# Official Journal L 11/2021

| | ISSN 1977-0677 |
| --- | --- |
| Official Journal
  of the European Union | L 11 |
| | |
| English edition | Legislation | Volume 6414 January 2021 |

ISSN 1977-0677

Official Journal

of the European Union

L 11

English edition

Legislation

Volume 6414 January 2021

---

| Contents | | II   Non-legislative acts | page |
| --- | --- | --- | --- |
| | | REGULATIONS |
| | * | Commission Implementing Regulation (EU) 2021/24 of 13 January 2021 amending Annex I to Regulation (EC) No 798/2008 as regards the entry for the United Kingdom in the list of third countries, territories, zones or compartments from which certain poultry commodities may be imported into and transit through the Union in relation to highly pathogenic avian influenza (
  1
  ) | 1 |
| | * | Commission Regulation (EU) 2021/25 of 13 January 2021 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 39 and International Financial Reporting Standards 4, 7, 9 and 16 (
  1
  ) | 7 |
| | | DECISIONS |
| | * | Council Decision (EU) 2021/26 of 12 January 2021 further extending the temporary derogation from the Council’s Rules of Procedure introduced by Decision (EU) 2020/430, and extended by Decisions (EU) 2020/556, (EU) 2020/702, (EU) 2020/970, (EU) 2020/1253 and (EU) 2020/1659, in view of the travel difficulties caused by the COVID-19 pandemic in the Union | 19 |

Contents

II   Non-legislative acts

page

REGULATIONS

*

Commission Implementing Regulation (EU) 2021/24 of 13 January 2021 amending Annex I to Regulation (EC) No 798/2008 as regards the entry for the United Kingdom in the list of third countries, territories, zones or compartments from which certain poultry commodities may be imported into and transit through the Union in relation to highly pathogenic avian influenza (
  1
  )

1

1

*

Commission Regulation (EU) 2021/25 of 13 January 2021 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 39 and International Financial Reporting Standards 4, 7, 9 and 16 (
  1
  )

1

7

DECISIONS

*

Council Decision (EU) 2021/26 of 12 January 2021 further extending the temporary derogation from the Council’s Rules of Procedure introduced by Decision (EU) 2020/430, and extended by Decisions (EU) 2020/556, (EU) 2020/702, (EU) 2020/970, (EU) 2020/1253 and (EU) 2020/1659, in view of the travel difficulties caused by the COVID-19 pandemic in the Union

19

| | | Corrigenda |
| --- | --- | --- |
| | * | Corrigendum to Commission Implementing Regulation (EU) 2020/1577 of 21 September 2020 amending Annex I to Council Regulation (EEC) No 2658/87 on the tariff and statistical nomenclature and on the Common Customs Tariff ( OJ L 361, 30.10.2020 ) | 21 |

Corrigenda

*

Corrigendum to Commission Implementing Regulation (EU) 2020/1577 of 21 September 2020 amending Annex I to Council Regulation (EEC) No 2658/87 on the tariff and statistical nomenclature and on the Common Customs Tariff ( OJ L 361, 30.10.2020 )

( OJ L 361, 30.10.2020 )

21

| | |
| --- | --- |
| | (1)   Text with EEA relevance. |

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(1)   Text with EEA relevance.

1

| EN | Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period.
  The titles of all other Acts are printed in bold type and preceded by an asterisk. |
| --- | --- |

EN

Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period.

The titles of all other Acts are printed in bold type and preceded by an asterisk.

---

II Non-legislative acts

REGULATIONS

| 14.1.2021 | EN | Official Journal of the European Union | L 11/1 |
| --- | --- | --- | --- |

14.1.2021

EN

Official Journal of the European Union

L 11/1

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COMMISSION IMPLEMENTING REGULATION (EU) 2021/24

of 13 January 2021

amending Annex I to Regulation (EC) No 798/2008 as regards the entry for the United Kingdom in the list of third countries, territories, zones or compartments from which certain poultry commodities may be imported into and transit through the Union in relation to highly pathogenic avian influenza

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Council Directive 2002/99/EC of 16 December 2002 laying down the animal health rules governing the production, processing, distribution and introduction of products of animal origin for human consumption (1), and in particular the introductory phrase of Article 8, the first subparagraph of paragraph 1 of Article 8, paragraph 4 of Article 8 and Article 9(4) thereof,

Having regard to Council Directive 2009/158/EC of 30 November 2009 on animal health conditions governing intra-Community trade in, and imports from third countries of, poultry and hatching eggs (2), and in particular Articles 23(1), 24(2) and 25(2) thereof,

Whereas:

| (1) | Commission Regulation (EC) No 798/2008 (3) lays down veterinary certification requirements for imports into and transit, including storage during transit, through the Union of poultry and poultry products (‘the commodities’). It provides that the commodities are only to be imported into and transit through the Union from the third countries, territories, zones or compartments listed in columns 1 and 3 of the table in Part 1 of Annex I thereto. |
| --- | --- |

(1)

Commission Regulation (EC) No 798/2008 (3) lays down veterinary certification requirements for imports into and transit, including storage during transit, through the Union of poultry and poultry products (‘the commodities’). It provides that the commodities are only to be imported into and transit through the Union from the third countries, territories, zones or compartments listed in columns 1 and 3 of the table in Part 1 of Annex I thereto.

| (2) | Regulation (EC) No 798/2008 also lays down the conditions for a third country, territory, zone or compartment to be considered as free from highly pathogenic avian influenza (HPAI). |
| --- | --- |

(2)

Regulation (EC) No 798/2008 also lays down the conditions for a third country, territory, zone or compartment to be considered as free from highly pathogenic avian influenza (HPAI).

| (3) | The United Kingdom is listed in the table in Part 1 of Annex I to Regulation (EC) No 798/2008 as a third country from which imports into and transit through the Union of certain poultry commodities are authorised from certain parts of its territory depending on the presence of HPAI. The regionalisation of the United Kingdom was set out in Part 1 of Annex I to Regulation (EC) No 798/2008, as amended by Commission Implementing Regulation (EU) 2020/2205 (4). |
| --- | --- |

(3)

The United Kingdom is listed in the table in Part 1 of Annex I to Regulation (EC) No 798/2008 as a third country from which imports into and transit through the Union of certain poultry commodities are authorised from certain parts of its territory depending on the presence of HPAI. The regionalisation of the United Kingdom was set out in Part 1 of Annex I to Regulation (EC) No 798/2008, as amended by Commission Implementing Regulation (EU) 2020/2205 (4).

| (4) | However, in December 2020 the United Kingdom has confirmed further HPAI outbreaks of subtypes H5N8 and H5N1 in poultry holdings on its territory. Due to those outbreaks, further regionalisation of the country was set out in the Annex to Commission Implementing Decision (EU) 2020/1742 (5), as amended by Implementing Decision (EU) 2020/2240 (6), and Commission Implementing Decision (EU) 2020/2242 (7) in accordance with the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community (Withdrawal Agreement), without prejudice to the application of Union law to and in the United Kingdom in respect of Northern Ireland in accordance with Article 5(4) of the Protocol on Ireland/Northern Ireland to the Withdrawal Agreement in conjunction with Annex 2 to that Protocol. As the measures for the control and eradication of those outbreaks continue after 31 December 2020, that regionalisation should be reflected in Regulation (EC) No 798/2008. |
| --- | --- |

(4)

However, in December 2020 the United Kingdom has confirmed further HPAI outbreaks of subtypes H5N8 and H5N1 in poultry holdings on its territory. Due to those outbreaks, further regionalisation of the country was set out in the Annex to Commission Implementing Decision (EU) 2020/1742 (5), as amended by Implementing Decision (EU) 2020/2240 (6), and Commission Implementing Decision (EU) 2020/2242 (7) in accordance with the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community (Withdrawal Agreement), without prejudice to the application of Union law to and in the United Kingdom in respect of Northern Ireland in accordance with Article 5(4) of the Protocol on Ireland/Northern Ireland to the Withdrawal Agreement in conjunction with Annex 2 to that Protocol. As the measures for the control and eradication of those outbreaks continue after 31 December 2020, that regionalisation should be reflected in Regulation (EC) No 798/2008.

| (5) | Moreover, after the publication of Implementing Decisions (EU) 2020/2240 and (EU) 2020/2242, the United Kingdom has confirmed further HPAI outbreaks within the zones established therein, which should also be reflected in Regulation (EC) No 798/2008. |
| --- | --- |

(5)

Moreover, after the publication of Implementing Decisions (EU) 2020/2240 and (EU) 2020/2242, the United Kingdom has confirmed further HPAI outbreaks within the zones established therein, which should also be reflected in Regulation (EC) No 798/2008.

