Transitional rule on the CSR Directive Implementation Act

Section 38, in the version of the CSR Directive Implementation Act of 11 April 2017 (Federal Law Gazette I p. 802), is to be applied for the first time to management reports and consolidated management reports relating to a business year beginning after 31 December 2016. To management and consolidated management reports relating to business years beginning before 1 January 2017, section 38 in the version in force until 18 April 2017 remains applicable.