# 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), Article 1

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

1. International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement, with the exception of certain of its provisions on the use of the fair value option and certain of its provisions relating to hedge accounting, is inserted in the Annex to Regulation (EC) No 1725/2003.
The text for insertion, as referred to in the first subparagraph, is set out in the Annex to this Regulation.
2. Companies shall be regarded as ‘first time adopters’ in accordance with paragraph 1. References in IFRS 1 to IAS/IFRS shall be construed as references to IAS/IFRS as adopted by the Commission on the basis of Regulation (EC) No 1606/2002.
3. IAS 12, 18, 19, 30, 36 and 37 and SIC-27 as well as International Financial Reporting Standard No 1 are amended in accordance with Appendix B of IAS 39, as set out in the Annex to this Regulation.

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Source: https://www.legislation.gov.uk/eur/2004/2086/article/1 (the official version)
Page: https://openlegislation.uk/eu-regulation-2004-2086/article-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.