Article 3
The notion of material change
A material change referred to in Article 13(2) of Regulation (EU) 2019/2033 shall be considered to have occurred where either of the following conditions are met:
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(a) |
a change, either in the form of an increase or in the form of a decrease, in the business activity of the firm results in a change of 30 % or greater in the firm’s projected fixed overheads of the current year; |
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(b) |
a change, either in the form of an increase or in the form of a decrease, in the business activity of the firm results in changes in the firm’s own funds requirements based on projected fixed overheads of the current year equal to or greater than EUR 2 000 000. |