The notion of material change
Article 3
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: (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; (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.