Commission Regulation (EU) No 550/2010 of 23 June 2010 amending Regulation (EC) No 1126/2008 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 (IFRS) 1 (Text with EEA relevance) (revoked)
EU Regulation No 550/2010 · Adopted 23 June 2010 · Extends to United Kingdom
Commission Regulation (EU) No 550/2010
of 23 June 2010
amending Regulation (EC) No 1126/2008 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 (IFRS) 1
(Text with EEA relevance) (revoked)
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Annotations to the whole text
Textual amendments
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Regulation revoked (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 2 para. 25 (with reg. 20(2)) (as amended by S.I. 2020/335, regs. 1, 5); 2020 c. 1, Sch. 5 para. 1(1)
Contents
- 1Article 1 Repealed
- 2Article 2 Repealed
- 3Article 3 Repealed
- Signature
- Annex: INTERNATIONAL ACCOUNTING STANDARDS Repealed
- Division Repealed
- Amendments to IFRS 1First-time Adoption of International Financial Reporting Standards Repealed
- Division Repealed
- PRESENTATION AND DISCLOSURE Repealed
- Explanation of transition to IFRSs Repealed
- Use of deemed cost for oil and gas assets Repealed
- 31ADivision 31A Repealed
- EFFECTIVE DATE Repealed
- 39ADivision 39A Repealed
- EXEMPTIONS FROM OTHER IFRSS Repealed
- Division Repealed
- D1An entity may elect to use one or more of the following exemptions: Repealed
- Deemed cost Repealed
- D8AUnder some national accounting requirements exploration and development costs for oil and gas properties in the development or production phases are accounted for in cost centres that include all properties in a large geographical area. A first-time adopter using such accounting under previous GAAP may elect to measure oil and gas assets at the date of transition to IFRSs on the following basis: Repealed
- Leases Repealed
- D9ADivision D9A Repealed
- Decommissioning liabilities included in the cost of property, plant and equipment Repealed
- D21AAn entity that uses the exemption in paragraph D8A(b) (for oil and gas assets in the development or production phases accounted for in cost centres that include all properties in a large geographical area under previous GAAP) shall, instead of applying paragraph D21 or IFRIC 1: Repealed
1F1
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2F1
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3F1
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Signature
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Amendments to IFRS 1First-time Adoption of International Financial Reporting StandardsF1
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PRESENTATION AND DISCLOSUREF1
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Explanation of transition to IFRSsF1
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Use of deemed cost for oil and gas assetsF1
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31AF1
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EFFECTIVE DATEF1
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39AF1
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EXEMPTIONS FROM OTHER IFRSSF1
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D1An entity may elect to use one or more of the following exemptions:F1
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Deemed costF1
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D8AUnder some national accounting requirements exploration and development costs for oil and gas properties in the development or production phases are accounted for in cost centres that include all properties in a large geographical area. A first-time adopter using such accounting under previous GAAP may elect to measure oil and gas assets at the date of transition to IFRSs on the following basis:F1
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LeasesF1
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D9AF1
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Decommissioning liabilities included in the cost of property, plant and equipmentF1
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D21AAn entity that uses the exemption in paragraph D8A(b) (for oil and gas assets in the development or production phases accounted for in cost centres that include all properties in a large geographical area under previous GAAP) shall, instead of applying paragraph D21 or IFRIC 1:F1
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