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Commission Regulation
(EC) No 1725/2003 of 29 September
2003 amended by
Regulation (EC) No 2238/2004
and Regulation (EC) No 1910/2005
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Effective Date
23. An entity shall
apply this Standard for annual periods beginning on or
after 1 January 2005. Earlier application is encouraged. If an
entity applies this Standard for a period beginning
before 1 January 2005, it shall disclose that
fact.
Withdrawal of IAS 24
(reformatted 1994)
24. This Standard
supersedes IAS 24 Related Party Disclosures (reformatted
in 1994).
Appendix
Amendment to IAS 30
This amendment in
this appendix shall be applied for annual periods beginning
on or after 1 January 2005. If an entity applies this Standard
for an earlier period, this amendment shall be applied
for that earlier period. A1. In IAS 30 Disclosures in
the Financial Statements of Banks and Similar Financial
Institutions, paragraph 58 is amended to read as follows:
58. When a bank has
entered into transactions with related parties, it is
appropriate to disclose the nature of the related party
relationship as well as information about the transactions and
outstanding balances necessary for an understanding of the
potential effects of the relationship on the financial
statements of the bank. The disclosures are made in accordance
with IAS 24 and include disclosures relating to a bank’s
policy for lending to related parties and, in respect of
related party transactions, the amount included in:
(a) …
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