# Official Journal L 5/2015

| | ISSN 1977-0677 |
| --- | --- |
| Official Journal
  of the European Union | L 5 |
| | |
| English edition | Legislation | Volume 589 January 2015 |

ISSN 1977-0677

Official Journal

of the European Union

L 5

English edition

Legislation

Volume 589 January 2015

---

| Contents | | II   Non-legislative acts | page |
| --- | --- | --- | --- |
| | | REGULATIONS |
| | * | Commission Regulation (EU) 2015/28 of 17 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 2, 3 and 8 and International Accounting Standards 16, 24 and 38 (
  1
  ) | 1 |
| | * | Commission Regulation (EU) 2015/29 of 17 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 Accounting Standard 19 (
  1
  ) | 11 |
| | * | Commission Implementing Regulation (EU) 2015/30 of 17 December 2014 entering a name in the register of protected designations of origin and protected geographical indications (Potjesvlees uit de Westhoek (PGI)) | 14 |
| | | Commission Implementing Regulation (EU) 2015/31 of 8 January 2015 establishing the standard import values for determining the entry price of certain fruit and vegetables | 15 |
| | | DECISIONS |
| | * | Decision (EU) 2015/32 of the European Central Bank of 29 December 2014 concerning derogations that may be granted under Regulation (EU) No 1073/2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38) (ECB/2014/62) | 17 |

Contents

II   Non-legislative acts

page

REGULATIONS

*

Commission Regulation (EU) 2015/28 of 17 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 2, 3 and 8 and International Accounting Standards 16, 24 and 38 (
  1
  )

1

1

*

Commission Regulation (EU) 2015/29 of 17 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 Accounting Standard 19 (
  1
  )

1

11

*

Commission Implementing Regulation (EU) 2015/30 of 17 December 2014 entering a name in the register of protected designations of origin and protected geographical indications (Potjesvlees uit de Westhoek (PGI))

14

Commission Implementing Regulation (EU) 2015/31 of 8 January 2015 establishing the standard import values for determining the entry price of certain fruit and vegetables

15

DECISIONS

*

Decision (EU) 2015/32 of the European Central Bank of 29 December 2014 concerning derogations that may be granted under Regulation (EU) No 1073/2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38) (ECB/2014/62)

(ECB/2014/62)

17

| | |
| --- | --- |
| | (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.

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II Non-legislative acts

REGULATIONS

| 9.1.2015 | EN | Official Journal of the European Union | L 5/1 |
| --- | --- | --- | --- |

9.1.2015

EN

Official Journal of the European Union

L 5/1

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COMMISSION REGULATION (EU) 2015/28

of 17 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 2, 3 and 8 and International Accounting Standards 16, 24 and 38

(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 12 December 2013, the International Accounting Standards Board (IASB) published Annual Improvements to International Financial Reporting Standards 2010-2012 Cycle (the annual improvements), in the framework of its regular improvement process which aims at streamlining and clarifying the standards. The objective of the annual improvements is to address non-urgent, but necessary issues discussed by the IASB during the project cycle that began in 2010 on areas of inconsistency in International Financial Reporting Standards or where clarification of wording is required. Amendments to International Financial Reporting Standard (IFRS) 8 and to International Accounting Standards (IAS) 16, 24 and 38 are clarifications or corrections to the respective standards. Amendments to IFRS 2 and IFRS 3, involve changes to the existing requirements or additional guidance on the implementation of those requirements. |
| --- | --- |

(2)

On 12 December 2013, the International Accounting Standards Board (IASB) published Annual Improvements to International Financial Reporting Standards 2010-2012 Cycle (the annual improvements), in the framework of its regular improvement process which aims at streamlining and clarifying the standards. The objective of the annual improvements is to address non-urgent, but necessary issues discussed by the IASB during the project cycle that began in 2010 on areas of inconsistency in International Financial Reporting Standards or where clarification of wording is required. Amendments to International Financial Reporting Standard (IFRS) 8 and to International Accounting Standards (IAS) 16, 24 and 38 are clarifications or corrections to the respective standards. Amendments to IFRS 2 and IFRS 3, involve changes to the existing requirements or additional guidance on the implementation of those requirements.

| (3) | Amendments to IFRS 3 imply by way of consequence amendments to IAS 37 and IAS 39 in order to ensure consistency between international accounting standards. |
| --- | --- |

(3)

Amendments to IFRS 3 imply by way of consequence amendments to IAS 37 and IAS 39 in order to ensure consistency between international accounting standards.

| (4) | Those amendments to existing standards contain some references to IFRS 9 that at present cannot be applied as IFRS 9 has not been adopted by the Union. Therefore any references to IFRS 9 as laid down in the Annex to this Regulation should be read as a reference to IAS 39 Financial instruments: recognition and measurement. |
| --- | --- |

(4)

Those amendments to existing standards contain some references to IFRS 9 that at present cannot be applied as IFRS 9 has not been adopted by the Union. Therefore any references to IFRS 9 as laid down in the Annex to this Regulation should be read as a reference to IAS 39 Financial instruments: recognition and measurement.

| (5) | The consultation with the Technical Expert Group of the European Financial Reporting Advisory Group confirms that the improvements meet the technical criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002. |
| --- | --- |

(5)

The consultation with the Technical Expert Group of the European Financial Reporting Advisory Group confirms that the improvements meet the technical criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002.

| (6) | Regulation (EC) No 1126/2008 should therefore be amended accordingly. |
| --- | --- |

(6)

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

| (7) | The measures provided for in this Regulation are in accordance with the opinion of the Accounting Regulatory Committee, |
| --- | --- |

(7)

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

HAS ADOPTED THIS REGULATION:

Article 1

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

| (a) | IFRS 2 Share-based payment is amended as set out in the Annex to this Regulation; |
| --- | --- |

(a)

IFRS 2 Share-based payment is amended as set out in the Annex to this Regulation;

| (b) | IFRS 3 Business combinations is amended as set out in the Annex to this Regulation; |
| --- | --- |

(b)

IFRS 3 Business combinations is amended as set out in the Annex to this Regulation;

| (c) | IFRS 8 Operating segments is amended as set out in the Annex to this Regulation; |
| --- | --- |

(c)

IFRS 8 Operating segments is amended as set out in the Annex to this Regulation;

| (d) | IAS 16 Property, plant and equipment is amended as set out in the Annex to this Regulation; |
| --- | --- |

(d)

IAS 16 Property, plant and equipment is amended as set out in the Annex to this Regulation;

| (e) | IAS 24 Related party disclosures is amended as set out in the Annex to this Regulation; |
| --- | --- |

(e)

IAS 24 Related party disclosures is amended as set out in the Annex to this Regulation;

| (f) | IAS 38 Intangible assets is amended as set out in the Annex to this Regulation; |
| --- | --- |

(f)

IAS 38 Intangible assets is amended as set out in the Annex to this Regulation;

| (g) | IAS 37 Provisions, contingent liabilities and contingent assets and 39 Financial instruments: recognition and measurement are amended in accordance with the amendments to IFRS 3 as set out in the Annex to this Regulation. |
| --- | --- |

(g)

IAS 37 Provisions, contingent liabilities and contingent assets and 39 Financial instruments: recognition and measurement are amended in accordance with the amendments to IFRS 3 as set out in the Annex to this Regulation.

