance with the cost of production, subject to the proviso that the charges set out in the third sentence of this Article shall be included; interest on foreign capital may not be set. The calculation of the expenses for the consumption of goods and for related services are their replacement costs in accordance with paragraph 2 and the calculation of expenses for own benefits are the wage and salary conditions in the German Democratic Republic. Increases in personnel costs within the first four months after the closing date of the opening balance sheet may be taken into account.(4) In the case of abuseable assets, the value of the value shall be calculated for the previous use in the appropriate application of Section 253 (2) sentence 1 and 2 of the Commercial Code. When determining the useful life of abuseable assets, the periods of time for the determination of the tax profit shall be based on the periods of profit or loss as from 1. The Commission shall be responsible for the implementation of the In the case of abuseable assets, the actual use of which is likely to exceed the period of use as set out in the second sentence, after a reasonable commercial assessment, the value may be set taking into account the longer useful life, at most, however, with the useful life preceding the 1. It was admissible for the period July 1990.(5) Assets which are no longer used in the company shall be charged with the sales proceeds to be expected after deduction of the costs still incurred (divestment value). Assets that are still being used, but before the 1. In the case of the Commission, the Commission shall, at the latest, be subject to the following conditions:(6) Receivables and liabilities under the asset law shall be included in the opening balance sheet with the value of the restitution company according to § 11 or the assets to be returned in accordance with § § 8 to 18. In the amount of the activated amount, a special reserve shall be formed within the retained earnings, which may be used only to compensate for losses until the claim is fulfilled, provided that it does not require the formation of the subscribed capital. . Non-official table of contents

§ 8 Intangible assets

(1) The non-accounting prohibition of § 248 (2) of the Commercial Code for self-interest Intangible assets of fixed assets shall also apply if the assets are in the form of conversion before the 1. They were acquired in July 1990. No business or goodwill acquired free of charge may not be applied; § 31 (1) No. 1 shall remain unaffected.(2) Intangible assets of fixed assets acquired in the form of remuneration which are technically or economically outdated may not be applied at the most with their disposal value.(3) Instead of the sum of the amounts resulting from the individual valuation of the intangible assets acquired, the amount may be the amount which a buyer shall, if the company continues, within the limits of the total purchase price of the assets. the total amount of intangible assets to be paid would be payable. The amount is to be written off in the appropriate application of Section 255 (4) of the Commercial Code, in so far as it is a case of abuseable assets. Non-official table of contents

§ 9 Reason and ground

(1) Reason and ground is to be used with its traffic value. The price developments in the entire currency area of the German mark may be taken into account until the opening balance sheet has been established. Up to the formation of independent and independent expert committees for the determination of land values and for other valuations, the indicative values recommended by the Ministry of Economic Affairs may be used to determine the value of the transport value. shall be used.(2) Limitations of use, availability or exploitation, which significantly impair the value of the traffic value in accordance with a general approach to traffic, must be taken into account in such a way that they are impaired. This also applies to future recultivation and disposal obligations, insofar as they concern the owner. Expenses in accordance with the second sentence may not be taken into consideration if a provision is made in accordance with Section 17 (2a) or § 249 (2) of the Commercial Code.(3) A right of property, which is inexorably granted free of charge to at least ten years, may be applied to the cash value of the usual compensation for use, if the ground and land belonging thereto are used as fixed assets. The amount attached shall be indicated separately in the balance sheet or in the Annex. Non-official table of contents

§ 10 Buildings and other assets

(1) Buildings and other buildings, technical and other facilities, machinery, operating and With their recovery costs (§ 7 para. 3) or with their replacement costs (§ 7 para. 2), taking into consideration the value reduction for interim use (§ 7 para. 4), however, they are at most however with their time value (§ 7 Paragraph 1, sentence 2). The maintenance and repair of large repairs for maintenance purposes shall be taken into account in the determination of the value of the time value, in so far as a provision is not made in accordance with Section 249 (2) of the Commercial Code.(2) The time value of the assets referred to in paragraph 1 may also be its higher traffic value. Under the heading of the traffic value, the maintenance and repair of the property shall not be taken into account in a value-reducing manner, provided that a provision is made in accordance with Article 249 (1), second sentence, No. 1 or sentence 3 or paragraph 2 of the Trade Code is formed. Non-official table of contents

§ 11 Financial Assets

(1) Shareholdings in another company pursuant to § 1 are in the opening balance sheet with the amount , which corresponds to the reported pro-rata equity (Section 26 (1)) in the opening balance sheet of this company. Where the other undertaking is required to pay a compensation or a claim for the payment of equity against the undertaking concerned, those undertakings shall be disclosed separately under the liabilities owed to the undertakings concerned. Other participations are to be used with their traffic value. Sentence 3 may also be applied to participations as set out in the first sentence.(2) Shares and other securities which are admitted to official trading or to the regulated market on a stock exchange or are included in the free movement are to be set at the closing date of the opening balance sheet with their price value.(3) Lending before the 1. The effect on Deutsche Mark was to be restated in July 1990, and a German mark was to be established for two marks of the German Democratic Republic. Non-official table of contents

§ 12 inventories

(1) raw, auxiliary, and operating materials with their replacement or recovery costs -(2) Unfinished products and services, as well as finished products, shall be subject to their recovery costs. In the case of finished products, where this is used for a simplified calculation of the costs of recovery, the amount shall be set if the sales costs and the profit to be expected are offset by the revenue to be expected. . This procedure may also be applied to unfinished products and services if the additional costs to be paid up to completion, which are also to be deducted, can be calculated reliably.(3) Goods which are intended for resale without working or processing are to be used with the replacement costs. The second sentence of paragraph 2 may be applied accordingly.(4) However, inventories referred to in paragraphs 1 to 3 shall not exceed their time value (Section 7 (1) sentence 1). Section 7 (5) sentence 1 shall remain unaffected. Non-official table of contents

§ 13 Claims

(1) On the mark of the German Democratic Republic, claims that are before the 1. As far as paragraph 2 of this article has been established, the effect on the Deutsche Mark is to be converted into a German mark for two marks of the German Democratic Republic, unless otherwise specified in paragraph 2.(2) By way of derogation from paragraph 1, rents and pachts, as well as other regular recurring payments, shall be made after the 30 th day. The German mark is due to be recounted in June 1990, with the effect on the German mark that a Mark of the German Democratic Republic is to be charged with a German mark.(3) The principle of individual evaluation should be observed. Non-interest-bearing or non-interest-bearing claims, as well as dubious claims, shall be set at the lower fair value, and shall be taken into account in the case of collateral. Flat-rate adjustments due to the general credit risk shall be deducted from the total amount of the claims.(4) Claims corresponding to liabilities in accordance with Section 16 (3) and (4) may not be applied.(5) Pending deposits are, even if they are not requested, to be assessed as claims, but not to be galvanised. Non-official table of contents

§ 14 Cashier, cheques, credit balances at financial institutions

(1) Payment in Mark of the German Democratic Republic are to be used only if they continue to be legal tender.(2) cheques shall be treated as exposures.(3) Credit in the case of financial institutions in Mark of the German Democratic Republic shall be credited with the amount that the financial institution in the German mark must pay. Non-official table of contents

§ 15 InAccounting Line Items

Active and Passive Invoice Boundary items in accordance with Section 250 of the Commercial Code are in the To convert the ratio of two marks of the German Democratic Republic to a German mark, unless a different conversion ratio is required. Non-official table of contents

§ 16 liabilities

(1) liabilities denominated in Mark of the German Democratic Republic before the 1. As far as paragraph 2 of this article has been established, the effect on the Deutsche Mark is to be converted into a German mark for two marks of the German Democratic Republic, unless otherwise specified in paragraph 2.(2) By way of derogation from paragraph 1, the following liabilities denominated in Mark of the German Democratic Republic shall be converted, with effect on the German mark, to the effect that a Mark of the German Democratic Republic shall be credited with a Deutsche Mark:
1.
Wages and salaries at the level of the one after the 1. May 1990, in accordance with the provisions of the Treaty on European Union, the Commission shall: June 1990;
2.
Pensions, which are after 30 years of age. June 1990, unless otherwise provided for 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 pachts as well as other regular recurring payments after the 30.
() liabilities shall not be included in the opening balance sheet if a written declaration of the debt is due in the opening balance sheet. Creditor is present that it will require
1.
Payment only if the fulfillment from the annual surplus is possible, and
2.
in the event of the dissolution, insolvency or over-indebtedness of the enterprise behind all creditors who do not make such a declaration
The total amount of such liabilities shall be disclosed separately in the notes to the other financial commitments, unless they are considered as subordinated capital under an agreement with the company be expelled.(4) Liabilities which are issued until the statement of the opening balance sheet or are taken over by a third party free of charge shall not be accounted for. Unofficial table of contents

§ 17 Repositions

(1) Uncertain liabilities that are before the 1. The German mark was founded in March 1990 in Mark of the German Democratic Republic, as liabilities in Deutsche Mark are to be converted into German marks and to be rejected as provisions.(2) Repositions for looming losses arising from floating transactions in accordance with Section 249 (1) sentence 1 of the Commercial Code shall be reformed in the opening balance sheet. They shall, in particular, be adjusted if it is to be expected that a sales or procurement transaction will result in an expense exceeding the consideration or will result in a write-off on the item delivered.(2a) provision should be made for measures to prevent risks to man and the environment arising from environmental damage and to remove environmental damage, provided that there is a legal or contractual obligation; and the nature and extent of the necessary and appropriate measures are established or ordered by the competent administrative authority. The provision shall also be made in so far as the implementation of the measures leads to the acquisition or production costs of property which, in accordance with Section 253 (2) sentence 3 or paragraph 3 of the Commercial Code, at the time of the acquisition or Production is to be fully written off. The provision shall be dislocated if the measures are not up to 31. No administrative act of the competent authority, nor any agreement with the competent authority, nor the undertaking concerned of the existence of hazards or impairments within the meaning of the first sentence of sentence 1, have been commenced in December 1997. has been informed.(3) provisions which are not to be converted in accordance with paragraph 1 shall be set at the level of the amount in the German mark, which is necessary after a reasonable commercial assessment in order to comply with the obligation.(4) If provisions for the initial application of Section 249 (1) sentence 1 of the Commercial Code are set out in the opening balance sheet, the amount of these provisions shall be the amount of these provisions, unless they are due to a compensatory requirement pursuant to Article 24 (1). In order to compensate for a special loss account on the assets side, a special loss account shall be disclosed separately on the assets side; this shall not apply to provisions for indefinite return obligations pursuant to section 7 (6). In the following years, the activated amount shall be deducted in each case in the amount of the expenses incurred to fulfil the obligations under the restated obligations. In the case of the special loss account, a special reserve shall be set up within the retained earnings, which may only be used to compensate for losses; in the event of the use or liquidation of the reserve in a subsequent annual financial statement, the the reserve is freely available at the level of the respectively dissolved amount, provided that it is not required to compensate for any loss incurred. The activated amount is not liable to eliminate a shortfall not covered by equity capital or to replace outstanding deposits for the formation of the subscribed capital or the capital recovery account in accordance with § 26 para. 4, § 28 para. 1.(4a) If a reset is dissolved without the provision being made, the special loss account is also written off at the level of the resolved amount. Insofar as a provision is not made, because an exemption, in particular in accordance with Article 1 (4) (3) of the Environmental Framework Act, has been effected or the obligation is otherwise economically carried out by a third party, the following shall be: the provision has led to a compensation claim in accordance with § 24, to offset the resolved amount with the compensation claim if it can no longer be amended in accordance with Section 36 (4). If the compensatory claim has already been redeemed by the debtor or has been resigned or pledged by the creditor to a third party, the amount which could have been charged under the second sentence shall be the same as the amount which has been disbanded from the creditor to the to repay the original debtor. Sentence 3 shall also apply to the extent that a claim for compensation claimed by the company is eliminated by the fact that the debtor's old credit has been taken over by the company in a debt-free manner.(4b) Where a compensation or special loss account in the cases referred to in paragraph 4 or 4a is not clearly attributable to provisions, it should be assumed that provisions under paragraph 2a have led to a compensatory request.(5) Section 249 (1), second sentence, No. 1 of the Commercial Code does not need to be applied. § 249 of the Commercial Code remains unaffected by the rest. In place of an impairment loss in accordance with § 9 para. 2 sentence 2 or § 10 para. 1 sentence 2 or 2 sentence 2, a provision may be made pursuant to section 249 (1) sentence 2 no. 1 or sentence 3 or paragraph 2 of the Commercial Code if the conditions for this are fulfilled . § 16 (3) and (4) shall apply accordingly. Non-official table of contents

