Check your profit transfer agreements – A dynamic reference is now required
Dynamic in this sense means that it has been agreed that the reference is to the provisions as amended in Section 302 AktG. According to a Federal Ministry of Finance circular from 24.3.2021, profit and loss transfer agreements that were concluded or last changed before 27.2.2013 that still contain a static reference will have to be amended, at the latest, by the end of 31.12.2021. Moreover, such an amendment to a profit and loss transfer agreement will not be deemed to be the conclusion of a new contract and that is why a new five-year minimum term would not begin again.