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government and other government related entities. It also clarifies and
simplifies the definition of a related party.
The amendment is not expected to impact on the group.
IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments
This interpretation clarifies the accounting when an entity renegotiates
the terms of its debt with the result that the liability is extinguished
through the debtor issuing its own equity instruments to the creditor.
The interpretation is currently not applicable to the group.
IFRIC 14 Amendment – Prepayments of a Minimum Funding
Requirement
This amendment removes an unintended consequence of IFRIC 14 related
to voluntary pension prepayments when there is a minimum funding
requirement.
The amendment is currently not applicable to the group.
Annual Improvements Project
Improvements to IFRSs were issued in April 2009 and May 2010 as part
of the annual improvement process resulting in amendments to the
following standards. Unless otherwise specified, the amendments are
effective for annual periods beginning on or after 1 January 2010, although
entities are permitted to adopt them earlier.
The following standards have been affected by the project:
� IFRS 2 Share based Payments
� IFRS 3 Business Combinations (effective 1 January 2011)
� IFRS 5 Non Current Assets Held for Sale and Discontinued Operations
� IFRS 7 Financial Instruments: Disclosures (effective 1 January 2011)
� IFRS 8 Operating Segments
� IAS 1 Presentation of Financial Statements
� IAS 7 Statement of Cash Flows
� IAS 17 Leases
� IAS 18 Revenue
ACCOUNTING POLICIES continued
� IAS 27 Consolidated and Separate Financial Statements (effective
1 January 2011)
� IAS 34 Interim Financial Reporting (effective 1 January 2011)
� IAS 36 Impairment of Assets
� IAS 38 Intangible Assets
� IAS 39 Financial Instruments: Recognition and Measurement
� IFRIC 9 Reassessment of Embedded Derivatives
� IFRIC 13 Customer Loyalty Programmes (effective 1 January 2011)
� IFRIC 16 Hedges of a Net Investment in a Foreign Operation
Management is currently considering whether any of these changes have
an effect.
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