§ 18 currency translation

assets, liabilities, and accounting items that are denominated in foreign currency as well as Kassa transactions that have not been unwound on the balance sheet date, the Kassa course is to be converted into Deutsche Mark on the balance sheet date. Unprocessed forward transactions are to be converted at the end of the balance sheet date. Claims and delivery claims are to be converted with the exchange rate, liabilities and delivery obligations with the letter rate.

Subsection 3
Attachment. Comparative Representation

Non-official table of contents

§ 19 appendix

(1) In the appendix, the items on the opening balance sheet are listed in the Annex. the accounting and valuation methods used, in particular those applied in the re-evaluation, and to explain that a third-party expert may assess the value of the valuation; in particular, the estimates shall be: Display comparison scales. In the exercise of electoral rights, significant effects on the assets are to be presented separately. In addition, the information required for each item in the opening balance sheet or in the Annex is to be included, since it was not included in the opening balance sheet in the exercise of an electoral law.(2) In the Annex, the measures to be taken for the period after the 30. The company has been taken or planned to adapt the company to the changed conditions in June 1990. These include, in particular, changes to the company's purpose, the task or the new inclusion of products, set-aside, the splitting up or the merger with other companies. The estimated costs of the restructuring shall be indicated.(3) In addition, the Annex shall specify:
1.
on the liabilities shown in the balance sheet
a)
the total amount of liabilities with a residual maturity of more than five years,
b)
the total amount of liabilities secured by pledge rights or similar rights, specifying the nature and form of the Collateral;
2.
the breakdown of the information required in point 1 for each item of liabilities according to the prescribed outline scheme, provided that: this information is not obtained from the balance sheet;
3.
on the ground, ground, buildings and other buildings shown in the opening balance sheet, all Any statutory or contractual restrictions relating to their use, availability or exploitation. It is also necessary to specify all the facts from which future financial obligations may arise, in particular for major repairs, recultivation or disposal costs;
4.
the technical equipment and machines listed in the opening balance sheet, other equipment, and the operating and business equipment are state-of-the-art (average waste, technical status) and their future uses; the expected investment needs in the next four years shall be indicated, where foreseeable;
5.
Claims that can arise against the company because the company's previous owners, companies, businesses, or property have been expropriated ,
6.
the total amount of other financial obligations which do not appear in the balance sheet and which do not appear in accordance with Section 251 of the Commercial Code or on This law must be specified in the light of other provisions of this Act, provided that such information is relevant to the assessment of the financial situation, of which obligations to shareholders shall be disclosed separately;
7.
the number of employees employed;
8.
all members of the business management body and one Supervisory boards, even if they are provisionally ordered, with the surname and at least one written first name. The Chairman of a Supervisory Board, his deputies and any Chairman of the Executive Board shall be designated as such;
9.
The name and seat of others. Undertakings from which the undertaking or a person acting on behalf of its account has at least the fifth part of the shares, the amount of the share in the capital and the capital or non-equity capital shown in the opening balance sheet shall not be indicate the shortfall of these companies covered by equity; to the calculation of the shares, § 16 (2) and (4) of the German Stock Corporation Act shall be applied accordingly;
10.
Repositions that are not shown separately in the balance sheet under the heading "Other provisions" are to be explained if they have a not insignificant degree. Reorders shall always be specified and explained separately;
11.
The name and location of the immediate parent company and the place of disclosure of the parent undertaking Parent companies set up group opening balance sheet.
(4) The information and explanations required in paragraphs 2 and 3 may be left to the extent that they are
1.
are of minor importance for the representation of the company's asset according to § 264 (2) of the Commercial Code, or
2.
in the cases of paragraphs 2 and 3, no. 4 and 9, after a reasonable commercial assessment, it is appropriate to add a significant disadvantage to the company.
Non-Official Table of Contents

§ 20 Comparative Representation

Companies that are financial institutions or foreign trade companies have a to be attached as an annex showing the extent to which the items in the final balance sheet are to be drawn up to 30. June 1990 as compared with the items in the D-market opening balance of 1. July 1990. The differences resulting from the revaluation of assets and liabilities in relation to the final balance sheet are contained in a separate statement under the heading of revaluation differences, broken down by the items in the balance sheet. D-Markeropening balance sheet. The revaluation differences are to be documented by means of individual evidence.

Section 2
Group opening balance sheet. Total opening balance

Non-official table of contents

§ 21 obligation to set up

(1) To draw up an opening balance sheet Undertakings which hold the majority of the shares in another undertaking (subsidiaries) (parent companies) shall have no later than two months after the expiry of the period of notice for small undertakings pursuant to Article 35 (1). Set 3 for the 1. A consolidated balance sheet in German marks as well as an annex in accordance with § 22, which forms a unit with the group's opening balance sheet, was to be drawn up in July 1990. A parent undertaking shall be exempted from the obligation to draw up the consolidated balance sheet and the Annex if, on the reporting date, the balance sheet amounts in the opening balance sheets of the parent undertaking and the subsidiaries to be included, after deduction of the balance sheet the opening balance sheets on the assets side do not exceed a total of fifty million Deutsche Mark, or the Group companies do not employ more than five hundred employees.(2) The consolidated balance sheet and the annex shall be clearly and clearly drawn up. In accordance with the principles of regular accounting, they have to provide a true and fair view of the assets of the Group within the meaning of Section 297 (2) sentence 2 of the Commercial Code. If special circumstances lead to the Group's opening balance sheet not giving a true and fair view in the sense of the sentence 2, additional information shall be provided in the notes to the consolidated financial statements.(3) The parent company and all subsidiaries shall be included in the consolidated balance sheet without regard to the headquarters of the subsidiaries, unless the inclusion in accordance with § § 295, 296 of the Commercial Code is not included. If the composition of the Group changes within the period of application, these changes shall be treated as if they were already at the time of 1. July 1990. This also applies to companies that are within the time limit of the 1. It was established in July 1990.(4) The Consolidated Financial Statements of the Group are subject to § § 5 to 19 of this Act as well as Sections 296 to 298, 300, 301, 303, 304, 307, 308, 310 to 312 of the Commercial Code and those for the legal form and branch of the Group's opening balance sheet. to apply, in accordance with the provisions of this Act, to undertakings included in the scope of this Act, with the exception of Article 296 (1) (3) of the Commercial Code, in so far as they relate to the balance sheet of large corporations and to the extent to which they Group opening balance due to its own nature no deviations are caused. For the purposes of Article 308 of the Commercial Code, it may be considered that the opening balance sheets of subsidiaries and parent companies established within the scope of this Act shall be uniformly assessed.(5) In the first two months following the expiry of the period of termination of the Group's opening balance sheet, the Treuhandanstalt and the Treuhand-Stock Companies established by it shall, in accordance with section 35 (1) sentence 3 instead of a group opening balance, present a Total opening balance in a simplified form and an overall slope instead of a group attachment. They summarythe total or group opening balances of their subsidiaries. In the case of the capital consolidation in accordance with Section 301 of the Commercial Code, it may be stated that a difference between goodwill or goodwill on the assets side or a difference in the liabilities side of the assets side may be made. In the latter case, equity capital is not attributable to the undersigned provisions. Section 303 of the trade code on debt consolidation needs to be applied only to transactions between the parent companies and their subsidiaries. Interim results in accordance with section 304 of the Commercial Code also need to be calculated only if they are based on deliveries and services between the performing parent companies and their respective subsidiaries. In addition, the rules applicable to the Consolidated Financial Statements and the Consolidated Financial Statements shall be applicable to the establishment, verification, determination and disclosure of the provisions of this Act. Non-official table of contents

§ 22 Group attachment

(1) The Group attachment is to be applied in accordance with § 19. However, only those data which are essential for the assessment of the Group are to be taken from the annexes of the subsidiaries.(2) In addition, the information required in accordance with section 313 (2) of the Commercial Code shall be provided in the context of the consolidated financial statements. Section 313 (3) of the Commercial Code shall apply. Non-official table of contents

§ 23 disclosure and disclosure requirements

(1) Any parent company may have any information and information from its subsidiaries. require evidence that requires the preparation of the Group's opening balance sheet and the Group's attachment. This shall also apply to information relating to other tasks entrusted to the parent undertaking by law.2. The subsidiaries shall have their opening balance sheet, including notes to each parent undertaking, and, if they are parent undertakings at the same time, their consolidated balance sheet, including group notes, immediately after they have been drawn up, and the Audit reports must be submitted immediately after receipt of the reports. If the documents to be submitted are subsequently amended, the amended versions shall be submitted immediately after the amendment. If the documents are submitted prior to their determination, the statement shall be notified as soon as it has been made.

