# Commission Regulation (EC) No 1569/2007 of 21 December 2007 establishing a mechanism for the determination of equivalence of accounting standards applied by third country issuers of securities pursuant to Directives 2003/71/EC and 2004/109/EC of the European Parliament and of the Council, Article 3: Equivalence mechanism

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

The decision on the determination of the equivalence of the Generally Accepted Accounting Principles of a third country may be taken on the initiative of the Treasury, upon application submitted by the Financial Conduct Authority or upon application of an authority responsible for accounting standards or market supervision of a third country.
Before making a determination of equivalence, the Treasury must consult the Secretary of State.
A determination of equivalence is to be made by the Treasury by regulations made by statutory instrument.

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Source: https://www.legislation.gov.uk/eur/2007/1569/article/3 (the official version)
Page: https://openlegislation.uk/eu-regulation-2007-1569/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.