2.   Any reference to IFRS 9 as laid down in the Annex to this Regulation shall be read as a reference to IAS 39 Financial instruments: recognition and measurement.

Article 2

Each company shall apply the amendments referred to in Article 1(1), at the latest, as from the commencement date of its first financial year starting on or after 1 February 2015.

Article 3

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, 17 December 2014.

For the Commission

The President

Jean-Claude JUNCKER

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(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

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ANNEX

Annual Improvements to IFRSs 2010–2012 Cycle (1)

Amendment to IFRS 2 Share-based Payment

Paragraphs 15 and 19 were amended and paragraph 63B was added.

Transactions in which services are received

...

| 15 | If the equity instruments granted do not vest until the counterparty completes a specified period of service, the entity shall presume that the services to be rendered by the counterparty as consideration for those equity instruments will be received in the future, during the vesting period. The entity shall account for those services as they are rendered by the counterparty during the vesting period, with a corresponding increase in equity. For example:






  (a) | ... |
| --- | --- | --- |

15

(a)

...

| (b) | if an employee is granted share options conditional upon the achievement of a performance condition and remaining in the entity's employ until that performance condition is satisfied, and the length of the vesting period varies depending on when that performance condition is satisfied, the entity shall presume that the services to be rendered by the employee as consideration for the share options will be received in the future, over the expected vesting period. ... |
| --- | --- |

(b)

if an employee is granted share options conditional upon the achievement of a performance condition and remaining in the entity's employ until that performance condition is satisfied, and the length of the vesting period varies depending on when that performance condition is satisfied, the entity shall presume that the services to be rendered by the employee as consideration for the share options will be received in the future, over the expected vesting period. ...

Treatment of vesting conditions

| 19 | A grant of equity instruments might be conditional upon satisfying specified vesting conditions. For example, a grant of shares or share options to an employee is typically conditional on the employee remaining in the entity's employ for a specified period of time. There might be performance conditions that must be satisfied, such as the entity achieving a specified growth in profit or a specified increase in the entity's share price. Vesting conditions, other than market conditions, shall not be taken into account when estimating the fair value of the shares or share options at the measurement date. Instead, vesting conditions shall be taken into account by adjusting the number of equity instruments included in the measurement of the transaction amount so that, ultimately, the amount recognised for goods or services received as consideration for the equity instruments granted shall be based on the number of equity instruments that eventually vest. Hence, on a cumulative basis, no amount is recognised for goods or services received if the equity instruments granted do not vest because of failure to satisfy a vesting condition, eg the counterparty fails to complete a specified service period, or a performance condition is not satisfied, subject to the requirements of paragraph 21.
  ... |
| --- | --- |

19

...

EFFECTIVE DATE

...

| 63B | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraphs 15 and 19. In Appendix A, the definitions of ‘vesting conditions’ and ‘market condition’ were amended and the definitions of ‘performance condition’ and ‘service condition’ were added. An entity shall prospectively apply that amendment to share-based payment transactions for which the grant date is on or after 1 July 2014. Earlier application is permitted. If an entity applies that amendment for an earlier period it shall disclose that fact. |
| --- | --- |

63B

In Appendix A, the definitions of ‘market condition’ and ‘vesting conditions’ are amended and the definitions of ‘performance condition’ and ‘service condition’ are added

Appendix A

Defined terms

This appendix is an integral part of the IFRS.

| ... | |
| --- | --- |
| market condition | A performance condition upon which the exercise price, vesting or exercisability of an equity instrument depends that is related to the market price (or value) of the entity's equity instruments (or the equity instruments of another entity in the same group), such as:






  (a) | attaining a specified share price or a specified amount of intrinsic value of a share option or |

...

market condition

A performance condition upon which the exercise price, vesting or exercisability of an equity instrument depends that is related to the market price (or value) of the entity's equity instruments (or the equity instruments of another entity in the same group), such as:

(a)

attaining a specified share price or a specified amount of intrinsic value of a share option or

| (b) | achieving a specified target that is based on the market price (or value) of the entity's equity instruments (or the equity instruments of another entity in the same group) relative to an index of market prices of equity instruments of other entities. |
| --- | --- |

(b)

achieving a specified target that is based on the market price (or value) of the entity's equity instruments (or the equity instruments of another entity in the same group) relative to an index of market prices of equity instruments of other entities.

A market condition requires the counterparty to complete a specified period of service (ie a service condition); the service requirement can be explicit or implicit.

...

performance condition

A vesting condition that requires:

| (a) | the counterparty to complete a specified period of service (ie a service condition); the service requirement can be explicit or implicit; and |
| --- | --- |

(a)

the counterparty to complete a specified period of service (ie a service condition); the service requirement can be explicit or implicit; and

| (b) | specified performance target(s) to be met while the counterparty is rendering the service required in (a). |
| --- | --- |

(b)

specified performance target(s) to be met while the counterparty is rendering the service required in (a).

The period of achieving the performance target(s):

| (a) | shall not extend beyond the end of the service period; and |
| --- | --- |

(a)

shall not extend beyond the end of the service period; and

| (b) | may start before the service period on the condition that the commencement date of the performance target is not substantially before the commencement of the service period. |
| --- | --- |

(b)

may start before the service period on the condition that the commencement date of the performance target is not substantially before the commencement of the service period.

A performance target is defined by reference to:

| (a) | the entity's own operations (or activities) or the operations or activities of another entity in the same group (ie a non-market condition); or |
| --- | --- |

(a)

the entity's own operations (or activities) or the operations or activities of another entity in the same group (ie a non-market condition); or

| (b) | the price (or value) of the entity's equity instruments or the equity instruments of another entity in the same group (including shares and share options) (ie a market condition). |
| --- | --- |

(b)

the price (or value) of the entity's equity instruments or the equity instruments of another entity in the same group (including shares and share options) (ie a market condition).

