Regulation On Liberating Consolidated Financial Statements And Group Management Report Of Parent Company Established In A Third Country

Original Language Title: Verordnung über befreiende Konzernabschlüsse und Konzernlageberichte von Mutterunternehmen mit Sitz in einem Drittstaat

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Regulation on liberating consolidated financial statements and group management reports of parent companies based in a third country (Consolidated Financial Statements-KonBefrV)

Non-official Table of Contents

ConBefrV

Date of expiry: 15.11.1991

Full quote:

" Consolidated Financial Statements of the 15. November 1991 (BGBl. 2122), as last amended by Article 8 (6) of the Law of 17. July 2015 (BGBl. I p. 1245) "

:Last modified by Art. 8 (6) G v. 17.7.2015 I 1245
The V is in accordance with. § 4 para. 1 sentence 2 idF d. Art. 1 No. 1 V v. 9.6.1993 I 916 with the expiry of 31.12.1996.
The validity of the V is defined by § 4 para. 1 idF d. Art. 1 (3) (a) (v) v. 28.10.1996 I 1862 extended beyond 31.12.1996.
V deg. by Art. 9 sentence 2 G v. 17.7.2015 I 1245 mWv 1.1.2019

For details, see the menu under Notes

Footnote

(+ + + Text evidence: 30.11.1991 + + +)
(+ + +) For the last application, see § 4 + + +)
(+ + + Official note of the norm provider on EC law:
Implementation of the
EWGRL 349/83 (CELEX Nr: 383L0349)
Implementation of the
EGRL 43/2006 (CELEX Nr: 306L0043) cf. G v. 25 5.2009 I 1102 + + +)

Heading: IdF d. Art. 8 (4) No. 1 G v. 4.12.2004 I 3166 mWv 10.12.2004 unofficial table of contents

input formula

On the basis of section 292 of the German Commercial Code (Handelsgesetzbuch) in the German Federal Law Gazans Part III, outline number 4100-1, published on the basis of Article 1 (8) of the Law of 19. December 1985 (BGBl. 2355), the Federal Minister of Justice, in agreement with the Federal Minister of Finance and the Federal Minister for Economic Affairs, and taking into account the special rights of the German Bundestag pursuant to paragraph 4, shall be inserted: Non-official table of contents

§ 1

A parent company that is also a subsidiary of a parent company based in a state that is a parent company is not a member of the European Union or of any other Contracting State of the Agreement on the European Economic Area, does not need to draw up a consolidated financial statements and a group management report if it meets the requirements of § 2 The consolidated financial statements and the group management report of its parent company, including the confirmation notice or the endorsement of the latter's failure to comply with the relevant provisions for the cancelled consolidated financial statements and the group management report in German language. If securities are admitted to trading on the regulated market in the meaning of Section 2 (1) sentence 1 of the parent company's securities trading act on a domestic exchange, a certificate issued by the Chamber of Auditors pursuant to Section 134 (2a) of the German Securities Trading Act (Wirtschaftsprüferkammer) is also issued. An auditor's order for the registration of the auditor or a confirmation of the auditor's chamber in accordance with § 134 (4) sentence 8 of the auditor's order on the exemption from the registration obligation to be disclosed. Sentence 2 shall not apply to the extent that only debt instruments within the meaning of Section 2 (1), first sentence, point 1 of the Securities Trading Act, with a minimum denomination of EUR 50 000 or a corresponding amount of other currency on a domestic stock exchange, are to be applied. Trade in the regulated market is authorised. A liberating consolidated financial statements and a liberating group management report may be drawn up by any company, irrespective of its legal form and size, if the company is a capital company established in a Member State of the The European Union or any other State Party to the Agreement on the European Economic Area would be obliged to draw up consolidated financial statements, including the parent undertaking to be exempted and its subsidiaries. Non-official table of contents

§ 2

(1) The consolidated financial statements and group management report of a parent company based in a state that is not a member the European Union or any other Contracting State of the Agreement on the European Economic Area, shall have a liberating effect if
1.
the parent company to be liberated and its subsidiaries in the liberating consolidated financial statements have been included without prejudice to Section 296 of the German Commercial Code ,
2.
the liberating consolidated financial statements and the liberating group management report in accordance with Council Directive 83 /349/EEC of 13 December 1994. June 1983 on consolidated accounts (OJ L 327, 31.12.1983, p EC No 1), as amended by the law of a Member State of the European Union or of another State Party to the Agreement on the European Economic Area, or to a Member State of the European Union, or to a Member State of the European Union, under the law of the Member State the consolidated financial statements and the group management report are equivalent,
3.
the liberating consolidated financial statements of one of them in accordance with the provisions of the Directive 2006 /43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts (OJ C 139, 14.6.2006, p. EU No 87), the statutory auditor has been approved in the current version, or the auditor has at least one qualification equivalent to the requirements of this Directive, and the consolidated financial statements in one of the following The requirements of the Commercial Code have been verified and
4.
the Annex to the annual accounts of the company to be exempted contains:
a)
The name and location of the parent company, which is the liberating consolidated financial statements ,
b)
a reference to the exemption from the obligation to draw up a consolidated financial statements and a group management report, and
c)
an explanation of the balancing, valuation and consolidation methods used in the liberating consolidated financial statements of German law
in Compliance with the statutory auditors of parent companies whose securities are admitted to trading on the regulated market in the meaning of Section 2 (1), first sentence, of the Securities Trading Act on a domestic exchange on a domestic exchange , only if they are registered with the Wirtschaftsprüferkammer pursuant to § 134 (1) of the Public Accountant Act or the equivalence pursuant to Section 134 (4) of the Code of Public Accountant's requirements shall be equivalent to those laid down by the Directive. of the Rules of the Auditor. Sentence 2 shall not apply to the extent that only debt securities in the meaning of Section 2 (1), first sentence, point 1 of the Securities Trading Act, with a minimum denomination of EUR 50 000 or a corresponding amount of other currency on a domestic stock exchange, shall not be applied. Trade in the regulated market is authorised. The rates 1 to 3 shall apply to credit institutions and insurance undertakings; without prejudice to the other conditions set out in the first and third sentences, the drawing up of the liberating consolidated financial statements and of the liberating group management report shall apply to: Credit institutions in accordance with Council Directive 86 /635/EEC of 8 June 1999. December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions (OJ L 327, 28.12.1986, p. EC No 1) and, in the case of insurance undertakings, in accordance with Council Directive 91 /674/EEC of 19 June 1991. 1 December 1991 on the annual accounts and consolidated annual accounts of insurance undertakings (OJ L 327, 31.12.1991, p. EC No 7) should be carried out in their respective versions.(2) § 291 (3) of the Commercial Code shall apply accordingly. Non-official table of contents

§ 3

In the cases of § 2 no. 2, the law of another Member State of the European Union or of any other Member State may be The Contracting State of the Agreement on the European Economic Area shall, however, only be based on a liberating consolidated financial statements and a liberating group management report, or shall be used for the determination of equivalence if such Documents in the other Member State or State Party shall be disclosed in lieu of a consolidated financial statements and the group management report as prescribed by the law of that Member State or State Party. The liberating consolidated financial statements shall be accompanied by a confirmation of the deposit in the other Member State. Non-official table of contents

§ 4

This regulation is to be applied to consolidated financial statements for financial years prior to the first day of the year. January 2016.

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