Transitional provisions on the Accounting Directive Implementation Act

Sections 45 and 48, in the version of the Accounting Directive Implementation Act of 17 July 2015 (Federal Law Gazette I, p. 1245), apply for the first time to annual reports and annual financial statements for financial years beginning after 31 December 2015. The same applies to section 160, in the version of the Accounting Directive Implementation Act, as regards the reference to section 325(1) of the Commercial Code.