Section 3
Capital Equipment

name="BJNR211690990BJNG003102307 " />

Subsection 4
Balance of wealth and equity of previously fully owned enterprises

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§ 24 counterclaims

(1) companies that are the property of the Treuhandanstalt or one of its subsidiaries to privatize or to be owned by the Treuhandanstalt. have been transferred free of charge to the State, to the municipalities, towns, counties, countries or to other asset holders, and to the 1. In the case of non-financial institutions, foreign trade undertakings or insurance undertakings, the shares were still held in their sole shareholding in July 1990 when the statement of the opening balance sheet shows that they do not have a share capital , beginning with the 1. July 1990, an interest-bearing request (compensatory request) to be issued separately in the amount of the shortfall if the debtor does not reject the compensatory claim within three months of the date of submission of the recorded opening balance. He has to refuse them if the company is not capable of refurbishment. The refusal shall be notified to the company in writing. The compensation claim and the interest associated with it shall not be granted with the access to the declaration of refusal.(2) The compensatory amount shall be reduced in the amount of the amount by which the shortfall can be offset by the exploitation of the right to approach or evaluation. § 36 shall remain unaffected. The compensation claim shall be so galvanic that a devaluation due to a reduction in interest in accordance with § 13 para. 3 sentence 2 will not be necessary.(3) The compensation claim is directed against the company which has been granted the shares rights to the authorized company free of charge for the privatisation and reorganisation of the fully-owned assets. If the State, the Länder, counties, towns, municipalities or other property holders have been transferred by law to the State, to the countries, counties, towns, municipalities or other property holders, the compensatory claim against these entities shall be determined. If the trust institution is transferred free of charge to subsidiaries, those debtors shall be the compensatory claim. They may, in turn, claim compensation from the Treuhandanstalt pursuant to paragraph 1 if they are a direct subsidiary of the Treuhandanstalt.(4) The company shall inform the debtor of the compensation claim as soon as such a record is drawn up in the drawing up of the opening balance sheet. The debtor shall be subject to the rights in accordance with § 23 above. July 1990. The Treuhandanstalt shall immediately inform the Minister of Finance and the Federal Ministry of Finance of the compensation claims directed against the Treuhandanstalt.(4a) The company shall also inform the debtor of the compensation claim as soon as a settlement of the compensation claim or a repayment obligation pursuant to § 17 (4a) sentence 2 and 3 or section 36 (4) sentence 5 is obtained. Compliance with the information shall be examined by the auditor appointed for the audit of the annual financial statements in the context of the audit of the annual accounts. In accordance with Section 322 of the Commercial Code, it shall be supplemented accordingly if the information referred to in the first sentence has not been received.(5) parent undertakings which are debtors of a compensatory requirement under paragraph 1 shall, in the amount of their liability, enter into an investment recovery account on the assets side of their opening balance sheet, unless a non-binding one is not is to be drawn out by equity covered by the amount of the shortfall. The activated amount shall be written off in the following years at the level of the repayment of the compensatory amount. In the amount of the participation account, a special reserve shall be formed within the retained earnings, which may only be used to compensate for losses; the special reserve shall be released in accordance with the resolution of the participation account. available to the extent that it is not required to compensate for any loss incurred. The activated amount is not suitable for replacing outstanding deposits with the education of the subscribed capital or the capital recovery account in accordance with § 26 (4), § 28 (1). Non-official table of contents

§ 25 Compentable liabilities

(1) The first sentence of Article 24 (1) of the first sentence is set out in the list of the first sentence of the first sentence of the first sentence of (i) that a higher equity capital would be shown than the amount to be paid in respect of the assets in question, reduced by the amount to be paid in respect of the amount of the assets in question for the first time, It shall be subject to a compensatory obligation to be drawn up separately in the amount of the excess amount, which shall be the amount to be paid in July 1990. However, the minimum capital required by law for the legal form of the enterprise or its activity must not be undershot. § 36 shall remain unaffected. In the calculation of the compensation liabilities, special reserves pursuant to § 17 (4) sentence 3, § 24 (5) sentence 3 and subscribed capital, which are formed by outstanding deposits or a capital recovery account in accordance with § 26 (4), § 28, are not to be used. shall be considered. Assets of the property, property, assets, which are to be returned in accordance with the property law, and the liability or provision for the return obligation pursuant to section 7 (6) are also not to be used in the calculation of the compensatory liability. shall be considered. Section 24 (2) sentence 1 shall apply accordingly.(2) The creditor of the liability shall be the person who would be the compensation claim in the event of a compensation claim pursuant to section 24 (3) of the debtor. § 24 (2) sentence 3 shall apply mutagenly to the interest in the equalisation of the compensatory obligation. The shareholder may, as a creditor, issue the compensation in whole or in part. In the parent company's opening balance sheet, the amount made is to be attributed to the participation book value in accordance with section 11 (1) sentence 1.(3) The Company shall inform the creditor of the compensatory obligation as soon as such a record is drawn up in the drawing up of the opening balance sheet. The creditor is subject to the rights according to § 23 from 1. July 1990.(4) parent undertakings which are creditors of a compensation as referred to in paragraph 1 shall make a corresponding claim on the assets side of their opening balance sheet at the level of that amount. Amounts which are to be paid to the parent company for the repayment of the balance of the subsidiary undertaking shall be offset by this requirement.(5) If holdings or land are to be applied to a company with effect from 1. The Treuhandanstalt may request the issuance of the property if the insolvency or over-indebtedness of the enterprise arises or if the dissolution of the enterprise has been decided upon in July 1990. . As far as creditors, their claims after the 1. In the case of the opening of the total execution, the institution shall be responsible for the loss of the transfer of the assets transferred from the Treuhandanstalt up to the level of the value of the transferred assets. Claim shall be claimed only by the liquidator.(6) The Treuhandanstalt may request the transfer of assets from companies whose shares belong to it and which are not to be returned in accordance with Section 6 of the Property Law. In the time of 1. July 1990 until the date of the transfer, depreciation, value adjustments and provisions are to be corrected in accordance with § 36. The second sentence of paragraph 5 shall apply accordingly. Non-official table of contents

§ 26 Equity backup

(1) Companies within the meaning of Section 24 (1) sentence 1 shall have the amount to be paid as equity capital, the total amount of assets shown on the assets side of the opening balance sheet, including the special items to be entered under this Act and the balance of the accounts, shall be higher than the total amount of the assets held on the assets side of the opening balance sheet, including the total amount of the items Liabilities side of declared debt and the accounting delimitation.(2) If, in accordance with the law governing its legal form, the undertaking is required to form a subscribed capital, it shall be in the amount provided for in the articles of association or in the social contract, but at least in the amount of the law applicable to the company. to the minimum capital required. Section 27 (2) sentences 2 to 5, (3) and (7) shall apply.(3) The equity determined in accordance with paragraph 1 less the special reserves pursuant to section 17 (4) sentence 3, section 24 (5) sentence 3 and the provisional profit reserve pursuant to section 31 (1) sentence 2 for the formation of the subscribed capital shall not be cancelled, the amount of the shortfall shall be as an outstanding deposit on the assets side in front of the fixed assets separately. The statutory provisions governing the legal form of the company shall apply to the deposit of the capital. If the minimum deposit is not fully effected, the amount of the shortfall shall be deemed to have been requested. The claim shall not apply if the shareholder decides to dissolve the company within the deadline for the opening balance sheet, or if the opening of the overall execution is requested within that period. Section 24 (4) sentence 3 shall apply accordingly. Section 19 (4) of the Act concerning limited liability companies is not applicable.(4) After the company has transferred the company to a private legal form, the shareholder shall have its deposit up to 30. In the cases referred to in paragraph 3, a shortfall may be offset by the fact that, on the assets side of the opening balance sheet, in place of the standing deposit, in accordance with Section 28 (1) and (2), the amount of the deposit shall be replaced by the corresponding provisions of the Prerequisites a capital recovery account is expelled. § 30 shall apply.

Subsection 5
Redetermination of the capital ratios of private companies

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§ 27 Redetermination

(1) This subsection shall apply to all companies to which § 24 pursuant to paragraph 1 sentence 1 of paragraph 1 is not applicable, even if in accordance with Section 1 (5) of this Directive as from 1 The entire property of a company is considered to be one of the first to be held in July 1990, or in accordance with Section 4 (3). It was adopted in July 1990. The amount of equity referred to in Article 26 (1) shall be shown as equity.(2) Shares and limited liability companies on shares have their share capital, limited liability companies in the amount provided for in the articles of association or in the social contract, but at least in the amount of the statutory share capital. to the minimum capital required. The subscribed capital may be fixed at a higher level if, in the preparation of the opening balance sheet after deduction of the reserve in accordance with section 31, a higher equity capital is obtained. In the case of limited liability companies and limited liability companies, the excess amount shall be allocated to shares in the statutory reserve, in the case of companies with limited liability, of a special reserve which is only to compensate for losses or to the extent to which the shares are subject to a special reserve. Capital increase from company funds may be used. A statutory reserve or special reserve, as set out in the third sentence, may be dissolved or restructured into free capital reserves, provided that such reserve is not intended to cover the situation in the balance sheet in which the dissolution is to take place. Fixed assets are required. In all other cases, the disbanding or restructuring in the free capital reserves shall be permitted in the appropriate application of the rules governing the reduction of capital applicable to the respective legal form.(3) The shareholders may not receive any payments due to the redetermination and are not exempted from the obligation to perform deposits; § 57 (1) sentence 1, § 62 of the German Stock Corporation Act, § 30 (1), § 31 of the Act concerning the Companies with limited liability shall be applied in accordance with the reserves set out in the opening balance sheet. This shall not apply to measures taken by the Treuhandanstalt pursuant to Article 25 (5) and (6).(4) Open trading companies and limited partnerships have the capital deposits of their shareholders, to the extent that they have been agreed in the social contract, and limited liability companies in addition to the liability deposits of their co-anditists in the application of paragraphs 2 and 3 to the appropriate application. The right of withdrawal of the shareholders in accordance with Section 122 of the Commercial Code may not result in the equity capital shown in the opening balance sheet being lower than the sum of the amounts shown on the assets side in accordance with § 31. Personally liable partners shall reimburse the amounts which have been taken out of the company. If payments to a limited person lead to such a reduction in equity, they shall be deemed to be the repayment of the deposit in accordance with Section 172 (4) of the Commercial Code.(5) Cooperatives have to redefine the business assets, the shares of the business and the amounts of detention; the second sentence of the second sentence of paragraph 2 and the third paragraph of paragraph 3 shall apply accordingly.(6) In the case of redetermination, the shares may be made up to the following amounts:
1.
Shares on a nominal amount of fifty Deutsche Mark or higher nominal amounts, which are at full 100 Deutsche Mark,
2.
the shares in companies with limited liability to five hundred Deutsche Mark or any higher amount of the hundred divisible, regardless of the number of members,
3.
the
in the opening balance sheet, the subscribed capital and the reserves are to be shown in the amount of the amount shown in the opening balance sheet, such as the amount of the capital and the amount of the total amount of the shares. after the redetermination.(8) Paragraphs 2 to 7 shall apply mutas to a company in a legal form in accordance with Article 1 (2) (1) to (7) in each case where, in accordance with the law applicable to its legal form, it distinguishes between a subscribed capital and reserves; in so doing, shall apply in each case to the legal form which comes closest to that of the undertaking. Non-official table of contents

