Article 1

F1From IP completion day, with regard to annual consolidated financial statements and half-yearly consolidated financial statements, the following standards are to be considered as equivalent to UK-adopted international accounting standards:

1. (a)

   International Financial Reporting Standards, provided that the notes to the audited financial statements contain an explicit and unreserved statement that these financial statements comply with international financial reporting standards in accordance with IAS 1 Presentation of financial statements;

2. (b)

   Generally Accepted Accounting Principles of Japan;

3. (c)

   Generally Accepted Accounting Principles of the United States of America;

4. (d)

   F2International Financial Reporting Standards adopted pursuant to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of International Accounting Standards, as it applies in the European Union.

F3F4From IP completion day, with regard to annual consolidated financial statements and half-yearly consolidated financial statements, the following standards are to be considered as equivalent to UK-adopted international accounting standards:

1. (a)

   Generally Accepted Accounting Principles of the People’s Republic of China;

2. (b)

   Generally Accepted Accounting Principles of Canada;

3. (c)

   Generally Accepted Accounting Principles of the Republic of Korea.

F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F6In this Decision “third country” means a country outside the United Kingdom.