Structural separation and separate accounting

(1) Undertakings that operate public telecommunications networks or provide publicly available telecommunications services and that hold special or exclusive rights within the European Union for the provision of services in other sectors are required 1. to structurally separate the activities connected with the provision of public telecommunications networks and the provision of publicly available telecommunications services, or 2. to keep separate accounts for the activities connected with the provision of public telecommunications networks or the provision of publicly available telecommunications services, to the extent that would be required if they were carried out by legally independent undertakings.
(2) In the case of subsection (1), point 2, the undertaking must, for the activities referred to there, draw up a balance sheet and profit and loss account (activity statement) in accordance with the provisions applicable to corporations under the First Subdivision of the Second Division of Book Three of the Commercial Code; section 264(3) and section 264b of the Commercial Code do not apply correspondingly in this regard. The activity statement must state the rules, including the bases of calculation, according to which assets and liabilities, and expenses and income, have been allocated to the activities. Fixed assets must be broken down in detail. The costs attributable to the structure must be stated. The activity statement is to be audited by an auditor in accordance with the Third Subdivision of the Second Division of Book Three of the Commercial Code. The undertaking must disclose the activity statement, together with the auditor's certificate or report of refusal, in accordance with the Fourth Subdivision of the Second Division of Book Three of the Commercial Code.
(3) The obligations under subsections (1) and (2) do not apply to undertakings whose revenue from the provision of public telecommunications networks or the provision of publicly available telecommunications services in the European Union was less than EUR 50,000,000 in the twelve months preceding the balance sheet date.