§ 28 Preliminary redetermination

(1) In place of a definitive redetermination according to § 27, companies that do not In the case of financial institutions or foreign trade undertakings, the redetermination is to be carried out on a provisional basis in such a way that the subscribed capital shown in the final balance sheet in Mark of the German Democratic Republic (capital stock, stock capital, deposits, Equity capital, business assets) with the same amount in German mark in the opening balance sheet and the difference between the amount of the subscribed capital and the equity capital determined in the preparation of the opening balance sheet. as a capital recovery account on the assets side of the opening balance sheet.(2) The amount shown as a capital recovery account shall not exceed nine tenths of the subscribed capital. A capital reserve may not be maintained. A profit reserve may be retained insofar as it has been formed in accordance with § 31 and, after a reasonable commercial assessment, it can be expected that the company will be able to repay the capital recovery account from future annual surpluses. The Company is obligated to balance the capital recovery account within five financial years after the closing date of the opening balance sheet. For the purpose of repayment, value increases are to be used as a result of the correction of value rates in accordance with § 36 as well as the annual surpluses. Any other use shall be prohibited as long as the capital recovery account exists. Non-official table of contents

§ 29 Company law relationships

(1) The relationship of the rights attaching to the shares shall be determined by does not affect the re-establishment.(2) Contractual relations of the company to third parties which are from the profit distribution of the enterprise, the nominal amount or the value of their shares or their subscribed capital or in any other way from the previous capital or Profit ratios depend on the new capital or profit ratios that have occurred as a result of the re-determination. Third parties need not have to apply a reduction in their rights under the first sentence, which is due to the redetermination, to the extent that it is based on the fact that in the opening balance sheet the subscribed capital is not subject to the reserves in one of the provisions of § § 27, 28 The situation is less favourable than is the case in the final balance sheet.(3) If a capital increase is decided upon during the existence of a capital recovery account, each shareholder shall, at its request, be allocated a portion of the new shares corresponding to its share of the subscribed capital to which it has been subscribed that it is because a third party has taken over the shares and has undertaken to offer them to the shareholders for reference. Non-official table of contents

§ 30 Resolution of capital devaluation accounts

(1) If a capital recovery account is not within the amount of § 28 (2) sentence 4 , the institution of the undertaking responsible for capital measures shall, at the latest when taking a decision on the use of the result from the financial statements of the fifth financial year after the date of the date of the closing date of the To decide on the measures necessary to compensate for the capital recovery account in a different way than by repayment, in particular by reducing the subscribed capital.(2) The measures referred to in paragraph 1 shall be implemented without delay. Their implementation shall be deemed to be the final redetermination. On the reduction of the subscribed capital, the regulations governing the legal form of the company, the stock companies and the limited liability companies on shares are the § § 229 to 236 of the German Stock Corporation Act (AktG) on the simplified

Sub-Section 6
Preliminary Profit Return

Non-official Table of contents

§ 31 Preliminary profit reserve

(1) Companies may, if they are not financial institutions or foreign trading companies, take the following measures to form a profit backsheet:
1.
The non-borrow-acquired intangible assets of the fixed assets may be used with the the amount which an acquirer of the undertaking would apply for the continuation of the sale of such assets as part of the total purchase price. A goodwill or goodwill may be taken into account.
2.
The expenses for the establishment and expansion of the business operations pursuant to § 269 sentence 1 of the The Commercial Code may be activated. These include all measures taken after the 1. " 3.
3.
grants, grants, and other financial benefits that are not available to the public.
3.
Third party repayment obligations shall be granted for investments, may be activated, provided that the contract for the investment has been made binding until the end of the opening period for the opening balance.
In the amount of the amounts activated in accordance with the first sentence of 1 to 3 shall form a profit reserve on the liabilities side, which shall be considered provisional until the amounts activated have been repaid.(2) The amount set out in paragraph 1 (1) shall be depreciated as planned within the period corresponding to the average remaining period of use of the revalued intangible assets of the company revalued in accordance with § 7. In the absence of comparative figures or if the ratios are not comparable, the amount shall be paid out by depreciation in at least one quarter in each of the following financial years.(3) The amounts shown for the establishment and extension of the business operations referred to in paragraph 1 (2) shall be depreciated by depreciation in at least one quarter in each of the following financial years.(4) The amounts activated in accordance with paragraph 1, point 3 shall be re-booked in the following years in a non-profit-neutral way, as soon as their accounting capacity has materially entered into force. If the claim referred to in paragraph 1 (3) is subsequently omitted, the amount set for this purpose shall be offset directly with the reserves.(5) Paragraph 1 (1) and (2) may be used only in so far as it can be assumed, after a reasonable commercial assessment, that the undertaking will be able to pay the expenses resulting from it and a distribution of profits. in the amount of the interest received from a compensatory claim in accordance with section 24 of the current proceeds, without prejudice to the capital stock shown in the opening balance sheet.(6) If the amounts referred to in paragraph 1 (1) or (2) are activated, profits may be paid out by depreciation only if the remaining redeemable retained earnings after the payout plus a profit before the payout and shall at least correspond to the amount attached to the loss of loss. Losses incurred shall be offset in the amount of the amortisation referred to in paragraphs 2 and 3 with the profit reserve. § 36 shall remain unaffected.(7) The amounts referred to in paragraph 1 shall not apply to the calculation of compensation claims and compensatory liabilities in accordance with § § 24, 25, the outstanding deposit in accordance with section 26 (3) and the capital recovery account in accordance with § 26 (4), § 28 (1). shall be considered.(8) The amounts activated in accordance with paragraph 1 and the profit reserve formed at the level of these amounts shall be identified separately and shall be explained in the Annex.

Section 4
Adjustment of achievements in German mark

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§ 32 Setting and adjustment of benefits in German Mark

(1) Verwise contracts, which are only after the 30. In the case of prices which have so far been fixed in accordance with State price rules but are no longer subject to a fixed price fixing, the price shall be the price if a price fixing up to 30% is to be met. It did not take place in June 1990 to determine the creditor by making a declaration to the creditor in respect of the payment. However, the provision made is only binding on the other part if it corresponds to the equity. If it does not correspond to the equity, the provision shall be made by judgment; the same shall apply if the provision is delayed.(2) (3) If, in the cases referred to in paragraphs 1 and 2, the re-determination takes place at a reasonable discretion within the time limit for opening the opening balance sheet, a provision in accordance with section 17 (2) shall only be made if it is to be expected that the

Section 5
Procedure

Subsection 7
Review

Non-Official Table of Contents

§ 33 Review

(1) The opening balance sheet and the appendix, but without the comparative representation in accordance with § 20, are provided by a Audit examiner. If no examination has taken place, the opening balance shall not be established. Capital companies and cooperatives whose balance sheet total in the opening balance sheet does not exceed three million nine hundred thousand Deutsche Mark after deduction of a shortfall in accordance with Section 268 (3) of the Commercial Code or which are no longer on the cut-off date. than fifty employees, the opening balance sheet and the annex need not be examined, provided that they do not have financial institutions or foreign trade undertakings or legal successor of a company under audit pursuant to § 1 (5) or § 4 Paragraph 3. Individual traders and persons trading companies do not need to have the opening balance checked, provided they are not financial institutions.(2) Is the enterprise in the period of 1. 1 March 1990 to 30 March 1990 The examination of the opening balance may also be included in the examination of the establishment or conversion by law or by means of a decision in a private legal form on the basis of a law or of a decision. This also applies to the examination of non-material deposits.(3) The consolidated balance sheet and the consolidated financial statements shall be examined by an auditor. If no audit has taken place, the consolidated balance sheet cannot be established.(4) Where the documents examined are modified after the examination report has been submitted, the auditor shall re-examine these documents to the extent that the amendment requires the amendment. The result of the audit shall be reported, and the audit opinion shall be supplemented accordingly.(5) § 317 of the Commercial Code on the subject matter and scope of the examination must be applied with the proviso that the inventory should also be included in the examination. In the case of financial institutions and foreign trade companies, the comparative representation according to § 20 shall also be examined.(6) Without prejudice to the provisions of the third sentence of paragraph 1, cooperatives of any kind, including cooperative entities, shall be required to dissolve in accordance with the law applicable to them at a later date, if they are not converted, and the , in its opening balance sheet, a balance sheet total of not more than one hundred and twenty-five million German marks, or employ no more than five thousand employees at the balance sheet date, and the non-financial institutions or foreign trade companies , the opening balance sheet shall not be checked if they have transferred the drawing up of the opening balance sheet and the Annex to a person who is publicly appointed as a chartered accountant or a sworn accountant in accordance with the Rules of Auditors ' Rules or as an audit firm, or has been appointed as a tax consultant or as a tax representative under the Tax Consultation Act or has been recognised as a tax consulting company, or as an association for the management of the name "Agricultural Accountable Office" is authorized or is a specialist lawyer for tax law. However, the obligation to audit shall not apply only if the person performing the examination declares in writing that
1.
The opening balance sheet is based on a proper inventory or the inventory according to § 3a has been obtained and
2.
the opening balance and the appendix of it under Observance of the principles of regular accounting has been drawn up in such a way that these documents provide a true and fair view of the financial situation within the meaning of section 264 (2) sentence 1 of the Commercial Code
The opening balance sheet shall be accompanied by the statement made in accordance with the second sentence and a statement by the management, which indicates that it has submitted all the documents to the person in charge and has given all the information necessary for the Installation was required. Section 323 (2) of the Commercial Code on liability in the event of negligence shall be applied accordingly. The sentences 1 to 3 shall be applied in accordance with the examination associations referred to in Article 34 (2). Non-official table of contents

§ 34 Examination of the audit

(1) Reviewers can be ordered according to the Federal Republic of Germany's Economic Examination Regulations and be sworn accountants and certified accounting firms. Limited liability companies whose balance sheet total in the opening balance sheet does not exceed fifteen million five hundred thousand Deutsche Mark after deduction of a shortfall in accordance with Article 268 (3) of the Commercial Code or which on the reporting date of the Opening balance sheet no more than two hundred and fifty employees, their opening balance sheet may also be certified by sworn accountants or recognized accountants appointed by the Federal Republic of Germany on the basis of the Federal Republic of Germany's Economic Examination Regulations. Let accounting firms check.(2) If the company is a cooperative, under the following conditions, the examinations prescribed in accordance with § 33 shall be carried out by an examination board, instead of the persons referred to in the first sentence of paragraph 1, to which the examination law according to § 63 of the Law concerning the Cooperatives of Acquisition and Economic Cooperatives. The Examination Board is only entitled to audit, provided that more than half of the members of his Board of Management are auditors as referred to in the first sentence of paragraph 1. If the Board of Examiners has only two members of the Board of Management, one of them must be the auditor in accordance with the first sentence of paragraph 1. If the association, to which the cooperative belongs as a member, has concluded an agreement on the conduct of examinations with an audit association in the Federal Republic of Germany, the association is responsible. Section 55 (3) of the Law on the Acquisition and Economic Cooperatives remains unaffected.(3) If the company is a savings bank, the examinations prescribed in accordance with § 33 may only be carried out by the examination office of a savings bank and giro association, by way of derogation from § 319 (1) sentence 1 of the Commercial Code. However, the examination may only be carried out by the Examination Office if the head of the examination office fulfils the conditions laid down in Section 319 of the Commercial Code. In addition, it must be ensured that the auditor is able to carry out the examination independently of the instructions of the institutions of the Savings Banks and Girobans.(4) The order of the auditor in the cases referred to in paragraph 1 shall be subject to Article 318 of the Commercial Code, subject to the condition that the managing body of the undertaking may provisionally appoint the auditor, in particular in order to ensure that the auditor is present at the Inventor. The confirmation of the persons appointed for the election of the examiner pursuant to § 318 of the Commercial Code shall be obtained without delay.(5) The examination shall apply in accordance with § § 317, 318, 319 (2), 3, § § 320 to 323 of the Commercial Code.

