OpenLegislation

Article 1

United Kingdom

Original text. Later amendments are not shown.

Annex to regulation (EC) No 1725/2003 is amended as follows:

  1. 1..

    The text of the Amendments to International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement — Transition and Initial Recognition of Financial Assets and Financial Liabilities is inserted as set out in the Annex to this Regulation.

  2. 2..

    The text of the IFRIC Amendment to SIC 12 Scope of SIC 12; Consolidation — Special Purpose Entities is inserted as set out in the Annex to this Regulation.

  3. 3..

    The adoption of the amendments to IAS 39 implies, by way of consequence, amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards in order to ensure consistency between international accounting standards.