| (6) | The entry for the United Kingdom in the table in Part 1 of Annex I to Regulation (EC) No 798/2008 should, therefore, be amended to take account of the current epidemiological situation in that third country. |
| --- | --- |

(6)

The entry for the United Kingdom in the table in Part 1 of Annex I to Regulation (EC) No 798/2008 should, therefore, be amended to take account of the current epidemiological situation in that third country.

| (7) | Furthermore, as the regionalisation of the United Kingdom for those outbreaks was set out when Union law applied to that country in accordance with the Withdrawal Agreement, the protective measures in relation to the HPAI outbreaks confirmed in 2020 would have been lifted 30 days after the date of confirmation. It is appropriate, therefore, to indicate those dates as the dates as of when the areas under restriction due to the outbreaks confirmed in 2020 may again be considered as free from HPAI and imports into and transit through the Union of certain poultry commodities originating in those areas should be authorised again. |
| --- | --- |

(7)

Furthermore, as the regionalisation of the United Kingdom for those outbreaks was set out when Union law applied to that country in accordance with the Withdrawal Agreement, the protective measures in relation to the HPAI outbreaks confirmed in 2020 would have been lifted 30 days after the date of confirmation. It is appropriate, therefore, to indicate those dates as the dates as of when the areas under restriction due to the outbreaks confirmed in 2020 may again be considered as free from HPAI and imports into and transit through the Union of certain poultry commodities originating in those areas should be authorised again.

| (8) | Annex I to Regulation (EC) No 798/2008 should therefore be amended accordingly. |
| --- | --- |

(8)

Annex I to Regulation (EC) No 798/2008 should therefore be amended accordingly.

| (9) | The measures provided for in this Regulation are in accordance with the opinion of the Standing Committee on Plants, Animals, Food and Feed, |
| --- | --- |

(9)

The measures provided for in this Regulation are in accordance with the opinion of the Standing Committee on Plants, Animals, Food and Feed,

HAS ADOPTED THIS REGULATION:

Article 1

Part 1 of Annex I to Regulation (EC) No 798/2008 is amended in accordance with the Annex to this Regulation.

Article 2

This Regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 13 January 2021.

For the Commission

The President

Ursula VON DER LEYEN

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(1)  
  OJ L 18, 23.1.2003, p. 11.

1

(2)  
  OJ L 343, 22.12.2009, p. 74.

2

(3)  Commission Regulation (EC) No 798/2008 of 8 August 2008 laying down a list of third countries, territories, zones or compartments from which poultry and poultry products may be imported into and transit through the Community and the veterinary certification requirements (OJ L 226, 23.8.2008, p. 1).

3

(4)  Commission Implementing Regulation (EU) 2020/2205 of 22 December 2020 amending Annex I to Regulation (EC) No 798/2008 as regards the entry for the United Kingdom and the Crown Dependency of Guernsey in the lists of third countries, territories, zones or compartments from which consignments of poultry and poultry products may be imported into or transit through the Union (OJ L 438, 28.12.2020, p. 11).

4

(5)  Commission Implementing Decision (EU) 2020/1742 of 20 November 2020 concerning certain protective measures in relation to highly pathogenic avian influenza of subtype H5N8 in the United Kingdom (OJ L 392, 23.11.2020, p. 60).

5

(6)  Commission Implementing Decision (EU) 2020/2240 of 23 December 2020 amending the Annex to Implementing Decision (EU) 2020/1742 concerning certain protective measures in relation to highly pathogenic avian influenza of subtype H5N8 in the United Kingdom (OJ L 436, 28.12.2020, p. 34).

6

(7)  Commission Implementing Decision (EU) 2020/2242 of 23 December 2020 concerning certain protective measures in relation to highly pathogenic avian influenza of subtype H5N1 in the United Kingdom (OJ L 436, 28.12.2020, p. 69).

7

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ANNEX

In Part 1 of Annex I to Regulation (EC) No 798/2008, the entry for the United Kingdom is replaced by the following:

| ‘GB - United Kingdom (*1) | GB-0 | Whole country | SPF | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| EP, E | | | | | | | |
| GB-1 | The whole country of the United Kingdom, excluding area GB-2 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N | | | A | | |
| WGM | | | | | | | |
| POU, RAT | | N | | | | | |
| GB-2 | The territory of the United Kingdom corresponding to: | | | | | | | | |
| GB-2.1 | North Yorkshire County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N54.30 and W1.47 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 6.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 6.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 6.1.2021 | | | |
| GB-2.2 | North Yorkshire County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N54.29 and W1.45 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 8.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 8.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 8.1.2021 | | | |
| GB-2.3 | Norfolk County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.49 and E0.95 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 10.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 10.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 10.1.2021 | | | |
| GB-2.4 | Norfolk County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.72 and E0.15 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 11.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 11.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 11.1.2021 | | | |
| GB-2.5 | Derbyshire County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.93 and W1.57 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 17.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 17.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 17.1.2021 | | | |
| GB-2.6 | North Yorkshire County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N54.37 and W2.16 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 19.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 19.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 19.1.2021 | | | |
| GB-2.7 | Orkney Islands:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N59.28 and W2.44 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 20.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 20.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 20.1.2021 | | | |
| GB-2.8 | Dorset County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N51.06 and W2.27 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 20.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 20.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 20.1.2021 | | | |
| GB-2.9 | Norfolk County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.52 and E0.96 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 23.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 23.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 23.1.2021 | | | |
| GB-2.10 | Norfolk County:
  The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.52 and E0.95 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 28.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 28.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 28.1.2021 | | | |
| GB-2.11 | Norfolk Country:
  The area contained within a circle of a radius of 10.4 km, centered on WGS84 dec. coordinates N52.53 and E0.66 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 7.2.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 7.2.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 7.2.2021 | | | |
| GB-2.12 | Devon County:
  The area contained within a circle of a radius of 10 km, centred on WGS84 dec. coordinates N50.70 and W3.36 | BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20 | | N
  P2 | 1.1.2021 | 31.1.2021 | A | | |
| WGM | | P2 | 1.1.2021 | 31.1.2021 | | | |
| POU, RAT | | N
  P2 | 1.1.2021 | 31.1.2021 | | | |

‘GB - United Kingdom (*1)

GB-0

Whole country

SPF

EP, E

GB-1

The whole country of the United Kingdom, excluding area GB-2

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

A

WGM

POU, RAT

N

GB-2

The territory of the United Kingdom corresponding to:

GB-2.1

North Yorkshire County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N54.30 and W1.47

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

6.1.2021

A

WGM

P2

1.1.2021

6.1.2021

POU, RAT

N

P2

1.1.2021

6.1.2021

GB-2.2

North Yorkshire County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N54.29 and W1.45

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

8.1.2021

A

WGM

P2

1.1.2021

8.1.2021

POU, RAT

N

P2

1.1.2021

8.1.2021

GB-2.3

Norfolk County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.49 and E0.95

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

10.1.2021

A

WGM

P2

1.1.2021

10.1.2021

POU, RAT

N

P2

1.1.2021

10.1.2021

GB-2.4

Norfolk County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.72 and E0.15

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

11.1.2021

A

WGM

P2

1.1.2021

11.1.2021

POU, RAT

N

P2

1.1.2021

11.1.2021

GB-2.5

Derbyshire County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.93 and W1.57

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

17.1.2021

A

WGM

P2

1.1.2021

17.1.2021

POU, RAT

N

P2

1.1.2021

17.1.2021

GB-2.6

North Yorkshire County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N54.37 and W2.16

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

19.1.2021

A

WGM

P2

1.1.2021

19.1.2021

POU, RAT

N

P2

1.1.2021

19.1.2021

GB-2.7

Orkney Islands:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N59.28 and W2.44

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

20.1.2021

A

WGM

P2

1.1.2021

20.1.2021

POU, RAT

N

P2

1.1.2021

20.1.2021

GB-2.8

Dorset County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N51.06 and W2.27

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

20.1.2021

A

WGM

P2

1.1.2021

20.1.2021

POU, RAT

N

P2

1.1.2021

20.1.2021

GB-2.9

Norfolk County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.52 and E0.96

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

23.1.2021

A

WGM

P2

1.1.2021

23.1.2021

POU, RAT

N

P2

1.1.2021

23.1.2021

GB-2.10

Norfolk County:

The area contained within a circle of a radius of 10 km, centered on WGS84 dec. coordinates N52.52 and E0.95

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

28.1.2021

A

WGM

P2

1.1.2021

28.1.2021

POU, RAT

N

P2

1.1.2021

28.1.2021

GB-2.11

Norfolk Country:

The area contained within a circle of a radius of 10.4 km, centered on WGS84 dec. coordinates N52.53 and E0.66

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

7.2.2021

A

WGM

P2

1.1.2021

7.2.2021

POU, RAT

N

P2

1.1.2021

7.2.2021

GB-2.12

Devon County:

The area contained within a circle of a radius of 10 km, centred on WGS84 dec. coordinates N50.70 and W3.36

BPP, BPR, DOC, DOR, HEP, HER, SRP, SRA, LT20

N

P2

1.1.2021

31.1.2021

A

WGM

P2

1.1.2021

31.1.2021

POU, RAT

N

P2

1.1.2021

31.1.2021

---

(*1)  In accordance with the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community, and in particular Article 5(4) of the Protocol on Ireland/Northern Ireland in conjunction with Annex 2 to that Protocol, for the purposes of this Annex references to the United Kingdom do not include Northern Ireland.’.