A performance target might relate either to the performance of the entity as a whole or to some part of the entity (or part of the group), such as a division or an individual employee.

...

service condition

A vesting condition that requires the counterparty to complete a specified period of service during which services are provided to the entity. If the counterparty, regardless of the reason, ceases to provide service during the vesting period, it has failed to satisfy the condition. A service condition does not require a performance target to be met.

...

vesting conditions

A condition that determines whether the entity receives the services that entitle the counterparty to receive cash, other assets or equity instruments of the entity, under a share-based payment arrangement. A vesting condition is either a service condition or a performance condition.

Amendment to IFRS 3 Business Combinations

Paragraphs 40 and 58 are amended and paragraph 64I and paragraph 67A and its related heading are added.

Contingent consideration

...

| 40 | The acquirer shall classify an obligation to pay contingent consideration that meets the definition of a financial instrument as a financial liability or as equity on the basis of the definitions of an equity instrument and a financial liability in paragraph 11 of IAS 32 Financial Instruments: Presentation. The acquirer shall classify as an asset a right to the return of previously transferred consideration if specified conditions are met. Paragraph 58 provides guidance on the subsequent accounting for contingent consideration.
  ... |
| --- | --- |

40

...

Contingent consideration

| 58 | Some changes in the fair value of contingent consideration that the acquirer recognises after the acquisition date may be the result of additional information that the acquirer obtained after that date about facts and circumstances that existed at the acquisition date. Such changes are measurement period adjustments in accordance with paragraphs 45–49. However, changes resulting from events after the acquisition date, such as meeting an earnings target, reaching a specified share price or reaching a milestone on a research and development project, are not measurement period adjustments. The acquirer shall account for changes in the fair value of contingent consideration that are not measurement period adjustments as follows:






  (a) | ... |
| --- | --- | --- |

58

(a)

...

| (b) | Other contingent consideration that:






  (i) | is within the scope of IFRS 9 shall be measured at fair value at each reporting date and changes in fair value shall be recognised in profit or loss in accordance with IFRS 9. |
| --- | --- | --- |

(b)

Other contingent consideration that:

(i)

is within the scope of IFRS 9 shall be measured at fair value at each reporting date and changes in fair value shall be recognised in profit or loss in accordance with IFRS 9.

| (ii) | is not within the scope of IFRS 9 shall be measured at fair value at each reporting date and changes in fair value shall be recognised in profit or loss. |
| --- | --- |

(ii)

is not within the scope of IFRS 9 shall be measured at fair value at each reporting date and changes in fair value shall be recognised in profit or loss.

...

Effective date

...

| 64I | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraphs 40 and 58 and added paragraph 67A and its related heading. An entity shall apply that amendment prospectively to business combinations for which the acquisition date is on or after 1 July 2014. Earlier application is permitted. An entity may apply the amendment earlier provided that IFRS 9 and IAS 37 (both as amended by Annual Improvements to IFRSs 2010–2012 Cycle) have also been applied. If an entity applies that amendment earlier it shall disclose that fact.
  ... |
| --- | --- |

64I

...

REFERENCE TO IFRS 9

| 67A | If an entity applies this Standard but does not yet apply IFRS 9, any reference to IFRS 9 should be read as a reference to IAS 39. |
| --- | --- |

67A

Consequential amendments to other IFRSs resulting from the amendment to IFRS 3

Amendment to IFRS 9 Financial Instruments (issued in November 2009)

Paragraph 5.4.4 is amended and paragraph 8.1.4 is added.

Investments in equity instruments

| 5.4.4 | At initial recognition, an entity may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument within the scope of this IFRS that is not held for trading and is also not contingent consideration of an acquirer in a business combination to which IFRS 3 Business Combinations applies.

  ... |
| --- | --- |

5.4.4

...

8.1   EFFECTIVE DATE

...

| 8.1.4 | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraph 5.4.4 as a consequential amendment derived from the amendment to IFRS 3. An entity shall apply that amendment prospectively to business combinations to which the amendment to IFRS 3 applies. |
| --- | --- |

8.1.4

Amendment to IFRS 9 Financial Instruments (issued in October 2010)

Paragraphs 4.2.1 and 5.7.5 are amended and paragraph 7.1.4 is added.

4.2   Classification of financial liabilities

| 4.2.1 | An entity shall classify all financial liabilities as subsequently measured at amortised cost using the effective interest method, except for:








  (a) | ... |
| --- | --- | --- |

4.2.1

(a)

...

| (e) | contingent consideration of an acquirer in a business combination to which IFRS 3 Business Combinations applies. Such contingent consideration shall subsequently be measured at fair value. |
| --- | --- |

(e)

contingent consideration of an acquirer in a business combination to which IFRS 3 Business Combinations applies. Such contingent consideration shall subsequently be measured at fair value.

...

Investments in equity instruments

| 5.7.5 | At initial recognition, an entity may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument within the scope of this IFRS that is not held for trading and is also not contingent consideration of an acquirer in a business combination to which IFRS 3 applies.

  ... |
| --- | --- |

5.7.5

...

7.1   EFFECTIVE DATE

...

| 7.1.4 | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraphs 4.2.1 and 5.7.5 as a consequential amendment derived from the amendment to IFRS 3. An entity shall apply that amendment prospectively to business combinations to which the amendment to IFRS 3 applies. |
| --- | --- |

7.1.4

Amendment to IAS 37 Provisions, Contingent Liabilities and Contingent Assets

Paragraph 5 is amended and paragraph 99 is added.

SCOPE

...

| 5 | When another Standard deals with a specific type of provision, contingent liability or contingent asset, an entity applies that Standard instead of this Standard. For example, some types of provisions are addressed in Standards on:






  (a) | ... |
| --- | --- | --- |

5

(a)

...

| (d) | employee benefits (see IAS 19 Employee Benefits); |
| --- | --- |

(d)

employee benefits (see IAS 19 Employee Benefits);

| (e) | insurance contracts (see IFRS 4 Insurance Contracts). However, this Standard applies to provisions, contingent liabilities and contingent assets of an insurer, other than those arising from its contractual obligations and rights under insurance contracts within the scope of IFRS 4; and |
| --- | --- |

(e)

insurance contracts (see IFRS 4 Insurance Contracts). However, this Standard applies to provisions, contingent liabilities and contingent assets of an insurer, other than those arising from its contractual obligations and rights under insurance contracts within the scope of IFRS 4; and

| (f) | contingent consideration of an acquirer in a business combination (see IFRS 3 Business Combinations). |
| --- | --- |

(f)

contingent consideration of an acquirer in a business combination (see IFRS 3 Business Combinations).