Subsection 8
Determination and correction

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§ 35 Determination

(1) The opening balance sheet and the appendix as well as the group opening balance sheet and the consolidated financial statements require the determination. The rules applicable to the establishment of these documents shall also be applied in the case of the determination. The determination shall be made, in the case of individual undertakings, by the holder, by other undertakings by the shareholders or by the institution otherwise competent in the form required for decision-making in accordance with the legal form of the undertaking, immediately after the presentation of the The opening balance sheet and the appendix shall be at the latest before the end of the twelfth month and by small enterprises in accordance with Article 4 (1) sentence 2 at the latest before the end of the fifteenth month after the balance sheet date, which shall: The consolidated balance sheet and the consolidated notes shall be established no later than two months after the end of the period of delivery in accordance with section 21 (1) sentence 1. The total opening balance and the overall slope shall be determined within two months of the end of the period of installation according to Article 21 (5). For this purpose, the management body shall, without delay, submit the documents to be determined after it has been drawn up and the audit report, following its submission to the institution appointed for the purpose of the determination. If the company has a Supervisory Board, the Supervisory Board shall examine the documents in the appropriate application of Section 171 of the German Stock Corporation Act and report on the result of the examination in writing.(2) The documents referred to in the first sentence of paragraph 1 may not be established if the opinion has been denied. The opening balance sheet or the consolidated balance sheet shall be void if it has not been verified or has not been determined in the prescribed form in the case of an existing audit obligation. If the dossier is amended after examination, a decision on the determination shall not take effect until a confirmation of the amendments has been given in full on the basis of the re-examination.3. The managing body shall submit a report to the determining body, together with the documents to be determined, in which the proposals for the realignment of the capital ratios and the essential circumstances for which the decision is taken shall be presented to the determining body. The valuation of the assets and the proposals for redetermination have been decisive, insofar as these explanations do not result from the appendix or the Group's annex.(4) If the opening or reopening balance sheet is established before the end of a period which requires or allows the taking into account of balance sheet or value-added rates at a later date, an immediate change is not necessary. The resulting corrections can subsequently be taken into account in the context of the establishment of the next conclusion according to § 36. Non-official table of contents

§ 36 Correction of ad valorization

(1) For the preparation of subsequent financial statements, assets shall be established or special items in the opening balance sheet, or have been unjustly or with too low a value or debt or special item which have been set at too high a value, the later balance sheet shall be subject to the failed approach or to the To correct the value of the value if the amount is a substantial amount, even if the assets or liabilities are no longer present at the balance sheet date, but only for the annual accounts following the change in property. The profit shall be adjusted in a special reserve pursuant to section 27 (2) sentence 3, in the case of public limited liability companies, to the statutory reserve up to the prescribed amount, insofar as it does not result in a loss from a reduction of the special loss account In accordance with § 24 (1) or the compensation claim pursuant to section 24 (5) or the standing deposit pursuant to section 26 (3) or of the capital recovery account in accordance with section 26 (4), section 28 (1) of the German Law on the Compensation of Investment (SOS) or a loss arising from the increase in the compensation liabilities in accordance with section 25 (1).(2) In the drawing up of subsequent financial statements, assets or special items in the opening balance sheet have been unjustly or not valued at too high a value or debt or special item, or with too low a value. , in the subsequent balance sheet, the value of the value shall be corrected or the non-profit-making approach shall be obtained if it is a substantial amount; this shall also apply if those assets or liabilities are no longer at the balance sheet date; , but only in respect of the annual accounts following the change in property. The loss is to be offset openly with the equity capital, in advance with the annual result and the profit reserves, in so far as it is not with the profit from an increase in the special loss account from the provision of remission pursuant to § 17 para. 4 or the Compensation in accordance with Section 24 (1) or of the participation account pursuant to section 24 (5) or the standing deposit pursuant to section 26 (3) or of the capital account pursuant to section 26 (4), § 28 (1) or the profit from a reduction of the Compensatory liability in accordance with § 25 (1) is to be offset.(3) Paragraphs 1 and 2 shall also apply where an electoral law granted for the opening balance sheet is subsequently exercised with effect for the right to vote. The profits referred to in paragraph 1 may be offset with losses under paragraph 2 only within the equity capital. Paragraph 1 shall also apply if, at the end of the period of detention, a debt taken into account in the opening balance sheet has been adopted, taken over by a third party free of charge, or economically carried by it, or in a subordinated debt is converted according to § 16 (3) or § 17 (5) sentence 4. If the change in value or stock is based on measures taken by the Treuhandanstalt, or if it is based on administrative acts for the prevention of risks and for the elimination of impairments within the meaning of Article 17 (2a) sentence 1 or agreements with the competent authority The managing authority shall be deemed to be a shipyard within the meaning of paragraphs 1 and 2.(4) In the cases referred to in paragraphs 1 to 3, the opening balance sheet shall be deemed to have been amended. Paragraphs 1 to 3 shall be applied last time to annual accounts for financial years ending in 1994 and, if the correction is related to environmental damage, in the year 2000; the correction shall be based on a post-31 basis. The settlement of property law in the implementation of the provisions of the Unification Treaty and of the provisions adopted for its implementation, in particular on the measures of asset allocation, asset return or subject-matter and related capital transfers to undertakings or to measures in the implementation of the Altschuldenassisting Act, paragraphs 1 to 3 shall apply until the implementation of the relevant measure. Claims and liabilities in accordance with § § 24, 25 and 26 (3) may no longer be changed, insofar as they have been transferred to a third person at the time of the rectification or the security rights of third persons are affected thereby. or if the majority of the shares in the company are based on another person or a legal successor pursuant to section 23a (1) and (2) of the Treuhand Act outside the area of the Treuhandanstalt and the federal assets administered by it has been transferred. Claims and liabilities in accordance with § § 24, 25 and 26 (3) or § § 40, 41 may be amended at the end of the year in the annual financial statements, which are the 31. It will be established in December 1994. If a correction made in a subsequent balance sheet leads to the fact that a compensation claim under section 24 or section 40 would not have been or would not have been incurred in the indicated amount, then an amount corresponding to the correction shall be provided by the person who is responsible for the correction. If the debtor of this payment obligation is still creditor of the compensation claim in accordance with § 24, he or she may, irrespective of the maturity of the compensatory claim, be responsible for the compensation claim. Charge. Sentence 5 shall not apply without prejudice to Section 17 (4a) if the correction is excluded in accordance with sentence 3.(5) Paragraphs 1 to 4 shall be applied to the consolidated balance sheet accordingly.(6) Paragraphs 1 to 4 shall also apply to the acquired assets, liabilities and special items, including the restrictions on disposal, and the resulting equity in the annual accounts of those companies which have been transferred after the 1. July 1990, by the establishment, transformation, merger, division or unbundling of the companies referred to in § 1 (1) to 3 (3), with the continuation of the book values from their D-brand opening balance. name="BJNR211690990BJNG005102307 " />

Subsection 9
Disclosure

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§ 37 Disclosure

(1) Companies shall disclose the opening balance sheet and the notes and the consolidated balance sheet and the consolidated notes within one month after the end of the period of notice, if they are in accordance with their legal form or because of their legal status. are required to disclose their annual accounts or if they have a balance sheet total of more than one hundred and twenty-five million Deutsche Mark in their opening balance sheet or in their consolidated statement of the Group's opening balance; and On the balance sheet date, more than five thousand workers are employed. § § 325, 326, 328 and 339 of the Commercial Code are to be applied accordingly; to the determination of the size characteristics, § 5 para. 2 shall apply. The comparative representation according to § 20 does not need to be disclosed. § 4 of the Act on the entry into force of legislation of the Federal Republic of Germany in the German Democratic Republic of 21. June 1990 (GBl. No 34 p. 357) shall not apply.(2) In the course of the filing of the documents, the Register Court shall examine whether the documents have been completed and, where required, have been published in due time.(3) Where the examination of the establishment, conversion or contributions in kind has been included in the examination of the opening balance sheet, the Court of First Instance may submit that the valuation of assets for assets in the opening balance sheet shall be the actual value of the balance sheet. , if the opening balance sheet and the annex have been given an unqualified audit opinion.(4) Companies that are after the up to 30 years. The Federal Statistical Office of the German Democratic Republic (DPRD), in accordance with the provisions of the legislation of the Federal Statistical Office of the German Democratic Republic (DPRD), had to issue a double copy of the D-mark opening balance immediately after it was established by the Treuhand

Section 6
Business Two-Related Rules

Subsection 10a
Rules for financial institutions and Foreign Trade Companies

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§ 38 Scope

(1) Money institutions and foreign trade companies have the the provisions of this Act, unless otherwise specified in this subsection. They may not take advantage of the facilities permitted by this law in terms of size. § 19 (3) (1) (a) of this Act and Article 26 of the Law on Credit Esen shall not apply to financial institutions. § 1 (5) sentence 2 and 3, § 4 (3) sentence 3 shall not apply to financial institutions and to foreign trade companies.(2) Money institutions are companies that are prior to the 1. July 1990 in the currency area of the Mark of the German Democratic Republic, the Bank had the power to operate banking transactions in accordance with Section 1 (1) of the Law on Credit; the power may be exercised by law, regulation, administrative order or administrative authority. Permission shall be based.(3) Foreign trade enterprises are undertakings which are prior to 1. July 1990 in the currency area of the mark of the German Democratic Republic on behalf of public authorities within the framework of the foreign trade and value monopoly business with companies or countries outside the currency area of the German mark of the German Democratic Republic. To this end, companies that have taken over the business operations of foreign trade companies in whole or in part for the purpose of settlement are also expecting the assets to be liquidate.(4) The opening balance sheet and the appendix of the financial institutions and foreign trade undertakings shall be established at the latest before the end of the eighth month after the balance sheet date. Up to this date, measures may be taken into account in accordance with § 1 (5) sentence 1 or § 4 (3) sentence 1 and 2. Non-official table of contents

