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Commission Regulation (EU) 2018/400 of 14 March 2018 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 Accounting Standard (IAS) 40 (Text with EEA relevance) (revoked)

EU Regulation 2018/400 · Adopted 14 March 2018 · Extends to United Kingdom

Original text. legislation.gov.uk does not revise this item, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Commission Regulation (EU) 2018/400

of 14 March 2018

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 Accounting Standard (IAS) 40

(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. 61 (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  1. 1Article 1 Repealed
  2. 2Article 2 Repealed
  3. 3Article 3 Repealed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 Annex Repealed
  6. Transfers of Investment Property(Amendments to IAS 40) Repealed
  7. Amendments to IAS 40 Investment Property Repealed
  8. TRANSFERS Repealed
  9. 57An entity shall transfer a property to, or from, investment property when, and only when, there is a change in use. A change in use occurs when the property meets, or ceases to meet, the definition of investment property and there is evidence of the change in use. In isolation, a change in management's intentions for the use of a property does not provide evidence of a change in use. Examples of evidence of a change in use include: Repealed
  10. 58When an entity decides to dispose of an investment property without development, it continues to treat the property as an investment property until it is derecognised (eliminated from the statement of financial position) and does not reclassify it as inventory. Similarly, if an entity begins to redevelop an existing investment property for continued future use as investment property, the property remains an investment property and is not reclassified as owner-occupied property during the redevelopment. Repealed
  11. TRANSITIONAL PROVISIONS Repealed
  12. Transfers of investment property Repealed
  13. 84CDivision 84C Repealed
  14. 84DDivision 84D Repealed
  15. 84EIf, in accordance with paragraph 84C, an entity reclassifies property at the date of initial application, the entity shall: Repealed
  16. EFFECTIVE DATE Repealed
  17. 85GDivision 85G Repealed

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2F1

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Signature

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Transfers of Investment Property(Amendments to IAS 40)F1

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Amendments to IAS 40 Investment PropertyF1

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TRANSFERSF1

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57An entity shall transfer a property to, or from, investment property when, and only when, there is a change in use. A change in use occurs when the property meets, or ceases to meet, the definition of investment property and there is evidence of the change in use. In isolation, a change in management's intentions for the use of a property does not provide evidence of a change in use. Examples of evidence of a change in use include:F1

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58When an entity decides to dispose of an investment property without development, it continues to treat the property as an investment property until it is derecognised (eliminated from the statement of financial position) and does not reclassify it as inventory. Similarly, if an entity begins to redevelop an existing investment property for continued future use as investment property, the property remains an investment property and is not reclassified as owner-occupied property during the redevelopment.F1

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TRANSITIONAL PROVISIONSF1

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Transfers of investment propertyF1

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84CF1

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84DF1

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84EIf, in accordance with paragraph 84C, an entity reclassifies property at the date of initial application, the entity shall:F1

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EFFECTIVE DATEF1

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85GF1

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