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Commission Regulation (EU) No 1174/2013 of 20 November 2013 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 Standards 10 and 12 and International Accounting Standard 27 (Text with EEA relevance) (revoked)

EU Regulation No 1174/2013 · Adopted 20 November 2013 · Extends to United Kingdom

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Commission Regulation (EU) No 1174/2013

of 20 November 2013

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 Standards 10 and 12 and International Accounting Standard 27

(Text with EEA relevance) (revoked)

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Annotations to the whole text

Textual amendments

F1

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. 39 (with reg. 20(2)) (as amended by S.I. 2020/335, regs. 1, 5); 2020 c. 1, Sch. 5 para. 1(1)

Contents

  1. 1Article 1 Repealed
  2. 2Article 2 Repealed
  3. 3Article 3 Repealed
  4. Signature
  5. Annex: INTERNATIONAL ACCOUNTING STANDARDS Repealed
  6. Division Repealed
  7. Investment Entities(Amendments to IFRS 10, IFRS 12 and IAS 27) Repealed
  8. Amendments to IFRS 10 Consolidated Financial Statements Repealed
  9. 2To meet the objective in paragraph 1, this IFRS: Repealed
  10. 3Division 3 Repealed
  11. 4An entity that is a parent shall present consolidated financial statements. This IFRS applies to all entities, except as follows: Repealed
  12. DETERMINING WHETHER AN ENTITY IS AN INVESTMENT ENTITY Repealed
  13. 27A parent shall determine whether it is an investment entity. An investment entity is an entity that: Repealed
  14. 28In assessing whether it meets the definition described in paragraph 27, an entity shall consider whether it has the following typical characteristics of an investment entity: Repealed
  15. 29Division 29 Repealed
  16. 30Division 30 Repealed
  17. INVESTMENT ENTITIES: EXCEPTION TO CONSOLIDATION Repealed
  18. 31Division 31 Repealed
  19. 32Division 32 Repealed
  20. 33Division 33 Repealed
  21. DETERMINING WHETHER AN ENTITY IS AN INVESTMENT ENTITY Repealed
  22. B85ADivision B85A Repealed
  23. Business purpose Repealed
  24. B85BDivision B85B Repealed
  25. B85CDivision B85C Repealed
  26. B85DAn investment entity may also participate in the following investment-related activities, either directly or through a subsidiary, if these activities are undertaken to maximise the investment return (capital appreciation or investment income) from its investees and do not represent a separate substantial business activity or a separate substantial source of income to the investment entity: Repealed
  27. B85EDivision B85E Repealed
  28. Exit strategies Repealed
  29. B85FDivision B85F Repealed
  30. B85GDivision B85G Repealed
  31. B85HDivision B85H Repealed
  32. Earnings from investments Repealed
  33. B85IAn entity is not investing solely for capital appreciation, investment income, or both, if the entity or another member of the group containing the entity (ie the group that is controlled by the investment entity’s ultimate parent) obtains, or has the objective of obtaining, other benefits from the entity’s investments that are not available to other parties that are not related to the investee. Such benefits include: Repealed
  34. B85JDivision B85J Repealed
  35. Fair value measurement Repealed
  36. B85KAn essential element of the definition of an investment entity is that it measures and evaluates the performance of substantially all of its investments on a fair value basis, because using fair value results in more relevant information than, for example, consolidating its subsidiaries or using the equity method for its interests in associates or joint ventures. In order to demonstrate that it meets this element of the definition, an investment entity: Repealed
  37. B85LIn order to meet the requirement in B85K(a), an investment entity would: Repealed
  38. B85MDivision B85M Repealed
  39. Typical characteristics of an investment entity Repealed
  40. B85NDivision B85N Repealed
  41. More than one investment Repealed
  42. B85ODivision B85O Repealed
  43. B85PThere may be times when the entity holds a single investment. However, holding a single investment does not necessarily prevent an entity from meeting the definition of an investment entity. For example, an investment entity may hold only a single investment when the entity: Repealed
  44. More than one investor Repealed
  45. B85QDivision B85Q Repealed
  46. B85RDivision B85R Repealed
  47. B85SThere may also be times when the entity temporarily has a single investor. For example, an investment entity may have only a single investor when the entity: Repealed
  48. Unrelated investors Repealed
  49. B85TDivision B85T Repealed
  50. B85UDivision B85U Repealed
  51. Ownership interests Repealed
  52. B85VDivision B85V Repealed
  53. B85WDivision B85W Repealed
  54. ACCOUNTING FOR A CHANGE IN INVESTMENT ENTITY STATUS Repealed
  55. B100Division B100 Repealed
  56. B101Division B101 Repealed
  57. C1BDivision C1B Repealed
  58. C2ADivision C2A Repealed
  59. C3ADivision C3A Repealed
  60. C3BExcept for any subsidiary that is consolidated in accordance with paragraph 32 (to which paragraphs C3 and C6 or paragraphs C4–C4C, whichever is relevant, apply), an investment entity shall measure its investment in each subsidiary at fair value through profit or loss as if the requirements of this IFRS had always been effective. The investment entity shall retrospectively adjust both the annual period that immediately precedes the date of initial application and equity at the beginning of the immediately preceding period for any difference between: Repealed
  61. C3CDivision C3C Repealed
  62. C3DDivision C3D Repealed
  63. C3EDivision C3E Repealed
  64. C3FDivision C3F Repealed
  65. C6ADivision C6A Repealed
  66. AppendixConsequential amendments to other Standards Repealed
  67. IFRS 1 First-time Adoption of International Financial Reporting Standards Repealed
  68. 39TDivision 39T Repealed
  69. D16If a subsidiary becomes a first-time adopter later than its parent, the subsidiary shall, in its financial statements, measure its assets and liabilities at either: Repealed