§ 39 Opening balance sheet

(1) By way of derogation from § 247 (1), § § 251, 265 (5) to 7, § § 266 to 268 of the German Federal Institute for International Law (NEC) Trade Code, and without prejudice to a further breakdown, the opening balance sheet in accordance with the Regulation on forms for the breakdown of the annual accounts of credit institutions, as amended by the 14. September 1987 (BGBl. 2169), namely
1.
A financial institution which is a capital company, in accordance with the model 1 of this Regulation for the balance sheet,
2.
financial institutions, which are registered cooperatives, in accordance with the model 2 of this Regulation for the balance sheet,
3.
Money institutions that are savings bank, and other financial institutions of public law according to patterns that are set by amending this regulation.
(2) have financial institutions in the opening balance sheet, flat-rate corrections pursuant to section 13 (3) to claims arising from banking transactions of 1 of the hundred and on contingent assets of the banking business of guarantees and other warranties of 0.5 from the hundred of the The total amount of claims to be paid to customers, unless they are directed against a local authority, a public-law corporation, an institution or a financial institution in the currency area of the Deutsche Mark, or vouched for by them .(3) The maintenance of the flat-rate correction in future balance sheets shall be based on the general principles of valuation.(4) By way of derogation from Section 16 (1), the liabilities of the financial institutions, which are denominated in the German Democratic Republic Mark, shall be those of the German Democratic Republic, which shall be prior to the first. The reasons for the repayment of a Deutsche Mark for a Mark of the German Democratic Republic:
liabilities to natural persons resident in the German mark are to be converted into German marks in July 1990. Democratic Republic,
-
which is after the 1. July 1976, up to two thousand marks,
-
which is between the 2. July 1931 and 1. July 1976, up to four thousand marks,
-
which is before the 2. July 1931, up to six-year-old Mark,
provided that they have submitted a corresponding application. In addition, they are in accordance with the 31. (c) to convert to natural or legal persons or bodies whose residence is outside the German Democratic Republic in such a way that three marks of the German mark were established in 1989. A German mark is credited to a democratic republic, provided that such persons or bodies have made a request for such a mark. unofficial table of contents

§ 40 counterclaims

(1) financial institutions and foreign trade enterprises are used as far as their assets are used in the application of the Valuation provisions of subsection 2 of this Act to cover liabilities arising from the introduction of the currency of the German mark and the changeover in the German Democratic Republic, including the Provisions are not sufficient, starting with the 1. In July 1990, an interest-bearing request was made against the monetary conversion fund. Interest rate interest rates shall not be granted.(2) In the case of financial institutions, the claim must be set at the level that the assets are sufficient to cover the debt referred to in paragraph 1 and to show equity in the amount that it is at least four out of the hundred of the balance sheet total and the amount of the assets referred to in paragraph 1. Utilization of the principle I adopted pursuant to § 10 of the Law on credit accounts by the Federal Supervisory Office for the credit sector in the version of the notice of 19. December 1985 (Federal Gazette No 239 of 24 December 1985). 15302) is not more than three times as much as in the case of the Commission.(3) In the case of foreign trade undertakings, the compensatory requirement shall be set at the level that the assets are sufficient to cover the debt referred to in paragraph 1.(4) § 36 shall be applied in accordance with the proviso that it does not matter to the extent of materiality. Section 36 (4) sentence 3 shall not apply.(5) § 24 (2) sentence 1 shall apply. Non-official table of contents

§ 41 Compensatory liabilities

(1) Financial institutions and foreign trade companies have their opening balance sheet on the 1. July 1990 In the case of financial institutions, liabilities in respect of the compensation fund for monetary conversion (compensatory liabilities) are to be adjusted in the amount of the limits specified in Article 40 (2) and in the case of foreign trade undertakings. Assets exceed the debt.(2) § 24 (2) sentence 1 and § 40 (1) sentence 2 and paragraph 4 are to be applied accordingly. Non-official table of contents

§ 42 Comparative representation

In the comparative presentation according to § 20, financial institutions must also be specified,
1.
for which claims over ten thousand Deutsche Mark they are at the cut-off date 1. (a) the amount of the amounts deposited shall be indicated and justified;
2.
the number of accounts, on the basis of which the amounts are to be paid. those in Mark of the German Democratic Republic
a)
up to two thousand German marks in the Ratio one to one,
b)
up to four thousand Deutsche Mark in ratio one to one,
c)
up to sixstausend Deutsche Mark in ratio one to one
to be credited;
3.
Total amount of credits in Mark of the German Democratic Republic, for which a change request may be made.
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§ 43 Examination

(1) By way of derogation from Section 34 (1), financial institutions and foreign trade companies in the legal form of a capital company or of public law may only be subject to an auditor or an auditor. The audit firm shall be audited if they are not savings banks.(2) The examination shall also cover the question whether, in the case of the subsequent conversion of account balances of natural persons, the conditions laid down in Article 5 (7) of Annex I to the Treaty on the creation of a monetary, economic and social security shall be extended to the Social Union between the Federal Republic of Germany and the German Democratic Republic for the re-establishment of rights.

Subsection 10b
Abduction requirement for financial institutions and Foreign Trade Companies

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§ 43a Abduction obligation for value rectified claims

(1) A financial institution shall be obliged to pay interest and redemption amounts which the debtor or a third party shall pay after the 31. 1 December 1994 and before 1. January 2030 to be one of them before the 1. The loan granted in July 1990 to the compensatory fund for the conversion of the currency, if the financial institution has made a value adjustment in its current account in D-market opening. If the claim was only partially corrected, interest and repayment amounts are to be deducted only in so far as they do not serve to serve the value-containing part of the claim.(2) The amounts of interest and redemption within the meaning of paragraph 1, which the debtor or a third party has made on loan receivings which the financial institution does not meet with the debtor in accordance with Section 13 (4) with the debtor, shall also be deducted from the loan. has recorded its opening in the market in D-markets. Non-official table of contents

§ 43b Abduction obligation for value-added debt

Is one considered in the D-market opening balance Binding or resetting after the 31. 1 December 1994 and before 1. The financial institution shall, in full or in part, be disbanded in full or in part due to the fact that the debt is to be lost or no longer to be reckoned with, the financial institution shall have to pay an amount corresponding to the correction to the compensation fund for the changeover. The amount is from 1. It shall be subject to the interest rate applicable to compensatory claims, until the date of discharge to the compensatory fund, until the date on which the compensation is paid. Unofficial Table Of Contents

§ 43c Maturity

Incoming Interest And Redemption Amounts according to § 43a are within six weeks from the receipt of the payment to be paid to the compensation fund for currency conversion. Abductions in accordance with § 43b shall be made within six weeks from the date of the determination of the annual financial statements in which the correction is made. Non-official table of contents

§ 43d Abduction verification

The performance of the abduction is from the audit of the annual financial statements Auditor in the context of the audit of the annual accounts. He has to deal with this in the examination report in accordance with § 321 of the German Commercial Code. Non-official table of contents

§ 43e Foreign Trade Holdings

The requirements of this subsection are applicable to foreign trade companies.

Subsection
Rules for insurance companies

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§ 44 Scope

(1) Insurance companies have to comply with the provisions of this law, unless otherwise specified in this subsection. They may not take advantage of the facilities permitted by this law in terms of size. § § 55, 56 (1) of the Insurance Supervision Act are not to be applied.(2) Insurance undertakings are undertakings which are the subject of the operation of insurance operations and which are not social security institutions. This includes companies which are not subject to insurance supervision or have no legal personality of their own. The provisions relating to insurance undertakings shall also apply to undertakings which have no authorization to operate as insurance undertakings or which are in liquiding-up. Non-official table of contents

§ 45 Opening balance sheet

(1) Insurance insurance companies have, by way of derogation from § 265 (6), (7), § 266 to 268 of the The Trade Code, and without prejudice to a further breakdown, the opening balance sheet in accordance with the Regulation on the accounting of insurance undertakings of 11. July 1973, as last amended by Regulation of 23 July 1973. December 1986 (BGBl. 1987 I p. 2).(2) Insurance undertakings shall have the provisions in accordance with Article 56 (3) of the Insurance Supervision Act. Section 56 (4) of the Insurance Supervision Act shall apply. Section 17 (4) shall also apply to technical provisions, with the exception of the contribution surcharges.(3) In addition, insurance undertakings have in the Annex the provisions of Section 12 (3) of the Regulation on the accounting of insurance undertakings of 11. The information required was provided for in July 1973. Non-official table of contents

§ 46 Review. Submission

(1) By way of derogation from § 34 (1), insurance undertakings may only be audited by an auditor or an accounting firm.(2) The D-marker opening balance, the Annex and the final balance sheet for the 30. June 1990 at the latest before the end of the eleventh month after the balance sheet date, the consolidated balance sheet and the consolidated notes at the latest before the end of the seventeenth month to the Federal Supervisory Office for the insurance sector in two-fold . No later than the end of the twelfth month after the balance sheet date, the report of the auditor of the examination in accordance with § 33 (1) sentence 1 shall be the report on the examination in accordance with § 33 (3) sentence 1 at the latest before the end of the nineteenth month of the Federal supervisory authority for the insurance sector in two copies.

