Member States shall lay down the rules on penalties applicable to infringements of the national provisions adopted pursuant to this Directive and shall take all the measures necessary to ensure that they are implemented. The penalties provided for must be effective, proportionate and dissuasive.
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New version applies from 19/07/2013 — introduced by Directive 2013/34/EU (IFRS).
64 provisions change.
Article 48 is deleted from 19/07/2013.