...

EFFECTIVE DATE

...

| 99 | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraph 5 as a consequential amendment derived from the amendment to IFRS 3. An entity shall apply that amendment prospectively to business combinations to which the amendment to IFRS 3 applies. |
| --- | --- |

99

Amendment to IAS 39 Financial Instruments: Recognition and Measurement

   (2)

Paragraph 9 is amended and paragraph 108F is added.

Definitions

...

| 9 | The following terms are used in this Standard with the meanings specified:

  ... |
| --- | --- |

9

...

Definitions of four categories of financial instruments

A financial asset or financial liability at fair value through profit or loss is a financial asset or financial liability that meets any of the following conditions.

| (a) | ... |
| --- | --- |

(a)

...

| (aa) | It is contingent consideration of an acquirer in a business combination to which IFRS 3 Business Combinations applies. |
| --- | --- |

(aa)

It is contingent consideration of an acquirer in a business combination to which IFRS 3 Business Combinations applies.

| (b) | ... |
| --- | --- |

(b)

...

EFFECTIVE DATE AND TRANSITION

...

| 108F | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraph 9 as a consequential amendment derived from the amendment to IFRS 3. An entity shall apply that amendment prospectively to business combinations to which the amendment to IFRS 3 applies. |
| --- | --- |

108F

Amendments to IFRS 8 Operating Segments

Paragraphs 22 and 28 are amended and paragraph 36C is added.

General information

| 22 | An entity shall disclose the following general information:






  (a) | factors used to identify the entity's reportable segments, including the basis of organisation (for example, whether management has chosen to organise the entity around differences in products and services, geographical areas, regulatory environments, or a combination of factors and whether operating segments have been aggregated); |
| --- | --- | --- |

22

(a)

factors used to identify the entity's reportable segments, including the basis of organisation (for example, whether management has chosen to organise the entity around differences in products and services, geographical areas, regulatory environments, or a combination of factors and whether operating segments have been aggregated);

| (aa) | the judgements made by management in applying the aggregation criteria in paragraph 12. This includes a brief description of the operating segments that have been aggregated in this way and the economic indicators that have been assessed in determining that the aggregated operating segments share similar economic characteristics; and |
| --- | --- |

(aa)

the judgements made by management in applying the aggregation criteria in paragraph 12. This includes a brief description of the operating segments that have been aggregated in this way and the economic indicators that have been assessed in determining that the aggregated operating segments share similar economic characteristics; and

| (b) | types of products and services from which each reportable segment derives its revenues. |
| --- | --- |

(b)

types of products and services from which each reportable segment derives its revenues.

...

Reconciliations

| 28 | An entity shall provide reconciliations of all of the following:






  (a) | ... |
| --- | --- | --- |

28

(a)

...

| (c) | the total of the reportable segments' assets to the entity's assets if the segment assets are reported in accordance with paragraph 23. |
| --- | --- |

(c)

the total of the reportable segments' assets to the entity's assets if the segment assets are reported in accordance with paragraph 23.

| (d) | ... |
| --- | --- |

(d)

...

TRANSITION AND EFFECTIVE DATE

...

| 36C | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraphs 22 and 28. An entity shall apply those amendments for annual periods beginning on or after 1 July 2014. Earlier application is permitted. If an entity applies those amendments for an earlier period it shall disclose that fact. |
| --- | --- |

36C

Amendment to IAS 16 Property, Plant and Equipment

Paragraph 35 is amended and paragraphs 80A and 81H are added.

Revaluation model

...

| 35 | When an item of property, plant and equipment is revalued, the carrying amount of that asset is adjusted to the revalued amount. At the date of the revaluation, the asset is treated in one of the following ways:






  (a) | the gross carrying amount is adjusted in a manner that is consistent with the revaluation of the carrying amount of the asset. For example, the gross carrying amount may be restated by reference to observable market data or it may be restated proportionately to the change in the carrying amount. The accumulated depreciation at the date of the revaluation is adjusted to equal the difference between the gross carrying amount and the carrying amount of the asset after taking into account accumulated impairment losses; or |
| --- | --- | --- |

35

(a)

the gross carrying amount is adjusted in a manner that is consistent with the revaluation of the carrying amount of the asset. For example, the gross carrying amount may be restated by reference to observable market data or it may be restated proportionately to the change in the carrying amount. The accumulated depreciation at the date of the revaluation is adjusted to equal the difference between the gross carrying amount and the carrying amount of the asset after taking into account accumulated impairment losses; or

| (b) | the accumulated depreciation is eliminated against the gross carrying amount of the asset. |
| --- | --- |

(b)

the accumulated depreciation is eliminated against the gross carrying amount of the asset.

The amount of the adjustment of accumulated depreciation forms part of the increase or decrease in carrying amount that is accounted for in accordance with paragraphs 39 and 40.

...

TRANSITIONAL PROVISIONS

...

| 80A | Paragraph 35 was amended by Annual Improvements to IFRSs 2010–2012 Cycle. An entity shall apply that amendment to all revaluations recognised in annual periods beginning on or after the date of initial application of that amendment and in the immediately preceding annual period. An entity may also present adjusted comparative information for any earlier periods presented, but it is not required to do so. If an entity presents unadjusted comparative information for any earlier periods, it shall clearly identify the information that has not been adjusted, state that it has been presented on a different basis and explain that basis. |
| --- | --- |

80A

EFFECTIVE DATE

...

| 81H | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraph 35 and added paragraph 80A. An entity shall apply that amendment for annual periods beginning on or after 1 July 2014. Earlier application is permitted. If an entity applies that amendment for an earlier period it shall disclose that fact. |
| --- | --- |

81H

Amendment to IAS 24 Related Party Disclosures

Paragraph 9 is amended and paragraphs 17A, 18A and 28C are added.

DEFINITIONS

| 9 | The following terms are used in this Standard with the meanings specified:


  A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard referred to as the ‘reporting entity’).








  (a) | ... |
| --- | --- | --- |

9

A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard referred to as the ‘reporting entity’).

(a)

...

| (b) | An entity is related to a reporting entity if any of the following conditions applies:








  (i) | ... |
| --- | --- | --- |

(b)

An entity is related to a reporting entity if any of the following conditions applies:

(i)

...

| (viii) | The entity, or any member of a group of which it is a part, provides key management personnel services to the reporting entity or to the parent of the reporting entity. |
| --- | --- |

(viii)

The entity, or any member of a group of which it is a part, provides key management personnel services to the reporting entity or to the parent of the reporting entity.

