Final Provision Three of Royal Decree Law 3/2013 extends further the exceptional regime for calculating losses in circumstances of compulsory capital reduction by a public limited company (SA) and compulsory wind-up of a public or private limited company (SA or SL) provided for in Royal Decree Law 10/2008.

Under this exceptional and transitional regime established under the Sole Additional Provision of Royal Decree Law 10/2008, to determine losses relating to a compulsory capital reduction by a public limited company (section 327 Spanish Companies Act) or compulsory wind-up of a public or private limited company (section 363.1.e Spanish Companies Act), losses due to impairment of tangible fixed assets, real estate investments and inventories are not counted.1

Final Provision Three of Royal Decree Law 3/2013 amends the regulation, extending the exceptional regime further to cover corporate years that close in 2013. The Statement of Motives of Royal Decree Law 3/2013 states that this is expected to be the last extension of the exceptional regime.