Title 9

This Title applies to the cooperative (coöperatie), the mutual insurance society (onderlinge waarborgmaatschappij), the public limited company…

Annual accounts shall be understood to mean: the individual annual accounts consisting of the balance sheet and the profit and loss account with the…

The annual accounts shall provide, in accordance with standards regarded as acceptable in society, such insight as to enable a responsible judgment…

The aggregation, the disaggregation and the classification of the data in the annual accounts and the notes to those data shall be directed towards…

In the balance sheet, the assets shall be distinguished into fixed assets and current assets, depending on whether or not they are intended to serve…

Intangible fixed assets shall be separately included:

The following shall be separately included under tangible fixed assets:

The following shall be separately included under financial fixed assets:

The movements of each of the items belonging to the fixed assets during the financial year shall be presented in a reconciling statement. This…

Under the stocks belonging to the current assets, the following shall be separately included:

Under the receivables belonging to the current assets, the following shall be stated separately:

If shares and other forms of interests in companies not included in the consolidation as referred to in Article 361, paragraph 4, belong to the…

Cash and cash equivalents shall include cash on hand, balances in bank and giro accounts, as well as bills of exchange and cheques.

The following items shall be separately included under equity:

Provisions shall be recognized on the balance sheet against obligations which are clearly defined by their nature and which are considered probable…

The following shall be separately included under the debts:

If the legal person has accepted liability for the debts of others or if it remains at risk for discounted bills of exchange or cheques, the…

The following items shall be separately included in the profit and loss account:

The movements in equity during the financial year shall be presented in a statement. This statement shall show:

The legal person shall state the name, domicile and the provided share in the issued capital of each company:

If the organisation of the legal person's business is geared towards activities in different branches of industry, insight shall be provided by means…

Events after the balance sheet date not included in the balance sheet or the profit and loss account that have significant financial consequences for…

To be communicated:

The legal person shall state the appropriation of the profit or the treatment of the loss, or, as long as this has not been determined, the proposal…

The legal person shall provide a statement of the number of profit-sharing certificates (winstbewijzen) and similar rights, specifying the powers…

Disclosure shall be made of the significant financial commitments, not included in the balance sheet, to which the legal person is bound for a number…

If financial instruments are measured at fair value, the legal person shall state:

If financial instruments are not valued at current value, the legal person shall state:

The average number of employees employed by the legal person during the financial year shall be disclosed, categorized in a manner consistent with…

The total fees charged to the legal person during the financial year for the audit of the annual accounts, the total fees for other audit…

The amount of the remunerations, including pension charges, and of the other benefits for the joint directors and former directors and, separately…

The foundations and associations referred to in Article 360, paragraph 3, shall state both the provisions in the articles of association concerning…

In deviation from Article 383, Articles 383c up to and including 383e apply to the public limited company (naamloze vennootschap), with the exception…

The company shall disclose the amount of the remuneration for each director. This amount shall be broken down into

The company that grants rights to directors or employees to subscribe for or acquire shares in the capital of the company or a subsidiary shall, for…

The company shall state the amount of loans, advances and guarantees granted for the benefit of each director and each supervisory director of the…

In choosing a basis for the valuation of an asset and of a liability and for the determination of the result, the legal person shall be guided by the…

Assets and liabilities shall be valued separately to the extent that they differ in their significance for the insight referred to in Article 362…

Depreciation shall be made independently of the result of the financial year.

Impairments of assets shall be taken into account regardless of the result for the financial year.

The acquisition price at which an asset is valued comprises the purchase price and the incidental costs.

Participations in companies in which the legal person exercises significant influence over the business and financial policy shall be accounted for…

Increases in the value of tangible fixed assets, intangible fixed assets and inventories that are not agricultural inventories shall be included in a…

The management report shall provide a true and fair view of the state of affairs on the balance sheet date, the development during the financial year…

Further regulations regarding the content of the management report may be established by administrative order.

The board shall add the following data to the annual accounts and the board report:

The legal person shall grant an instruction to audit the annual accounts to a chartered accountant (registeraccountant), to an accounting consultant…

The legal person is obliged to make the annual accounts public within eight days after their adoption. Publication shall be effected by filing the…

If the annual accounts are made public in a manner other than pursuant to the preceding article, the auditor's statement referred to in Article 393…

Paragraphs 3 to 6 apply to a legal person which on two consecutive balance sheet dates, without subsequently failing to do so on two consecutive…

Without prejudice to Article 395a, paragraphs 3 to 9 inclusive shall apply to a legal person which on two consecutive balance sheet dates, without…

Subject to Article 396, paragraphs 3 to 7 inclusive shall apply to a legal person which on two consecutive balance sheet dates, without interruption…

Article 395a, Article 396 or Article 397 shall also apply for the first and second financial years to a legal person which, on the balance sheet date…

Our Minister of Finance may, at his or her petition (application), allow financial institutions that are not a bank as referred to in Article 415…

A manager of an investment institution, a manager of a UCITS (icbe), an investment company and a company for collective investment in transferable…

If the financial data of a legal person are incorporated into its consolidated annual accounts, only the result from participating interests after…

A legal person belonging to a group is not required to prepare the annual accounts in accordance with the provisions of this Title, provided that:

A notice of liability as referred to in Article 403 may be withdrawn by the filing of a statement to that effect with the commercial register.