...

All entities

...

| 17A | If an entity obtains key management personnel services from another entity (the ‘management entity’), the entity is not required to apply the requirements in paragraph 17 to the compensation paid or payable by the management entity to the management entity's employees or directors. |
| --- | --- |

17A

| 18 | ... |
| --- | --- |

18

| 18A | Amounts incurred by the entity for the provision of key management personnel services that are provided by a separate management entity shall be disclosed.

  ... |
| --- | --- |

18A

...

EFFECTIVE DATE AND TRANSITION

...

| 28C | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraph 9 and added paragraphs 17A and 18A. An entity shall apply that amendment for annual periods beginning on or after 1 July 2014. Earlier application is permitted. If an entity applies that amendment for an earlier period it shall disclose that fact. |
| --- | --- |

28C

Amendment to IAS 38 Intangible Assets

Paragraph 80 is amended and paragraphs 130H–130I are added.

Revaluation model

...

| 80 | When an intangible asset is revalued, the carrying amount of that asset is adjusted to the revalued amount. At the date of the revaluation, the asset is treated in one of the following ways:






  (a) | the gross carrying amount is adjusted in a manner that is consistent with the revaluation of the carrying amount of the asset. For example, the gross carrying amount may be restated by reference to observable market data or it may be restated proportionately to the change in the carrying amount. The accumulated amortisation at the date of the revaluation is adjusted to equal the difference between the gross carrying amount and the carrying amount of the asset after taking into account accumulated impairment losses; or |
| --- | --- | --- |

80

(a)

the gross carrying amount is adjusted in a manner that is consistent with the revaluation of the carrying amount of the asset. For example, the gross carrying amount may be restated by reference to observable market data or it may be restated proportionately to the change in the carrying amount. The accumulated amortisation at the date of the revaluation is adjusted to equal the difference between the gross carrying amount and the carrying amount of the asset after taking into account accumulated impairment losses; or

| (b) | the accumulated amortisation is eliminated against the gross carrying amount of the asset. |
| --- | --- |

(b)

the accumulated amortisation is eliminated against the gross carrying amount of the asset.

The amount of the adjustment of accumulated amortisation forms part of the increase or decrease in the carrying amount that is accounted for in accordance with paragraphs 85 and 86.

...

TRANSITIONAL PROVISIONS AND EFFECTIVE DATE

...

| 130H | Annual Improvements to IFRSs 2010–2012 Cycle, issued in December 2013, amended paragraph 80. An entity shall apply that amendment for annual periods beginning on or after 1 July 2014. Earlier application is permitted. If an entity applies that amendment for an earlier period it shall disclose that fact. |
| --- | --- |

130H

| 130I | An entity shall apply the amendment made by Annual Improvements to IFRSs 2010–2012 Cycle to all revaluations recognised in annual periods beginning on or after the date of initial application of that amendment and in the immediately preceding annual period. An entity may also present adjusted comparative information for any earlier periods presented, but it is not required to do so. If an entity presents unadjusted comparative information for any earlier periods, it shall clearly identify the information that has not been adjusted, state that it has been presented on a different basis and explain that basis. |
| --- | --- |

130I

---

(1)  

  ‘Reproduction allowed within the European Economic Area. All existing rights reserved outside the EEA, with the exception of the right to reproduce for the purposes of personal use or other fair dealing. Further information can be obtained from the IASB at www.iasb.org’

(2)  IFRS 9 Financial Instruments (issued in October 2010) and IFRS 9 Financial Instruments (Hedge Accounting and amendments to IFRS 9, IFRS 7 and IAS 39) (issued in November 2013) deleted the ‘Definitions of four categories of financial instruments’ in paragraph 9 of IAS 39.

---

| 9.1.2015 | EN | Official Journal of the European Union | L 5/11 |
| --- | --- | --- | --- |

9.1.2015

EN

Official Journal of the European Union

L 5/11

---

COMMISSION REGULATION (EU) 2015/29

of 17 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 Accounting Standard 19

(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 21 November 2013, the International Accounting Standards Board published amendments to International Accounting Standard (IAS) 19 Employee Benefits entitled Defined Benefit Plans: Employee Contributions. The amendments aim to simplify and clarify the accounting for employee or third party contributions linked to defined benefit plans. |
| --- | --- |

(2)

On 21 November 2013, the International Accounting Standards Board published amendments to International Accounting Standard (IAS) 19 Employee Benefits entitled Defined Benefit Plans: Employee Contributions. The amendments aim to simplify and clarify the accounting for employee or third party contributions linked to defined benefit plans.

| (3) | The consultation with the Technical Expert Group of the European Financial Reporting Advisory Group confirms the amendments to IAS 19 meet the technical criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002. |
| --- | --- |

(3)

The consultation with the Technical Expert Group of the European Financial Reporting Advisory Group confirms the amendments to IAS 19 meet the technical criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002.

| (4) | Regulation (EC) No 1126/2008 should therefore be amended accordingly. |
| --- | --- |

(4)

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

| (5) | The measures provided for in this Regulation are in accordance with the opinion of the Accounting Regulatory Committee, |
| --- | --- |

(5)

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

HAS ADOPTED THIS REGULATION:

Article 1

In the Annex to Regulation (EC) No 1126/2008, International Accounting Standard (IAS) 19 Employee benefits 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 February 2015.

Article 3

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, 17 December 2014.

For the Commission

The President

Jean-Claude JUNCKER

---

(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

---

ANNEX

Defined Benefit Plans: Employee Contributions
   (1)

(Amendments to IAS 19)

Paragraphs 93–94 are amended and paragraph 175 is added. Paragraph 92 is included for reference only.

