Act of 16 September 1993, laying down provisions for the annual accounts of insurance companies
We Beatrix, at the grace of God, Queen of the Netherlands, Princess of Orange-Nassau, etc. etc. etc.
All of them, who will see or hear these, saluut! do know:
In this regard, we considered that the law should be aligned with the Council Directive of 19 December 1991 on the annual accounts and consolidated accounts of insurance undertakings ( PbEG No L 374, 31 December 1991);
In this way, we, the Council of State, and with the mean consultations of the States-General, have been well-regarded and understood to be right and to be understood by the following:
1 This Act shall enter into force from the day following the date of State Sheet where it is placed.
2 The rules laid down in this Act need not apply in respect of financial years beginning on 1 January 1995. To the extent that the rules laid down in this Act relating to such a financial year are applied, it must be mentioned in the notes on the accounts. However, the second part of Article 363 (5) of the Civil Code does not need to be applied in the first financial year to which the rules contained in this Act are used.
3 If the procurement or manufacturing price of the investments valued on the basis of the current value, to be entered in the notes on the accounts, prior to the financial year in which the provisions of this Act are applied, only the application of Article 442 (3) may, for the purposes of Article 442 (3), be determined to apply to the application of Article 442 (3) A The value of the value from this financial year must be reported in lieu of the production price or production price; the statement shall indicate the value of the production.
Burdens and orders that are in the State Sheet will be placed, and that all ministries, authorities, colleges and officials who so concern will keep their hands on the precise execution.
Given in Gravenhage, 16 September 1993
The Secretary of State for Justice,
The Minister of Finance,
W. KokIssued on the fourteenth October 1993
The Minister of Justice,
E. M. H. Hirsch Ballin