# Commission Regulation (EC) No 2086/2004 of 19 November 2004 amending Regulation (EC) No 1725/2003 on the adoption of certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards the insertion of IAS 39 (Text with EEA relevance), Division: Amendments to IAS 37

Extent: E+W+S+N.I.

B8. IAS 37 Provisions, Contingent Liabilities and Contingent Assets is amended as described below.
Paragraphs 1 and 2 are amended to read as follows:
1.. This Standard shall be applied by all entities in accounting for provisions, contingent liabilities and contingent assets, except:
(a) those resulting from executory contracts, except where the contract is onerous;
(b) those arising in insurance entities from contracts with policyholders;
and
(c) those covered by another Standard.
2.. This Standard does not apply to financial instruments (including guarantees) that are within the scope of IAS 39 Financial Instruments: Recognition and Measurement. For financial guarantees excluded from the scope of IAS 39, this Standard applies as set out in paragraph 2(f) of IAS 39.

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Source: https://www.legislation.gov.uk/eur/2004/2086/annex/4/division/9 (the official version)
Page: https://openlegislation.uk/eu-regulation-2004-2086/annex-4/division-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.