Actuarial assumptions: salaries, benefits and medical costs

...

| 92 | Some defined benefit plans require employees or third parties to contribute to the cost of the plan. Contributions by employees reduce the cost of the benefits to the entity. An entity considers whether third-party contributions reduce the cost of the benefits to the entity, or are a reimbursement right as described in paragraph 116. Contributions by employees or third parties are either set out in the formal terms of the plan (or arise from a constructive obligation that goes beyond those terms), or are discretionary. Discretionary contributions by employees or third parties reduce service cost upon payment of these contributions to the plan. |
| --- | --- |

92

| 93 | Contributions from employees or third parties set out in the formal terms of the plan either reduce service cost (if they are linked to service), or affect remeasurements of the net defined benefit liability (asset) (if they are not linked to service). An example of contributions that are not linked to service is when (the contributions are required to reduce a deficit arising from losses on plan assets or from actuarial losses). If contributions from employees or third parties are linked to service, those contributions reduce the service cost as follows:






  (a) | if the amount of the contributions is dependent on the number of years of service, an entity shall attribute the contributions to periods of service using the same attribution method required by paragraph 70 for the gross benefit (ie either using the plan's contribution formula or on a straight-line basis); or |
| --- | --- | --- |

93

(a)

if the amount of the contributions is dependent on the number of years of service, an entity shall attribute the contributions to periods of service using the same attribution method required by paragraph 70 for the gross benefit (ie either using the plan's contribution formula or on a straight-line basis); or

| (b) | if the amount of the contributions is independent of the number of years of service, the entity is permitted to recognise such contributions as a reduction of the service cost in the period in which the related service is rendered. Examples of contributions that are independent of the number of years of service include those that are a fixed percentage of the employee's salary, a fixed amount throughout the service period or dependent on the employee's age. |
| --- | --- |

(b)

if the amount of the contributions is independent of the number of years of service, the entity is permitted to recognise such contributions as a reduction of the service cost in the period in which the related service is rendered. Examples of contributions that are independent of the number of years of service include those that are a fixed percentage of the employee's salary, a fixed amount throughout the service period or dependent on the employee's age.

Paragraph A1 provides related application guidance.

| 94 | For contributions from employees or third parties that are attributed to periods of service in accordance with paragraph 93(a), changes in the contributions result in:






  (a) | current and past service cost (if those changes are not set out in the formal terms of a plan and do not arise from a constructive obligation); or |
| --- | --- | --- |

94

(a)

current and past service cost (if those changes are not set out in the formal terms of a plan and do not arise from a constructive obligation); or

| (b) | actuarial gains and losses (if those changes are set out in the formal terms of a plan, or arise from a constructive obligation). |
| --- | --- |

(b)

actuarial gains and losses (if those changes are set out in the formal terms of a plan, or arise from a constructive obligation).

...

TRANSITION AND EFFECTIVE DATE

...

| 175 | Defined Benefit Plans: Employee Contributions (Amendments to IAS 19), issued in November 2013, amended paragraphs 93–94. An entity shall apply those amendments for annual periods beginning on or after 1 July 2014 retrospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Earlier application is permitted. If an entity applies those amendments for an earlier period, it shall disclose that fact. |
| --- | --- |

175

Amendments to the Appendices of IAS 19 Employee Benefits

Appendix A is added.

Appendix A

Application Guidance

This appendix is an integral part of the IFRS. It describes the application of paragraphs 92–93 and has the same authority as the other parts of the IFRS.

| A1 | The accounting requirements for contributions from employees or third parties are illustrated in the diagram below.



  Text of image

  (1) This dotted arrow means that an entity is permitted to choose either accounting.
  Reduce service cost upon payment to the plan (paragraph 92)
  Affect remeasurements (paragraph 93)
  Reduce service cost in the period in which the related service is rendered (paragraph 93(b))
  Reduce service cost by being attributed to periods of service (paragraph 93(a))
  Not linked to service (for example, reduce a deficit)
  Independent of the number of years of service
  Dependent on the number of years of service
  Contributions from employees or third parties
  Set out in the formal terms of the plan (or arise from a constructive obligation that goes beyond those terms)
  Discretionary
  Linked to service |
| --- | --- |

A1

(1) This dotted arrow means that an entity is permitted to choose either accounting.

Reduce service cost upon payment to the plan (paragraph 92)

Affect remeasurements (paragraph 93)

Reduce service cost in the period in which the related service is rendered (paragraph 93(b))

Reduce service cost by being attributed to periods of service (paragraph 93(a))

Not linked to service (for example, reduce a deficit)

Independent of the number of years of service

Dependent on the number of years of service

Contributions from employees or third parties

Set out in the formal terms of the plan (or arise from a constructive obligation that goes beyond those terms)

Discretionary

Linked to service

---

(1)  

  ‘Reproduction allowed within the European Economic Area. All existing rights reserved outside the EEA, with the exception of the right to reproduce for the purposes of personal use or other fair dealing. Further information can be obtained from the IASB at www.iasb.org’

1

‘Reproduction allowed within the European Economic Area. All existing rights reserved outside the EEA, with the exception of the right to reproduce for the purposes of personal use or other fair dealing. Further information can be obtained from the IASB at www.iasb.org’

---

| 9.1.2015 | EN | Official Journal of the European Union | L 5/14 |
| --- | --- | --- | --- |

9.1.2015

EN

Official Journal of the European Union

L 5/14

---

COMMISSION IMPLEMENTING REGULATION (EU) 2015/30

of 17 December 2014

entering a name in the register of protected designations of origin and protected geographical indications (Potjesvlees uit de Westhoek (PGI))

THE EUROPEAN COMMISSION,

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

Having regard to Regulation (EU) No 1151/2012 of the European Parliament and of the Council of 21 November 2012 on quality schemes for agricultural products and foodstuffs (1), and in particular Article 52(2) thereof,

Whereas:

| (1) | Pursuant to Article 50(2)(a) of Regulation (EU) No 1151/2012, Belgium's application to register the name ‘Potjesvlees uit de Westhoek’ was published in the Official Journal of the European Union (2). |
| --- | --- |

(1)

Pursuant to Article 50(2)(a) of Regulation (EU) No 1151/2012, Belgium's application to register the name ‘Potjesvlees uit de Westhoek’ was published in the Official Journal of the European Union (2).

| (2) | As no statement of opposition under Article 51 of Regulation (EU) No 1151/2012 has been received by the Commission, the name ‘Potjesvlees uit de Westhoek’ should therefore be entered in the register, |
| --- | --- |

(2)

As no statement of opposition under Article 51 of Regulation (EU) No 1151/2012 has been received by the Commission, the name ‘Potjesvlees uit de Westhoek’ should therefore be entered in the register,

HAS ADOPTED THIS REGULATION:

Article 1

The name ‘Potjesvlees uit de Westhoek’ (PGI) is hereby entered in the register.

The name referred to in the first paragraph identifies a product in Class 1.2 Meat products (cooked, salted, smoked, etc.) of Annex XI to Commission Implementing Regulation (EU) No 668/2014 (3).

Article 2

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, 17 December 2014.

