Pursuant to the Accounting Directive, the Act of 18 December 2015 (hereinafter the "Act") amended the size criteria provided for by Articles 15, 15/1 and 16 of the Company Code. The new criteria are applicable to financial years beginning as from 1 January 2016. A royal decree was also adopted on 18 December amending, amongst other provisions, the Royal Decree of 30 January 2001 implementing the Company Code (hereinafter the "RD"). The Accounting Standards Board is currently preparing a draft opinion on the subject which will be submitted for public consultation.