  70. D17Division D17 Repealed
  71. Investment entities Repealed
  72. E6Division E6 Repealed
  73. E7Division E7 Repealed
  74. IFRS 3 Business Combinations Repealed
  75. 2ADivision 2A Repealed
  76. 7Division 7 Repealed
  77. 64GDivision 64G Repealed
  78. IFRS 7 Financial Instruments: Disclosures Repealed
  79. 3This IFRS shall be applied by all entities to all types of financial instruments, except: Repealed
  80. 44XDivision 44X Repealed
  81. IAS 7 Statement of Cash Flows Repealed
  82. 40ADivision 40A Repealed
  83. 42ADivision 42A Repealed
  84. 42BDivision 42B Repealed
  85. 58Division 58 Repealed
  86. IAS 12 Income Taxes Repealed
  87. 58Current and deferred tax shall be recognised as income or an expense and included in profit or loss for the period, except to the extent that the tax arises from: Repealed
  88. 68CDivision 68C Repealed
  89. 98CDivision 98C Repealed
  90. IAS 24 Related Party Disclosures Repealed
  91. 4Division 4 Repealed
  92. 9Division 9 Repealed
  93. 28BDivision 28B Repealed
  94. IAS 32 Financial Instruments: Presentation Repealed
  95. 4This Standard shall be applied by all entities to all types of financial instruments except: Repealed
  96. 97NDivision 97N Repealed
  97. IAS 34 Interim Financial Reporting Repealed
  98. 16AIn addition to disclosing significant events and transactions in accordance with paragraphs 15–15C, an entity shall include the following information, in the notes to its interim financial statements, if not disclosed elsewhere in the interim financial report. The information shall normally be reported on a financial year-to-date basis. Repealed
  99. 54Division 54 Repealed
  100. IAS 39 Financial Instruments: Recognition and Measurement Repealed
  101. 2This Standard shall be applied by all entities to all types of financial instruments except: Repealed
  102. 80Division 80 Repealed
  103. 103RDivision 103R Repealed
  104. Amendments to IFRS 12 Disclosure of Interests in Other Entities Repealed
  105. 2To meet the objective in paragraph 1, an entity shall disclose: Repealed
  106. Investment entity status Repealed
  107. 9ADivision 9A Repealed
  108. 9BWhen an entity becomes, or ceases to be, an investment entity, it shall disclose the change of investment entity status and the reasons for the change. In addition, an entity that becomes an investment entity shall disclose the effect of the change of status on the financial statements for the period presented, including: Repealed
  109. INTERESTS IN UNCONSOLIDATED SUBSIDIARIES (INVESTMENT ENTITIES) Repealed
  110. 19ADivision 19A Repealed
  111. 19BFor each unconsolidated subsidiary, an investment entity shall disclose: Repealed
  112. 19CDivision 19C Repealed
  113. 19DAn investment entity shall disclose: Repealed
  114. 19EIf, during the reporting period, an investment entity or any of its subsidiaries has, without having a contractual obligation to do so, provided financial or other support to an unconsolidated subsidiary (eg purchasing assets of, or instruments issued by, the subsidiary or assisting the subsidiary in obtaining financial support), the entity shall disclose: Repealed
  115. 19FDivision 19F Repealed
  116. 19GDivision 19G Repealed
  117. 21ADivision 21A Repealed
  118. 25ADivision 25A Repealed
  119. C1BDivision C1B Repealed
  120. Amendments to IAS 27 Separate Financial Statements Repealed
  121. 5The following terms are defined in Appendix A of IFRS 10 Consolidated Financial Statements, Appendix A of IFRS 11 Joint Arrangements and paragraph 3 of IAS 28 Investments in Associates and Joint Ventures: Repealed
  122. 6Division 6 Repealed
  123. 8ADivision 8A Repealed
  124. 11ADivision 11A Repealed
  125. 11BWhen a parent ceases to be an investment entity, or becomes an investment entity, it shall account for the change from the date when the change in status occurred, as follows: Repealed
  126. 16ADivision 16A Repealed
  127. 17When a parent (other than a parent covered by paragraphs 16–16A) or an investor with joint control of, or significant influence over, an investee prepares separate financial statements, the parent or investor shall identify the financial statements prepared in accordance with IFRS 10, IFRS 11 or IAS 28 (as amended in 2011) to which they relate. The parent or investor shall also disclose in its separate financial statements: Repealed
  128. 18Division 18 Repealed
  129. 18ADivision 18A Repealed
  130. 18BDivision 18B Repealed
  131. 18CAt the date of initial application, an investment entity that previously measured its investment in a subsidiary at cost shall instead measure that investment at fair value through profit or loss as if the requirements of this IFRS had always been effective. The investment entity shall adjust retrospectively the annual period immediately preceding the date of initial application and shall adjust retained earnings at the beginning of the immediately preceding period for any difference between: Repealed
  132. 18DDivision 18D Repealed
  133. 18EDivision 18E Repealed
  134. 18FDivision 18F Repealed
  135. 18GIf measuring the investment in the subsidiary in accordance with paragraphs 18C–18F is impracticable (as defined in IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors), an investment entity shall apply the requirements of this IFRS at the beginning of the earliest period for which application of paragraphs 18C–18F is practicable, which may be the current period. The investor shall adjust retrospectively the annual period immediately preceding the date of initial application, unless the beginning of the earliest period for which application of this paragraph is practicable is the current period. When the date that it is practicable for the investment entity to measure the fair value of the subsidiary is earlier than the beginning of the immediately preceding period, the investor shall adjust equity at the beginning of the immediately preceding period for any difference between: Repealed
  136. 18HDivision 18H Repealed
  137. 18IDivision 18I Repealed