For the Commission

On behalf of the President,

Phil HOGAN

Member of the Commission

---

(1)  
  OJ L 343, 14.12.2012, p. 1.

1

(2)  
  OJ C 260, 9.8.2014, p. 13.

2

(3)  Commission Implementing Regulation (EU) No 668/2014 of 13 June 2014 laying down rules for the application of Regulation (EU) No 1151/2012 of the European Parliament and of the Council on quality schemes for agricultural products and foodstuffs (OJ L 179, 19.6.2014, p. 36).

3

---

| 9.1.2015 | EN | Official Journal of the European Union | L 5/15 |
| --- | --- | --- | --- |

9.1.2015

EN

Official Journal of the European Union

L 5/15

---

COMMISSION IMPLEMENTING REGULATION (EU) 2015/31

of 8 January 2015

establishing the standard import values for determining the entry price of certain fruit and vegetables

THE EUROPEAN COMMISSION,

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

Having regard to Regulation (EU) No 1308/2013 of the European Parliament and of the Council of 17 December 2013 establishing a common organisation of the markets in agricultural products and repealing Council Regulations (EEC) No 922/72, (EEC) No 234/79, (EC) No 1037/2001 and (EC) No 1234/2007 (1),

Having regard to Commission Implementing Regulation (EU) No 543/2011 of 7 June 2011 laying down detailed rules for the application of Council Regulation (EC) No 1234/2007 in respect of the fruit and vegetables and processed fruit and vegetables sectors (2), and in particular Article 136(1) thereof,

Whereas:

| (1) | Implementing Regulation (EU) No 543/2011 lays down, pursuant to the outcome of the Uruguay Round multilateral trade negotiations, the criteria whereby the Commission fixes the standard values for imports from third countries, in respect of the products and periods stipulated in Annex XVI, Part A thereto. |
| --- | --- |

(1)

Implementing Regulation (EU) No 543/2011 lays down, pursuant to the outcome of the Uruguay Round multilateral trade negotiations, the criteria whereby the Commission fixes the standard values for imports from third countries, in respect of the products and periods stipulated in Annex XVI, Part A thereto.

| (2) | The standard import value is calculated each working day, in accordance with Article 136(1) of Implementing Regulation (EU) No 543/2011, taking into account variable daily data. Therefore this Regulation should enter into force on the day of its publication in the Official Journal of the European Union, |
| --- | --- |

(2)

The standard import value is calculated each working day, in accordance with Article 136(1) of Implementing Regulation (EU) No 543/2011, taking into account variable daily data. Therefore this Regulation should enter into force on the day of its publication in the Official Journal of the European Union,

HAS ADOPTED THIS REGULATION:

Article 1

The standard import values referred to in Article 136 of Implementing Regulation (EU) No 543/2011 are fixed in the Annex to this Regulation.

Article 2

This Regulation shall enter into force on the day 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, 8 January 2015.

For the Commission,

On behalf of the President,

Jerzy PLEWA

Director-General for Agriculture and Rural Development

---

(1)  
  OJ L 347, 20.12.2013, p. 671.

1

(2)  
  OJ L 157, 15.6.2011, p. 1.

2

---

ANNEX

Standard import values for determining the entry price of certain fruit and vegetables

| (EUR/100 kg) |
| --- |
| CN code | Third country code (1) | Standard import value |
| 0702 00 00 | AL | 69,6 |
| EG | 163,7 |
| IL | 104,4 |
| MA | 92,3 |
| TN | 130,5 |
| TR | 111,3 |
| ZZ | 112,0 |
| 0707 00 05 | TR | 165,8 |
| ZZ | 165,8 |
| 0709 93 10 | MA | 115,7 |
| SN | 80,8 |
| TR | 160,3 |
| ZZ | 118,9 |
| 0805 10 20 | EG | 41,2 |
| MA | 59,5 |
| TR | 64,2 |
| ZA | 37,5 |
| ZW | 32,9 |
| ZZ | 47,1 |
| 0805 20 10 | MA | 75,0 |
| ZZ | 75,0 |
| 0805 20 30 , 0805 20 50 , 0805 20 70 , 0805 20 90 | IL | 86,0 |
| JM | 105,8 |
| TR | 74,3 |
| ZZ | 88,7 |
| 0805 50 10 | TR | 63,4 |
| ZZ | 63,4 |
| 0808 10 80 | AR | 164,5 |
| BR | 65,7 |
| CL | 87,3 |
| MK | 39,8 |
| US | 145,0 |
| ZA | 147,0 |
| ZZ | 108,2 |
| 0808 30 90 | US | 140,6 |
| ZZ | 140,6 |

(EUR/100 kg)

CN code

Third country code (1)

Standard import value

0702 00 00

AL

69,6

EG

163,7

IL

104,4

MA

92,3

TN

130,5

TR

111,3

ZZ

112,0

0707 00 05

TR

165,8

ZZ

165,8

0709 93 10

MA

115,7

SN

80,8

TR

160,3

ZZ

118,9

0805 10 20

EG

41,2

MA

59,5

TR

64,2

ZA

37,5

ZW

32,9

ZZ

47,1

0805 20 10

MA

75,0

ZZ

75,0

0805 20 30 , 0805 20 50 , 0805 20 70 , 0805 20 90

IL

86,0

JM

105,8

TR

74,3

ZZ

88,7

0805 50 10

TR

63,4

ZZ

63,4

0808 10 80

AR

164,5

BR

65,7

CL

87,3

MK

39,8

US

145,0

ZA

147,0

ZZ

108,2

0808 30 90

US

140,6

ZZ

140,6

---

(1)  Nomenclature of countries laid down by Commission Regulation (EU) No 1106/2012 of 27 November 2012 implementing Regulation (EC) No 471/2009 of the European Parliament and of the Council on Community statistics relating to external trade with non-member countries, as regards the update of the nomenclature of countries and territories (OJ L 328, 28.11.2012, p. 7). Code ‘ZZ’ stands for ‘of other origin’.