*1

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| 14.1.2021 | EN | Official Journal of the European Union | L 11/7 |
| --- | --- | --- | --- |

14.1.2021

EN

Official Journal of the European Union

L 11/7

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COMMISSION REGULATION (EU) 2021/25

of 13 January 2021

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 39 and International Financial Reporting Standards 4, 7, 9 and 16

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (1), and in particular Article 3(1) thereof,

Whereas:

| (1) | By Commission Regulation (EC) No 1126/2008 (2) certain international standards and interpretations that were in existence at 15 October 2008 were adopted. |
| --- | --- |

(1)

By Commission Regulation (EC) No 1126/2008 (2) certain international standards and interpretations that were in existence at 15 October 2008 were adopted.

| (2) | On 22 July 2014, the Financial Stability Board published the report ‘Reforming Major Interest Rate Benchmarks’, which laid down recommendations to strengthen existing benchmarks and other potential reference rates based on interbank markets and to develop alternative nearly risk-free reference rates. |
| --- | --- |

(2)

On 22 July 2014, the Financial Stability Board published the report ‘Reforming Major Interest Rate Benchmarks’, which laid down recommendations to strengthen existing benchmarks and other potential reference rates based on interbank markets and to develop alternative nearly risk-free reference rates.

| (3) | Regulation (EU) 2016/1011 of the European Parliament and of the Council (3) introduced a common framework to ensure the accuracy and the integrity of indices used as benchmarks in financial instruments and financial contracts, or to measure the performance of investments funds in the Union. |
| --- | --- |

(3)

Regulation (EU) 2016/1011 of the European Parliament and of the Council (3) introduced a common framework to ensure the accuracy and the integrity of indices used as benchmarks in financial instruments and financial contracts, or to measure the performance of investments funds in the Union.

| (4) | Commission Regulation (EU) 2020/34 (4) provides temporary and narrow exemptions to the hedge accounting requirements of International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement and International Financial Reporting Standard (IFRS) 9 Financial Instruments to address financial reporting consequences of the interest rate benchmark reform in the period before the replacement of an existing interest rate benchmark. |
| --- | --- |

(4)

Commission Regulation (EU) 2020/34 (4) provides temporary and narrow exemptions to the hedge accounting requirements of International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement and International Financial Reporting Standard (IFRS) 9 Financial Instruments to address financial reporting consequences of the interest rate benchmark reform in the period before the replacement of an existing interest rate benchmark.

| (5) | On 27 August 2020, the International Accounting Standards Board published Interest Rate Benchmark Reform – Phase 2 – Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 to address the financial reporting consequences of the actual replacement of existing interest rate benchmarks with alternative reference rates. |
| --- | --- |

(5)

On 27 August 2020, the International Accounting Standards Board published Interest Rate Benchmark Reform – Phase 2 – Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 to address the financial reporting consequences of the actual replacement of existing interest rate benchmarks with alternative reference rates.

| (6) | Those amendments provide for a specific accounting treatment to spread value changes of financial instruments or lease contracts due to the replacement of the interest rate benchmark over time, which prevents a sudden impact on Profit or Loss, and prevent unnecessary discontinuations of hedging relationships as a consequence of the replacement of the interest rate benchmark. |
| --- | --- |

(6)

Those amendments provide for a specific accounting treatment to spread value changes of financial instruments or lease contracts due to the replacement of the interest rate benchmark over time, which prevents a sudden impact on Profit or Loss, and prevent unnecessary discontinuations of hedging relationships as a consequence of the replacement of the interest rate benchmark.

| (7) | Following the consultation with the European Financial Reporting Advisory Group, the Commission concludes that the amendments to IAS 39 Financial Instruments: Recognition and Measurement, IFRS 4 Insurance Contracts, IFRS 7 Financial Instruments: Disclosures, IFRS 9 Financial Instruments and IFRS 16 Leases meet the criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002. |
| --- | --- |

(7)

Following the consultation with the European Financial Reporting Advisory Group, the Commission concludes that the amendments to IAS 39 Financial Instruments: Recognition and Measurement, IFRS 4 Insurance Contracts, IFRS 7 Financial Instruments: Disclosures, IFRS 9 Financial Instruments and IFRS 16 Leases meet the criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002.

| (8) | Regulation (EC) No 1126/2008 should therefore be amended accordingly. |
| --- | --- |

(8)

Regulation (EC) No 1126/2008 should therefore be amended accordingly.

| (9) | The measures provided for in this Regulation are in accordance with the opinion of the Accounting Regulatory Committee, |
| --- | --- |

(9)

The measures provided for in this Regulation are in accordance with the opinion of the Accounting Regulatory Committee,

HAS ADOPTED THIS REGULATION:

Article 1

The Annex to Regulation (EC) No 1126/2008 is amended as follows:

| (a) | International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement is amended as set out in the Annex to this Regulation; |
| --- | --- |

(a)

International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement is amended as set out in the Annex to this Regulation;

| (b) | International Financial Reporting Standard (IFRS) 4 Insurance contracts is amended as set out in the Annex to this Regulation; |
| --- | --- |

(b)

International Financial Reporting Standard (IFRS) 4 Insurance contracts is amended as set out in the Annex to this Regulation;

| (c) | IFRS 7 Financial Instruments: Disclosures is amended as set out in the Annex to this Regulation; |
| --- | --- |

(c)

IFRS 7 Financial Instruments: Disclosures is amended as set out in the Annex to this Regulation;

| (d) | IFRS 9 Financial Instruments is amended as set out in the Annex to this Regulation; |
| --- | --- |

(d)

IFRS 9 Financial Instruments is amended as set out in the Annex to this Regulation;

| (e) | IFRS 16 Leases is amended as set out in the Annex to this Regulation. |
| --- | --- |

(e)

IFRS 16 Leases is amended as set out in the Annex to this Regulation.

Article 2

Each company shall apply the amendments referred to in Article 1, at the latest, as from the commencement date of its first financial year starting on or after 1 January 2021.

Article 3

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 13 January 2021.

For the Commission

The President

Ursula VON DER LEYEN

---

(1)  
  OJ L 243, 11.9.2002, p. 1.

1

(2)  Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council (OJ L 320, 29.11.2008, p. 1).

2

(3)  Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (OJ L 171, 29.6.2016, p. 1).

3

(4)  Commission Regulation (EU) 2020/34 of 15 January 2020 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 39, International Financial Reporting Standards 7 and 9 (OJ L 12, 16.1.2020, p. 5).

4

---

ANNEX

Interest Rate Benchmark Reform – Phase 2

Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16

Amendments to IFRS 9 Financial Instruments

Paragraphs 5.4.5–5.4.9, paragraphs 6.8.13, 6.9.1–6.9.13, paragraphs 7.1.9 and 7.2.43–7.2.46 are added. A heading is added before paragraph 6.9.1 and subheadings are added before paragraphs 5.4.5, 6.9.7, 6.9.9, 6.9.11 and 7.2.43.

5.4   AMORTISED COST MEASUREMENT

...