Section 7
Criminal and monetary rules. Penalty payments

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§ 47 Penal provisions

(1) The criminal provisions of § § 331 to 333 of the The Commercial Code shall be applied in accordance with the opening balance sheet, the annex, the consolidated balance sheet, the group annex and the auditors to be ordered under this Act. Sentence 1 shall also apply to undertakings not operated in the legal form of a capital company.(2) § 331 of the Commercial Code is also applicable to the breach of duties by the Executive Director (Section 1 (2) sentence 1 of the Law on the Banking Act) of a non-legal form of a capital company. Financial institutions, by the holder of a financial institution operated in the legal form of the individual businessman or by the manager within the meaning of Section 53 (2) (1) of the law on credit. Non-official table of contents

§ 48 Penal rules

(1) is an administrative offence, who is a member of the representative body or the body responsible for the administrative procedure. Supervisory board of a company or as a manager within the meaning of section 1 (2) sentence 1 or section 53 (2) (1) of the law on the credit system or as the holder of a company operated in the legal form of the individual businessman
1.
when drawing up or determining the opening balance or attachment of a rule
a)
§ 4 para. 2 sentence 1 or 2 or § 5 para. 1 sentence 1 in conjunction with § 243 para. 1 or 2, § § 244, 245, 246, 247 para. 1 or 2, § § 248, 249 (1) sentence 1 or (3), § 250 (1) sentence 1 or (2) or § 251 of the Commercial Code on form or content,
b)
of § 5 1 sentence 1 in conjunction with Section 253 (1) sentence 2, subsection 2 sentence 1, 2 or 3 or para. 3 sentence 1 or 2, § 255 para. 1 or 2 sentence 1, 2 or 6 of the Commercial Code or the § § 6 to 18 on the valuation,
c)
§ 5 paragraph 1 sentence 2 in conjunction with Section 265 (3) to (8), § § 266, 268 (3) to (7) or § 272 of the Commercial Code or § 39 (1) or (2) or § 45 on the outline or
d)
of § 19 (1) to (3), § § 20 or 22 on the information to be provided in the appendix
2.
in the preparation of the group opening balance or the group attachment of a rule
a)
§ 21 para. 3 on the scope of consolidation,
b)
of § 21 paragraph 4 sentence 1 in conjunction with § § 5 bis 19 or § 297 (2) or (3) or § 298 (1) of the Commercial Code, in conjunction with Section 243 (1) or (2), § § 244, 245, 246, 247 (1) or (2), § § 248, 249 (1) sentence 1 or (3), § 250 (1) sentence 1 or (2) or § 251 of the German Commercial Code. Trade Code, Form or Content,
c)
Section 21 (4) sentence 1 in conjunction with Section 300 of the Commercial Code on the Consolidation Principles or the
(4) sentence 1 in conjunction with Section 311 (1) sentence 1 of the Commercial Code, which is in conjunction with Section 312 of the German Commercial Code, on the basis of the German Code of Commerce. the treatment of associated companies, or
e)
of § 22 on the statements to be made in the Group attachment,
3.
in connection with the disclosure, publication or reproduction of a provision in § 37 (1) sentence 1 in conjunction with Section 328 of the Commercial Code of Form or Content or
4.
the provision of section 37 (4) on the submission of the D-Markeropening balance sheet
.(2) A breach of order shall also be used to give a note in accordance with section 322 of the German Commercial Code for an opening balance sheet or an annex or a consolidated balance sheet or a group attachment to be examined under statutory provisions. although according to § 34, paragraph 5 in conjunction with Section 319 (2), (3), (5), § 319a (1) sentence 1, paragraph 2 of the Commercial Code, or in conjunction with Section 319a (1) sentence 2, also in conjunction with § 319a (1) sentence 2, or § 319a (1) sentence 4 of the German Commercial Code (§ 319a) The Commercial Code shall not be an auditor for the accounting firm or accounting firm for which it is acting.(3) The administrative offence can be punished with a fine of up to fifty thousand euros.(4) In the cases referred to in paragraphs 1 and 2, the Administrative Authority shall be the Federal Office of Justice in the cases referred to in Article 36 (1) (1) of the Act on Administrative Offences. Non-official table of contents

§ 49 Setting of administrative money

Against members of the representative body, in the case of individual companies against the Holders who do not comply with § 37 of this Act in connection with Section 325 of the Commercial Code on the obligation to disclose the opening balance sheet or the attachment or the group opening balance sheet or the group attachment are not due to the non-compliance If the Federal Office of Justice does not disclose the disclosure in accordance with Section 335 of the German Commercial Code. § 335 para. 1 sentence 2 of the Commercial Code shall apply accordingly.

Section 8
Taxes. Fees

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§ 50 Tax opening balance sheet and impact

(1) taxable persons, the legal entities of a company in accordance with § 1, the provisions of this law shall also apply to the determination of the profits of the tax. A taxable person, who is a legal entity of a company which is referred to in Article 1 (5) as the first subparagraph of Article 1 (1). The company was born in July 1990, and is now in the business of 1. July 1990 for tax on income and income tax. If the transfer of assets or liabilities in accordance with Section 4 (3) is already in the opening balance sheet of the companies concerned, 1. It shall also apply to the tax liability of the legal entities of the undertakings concerned.(2) For 1. A tax opening balance sheet must be drawn up in July 1990, which, apart from the following deviations, must be in accordance with the trade-law opening balance sheet. An asset item formed in accordance with Section 9 (3) or (31) (1) (2) and (2) and (3) shall not be used; a period of 15 years shall be deemed to be the normal service life of an active item pursuant to section 31 (1) (1) sentence 1. The first sentence of Article 11 (1) is to be applied with the proviso that the participation book value corresponds to the reported pro-rata capital in the tax opening balance sheet of the undertaking in which the holding is involved. § 5 (2), (3) and (5) of the Income Tax Act shall apply. Provisions pursuant to Section 5 (4) of the Income Tax Act and provisions pursuant to Section 249 (1), second sentence, No. 1, sentence 3 and paragraph 2 of the Commercial Code may not be formed. The second sentence of Article 9 (2) and the second sentence of § 10 (1), second sentence, and second sentence of paragraph 2 shall not apply. Section 54 (1) to (3) and (5) shall apply mutas to the formation of pension provisions.(3) The correction of approaches in accordance with § 36 leads to a correction of the tax opening balance sheet and of any subsequent picture balances. If tax assessments have already been adopted, they shall be amended to the extent that the correction of balance sheet or value-added tax leads to a change in profit or loss or has an effect on the determination of unit values. In the cases of Section 36 (4), second sentence, the period of commit shall begin at the end of the calendar year in which the correction of the tax opening balance sheet and any subsequent balance sheets shall be made.(4) amounts which are used to compensate for a capital recovery account in accordance with § 26 (4) or § 28 (1) may not be deducted from the tax-legal profit determination.(5) Paragraph 1 to 4 shall apply mutatily to taxable persons who voluntarily lead books and make regular accounts. Non-official table of contents

§ 51 Change-related asset changes

(1) The items from the opening balance sheet and the re-determination pursuant to section 26 (2) to 4, § § 27, 28, 30, the resulting numerical changes in the assets of the taxable persons referred to in § 50 (1) or (5), as well as their shareholders or members, do not affect the taxes on income and income. This applies in particular to the formation of reserves or to the dissolution of previous subvaluations, if the returns are based on the revaluation of assets and liabilities, which are not later than 1. Operating assets have been or have been operating on the company with effect from 1 July 1990. , or on the issue of debt, was transferred in July 1990.(2) The resulting changes in the number of assets of the companies and their shareholders referred to in § 1 and in the assets of the cooperatives and their comrades referred to in § 1 shall not be subject to the taxes of capital movements. Non-official table of contents

§ 52 Tax base values in other cases

(1) In the case of taxable persons who make their profit pursuant to § 4 (3) of the Determining income tax law shall be deemed to be the cost of purchase or production of the economic goods, which shall be at the latest by 1. July 1990 fixed assets or on the taxable persons with effect from 1. The values which result from the corresponding application of § § 7 to 11 and 18 have been transferred. The value of the goods referred to in the first sentence of the first sentence shall be 1. A special list (investment directory) was to be included in July 1990. Results up to 31. December 1994, including that they are 1. The investment register shall be adjusted in so far as the investment register has already been adopted; if tax assessments have already been issued, they shall be amended in so far as the date on which the investment list has been adopted is to be amended in the same way as: the correction leads to a change in profit or loss.(2) Paragraph 1, Sentences 1 and 3, shall apply accordingly to taxable persons with income from non-self-employed labour, capital assets, leasing and leasing or with other income pursuant to § § 17 and 22 of the Income Tax Act. Retransmissions according to the asset law are not purchases. In such cases, the cost of acquisition or production shall be those resulting from the corresponding application of the first and third sentences of paragraph 1. Non-official table of contents

§ 53 Economic years 1990 and tax final balance sheet

For taxable persons with income pursuant to § 2 para. 3 no. 1 to 3 of the income tax law are the periods of 1 year in the calendar year 1990. January to 30. June and 1. July 31, 2016 December. In the final tax balance of the 31. In December, provisions in accordance with § 5 (4) of the Income Tax Act cannot be made and pension provisions can only be established under the conditions of § 54. Non-official table of contents

§ 54 Pension provisions

(1) For a pension obligation, a provision (pension provision) may only be formed if
1.
the pensioner is entitled to a legal right to one or more pension benefits,
2.
the pension commitment does not contain a reservation that the pension scheme or pension benefits may be reduced or withdrawn; or such a reservation only extends to situations where, in accordance with general principles of the law, a reduction or withdrawal of the pension or pension benefits is permitted, subject to the approval of the agreement's discretion, and
3.
The pension commitment is given in writing.
(2) A pension provision may be formed for the first time
1.
prior to entering the utility for the marketing year in which the pension commitment is granted, however, at the earliest for the marketing year, until the middle of the pensionable person the 30. Year of Life completed,
2.
after the supply case has been entered for the marketing year in which the supply case occurs.
(3) A pension provision may be returned. at most with the partial value of the pension obligation. The partial value of a pension obligation is
1.
before termination of the service of the Guardians of the cash value of future pension benefits at the end of the marketing year minus the cash value of the same date in terms of the amount of the same annual amounts. The annual amounts shall be calculated in such a way that at the beginning of the marketing year in which the service has commenced, their cash value is equal to the present value of the pension benefits in the future; the future pension benefits shall be equal to the sum of the amount of the pension. , which results according to the conditions at the balance sheet date. It shall be based on the annual amounts which, from the beginning of the marketing year in which the service has commenced, are to be applied in the accounts up to the date of entry of the supply case, as provided for in the pension supplement. Increases or reductions in pension benefits after the end of the marketing year, which are uncertain as to the date of their effectiveness or scope, shall be used in calculating the present value of the future pension benefits and the The annual amounts shall be taken into account only when they have occurred. In the event that the pension commitment is not granted until after the commencement of the service, the interim period for the calculation of the annual amounts shall be treated as a waiting period only to the extent that it is determined as such in the pension commitment. Has the service ratio already before the completion of the 30. The pensionable age of the pensioner shall be deemed to have commenced at the beginning of the marketing year, until the age of the pensioner is 30 years. " Year of service
;
2.
after termination of service of the pensionable person, with the maintenance of his or her pension rights or after the entry of the If the cash value of future pension benefits is at the end of the marketing year, the fourth sentence of paragraph 1 shall apply.
In the calculation of the value of the pension obligation, an invoice rate of six of the hundred and of the to apply the recognised rules of actuarial mathematics.(4) A pension provision shall not exceed the difference between the partial value of the pension obligation at the end of the pension scheme at the end of the 31 December period. It will be increased in December 1990 for the first year and the beginning of the marketing year. If, at the end of the first year, the cash value of the future pension benefits is increased by more than 25 per cent from the beginning of this marketing year, the increase in the pension provision for the first year may be increased to this marketing year. and shall be distributed evenly over the following two marketing years. If the formation of a pension provision is to commence at the end of the first year, the provision may be made up to the level of the partial value of the pension obligation at the end of this marketing year. This provision may be evenly distributed over the first year and the following two marketing years. If the employment relationship of the pensionable person ends with the maintenance of his or her pension rights in the first year or if the pension is in effect in that marketing year, the pension provision shall always be allowed up to the level of the partial value of the pension Pension obligation shall be formed. The increase in the pension provision allowed for this marketing year may be spread evenly over the first year and the following two marketing years.(5) Paragraphs 3 and 4 shall apply accordingly where the person entitled to the pension to the pension is in a different legal relationship as a service. Non-official table of contents