---

DECISIONS

| 9.1.2015 | EN | Official Journal of the European Union | L 5/17 |
| --- | --- | --- | --- |

9.1.2015

EN

Official Journal of the European Union

L 5/17

---

DECISION (EU) 2015/32 OF THE EUROPEAN CENTRAL BANK

of 29 December 2014

concerning derogations that may be granted under Regulation (EU) No 1073/2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38)

(recast)

(ECB/2014/62)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to Regulation (EU) No 1073/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38) (1), and in particular Article 8(2) thereof,

Whereas:

| (1) | Article 8(2) of Regulation (EU) No 1073/2013 (ECB/2013/38) provides that derogations from statistical reporting requirements may be granted to investment funds (IFs) that are subject to national accounting rules which allow the valuation of their assets less frequently than quarterly. It further provides that the IF categories to which the national central banks (NCBs) have the discretion to grant derogations are to be decided by the Governing Council. |
| --- | --- |

(1)

Article 8(2) of Regulation (EU) No 1073/2013 (ECB/2013/38) provides that derogations from statistical reporting requirements may be granted to investment funds (IFs) that are subject to national accounting rules which allow the valuation of their assets less frequently than quarterly. It further provides that the IF categories to which the national central banks (NCBs) have the discretion to grant derogations are to be decided by the Governing Council.

| (2) | Since Decision ECB/2009/4 (2) needs to be substantially amended, it should be recast in the interests of clarity, |
| --- | --- |

(2)

Since Decision ECB/2009/4 (2) needs to be substantially amended, it should be recast in the interests of clarity,

HAS ADOPTED THIS DECISION:

Article 1

Derogations

The IF categories in respect of which the NCBs have the discretion to grant derogations pursuant to Article 8(2) of Regulation (EU) No 1073/2013 (ECB/2013/38) are laid down in the Annex to this Decision. The Governing Council shall review these categories at least every three years.

Article 2

Repeal

1.   Decision ECB/2009/4 is repealed.

2.   References to the repealed Decision shall be construed as references to this Decision.

Article 3

Taking effect

This Decision shall take effect on the day of its notification to the addressees.

Article 4

Addressees

This Decision is addressed to the NCBs of the Member States whose currency is the euro.

Done at Frankfurt am Main, 29 December 2014.

The President of the ECB

Mario DRAGHI

---

(1)  
  OJ L 297, 7.11.2013, p. 73.

1

(2)  Decision ECB/2009/4 of 6 March 2009 concerning derogations that may be granted under Regulation (EC) No 958/2007 concerning statistics on the assets and liabilities of investment funds (ECB/2007/8) (OJ L 72, 18.3.2009, p. 21).

2

---

ANNEX

INVESTMENT FUND CATEGORIES FOR WHICH DEROGATIONS MAY BE GRANTED UNDER ARTICLE 8(2) OF REGULATION (EU) No 1073/2013 (ECB/2013/38)

| Member State | Name of IF category | Legal act relating to the category | Legal act determining the frequency of valuation | Frequency of valuation under national legislation |
| --- | --- | --- | --- | --- |
| Title of legal act | Number/date of legal act | Relevant provisions | Title of legal act | Number/date of legal act | Relevant provisions |
| France | Fonds commun de placement à risque

  (Venture capital mutual funds) | Code monétaire et financier

  (Monetary and Financial Code) | | Chapter IV, Section 2, Paragraph 2, L214-28 to L214-32 | Règlement général de l'Autorité des Marchés Financiers

  (General Regulation of the Financial Markets Authority) | | Book IV, Title II, Article 422-120-13 | Biannual |
| France | Sociétés civiles de placement immobilier

  (Real estate investment companies) | Code monétaire et financier

  (Monetary and Financial Code) | | Chapter IV, Section 2, Paragraph 4 L214-86 to L214-126 | Règlement général de l'Autorité des Marchés Financiers

  (General Regulation of the Financial Markets Authority) | | Book IV, Article 422-234 | Annual |
| France | Organismes de placement collectif immobilier

  (Real estate collective investment undertakings) | Code monétaire et financier

  (Monetary and Financial Code) | | Chapter IV, Section 2, Paragraph 3 L214-33 to L214-85 | Règlement général de l'Autorité des Marchés Financiers

  (General Regulation of the Financial Markets Authority) | | Book IV, Article 422-186 | Biannual |
| Italy | Fondi chiusi

  (Closed funds) | Decreto legislativo — Testo unico delle disposizioni in materia di intermediazione finanziaria

  (Legislative decree — all provisions in the field of financial intermediation) | No 58 of 24 February 1998 | Part I, Article 1
  Part II, Articles 36, 37 and 39 | Provvedimento della Banca d'Italia — Regolamento sulla gestione collettiva del risparmio

  (Act of the Banca d'Italia — Regulation on the collective management of savings) | 8 May 2012 | Title V, Chapter 1, Section II, paragraph 4.6 | Biannual |
| Decreto ministeriale — Regolamento attuativo dell'articolo 37 del Decreto legislativo di 24 febbraio 1998, nr. 58

  (Ministerial decree — Regulation implementing Article 37 of Legislative decree No 58 of 24 February 1998) | No 228 of 24 May 1999 | Chapter II, Article 12 |
| Lithuania | Informuotiesiems investuotojams skirti kolektyvinio investavimo subjektai

  (Collective investment undertakings intended for informed investors) | Informuotiesiems investuotojams skirtų kolektyvinio investavimo subjektų įstatymas

  (Law on Collective Investment Undertakings Intended for Informed Investors) | No XII-376 of 18 June 2013 | Article 2(4) | Informuotiesiems investuotojams skirtų kolektyvinio investavimo subjektų įstatymas

  (Law on Collective Investment Undertakings Intended for Informed Investors) | No XII-376 of 18 June 2013 | Article 31(2) | Biannual/annual |
| Portugal | Fundos de capital de risco

  (Venture capital funds) | Decreto-Lei

  (Decree Law) | No 375/2007 of 8 November 2007 | Article 18 | Regulamento da Comissão do Mercado de Valores Mobiliários

  (Securities Market Commission Regulation)

  Instrução da Comissão do Mercado de Valores Mobiliários

  (Securities Market Commission Guideline) | No 1/2008 of 14 February 2008
  No 2/2013 of 30 May 2013 | Articles 4 and 11
  Rule 1 | Biannual |

Member State

Name of IF category

Legal act relating to the category

Legal act determining the frequency of valuation

Frequency of valuation under national legislation

Title of legal act

Number/date of legal act

Relevant provisions

Title of legal act

Number/date of legal act

Relevant provisions

France

Fonds commun de placement à risque

(Venture capital mutual funds)

Code monétaire et financier

(Monetary and Financial Code)

Chapter IV, Section 2, Paragraph 2, L214-28 to L214-32

Règlement général de l'Autorité des Marchés Financiers

(General Regulation of the Financial Markets Authority)

Book IV, Title II, Article 422-120-13

Biannual

France

Sociétés civiles de placement immobilier

(Real estate investment companies)

Code monétaire et financier

(Monetary and Financial Code)

Chapter IV, Section 2, