# Commission Regulation (EU) 2015/28 of 17 December 2014 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 2, 3 and 8 and International Accounting Standards 16, 24 and 38 (Text with EEA relevance) (revoked) EU Regulation 2015/28 · adopted 17 December 2014 Commission Regulation (EU) 2015/28 of 17 December 2014 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 2, 3 and 8 and International Accounting Standards 16, 24 and 38 (Text with EEA relevance) ## Introductory text Commission Regulation (EU) 2015/28 of 17 December 2014 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 2, 3 and 8 and International Accounting Standards 16, 24 and 38 (Text with EEA relevance) (revoked) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Annex: Annual Improvements to IFRSs 2010–2012 Cycle ## Amendment to IFRS 2 Share-based Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Transactions in which services are received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 If the equity instruments granted do not vest until the counterparty completes a specified period of service, the entity shall presume that the services to be rendered by the counterparty as consideration for those equity instruments will be received in the future, during the vesting period. The entity shall account for those services as they are rendered by the counterparty during the vesting period, with a corresponding increase in equity. For example: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Treatment of vesting conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 19 A grant of equity instruments might be conditional upon satisfying specified vesting conditions. For example, a grant of shares or share options to an employee is typically conditional on the employee remaining in the entity's employ for a specified period of time. There might be performance conditions that must be satisfied, such as the entity achieving a specified growth in profit or a specified increase in the entity's share price. Vesting conditions, other than market conditions, shall not be taken into account when estimating the fair value of the shares or share options at the measurement date. Instead, vesting conditions shall be taken into account by adjusting the number of equity instruments included in the measurement of the transaction amount so that, ultimately, the amount recognised for goods or services received as consideration for the equity instruments granted shall be based on the number of equity instruments that eventually vest. Hence, on a cumulative basis, no amount is recognised for goods or services received if the equity instruments granted do not vest because of failure to satisfy a vesting condition, eg the counterparty fails to complete a specified service period, or a performance condition is not satisfied, subject to the requirements of paragraph 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## EFFECTIVE DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 63B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Appendix A Defined terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendment to IFRS 3 Business Combinations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Contingent consideration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 40 The acquirer shall classify an obligation to pay contingent consideration that meets the definition of a financial instrument as a financial liability or as equity on the basis of the definitions of an equity instrument and a financial liability in paragraph 11 of IAS 32 Financial Instruments: Presentation. The acquirer shall classify as an asset a right to the return of previously transferred consideration if specified conditions are met. Paragraph 58 provides guidance on the subsequent accounting for contingent consideration. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Contingent consideration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 58 Some changes in the fair value of contingent consideration that the acquirer recognises after the acquisition date may be the result of additional information that the acquirer obtained after that date about facts and circumstances that existed at the acquisition date. Such changes are measurement period adjustments in accordance with paragraphs 45–49. However, changes resulting from events after the acquisition date, such as meeting an earnings target, reaching a specified share price or reaching a milestone on a research and development project, are not measurement period adjustments. The acquirer shall account for changes in the fair value of contingent consideration that are not measurement period adjustments as follows: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Effective date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 64I Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraphs 40 and 58 and added paragraph 67A and its related heading. An entity shall apply that amendment prospectively to business combinations for which the acquisition date is on or after 1 July 2014. Earlier application is permitted. An entity may apply the amendment earlier provided that IFRS 9 and IAS 37 (both as amended by Annual Improvements to IFRSs 2010–2012 Cycle) have also been applied. If an entity applies that amendment earlier it shall disclose that fact. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## REFERENCE TO IFRS 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 67A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Consequential amendments to other IFRSs resulting from the amendment to IFRS 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendment to IFRS 9 Financial Instruments (issued in November 2009) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Investments in equity instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5.4.4 At initial recognition, an entity may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument within the scope of this IFRS that is not held for trading and is also not contingent consideration of an acquirer in a business combination to which IFRS 3 Business Combinations applies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8.1 EFFECTIVE DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8.1.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendment to IFRS 9 Financial Instruments (issued in October 2010) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4.2 Classification of financial liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4.2.1 An entity shall classify all financial liabilities as subsequently measured at amortised cost using the effective interest method, except for: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Investments in equity instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5.7.5 At initial recognition, an entity may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument within the scope of this IFRS that is not held for trading and is also not contingent consideration of an acquirer in a business combination to which IFRS 3 applies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7.1 EFFECTIVE DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7.1.4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendment to IAS 37 Provisions, Contingent Liabilities and Contingent Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## SCOPE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 When another Standard deals with a specific type of provision, contingent liability or contingent asset, an entity applies that Standard instead of this Standard. For example, some types of provisions are addressed in Standards on: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## EFFECTIVE DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendment to IAS 39 Financial Instruments: Recognition and Measurement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 The following terms are used in this Standard with the meanings specified: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Definitions of four categories of financial instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## EFFECTIVE DATE AND TRANSITION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 108F . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendments to IFRS 8 Operating Segments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## General information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 An entity shall disclose the following general information: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Reconciliations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28 An entity shall provide reconciliations of all of the following: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## TRANSITION AND EFFECTIVE DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 36C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendment to IAS 16 Property, Plant and Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Revaluation model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 35 When an item of property, plant and equipment is revalued, the carrying amount of that asset is adjusted to the revalued amount. At the date of the revaluation, the asset is treated in one of the following ways: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## TRANSITIONAL PROVISIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 80A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## EFFECTIVE DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 81H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendment to IAS 24 Related Party Disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 The following terms are used in this Standard with the meanings specified: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## All entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 17A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18A Amounts incurred by the entity for the provision of key management personnel services that are provided by a separate management entity shall be disclosed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## EFFECTIVE DATE AND TRANSITION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendment to IAS 38 Intangible Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Revaluation model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 80 When an intangible asset is revalued, the carrying amount of that asset is adjusted to the revalued amount. At the date of the revaluation, the asset is treated in one of the following ways: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## TRANSITIONAL PROVISIONS AND EFFECTIVE DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 130H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 130I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/eur/2015/28 (the official version) Page: https://openlegislation.uk/eu-regulation-2015-28 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.