Consolidated financial statements are the financial statements in which the assets, liabilities, income and expenses of the legal entities and…

The legal person which, alone or together with another group company, stands at the head of its group, shall prepare consolidated annual accounts…

The obligation to consolidate shall not apply to data:

Consolidation of a group element may be omitted, provided that:

The financial data of a legal person or partnership may be included in the consolidated annual accounts in proportion to the interest held therein…

The provisions of this title regarding the annual accounts and components thereof, with the exception of Articles 365 paragraph 2, 378, 379, 382a…

In the consolidated financial statements, the equity does not need to be broken down.

The balance sheet date for the consolidated financial statements is the same as for the financial statements of the legal person itself.

If the data of a company are included in the consolidation for the first time and a difference in value arises in comparison to the preceding…

The legal person shall state, broken down into the following categories, the name and domicile of legal persons and partnerships:

In this section, bank means: a financial enterprise with its registered office in the Netherlands that holds a licence to conduct the business of a…

Insofar as not otherwise provided in this Section, Sections 1, 2, 5 up to and including 10 and 13 of this Title shall apply to banks, as well as…

By order in council, for the implementation of directives of the Council of the European Communities concerning the annual accounts and the…

The classification, the designation and the description of the items of the balance sheet and the profit and loss account may contain deviations for…

Impairments of securities and participations belonging to the fixed assets may be offset in the profit and loss account against reversals of…

Article 368 applies to the items belonging to the fixed assets; offset amounts as referred to in Article 420 paragraph 1 may be aggregated with other…

Securities with a fixed interest rate or an interest rate dependent on the market rate of interest which belong to the fixed assets shall be valued…

Fixed assets in foreign currency that are not covered by cash or forward transactions shall be recorded at the exchange rate prevailing on the…

A bank may include on the balance sheet under the liabilities, immediately following the provisions, an item comprising the fund for general banking…

A bank to which an exemption applies as referred to in Article 3:111, paragraph 1, of the Financial Supervision Act (Wet op het financieel toezicht)…

Companies that are not banks and that are included in the consolidated annual accounts of a bank shall be accounted for in accordance with the…

In this section, insurance company means: a financial enterprise with its seat in the Netherlands which, pursuant to the Financial Supervision Act…

Insofar as not otherwise provided in this Section, Sections 1, 2, 5 to 10 inclusive and 13 of this Title shall apply to insurance companies, as well…

The following shall be separately included under the assets:

Under the investments, the following shall be separately included:

Article 368, paragraph 1, shall not apply to the other financial investments referred to in Article 430, paragraph 1, under (c).

The following claims shall be included separately:

Under the other assets, the following shall be separately included:

Under the accrued and prepaid assets (overlopende activa), the following shall be separately included:

Under the technical provisions, the following shall be included separately:

The debts shall be recorded separately:

In this section, the profit and loss account shall be understood to mean: a technical account for non-life insurance, a technical account for life…

The following items shall be recorded separately in the technical accounts, after deduction of reinsurance benefits and charges:

In the technical and non-technical accounts, the following items shall, to the extent that they appear therein, be broken down in accordance with the…

The following shall be separately stated under operating expenses:

Following the profit and loss account, a statement of the composition of the total result shall be included. The total result is equal to the…

Article 380 shall not apply.

Only the market value in accordance with the rules established by administrative order (algemene maatregel van bestuur) shall be eligible as the…

Fixed-interest securities or securities with an interest rate dependent on the interest rate level which form part of the investments shall be valued…

Technical provisions shall be valued on bases acceptable within the industry. In the valuation of technical provisions, it shall be assumed that the…

The provision for unearned premiums and unexpired risks to be maintained by an insurance company, including the catastrophe provision if such has…

The life insurance provision to be maintained by an insurance company shall be calculated on the basis of a sufficiently prudent prospective…

The provision to be maintained by an insurance company for claims to be paid or benefits to be paid shall comprise the amount of the expected claims…

The provision for profit-sharing and rebates of an insurance company comprises the amounts intended for profit-sharing for policyholders, insured…

Companies that are not insurance companies and that are included in the consolidated annual accounts of an insurance company shall be accounted for…

Profits and losses arising from agreements between companies included in the consolidation need not be eliminated if the agreements were entered into…

At the petition of those who are authorised to do so pursuant to Article 448, the Enterprise Chamber of the Amsterdam Court of Appeal may order a…

The following persons are entitled to file the petition referred to in Article 447:

The petition (application) referred to in Article 447 shall be submitted within two months after the date on which the annual accounts have been…

The Enterprise Chamber (ondernemingskamer) shall handle the petition referred to in Article 447 with the utmost urgency. The case shall be heard in…

If the Enterprise Chamber (ondernemingskamer) grants the petition referred to in Article 447, it shall issue an order to the legal person…

At the petition of the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten), the Enterprise Chamber of the…

The registrar of the Enterprise Chamber shall deposit a copy of the order of the Enterprise Chamber at the office of the trade register. If the order…

At the request of the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten), the Enterprise Chamber of the…

If the Enterprise Chamber (ondernemingskamer) grants the petition referred to in Article 454, it shall issue an order to the securities-issuing…