Changes in the basis for determining the contractual cash flows as a result of interest rate benchmark reform

| 5.4.5 | An entity shall apply paragraphs 5.4.6–5.4.9 to a financial asset or financial liability if, and only if, the basis for determining the contractual cash flows of that financial asset or financial liability changes as a result of interest rate benchmark reform. For this purpose, the term ‘interest rate benchmark reform’ refers to the market-wide reform of an interest rate benchmark as described in paragraph 6.8.2. |
| --- | --- |

5.4.5

| 5.4.6 | The basis for determining the contractual cash flows of a financial asset or financial liability can change:






  (a) | by amending the contractual terms specified at the initial recognition of the financial instrument (for example, the contractual terms are amended to replace the referenced interest rate benchmark with an alternative benchmark rate); |
| --- | --- | --- |

5.4.6

(a)

by amending the contractual terms specified at the initial recognition of the financial instrument (for example, the contractual terms are amended to replace the referenced interest rate benchmark with an alternative benchmark rate);

| (b) | in a way that was not considered by – or contemplated in – the contractual terms at the initial recognition of the financial instrument, without amending the contractual terms (for example, the method for calculating the interest rate benchmark is altered without amending the contractual terms); and/or |
| --- | --- |

(b)

in a way that was not considered by – or contemplated in – the contractual terms at the initial recognition of the financial instrument, without amending the contractual terms (for example, the method for calculating the interest rate benchmark is altered without amending the contractual terms); and/or

| (c) | because of the activation of an existing contractual term (for example, an existing fallback clause is triggered). |
| --- | --- |

(c)

because of the activation of an existing contractual term (for example, an existing fallback clause is triggered).

| 5.4.7 | As a practical expedient, an entity shall apply paragraph B5.4.5 to account for a change in the basis for determining the contractual cash flows of a financial asset or financial liability that is required by interest rate benchmark reform. This practical expedient applies only to such changes and only to the extent the change is required by interest rate benchmark reform (see also paragraph 5.4.9). For this purpose, a change in the basis for determining the contractual cash flows is required by interest rate benchmark reform if, and only if, both these conditions are met:






  (a) | the change is necessary as a direct consequence of interest rate benchmark reform; and |
| --- | --- | --- |

5.4.7

(a)

the change is necessary as a direct consequence of interest rate benchmark reform; and

| (b) | the new basis for determining the contractual cash flows is economically equivalent to the previous basis (i.e. the basis immediately preceding the change). |
| --- | --- |

(b)

the new basis for determining the contractual cash flows is economically equivalent to the previous basis (i.e. the basis immediately preceding the change).

| 5.4.8 | Examples of changes that give rise to a new basis for determining the contractual cash flows that is economically equivalent to the previous basis (i.e. the basis immediately preceding the change) are:






  (a) | the replacement of an existing interest rate benchmark used to determine the contractual cash flows of a financial asset or financial liability with an alternative benchmark rate – or the implementation of such a reform of an interest rate benchmark by altering the method used to calculate the interest rate benchmark – with the addition of a fixed spread necessary to compensate for the basis difference between the existing interest rate benchmark and the alternative benchmark rate; |
| --- | --- | --- |

5.4.8

(a)

the replacement of an existing interest rate benchmark used to determine the contractual cash flows of a financial asset or financial liability with an alternative benchmark rate – or the implementation of such a reform of an interest rate benchmark by altering the method used to calculate the interest rate benchmark – with the addition of a fixed spread necessary to compensate for the basis difference between the existing interest rate benchmark and the alternative benchmark rate;

| (b) | changes to the reset period, reset dates or the number of days between coupon payment dates in order to implement the reform of an interest rate benchmark; and |
| --- | --- |

(b)

changes to the reset period, reset dates or the number of days between coupon payment dates in order to implement the reform of an interest rate benchmark; and

| (c) | the addition of a fallback provision to the contractual terms of a financial asset or financial liability to enable any change described in (a) and (b) above to be implemented. |
| --- | --- |

(c)

the addition of a fallback provision to the contractual terms of a financial asset or financial liability to enable any change described in (a) and (b) above to be implemented.

| 5.4.9 | If changes are made to a financial asset or financial liability in addition to changes to the basis for determining the contractual cash flows required by interest rate benchmark reform, an entity shall first apply the practical expedient in paragraph 5.4.7 to the changes required by interest rate benchmark reform. The entity shall then apply the applicable requirements in this Standard to any additional changes to which the practical expedient does not apply. If the additional change does not result in the derecognition of the financial asset or financial liability, the entity shall apply paragraph 5.4.3 or paragraph B5.4.6, as applicable, to account for that additional change. If the additional change results in the derecognition of the financial asset or financial liability, the entity shall apply the derecognition requirements.
  ... |
| --- | --- |

5.4.9

...

6.8   TEMPORARY EXCEPTIONS FROM APPLYING SPECIFIC HEDGE ACCOUNTING REQUIREMENTS

End of application

...

| 6.8.13 | An entity shall prospectively cease applying paragraphs 6.8.7 and 6.8.8 at the earlier of:






  (a) | when changes required by interest rate benchmark reform are made to the non-contractually specified risk component applying paragraph 6.9.1; or |
| --- | --- | --- |

6.8.13

(a)

when changes required by interest rate benchmark reform are made to the non-contractually specified risk component applying paragraph 6.9.1; or

| (b) | when the hedging relationship in which the non-contractually specified risk component is designated is discontinued. |
| --- | --- |

(b)

when the hedging relationship in which the non-contractually specified risk component is designated is discontinued.

6.9   ADDITIONAL TEMPORARY EXCEPTIONS ARISING FROM INTEREST RATE BENCHMARK REFORM

| 6.9.1 | As and when the requirements in paragraphs 6.8.4–6.8.8 cease to apply to a hedging relationship (see paragraphs 6.8.9–6.8.13), an entity shall amend the formal designation of that hedging relationship as previously documented to reflect the changes required by interest rate benchmark reform, ie the changes are consistent with the requirements in paragraphs 5.4.6–5.4.8. In this context, the hedge designation shall be amended only to make one or more of these changes:






  (a) | designating an alternative benchmark rate (contractually or non-contractually specified) as a hedged risk; |
| --- | --- | --- |

6.9.1

(a)

designating an alternative benchmark rate (contractually or non-contractually specified) as a hedged risk;

| (b) | amending the description of the hedged item, including the description of the designated portion of the cash flows or fair value being hedged; or |
| --- | --- |

(b)

amending the description of the hedged item, including the description of the designated portion of the cash flows or fair value being hedged; or

| (c) | amending the description of the hedging instrument. |
| --- | --- |

(c)

amending the description of the hedging instrument.

| 6.9.2 | An entity also shall apply the requirement in paragraph 6.9.1(c) if these three conditions are met:






  (a) | the entity makes a change required by interest rate benchmark reform using an approach other than changing the basis for determining the contractual cash flows of the hedging instrument (as described in paragraph 5.4.6); |
| --- | --- | --- |

6.9.2

(a)

the entity makes a change required by interest rate benchmark reform using an approach other than changing the basis for determining the contractual cash flows of the hedging instrument (as described in paragraph 5.4.6);

| (b) | the original hedging instrument is not derecognised; and |
| --- | --- |

(b)

the original hedging instrument is not derecognised; and

| (c) | the chosen approach is economically equivalent to changing the basis for determining the contractual cash flows of the original hedging instrument (as described in paragraphs 5.4.7 and 5.4.8). |
| --- | --- |

(c)

the chosen approach is economically equivalent to changing the basis for determining the contractual cash flows of the original hedging instrument (as described in paragraphs 5.4.7 and 5.4.8).

| 6.9.3 | The requirements in paragraphs 6.8.4–6.8.8 may cease to apply at different times. Therefore, in applying paragraph 6.9.1, an entity may be required to amend the formal designation of its hedging relationships at different times, or may be required to amend the formal designation of a hedging relationship more than once. When, and only when, such a change is made to the hedge designation, an entity shall apply paragraphs 6.9.7–6.9.12 as applicable. An entity also shall apply paragraph 6.5.8 (for a fair value hedge) or paragraph 6.5.11 (for a cash flow hedge) to account for any changes in the fair value of the hedged item or the hedging instrument. |
| --- | --- |

6.9.3

| 6.9.4 | An entity shall amend a hedging relationship as required in paragraph 6.9.1 by the end of the reporting period during which a change required by interest rate benchmark reform is made to the hedged risk, hedged item or hedging instrument. For the avoidance of doubt, such an amendment to the formal designation of a hedging relationship constitutes neither the discontinuation of the hedging relationship nor the designation of a new hedging relationship. |
| --- | --- |

6.9.4

| 6.9.5 | If changes are made in addition to those changes required by interest rate benchmark reform to the financial asset or financial liability designated in a hedging relationship (as described in paragraphs 5.4.6–5.4.8) or to the designation of the hedging relationship (as required by paragraph 6.9.1), an entity shall first apply the applicable requirements in this Standard to determine if those additional changes result in the discontinuation of hedge accounting. If the additional changes do not result in the discontinuation of hedge accounting, an entity shall amend the formal designation of the hedging relationship as specified in paragraph 6.9.1. |
| --- | --- |

6.9.5

| 6.9.6 | Paragraphs 6.9.7–6.9.13 provide exceptions to the requirements specified in those paragraphs only. An entity shall apply all other hedge accounting requirements in this Standard, including the qualifying criteria in paragraph 6.4.1, to hedging relationships that were directly affected by interest rate benchmark reform. |
| --- | --- |

6.9.6

Accounting for qualifying hedging relationships

Cash flow hedges

| 6.9.7 | For the purpose of applying paragraph 6.5.11, at the point when an entity amends the description of a hedged item as required in paragraph 6.9.1(b), the amount accumulated in the cash flow hedge reserve shall be deemed to be based on the alternative benchmark rate on which the hedged future cash flows are determined. |
| --- | --- |

6.9.7

| 6.9.8 | For a discontinued hedging relationship, when the interest rate benchmark on which the hedged future cash flows had been based is changed as required by interest rate benchmark reform, for the purpose of applying paragraph 6.5.12 in order to determine whether the hedged future cash flows are expected to occur, the amount accumulated in the cash flow hedge reserve for that hedging relationship shall be deemed to be based on the alternative benchmark rate on which the hedged future cash flows will be based. |
| --- | --- |

6.9.8

Groups of items

| 6.9.9 | When an entity applies paragraph 6.9.1 to groups of items designated as hedged items in a fair value or cash flow hedge, the entity shall allocate the hedged items to subgroups based on the benchmark rate being hedged and designate the benchmark rate as the hedged risk for each subgroup. For example, in a hedging relationship in which a group of items is hedged for changes in an interest rate benchmark subject to interest rate benchmark reform, the hedged cash flows or fair value of some items in the group could be changed to reference an alternative benchmark rate before other items in the group are changed. In this example, in applying paragraph 6.9.1, the entity would designate the alternative benchmark rate as the hedged risk for that relevant subgroup of hedged items. The entity would continue to designate the existing interest rate benchmark as the hedged risk for the other subgroup of hedged items until the hedged cash flows or fair value of those items are changed to reference the alternative benchmark rate or the items expire and are replaced with hedged items that reference the alternative benchmark rate. |
| --- | --- |

6.9.9

| 6.9.10 | An entity shall assess separately whether each subgroup meets the requirements in paragraph 6.6.1 to be an eligible hedged item. If any subgroup fails to meet the requirements in paragraph 6.6.1, the entity shall discontinue hedge accounting prospectively for the hedging relationship in its entirety. An entity also shall apply the requirements in paragraphs 6.5.8 and 6.5.11 to account for ineffectiveness related to the hedging relationship in its entirety. |
| --- | --- |

6.9.10

Designation of risk components

| 6.9.11 | An alternative benchmark rate designated as a non-contractually specified risk component that is not separately identifiable (see paragraphs 6.3.7(a) and B6.3.8) at the date it is designated shall be deemed to have met that requirement at that date, if, and only if, the entity reasonably expects the alternative benchmark rate will be separately identifiable within 24 months. The 24-month period applies to each alternative benchmark rate separately and starts from the date the entity designates the alternative benchmark rate as a non-contractually specified risk component for the first time (i.e. the 24-month period applies on a rate-by-rate basis). |
| --- | --- |

6.9.11

| 6.9.12 | If subsequently an entity reasonably expects that the alternative benchmark rate will not be separately identifiable within 24 months from the date the entity designated it as a non-contractually specified risk component for the first time, the entity shall cease applying the requirement in paragraph 6.9.11 to that alternative benchmark rate and discontinue hedge accounting prospectively from the date of that reassessment for all hedging relationships in which the alternative benchmark rate was designated as a non-contractually specified risk component. |
| --- | --- |

6.9.12

| 6.9.13 | In addition to those hedging relationships specified in paragraph 6.9.1, an entity shall apply the requirements in paragraphs 6.9.11 and 6.9.12 to new hedging relationships in which an alternative benchmark rate is designated as a non-contractually specified risk component (see paragraphs 6.3.7(a) and B6.3.8) when, because of interest rate benchmark reform, that risk component is not separately identifiable at the date it is designated. |
| --- | --- |

6.9.13

7.1   EFFECTIVE DATE

...

| 7.1.9 | Interest Rate Benchmark Reform – Phase 2, which amended IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, issued in August 2020, added paragraphs 5.4.5–5.4.9, 6.8.13, Section 6.9 and paragraphs 7.2.43–7.2.46. An entity shall apply these amendments for annual periods beginning on or after 1 January 2021. Earlier application is permitted. If an entity applies these amendments for an earlier period, it shall disclose that fact. |
| --- | --- |

7.1.9

7.2   TRANSITION

...

Transition for Interest Rate Benchmark Reform – Phase 2

| 7.2.43 | An entity shall apply Interest Rate Benchmark Reform – Phase 2 retrospectively in accordance with IAS 8, except as specified in paragraphs 7.2.44–7.2.46. |
| --- | --- |

7.2.43

| 7.2.44 | An entity shall designate a new hedging relationship (for example, as described in paragraph 6.9.13) only prospectively (i.e. an entity is prohibited from designating a new hedge accounting relationship in prior periods). However, an entity shall reinstate a discontinued hedging relationship if, and only if, these conditions are met:






  (a) | the entity had discontinued that hedging relationship solely due to changes required by interest rate benchmark reform and the entity would not have been required to discontinue that hedging relationship if these amendments had been applied at that time; and |
| --- | --- | --- |

7.2.44

(a)

the entity had discontinued that hedging relationship solely due to changes required by interest rate benchmark reform and the entity would not have been required to discontinue that hedging relationship if these amendments had been applied at that time; and

| (b) | at the beginning of the reporting period in which an entity first applies these amendments (date of initial application of these amendments), that discontinued hedging relationship meets the qualifying criteria for hedge accounting (after taking into account these amendments). |
| --- | --- |

(b)

at the beginning of the reporting period in which an entity first applies these amendments (date of initial application of these amendments), that discontinued hedging relationship meets the qualifying criteria for hedge accounting (after taking into account these amendments).

| 7.2.45 | If, in applying paragraph 7.2.44, an entity reinstates a discontinued hedging relationship, the entity shall read references in paragraphs 6.9.11 and 6.9.12 to the date the alternative benchmark rate is designated as a non-contractually specified risk component for the first time as referring to the date of initial application of these amendments (i.e. the 24-month period for that alternative benchmark rate designated as a non-contractually specified risk component begins from the date of initial application of these amendments). |
| --- | --- |

7.2.45

| 7.2.46 | An entity is not required to restate prior periods to reflect the application of these amendments. The entity may restate prior periods if, and only if, it is possible without the use of hindsight. If an entity does not restate prior periods, the entity shall recognise any difference between the previous carrying amount and the carrying amount at the beginning of the annual reporting period that includes the date of initial application of these amendments in the opening retained earnings (or other component of equity, as appropriate) of the annual reporting period that includes the date of initial application of these amendments. |
| --- | --- |

7.2.46

Amendments to IAS 39 Financial Instruments: Recognition and Measurement

Paragraph 102M is amended.

Paragraphs 102O–102Z3 and 108H–108K are added. A heading is added before paragraph 102P and subheadings are added before paragraphs 102P, 102V, 102Y and 102Z1.

Temporary exceptions from applying specific hedge accounting requirements

...

End of application

| 102M | An entity shall prospectively cease applying paragraph 102G to a hedging relationship at the earlier of:






  (a) | when the uncertainty arising from interest rate benchmark reform is no longer present with respect to the hedged risk and the timing and the amount of the interest rate benchmark-based cash flows of the hedged item and of the hedging instrument; and |
| --- | --- | --- |

102M

(a)

when the uncertainty arising from interest rate benchmark reform is no longer present with respect to the hedged risk and the timing and the amount of the interest rate benchmark-based cash flows of the hedged item and of the hedging instrument; and

| (b) | when the hedging relationship to which the exception is applied is discontinued. |
| --- | --- |

(b)

when the hedging relationship to which the exception is applied is discontinued.

...

| 102O | An entity shall prospectively cease applying paragraphs 102H and 102I at the earlier of:






  (a) | when changes required by interest rate benchmark reform are made to the non-contractually specified risk portion applying paragraph 102P; or |
| --- | --- | --- |

102O

(a)

when changes required by interest rate benchmark reform are made to the non-contractually specified risk portion applying paragraph 102P; or

| (b) | when the hedging relationship in which the non-contractually specified risk portion is designated is discontinued. |
| --- | --- |

(b)

when the hedging relationship in which the non-contractually specified risk portion is designated is discontinued.

Additional temporary exceptions arising from interest rate benchmark reform

Hedge accounting

| 102P | As and when the requirements in paragraphs 102D–102I cease to apply to a hedging relationship (see paragraphs 102J–102O), an entity shall amend the formal designation of that hedging relationship as previously documented to reflect the changes required by interest rate benchmark reform, ie the changes are consistent with the requirements in paragraphs 5.4.6–5.4.8 of IFRS 9. In this context, the hedge designation shall be amended only to make one or more of these changes:






  (a) | designating an alternative benchmark rate (contractually or non-contractually specified) as a hedged risk; |
| --- | --- | --- |

102P

(a)

designating an alternative benchmark rate (contractually or non-contractually specified) as a hedged risk;

| (b) | amending the description of the hedged item, including the description of the designated portion of the cash flows or fair value being hedged; |
| --- | --- |

(b)

amending the description of the hedged item, including the description of the designated portion of the cash flows or fair value being hedged;

| (c) | amending the description of the hedging instrument; or |
| --- | --- |

(c)

amending the description of the hedging instrument; or

| (d) | amending the description of how the entity will assess hedge effectiveness. |
| --- | --- |

(d)

amending the description of how the entity will assess hedge effectiveness.

| 102Q | An entity also shall apply the requirement in paragraph 102P(c) if these three conditions are met:






  (a) | the entity makes a change required by interest rate benchmark reform using an approach other than changing the basis for determining the contractual cash flows of the hedging instrument (as described in paragraph 5.4.6 of IFRS 9); |
| --- | --- | --- |

102Q

(a)

the entity makes a change required by interest rate benchmark reform using an approach other than changing the basis for determining the contractual cash flows of the hedging instrument (as described in paragraph 5.4.6 of IFRS 9);

| (b) | the original hedging instrument is not derecognised; and |
| --- | --- |

(b)

the original hedging instrument is not derecognised; and

| (c) | the chosen approach is economically equivalent to changing the basis for determining the contractual cash flows of the original hedging instrument (as described in paragraphs 5.4.7 and 5.4.8 of IFRS 9). |
| --- | --- |

(c)

the chosen approach is economically equivalent to changing the basis for determining the contractual cash flows of the original hedging instrument (as described in paragraphs 5.4.7 and 5.4.8 of IFRS 9).

| 102R | The requirements in paragraphs 102D–102I may cease to apply at different times. Therefore, applying paragraph 102P, an entity may be required to amend the formal designation of its hedging relationships at different times, or may be required to amend the formal designation of a hedging relationship more than once. When, and only when, such a change is made to the hedge designation, an entity shall apply paragraphs 102V–102Z2 as applicable. An entity also shall apply paragraph 89 (for a fair value hedge) or paragraph 96 (for a cash flow hedge) to account for any changes in the fair value of the hedged item or the hedging instrument. |
| --- | --- |

102R

| 102S | An entity shall amend a hedging relationship as required in paragraph 102P by the end of the reporting period during which a change required by interest rate benchmark reform is made to the hedged risk, hedged item or hedging instrument. For the avoidance of doubt, such an amendment to the formal designation of a hedging relationship constitutes neither the discontinuation of the hedging relationship nor the designation of a new hedging relationship. |
| --- | --- |

102S

| 102T | If changes are made in addition to those changes required by interest rate benchmark reform to the financial asset or financial liability designated in a hedging relationship (as described in paragraphs 5.4.6–5.4.8 of IFRS 9) or to the designation of the hedging relationship (as required by paragraph 102P), an entity shall first apply the applicable requirements in this Standard to determine if those additional changes result in the discontinuation of hedge accounting. If the additional changes do not result in the discontinuation of hedge accounting, an entity shall amend the formal designation of the hedging relationship as specified in paragraph 102P. |
| --- | --- |

102T

| 102U | Paragraphs 102V–102Z3 provide exceptions to the requirements specified in those paragraphs only. An entity shall apply all other hedge accounting requirements in this Standard, including the qualifying criteria in paragraph 88, to hedging relationships that were directly affected by interest rate benchmark reform. |
| --- | --- |

102U

Accounting for qualifying hedging relationships

Retrospective effectiveness assessment

| 102V | For the purpose of assessing the retrospective effectiveness of a hedging relationship on a cumulative basis applying paragraph 88(e) and only for this purpose, an entity may elect to reset to zero the cumulative fair value changes of the hedged item and hedging instrument when ceasing to apply paragraph 102G as required by paragraph 102M. This election is made separately for each hedging relationship (i.e. on an individual hedging relationship basis). |
| --- | --- |

102V

Cash flow hedges

| 102W | For the purpose of applying paragraph 97, at the point when an entity amends the description of a hedged item as required in paragraph 102P(b), the cumulative gain or loss in other comprehensive income shall be deemed to be based on the alternative benchmark rate on which the hedged future cash flows are determined. |
| --- | --- |

102W

| 102X | For a discontinued hedging relationship, when the interest rate benchmark on which the hedged future cash flows had been based is changed as required by interest rate benchmark reform, for the purpose of applying paragraph 101(c) in order to determine whether the hedged future cash flows are expected to occur, the amount accumulated in other comprehensive income for that hedging relationship shall be deemed to be based on the alternative benchmark rate on which the hedged future cash flows will be based. |
| --- | --- |

102X

Groups of items

| 102Y | When an entity applies paragraph 102P to groups of items designated as hedged items in a fair value or cash flow hedge, the entity shall allocate the hedged items to subgroups based on the benchmark rate being hedged and designate the benchmark rate as the hedged risk for each subgroup. For example, in a hedging relationship in which a group of items is hedged for changes in an interest rate benchmark subject to interest rate benchmark reform, the hedged cash flows or fair value of some items in the group could be changed to reference an alternative benchmark rate before other items in the group are changed. In this example, in applying paragraph 102P, the entity would designate the alternative benchmark rate as the hedged risk for that relevant subgroup of hedged items. The entity would continue to designate the existing interest rate benchmark as the hedged risk for the other subgroup of hedged items until the hedged cash flows or fair value of those items are changed to reference the alternative benchmark rate or the items expire and are replaced with hedged items that reference the alternative benchmark rate. |
| --- | --- |

102Y

| 102Z | An entity shall assess separately whether each subgroup meets the requirements in paragraphs 78 and 83 to be an eligible hedged item. If any subgroup fails to meet the requirements in paragraphs 78 and 83, the entity shall discontinue hedge accounting prospectively for the hedging relationship in its entirety. An entity also shall apply the requirements in paragraphs 89 or 96 to account for ineffectiveness related to the hedging relationship in its entirety. |
| --- | --- |

102Z

Designating financial items as hedged items

| 102Z1 | An alternative benchmark rate designated as a non-contractually specified risk portion that is not separately identifiable (see paragraphs 81 and AG99F) at the date it is designated shall be deemed to have met that requirement at that date, if, and only if, the entity reasonably expects the alternative benchmark rate will be separately identifiable within 24 months. The 24-month period applies to each alternative benchmark rate separately and starts from the date the entity designates the alternative benchmark rate as a non-contractually specified risk portion for the first time (i.e. the 24-month period applies on a rate-by-rate basis). |
| --- | --- |

102Z1

| 102Z2 | If subsequently an entity reasonably expects that the alternative benchmark rate will not be separately identifiable within 24 months from the date the entity designated it as a non-contractually specified risk portion for the first time, the entity shall cease applying the requirement in paragraph 102Z1 to that alternative benchmark rate and discontinue hedge accounting prospectively from the date of that reassessment for all hedging relationships in which the alternative benchmark rate was designated as a non-contractually specified risk portion. |
| --- | --- |

102Z2

| 102Z3 | In addition to those hedging relationships specified in paragraph 102P, an entity shall apply the requirements in paragraphs 102Z1 and 102Z2 to new hedging relationships in which an alternative benchmark rate is designated as a non-contractually specified risk portion (see paragraphs 81 and AG99F) when, because of interest rate benchmark reform, that risk portion is not separately identifiable at the date it is designated. |
| --- | --- |

102Z3

EFFECTIVE DATE AND TRANSITION

...

| 108H | Interest Rate Benchmark Reform – Phase 2, which amended IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, issued in August 2020, added paragraphs 102O–102Z3 and 108I–108K, and amended paragraph 102M. An entity shall apply these amendments for annual periods beginning on or after 1 January 2021. Earlier application is permitted. If an entity applies these amendments for an earlier period, it shall disclose that fact. An entity shall apply these amendments retrospectively in accordance with IAS 8, except as specified in paragraphs 108I–108K. |
| --- | --- |

108H

| 108I | An entity shall designate a new hedging relationship (for example, as described in paragraph 102Z3) only prospectively (i.e. an entity is prohibited from designating a new hedge accounting relationship in prior periods). However, an entity shall reinstate a discontinued hedging relationship if, and only if, these conditions are met:






  (a) | the entity had discontinued that hedging relationship solely due to changes required by interest rate benchmark reform and the entity would not have been required to discontinue that hedging relationship if these amendments had been applied at that time; and |
| --- | --- | --- |

