Commission Regulation (EU) No 1361/2014
of 18 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 3 and 13 and International Accounting Standard 40
(Text with EEA relevance) (revoked)
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F1Article 1
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F1 Article 2
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F1Article 3
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F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1ANNEXAnnual Improvements to IFRSs 2011–2013 Cycle
F1 Amendment to IFRS 3 Business Combinations
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F1SCOPE
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F12This IFRS applies to a transaction or other event that meets the definition of a business combination. This IFRS does not apply to:
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F1 Effective date
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F164J
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F1 Amendment to IFRS 13 Fair Value Measurement
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F1 Application to financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risk
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F152The exception in paragraph 48 applies only to financial assets, financial liabilities and other contracts within the scope of IAS 39 Financial Instruments: Recognition and Measurement or IFRS 9 Financial Instruments. The references to financial assets and financial liabilities in paragraphs 48–51 and 53–56 should be read as applying to all contracts within the scope of, and accounted for in accordance with, IAS 39 or IFRS 9, regardless of whether they meet the definitions of financial assets or financial liabilities in IAS 32 Financial Instruments: Presentation.
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F1 Appendix C Effective date and transition
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F1C4
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F1 Amendment to IAS 40 Investment Property
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F1 Classification of property as investment property or owner-occupied property
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F1 6 A property interest that is held by a lessee under an operating lease may be classified and accounted for as investment property if, and only if, the property would otherwise meet the definition of an investment property and the lessee uses the fair value model set out in paragraphs 33–55 for the asset recognised. This classification alternative is available on a property-by-property basis. However, once this classification alternative is selected for one such property interest held under an operating lease, all property classified as investment property shall be accounted for using the fair value model. When this classification alternative is selected, any interest so classified is included in the disclosures required by paragraphs 74–78.
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F114
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F114AJudgement is also needed to determine whether the acquisition of investment property is the acquisition of an asset or a group of assets or a business combination within the scope of IFRS 3 Business Combinations. Reference should be made to IFRS 3 to determine whether it is a business combination. The discussion in paragraphs 7–14 of this Standard relates to whether or not property is owner-occupied property or investment property and not to determining whether or not the acquisition of property is a business combination as defined in IFRS 3. Determining whether a specific transaction meets the definition of a business combination as defined in IFRS 3 and includes an investment property as defined in this Standard requires the separate application of both Standards.
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F1 Transitional provisions
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F1 Cost model
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F1 Business Combinations
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F1 84A
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F1EFFECTIVE DATE
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F185D
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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. 43 (with reg. 20(2)) (as amended by S.I. 2020/335, regs. 1, 5); 2020 c. 1, Sch. 5 para. 1(1)