B1 As noted in
paragraph 9, an extension of the period required to complete
a sale does not preclude an asset (or disposal group) from
being classified as held for sale if the delay is caused by
events or circumstances beyond the entity’s control and
there is sufficient evidence that the entity remains
committed to its plan to sell the asset (or disposal group).
An exception to the one-year requirement in paragraph 8
shall therefore apply in the following situations in which
such events or circumstances arise:
(a) at the
date an entity commits itself to a plan to sell a
non-current asset (or disposal group) it reasonably
expects that others (not a buyer) will impose conditions
on the transfer of the asset (or disposal group) that
will extend
the period required to complete the sale, and:
(i)
actions necessary to respond to those conditions
cannot be initiated until after a firm purchase
commitment is obtained, and
(ii) a
firm purchase commitment is highly probable within
one year.
(b) an entity
obtains a firm purchase commitment and, as a result, a
buyer or others unexpectedly impose conditions on the
transfer of a non-current asset (or disposal group)
previously classified as held for sale that will extend
the
period required to complete the sale, and:
(i) timely
actions necessary to respond to the conditions have
been taken, and
(ii) a
favourable resolution of the delaying factors is
expected.
(c) during the
initial one-year period, circumstances arise that were
previously considered unlikely and, as a result, a
non-current asset (or disposal group) previously
classified as held for sale is not sold by the end of
that period, and:
(i) during
the initial one-year period the entity took action
necessary to respond to the change in circumstances,
(ii) the
non-current asset (or disposal group) is being
actively marketed at a price that is reasonable,
given the change in circumstances, and
(iii) the
criteria in paragraphs 7 and 8 are met.
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