108I

(a)

the entity had discontinued that hedging relationship solely due to changes required by interest rate benchmark reform and the entity would not have been required to discontinue that hedging relationship if these amendments had been applied at that time; and

| (b) | at the beginning of the reporting period in which an entity first applies these amendments (date of initial application of these amendments), that discontinued hedging relationship meets the qualifying criteria for hedge accounting (after taking into account these amendments). |
| --- | --- |

(b)

at the beginning of the reporting period in which an entity first applies these amendments (date of initial application of these amendments), that discontinued hedging relationship meets the qualifying criteria for hedge accounting (after taking into account these amendments).

| 108J | If, in applying paragraph 108I, an entity reinstates a discontinued hedging relationship, the entity shall read references in paragraphs 102Z1 and 102Z2 to the date the alternative benchmark rate is designated as a non-contractually specified risk portion for the first time as referring to the date of initial application of these amendments (i.e. the 24-month period for that alternative benchmark rate designated as a non-contractually specified risk portion begins from the date of initial application of these amendments). |
| --- | --- |

108J

| 108K | An entity is not required to restate prior periods to reflect the application of these amendments. The entity may restate prior periods if, and only if, it is possible without the use of hindsight. If an entity does not restate prior periods, the entity shall recognise any difference between the previous carrying amount and the carrying amount at the beginning of the annual reporting period that includes the date of initial application of these amendments in the opening retained earnings (or other component of equity, as appropriate) of the annual reporting period that includes the date of initial application of these amendments. |
| --- | --- |

108K

Amendments to IFRS 7 Financial Instruments: Disclosures

Paragraphs 24I–24J and 44GG–44HH are added and a subheading is added before paragraph 24I.

Other disclosures

...

Additional disclosures related to interest rate benchmark reform

| 24I | To enable users of financial statements to understand the effect of interest rate benchmark reform on an entity’s financial instruments and risk management strategy, an entity shall disclose information about:






  (a) | the nature and extent of risks to which the entity is exposed arising from financial instruments subject to interest rate benchmark reform, and how the entity manages these risks; and |
| --- | --- | --- |

24I

(a)

the nature and extent of risks to which the entity is exposed arising from financial instruments subject to interest rate benchmark reform, and how the entity manages these risks; and

| (b) | the entity’s progress in completing the transition to alternative benchmark rates, and how the entity is managing the transition. |
| --- | --- |

(b)

the entity’s progress in completing the transition to alternative benchmark rates, and how the entity is managing the transition.

| 24J | To meet the objectives in paragraph 24I, an entity shall disclose:






  (a) | how the entity is managing the transition to alternative benchmark rates, its progress at the reporting date and the risks to which it is exposed arising from financial instruments because of the transition; |
| --- | --- | --- |

24J

(a)

how the entity is managing the transition to alternative benchmark rates, its progress at the reporting date and the risks to which it is exposed arising from financial instruments because of the transition;

| (b) | disaggregated by significant interest rate benchmark subject to interest rate benchmark reform, quantitative information about financial instruments that have yet to transition to an alternative benchmark rate as at the end of the reporting period, showing separately:






  (i) | non-derivative financial assets; |
| --- | --- | --- |

(b)

disaggregated by significant interest rate benchmark subject to interest rate benchmark reform, quantitative information about financial instruments that have yet to transition to an alternative benchmark rate as at the end of the reporting period, showing separately:

(i)

non-derivative financial assets;

| (ii) | non-derivative financial liabilities; and |
| --- | --- |

(ii)

non-derivative financial liabilities; and

| (iii) | derivatives; and |
| --- | --- |

(iii)

derivatives; and

| (c) | if the risks identified in paragraph 24J(a) have resulted in changes to an entity’s risk management strategy (see paragraph 22A), a description of these changes. |
| --- | --- |

(c)

if the risks identified in paragraph 24J(a) have resulted in changes to an entity’s risk management strategy (see paragraph 22A), a description of these changes.

...

EFFECTIVE DATE AND TRANSITION

...

| 44GG | Interest Rate Benchmark Reform – Phase 2, which amended IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, issued in August 2020, added paragraphs 24I–24J and 44HH. An entity shall apply these amendments when it applies the amendments to IFRS 9, IAS 39, IFRS 4 or IFRS 16. |
| --- | --- |

44GG

| 44HH | In the reporting period in which an entity first applies Interest Rate Benchmark Reform – Phase 2, an entity is not required to disclose the information that would otherwise be required by paragraph 28(f) of IAS 8. |
| --- | --- |

44HH

Amendments to IFRS 4 Insurance Contracts

Paragraphs 20R–20S and paragraphs 50–51 are added. A subheading is added before paragraph 20R.

RECOGNITION AND MEASUREMENT

...

Changes in the basis for determining the contractual cash flows as a result of interest rate benchmark reform

| 20R | An insurer applying the temporary exemption from IFRS 9 shall apply the requirements in paragraphs 5.4.6–5.4.9 of IFRS 9 to a financial asset or financial liability if, and only if, the basis for determining the contractual cash flows of that financial asset or financial liability changes as a result of interest rate benchmark reform. For this purpose, the term ‘interest rate benchmark reform’ refers to the market-wide reform of an interest rate benchmark as described in paragraph 102B of IAS 39. |
| --- | --- |

20R

| 20S | For the purpose of applying paragraphs 5.4.6–5.4.9 of the amendments to IFRS 9, the references to paragraph B5.4.5 of IFRS 9 shall be read as referring to paragraph AG7 of IAS 39. References to paragraphs 5.4.3 and B5.4.6 of IFRS 9 shall be read as referring to paragraph AG8 of IAS 39.
  ... |
| --- | --- |

20S

...

EFFECTIVE DATE AND TRANSITION

...

| 50 | Interest Rate Benchmark Reform – Phase 2, which amended IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, issued in August 2020, added paragraphs 20R–20S and paragraph 51. An entity shall apply these amendments for annual periods beginning on or after 1 January 2021. Earlier application is permitted. If an entity applies these amendments for an earlier period, it shall disclose that fact. An entity shall apply these amendments retrospectively in accordance with IAS 8, except as specified in paragraph 51. |
| --- | --- |

50

| 51 | An entity is not required to restate prior periods to reflect the application of these amendments. The entity may restate prior periods if, and only if, it is possible without the use of hindsight. If an entity does not restate prior periods, the entity shall recognise any difference between the previous carrying amount and the carrying amount at the beginning of the annual reporting period that includes the date of initial application of these amendments in the opening retained earnings (or other component of equity, as appropriate) of the annual reporting period that includes the date of initial application of these amendments. |
| --- | --- |

51

Amendments to IFRS 16 Leases

Paragraphs 104–106 and paragraphs C1B and C20C–C20D are added. A heading is added before paragraph 104 and a subheading is added before paragraph C20C.

TEMPORARY EXCEPTION ARISING FROM INTEREST RATE BENCHMARK REFORM

| 104 | A lessee shall apply paragraphs 105–106 to all lease modifications that change the basis for determining future lease payments as a result of interest rate benchmark reform (see paragraphs 5.4.6 and 5.4.8 of IFRS 9). These paragraphs apply only to such lease modifications. For this purpose, the term ‘interest rate benchmark reform’ refers to the market-wide reform of an interest rate benchmark as described in paragraph 6.8.2 of IFRS 9. |
| --- | --- |

104

| 105 | As a practical expedient, a lessee shall apply paragraph 42 to account for a lease modification required by interest rate benchmark reform. This practical expedient applies only to such modifications. For this purpose, a lease modification is required by interest rate benchmark reform if, and only if, both of these conditions are met:






  (a) | the modification is necessary as a direct consequence of interest rate benchmark reform; and |
| --- | --- | --- |

105

(a)

the modification is necessary as a direct consequence of interest rate benchmark reform; and

| (b) | the new basis for determining the lease payments is economically equivalent to the previous basis (i.e. the basis immediately preceding the modification). |
| --- | --- |

(b)

the new basis for determining the lease payments is economically equivalent to the previous basis (i.e. the basis immediately preceding the modification).

| 106 | However, if lease modifications are made in addition to those lease modifications required by interest rate benchmark reform, a lessee shall apply the applicable requirements in this Standard to account for all lease modifications made at the same time, including those required by interest rate benchmark reform.
  ... |
| --- | --- |

106

...

EFFECTIVE DATE

...

| C1B | Interest Rate Benchmark Reform – Phase 2, which amended IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, issued in August 2020, added paragraphs 104–106 and C20C–C20D. An entity shall apply these amendments for annual reporting periods beginning on or after 1 January 2021. Earlier application is permitted. If an entity applies these amendments for an earlier period, it shall disclose that fact. |
| --- | --- |

C1B

TRANSITION

...

Interest Rate Benchmark Reform – Phase 2

| C20C | An entity shall apply these amendments retrospectively in accordance with IAS 8, except as specified in paragraph C20D. |
| --- | --- |

C20C

| C20D | An entity is not required to restate prior periods to reflect the application of these amendments. The entity may restate prior periods if, and only if, it is possible without the use of hindsight. If an entity does not restate prior periods, the entity shall recognise any difference between the previous carrying amount and the carrying amount at the beginning of the annual reporting period that includes the date of initial application of these amendments in the opening retained earnings (or other component of equity, as appropriate) of the annual reporting period that includes the date of initial application of these amendments. |
| --- | --- |

C20D

---

DECISIONS

| 14.1.2021 | EN | Official Journal of the European Union | L 11/19 |
| --- | --- | --- | --- |

14.1.2021

EN

Official Journal of the European Union

L 11/19

---

COUNCIL DECISION (EU) 2021/26

of 12 January 2021

further extending the temporary derogation from the Council’s Rules of Procedure introduced by Decision (EU) 2020/430, and extended by Decisions (EU) 2020/556, (EU) 2020/702, (EU) 2020/970, (EU) 2020/1253 and (EU) 2020/1659, in view of the travel difficulties caused by the COVID-19 pandemic in the Union

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 240(3) thereof,

Whereas:

| (1) | Council Decision (EU) 2020/430 (1) introduced a one-month derogation from the first subparagraph of Article 12(1) of the Council’s Rules of Procedure (2) as regards decisions to use the ordinary written procedure, where those decisions are taken by the Committee of the Permanent Representatives of the Governments of the Member States (Coreper). That derogation was foreseen until 23 April 2020. |
| --- | --- |

(1)

Council Decision (EU) 2020/430 (1) introduced a one-month derogation from the first subparagraph of Article 12(1) of the Council’s Rules of Procedure (2) as regards decisions to use the ordinary written procedure, where those decisions are taken by the Committee of the Permanent Representatives of the Governments of the Member States (Coreper). That derogation was foreseen until 23 April 2020.

| (2) | Decision (EU) 2020/430 provides that, if justified by continued exceptional circumstances, the Council may renew that Decision. On 21 April 2020, the Council, by Decision (EU) 2020/556 (3), extended the derogation provided for in Article 1 of Decision (EU) 2020/430 for a further period of one month from 23 April 2020. That extension of the derogation was foreseen until 23 May 2020. On 20 May 2020, the Council, by Decision (EU) 2020/702 (4), extended the derogation provided for in Article 1 of Decision (EU) 2020/430 until 10 July 2020. On 3 July 2020, the Council, by Decision (EU) 2020/970 (5), extended that derogation until 10 September 2020. On 4 September 2020, the Council, by Decision (EU) 2020/1253 (6), extended that derogation until 10 November 2020. On 6 November 2020, the Council, by Decision (EU) 2020/1659 (7), extended that derogation until 15 January 2021. |
| --- | --- |

(2)

Decision (EU) 2020/430 provides that, if justified by continued exceptional circumstances, the Council may renew that Decision. On 21 April 2020, the Council, by Decision (EU) 2020/556 (3), extended the derogation provided for in Article 1 of Decision (EU) 2020/430 for a further period of one month from 23 April 2020. That extension of the derogation was foreseen until 23 May 2020. On 20 May 2020, the Council, by Decision (EU) 2020/702 (4), extended the derogation provided for in Article 1 of Decision (EU) 2020/430 until 10 July 2020. On 3 July 2020, the Council, by Decision (EU) 2020/970 (5), extended that derogation until 10 September 2020. On 4 September 2020, the Council, by Decision (EU) 2020/1253 (6), extended that derogation until 10 November 2020. On 6 November 2020, the Council, by Decision (EU) 2020/1659 (7), extended that derogation until 15 January 2021.

| (3) | Given that the exceptional circumstances caused by the COVID-19 pandemic continue, with a number of extraordinary preventive and containment measures taken by Member States still in place, it is necessary to extend the derogation provided for in Article 1 of Decision (EU) 2020/430, as extended by Decisions (EU) 2020/556, (EU) 2020/702, (EU) 2020/970, (EU) 2020/1253 and (EU) 2020/1659, for a further limited period until 19 March 2021, |
| --- | --- |

(3)

Given that the exceptional circumstances caused by the COVID-19 pandemic continue, with a number of extraordinary preventive and containment measures taken by Member States still in place, it is necessary to extend the derogation provided for in Article 1 of Decision (EU) 2020/430, as extended by Decisions (EU) 2020/556, (EU) 2020/702, (EU) 2020/970, (EU) 2020/1253 and (EU) 2020/1659, for a further limited period until 19 March 2021,

HAS ADOPTED THIS DECISION:

Article 1

The derogation provided for in Article 1 of Decision (EU) 2020/430, as extended by Decisions (EU) 2020/556, (EU) 2020/702, (EU) 2020/970, (EU) 2020/1253 and (EU) 2020/1659, is hereby further extended until 19 March 2021.

Article 2

This Decision shall take effect on the date of its adoption.

It shall be published in the Official Journal of the European Union.

Done at Brussels, 12 January 2021.

For the Council

The President

A. P. ZACARIAS

---

(1)  Council Decision (EU) 2020/430 of 23 March 2020 on a temporary derogation from the Council’s Rules of Procedure in view of the travel difficulties caused by the COVID-19 pandemic in the Union (OJ L 88 I, 24.3.2020, p. 1).

1

(2)  Council Decision 2009/937/EU of 1 December 2009 adopting the Council’s Rules of Procedure (OJ L 325, 11.12.2009, p. 35).

2

(3)  Council Decision (EU) 2020/556 of 21 April 2020 extending the temporary derogation from the Council’s Rules of Procedure introduced by Decision (EU) 2020/430 in view of the travel difficulties caused by the COVID-19 pandemic in the Union (OJ L 128 I, 23.4.2020, p. 1).

3

(4)  Council Decision (EU) 2020/702 of 20 May 2020 further extending the temporary derogation from the Council’s Rules of Procedure introduced by Decision (EU) 2020/430 and extended by Decision (EU) 2020/556 in view of the travel difficulties caused by the COVID-19 pandemic in the Union (OJ L 165, 27.5.2020, p. 38).

4

(5)  Council Decision (EU) 2020/970 of 3 July 2020 further extending the temporary derogation from the Council’s Rules of Procedure introduced by Decision (EU) 2020/430, and extended by Decisions (EU) 2020/556 and (EU) 2020/702, in view of the travel difficulties caused by the COVID-19 pandemic in the Union (OJ L 216, 7.7.2020, p. 1).

5

(6)  Council Decision (EU) 2020/1253 of 4 September 2020 further extending the temporary derogation from the Council’s Rules of Procedure introduced by Decision (EU) 2020/430 and extended by Decisions (EU) 2020/556, (EU) 2020/702 and (EU) 2020/970, in view of the travel difficulties caused by the COVID-19 pandemic in the Union (OJ L 294, 8.9.2020, p. 1).

6

(7)  Council Decision (EU) 2020/1659 of 6 November 2020 further extending the temporary derogation from the Council’s Rules of Procedure introduced by Decision (EU) 2020/430 and extended by Decisions (EU) 2020/556, (EU) 2020/702, (EU) 2020/970 and (EU) 2020/1253, in view of the travel difficulties caused by the COVID-19 pandemic in the Union (OJ L 376, 10.11.2020, p. 3).

7

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Corrigenda

| 14.1.2021 | EN | Official Journal of the European Union | L 11/21 |
| --- | --- | --- | --- |

14.1.2021

EN

Official Journal of the European Union

L 11/21

---

Corrigendum to Commission Implementing Regulation (EU) 2020/1577 of 21 September 2020 amending Annex I to Council Regulation (EEC) No 2658/87 on the tariff and statistical nomenclature and on the Common Customs Tariff

(
  Official Journal of the European Union L 361 of 30 October 2020
  )

On page 221:

for:

| | 2804 70 10 | – – Red phosphorus. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . | 5,5 | — |
| --- | --- | --- | --- | --- |
| | 2804 70 90 | – – Other. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . | 5,5 | — |

2804 70 10

2804 70 10

– – Red phosphorus. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .

5,5

—

2804 70 90

2804 70 90

– – Other. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .

5,5

—

read:

| ★ | 2804 70 10 | – – Red phosphorus. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. | 5,5 | — |
| --- | --- | --- | --- | --- |
| ★ | 2804 70 90 | – – Other. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . | 5,5 | — |

★

★

2804 70 10

2804 70 10

– – Red phosphorus. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ..

5,5

—

★

★

2804 70 90

2804 70 90

– – Other. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .

5,5

—

---