§ 55 deposits

becomes an operation within three years after the 30. June 1990, as a deposit, which is before 1. The amount paid by the taxable person in an opening balance sheet shall be deemed to be 1 July 1990. It would have been possible to start at the cost of production or production. Non-official table of contents

§ 56 Fees

(1) Court fees and notary fees charged on the occasion of the determination of the The opening balance and the redetermination of the capital ratios under this law are the result of fifty per cent of the hundred. If the fee to be calculated in accordance with the first sentence exceeds two thousand Deutsche Mark for the assessment of the decisions of the meeting, the amount exceeding two thousand German marks shall be reduced by another twenty-five from the hundred. If the fees are paid to the notary itself, the fees shall be reduced in accordance with § 144 (1) of the Law on the Costs in Voluntary Jurisdiction (Costing) of the Federal Republic of Germany in the German Federal Law Gazans Part III, outline number 361-1, published as amended, as last amended by Article 5 of the Law of 5. April 1990 (BGBl. 701). (2) The reduction shall also apply to the fees incurred in the case of a conversion of companies, provided that the conversion is not decided later than the redetermination and, after the opening balance, the nominal capital is one hundred thousand. Deutsche Mark does not reach or the transferred equity of the Aktiengesellschaft or the Kommanditgesellschaft on shares one hundred thousand Deutsche Mark or the transferred own capital of the company with limited liability fifty thousand German mark not reached. The reduction does not extend to the fees charged on the occasion of the compensation of a capital recovery account.(3) Where a decision to assess the fees referred to in paragraph 1 is at the same time assessed, registered or registered with other decisions not referred to in paragraph 1, a single fee shall be charged for that decision, shall be reduced only to the partial amount of the total fee which exceeds the fee which would be charged for the transaction not covered by paragraph 1 if it had been accepted separately.(4) The reduction shall not extend to the additional fee for documents held outside the place of jurisdiction and for foreign language declarations; however, the fee for the certification outside the place of jurisdiction may be the amount of the fee for the business itself. not to exceed (discounted) fee.(5) The minimum fee provisions shall remain unaffected.

Section 9
Capital Redetermination Procedure. Other requirements

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§ 56a Simple majority

(1) For the resolution of the Annual General Meeting or the Shareholders ' meeting of capital companies on the redetermination of the subscribed capital and the confiscation of shares shall be sufficient for the simple majority of the subscribed capital represented in the decision-making process to be held without regard to the Number of votes. There is no need for a special decision of the individual genera of shares. This shall apply even if the statutes or the social contract determine otherwise. In the case of an increase in the subscribed capital decided upon at the same time as the redetermination, the provisions governing the capital increase governing the legal form shall apply only if the capital increase does not take place from existing equity capital.(2) A simple majority of the votes cast shall suffice for the decision of the General Assembly of Cooperatives, which shall re-establish the business assets, the shares of the business and the sums of detention, even if the legal provisions are or the Statute, or the Statute. If, at the same time, the redetermination is decided to increase the newly established shares, the provisions of the law relating to the acquisition and business cooperatives are to be applied only if the increase is not made up of Existing equity is carried out. Non-official table of contents

§ 56b Content of the login. Examination by the Court of First Instance

(1) When the decision on the redetermination is notified, the opening balance sheet and the report of the Management Board or the Managing Director shall be the commercial register of the registered office of the capital company. , in the case of cooperatives, this shall apply mutas to the registration to the register of cooperatives. In the course of the application, the Management Board or the Managing Directors shall declare that the decisions concerning the determination of the opening balance and the redetermination are not challenged or that the dispute has been rejected by a final decision.(2) The managing directors of limited liability companies shall attach to a list of members signed by them, from the name, first name, status and place of residence of the shareholders, as well as their parent deposits and those still to be to make payments that are efficient.(3) The register court may also refuse to register the re-establishment if the auditors have failed to confirm the opening balance sheet.(4) Where the opening balance has not been verified, the court may order the examination and appoint an auditor if there is evidence that the statutory provisions have not been complied with in the drawing up of the opening balance sheet; or Unredness has come forward. Prior to the arrangement, the board of directors or the managing directors are to be heard.(5) The Management Board or the Managing Directors also have to register a provisional redetermination according to § 28 for registration in the Commercial Register or the Cooperative Register. The execution of the compensation of the capital recovery account by amortization or other measures shall also be notified for registration. In the notification, it shall be explained in which way the compensation is carried out.(6) The resettlement of capital shall be effected as soon as it is entered in the commercial register or cooperative register of the registered office of the undertaking. Non-official table of contents

§ 56c Reexchange and merger of shares

(1) Shares denominated in Mark of the German Democratic Republic are to be exchanged or stamped in shares that are denominated in Deutsche Mark. If shares have to be merged, then the exchange and the stamping out of § 226 of the German Stock Corporation Act shall apply accordingly.(2) Before the redetermination is entered in the commercial register or in the cooperative register, the new business shares resulting from it may not be formed. If, in the event of a reduction in the number of shares in the company or cooperative, shares are not made available for use on behalf of the parties concerned, the new shares to be formed in place of the previous shares shall be replaced by the new Selling shares for the account of the parties concerned by the company or cooperative by way of public auction. The proceeds shall be paid to the parties after deduction of the costs or, if there is a right to deposit, to be deposited. Non-official table of contents

§ 56d Overindebtedness or loss of half of subscribed capital

(1) The Executive Board or Managing Directors are up to the Decision-making on the resettlement of capital by the institution responsible for this purpose is not obliged, on account of an over-indebtedness resulting from the establishment of the opening balance sheet pursuant to Section 92 (2) sentence 2 of the German Stock Corporation Act, § 64 (1) sentence 2 of the Act concerning the limited liability companies or the second sentence of Article 99 (1) of the Act concerning the acquisition and economic cooperatives, to apply for the opening of the general enforcement proceedings; this shall also apply to unwinders or Liquidators. During this period, the Management Board and the Managing Directors are also subject to the obligation to convene a meeting pursuant to Section 92 (1) of the German Stock Corporation Act or section 49 (3) of the Act concerning companies with limited liability due to a the loss of the subscribed capital resulting from the drawing up of the opening balance sheet.(2) Where a provisional re-establishment is entered in the commercial register, the Management Board or the Managing Directors shall be responsible for the loss of the subscribed capital resulting from the drawing up of the opening balance sheet for the period of time to compensate for the loss of the capital. of the capital recovery account shall be exempted from the obligation to convene a meeting of the members or members.(3) Paragraph 1 shall also apply in the event that, in the case of a capital company whose shares belong to the Treuhandanstalt, over-indebtedness at a later date, but before the decision on the redetermination of the capital or thereafter on the basis of a capital firm Correction according to § 36 occurs. If the Treuhandanstalt initiates the liquidation of a capital company prior to the decision on the capital resettlement, paragraph 1 shall be applied in conjunction with the first sentence until the liquidation is completed. Non-official table of contents

§ 56e Loans to trust companies

(1) § § 32a and 32b of the Act on Companies with Limited Companies Liability shall not be applied to loans under Article 25 (7) of the agreement and to loans granted by the Treuhandanstalt der Gesellschaft (Treuhandanstalt der Gesellschaft) or for which it has appointed or is responsible for securing a guarantee. This shall not apply to loans granted by the Treuhandanstalt to the company after a resettlement of the capital ratios or for which it orders or vouches for a security after that date.(2) Paragraph 1 shall also apply in so far as a legal successor pursuant to Section 23a (3) of the Treuhand Act enters into the rights and obligations of the Treuhandanstalt in respect of the credit. Non-official table of contents

§ 57 Resolution

(1) Limited liability companies, limited liability companies, limited liability companies, which the redetermination of their capital ratios under this law does not apply to 31. They have been duly notified of registration in the Commercial Register in December 1994 and have been closed with the expiry of that day. Is the decision on the re-fixing before 31 December 2009; The Court held that, in December 1994, the contested decision had been contested. The date of December 1994 shall be six months after the date of the judgment of the decision.(2) Public limited liability companies, limited liability companies and limited liability companies whose share capital is less than the minimum amounts allowed under the legal form after the re-establishment and which increases the In addition, nominal capital has been decided upon by the end of the 31. December 1992, when the increase in nominal capital has not been duly notified for registration in the Commercial Register until that date.(3) Public limited liability companies, limited liability companies and limited liability companies, which have exercised the power to form a capital recovery account, shall be at the end of the 31 December period. December 1997, if the implementation of the compensation has not been entered in the Commercial Register by that date.(4) Paragraph 1, first sentence, shall be applied in accordance with the provisions of the acquisitions and economic cooperatives if the necessary amendments to the Staff Regulations do not apply until 31 December 2008. It was duly notified in December 1992 for registration in the Register of Cooperatives. The resolutions of the General Assembly are on the 1. The Staff Regulations of the Cooperative Society shall apply in accordance with the amendments adopted thereafter. Non-official table of contents

§ 58 fiscal year

(1) The companies have to redefine their financial year. By way of derogation from Section 240 (2) sentence 2 of the Commercial Code, the first financial year may comprise up to eighteen months, in the case of financial institutions and insurance undertakings, up to twelve months. The decision on the renewal of the financial year may only take place until the end of the 30 years. It will be held in June 1991. A change in the Articles of Association or the Company Contract shall not be required if the financial year is extended solely on the basis of this provision.(2) Companies which make use of paragraph 1 shall apply to the 31. The Commission shall, in accordance with the provisions of the commercial law applicable to it, set up an annual accounts in December 1990. There is no need for an annex. The annual accounts need not be checked or disclosed.

Section 10
Final Provisions

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§ 59 empowerment

The Federal Ministry of Justice is authorized, in agreement with the Federal Ministry of Finance and the Federal Ministry of Finance, for Economy and technology by means of a legal regulation with the consent of the Federal Council Rules for the implementation of this Act on the form and content of the documents to be set up in accordance with § § 1, 21, 39 and 45, the capital endowment of the companies and on the conduct of the examination, determination and disclosure of such documents and the procedure to be followed in so far as these provisions are necessary in order to ensure the implementation of the changeover in the sense of the Treaty on to ensure the creation of a monetary, economic and social union and the objective of this law. Non-official table of contents

§ 60 Application

This law is effective from 1. However, the provisions of Section 7 shall not be applied to the entire territory of the Federal Republic of Germany in July 1990. March 1991. For the territory referred to in Article 3 of the Agreement, the provisions of Section 7, with the exception of section 48 (1) (4), shall be subject to the provisions of the 29. September 1990.