# Commission Regulation (EC) No 1864/2005 of 15 November 2005 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council, as regards International Financial Reporting Standard No 1 and International Accounting Standards Nos. 32 and 39 (Text with EEA relevance), Division 105

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

When this Standard is first applied, an entity is permitted to designate a previously recognised financial asset as available for sale. For any such financial asset the entity shall recognise all cumulative changes in fair value in a separate component of equity until subsequent derecognition or impairment, when the entity shall transfer that cumulative gain or loss to profit or loss. The entity shall also:
(a) restate the financial asset using the new designation in the comparative financial statements; and
(b) disclose the fair value of the financial assets at the date of designation and their classification and carrying amount in the previous financial statements.

---
Source: https://www.legislation.gov.uk/eur/2005/1864/annex/division/B/division/AMENDMENTS/division/4/division/105 (the official version)
Page: https://openlegislation.uk/eu-regulation-2005-1864/annex/division-B/division-AMENDMENTS/division-4/division-105
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.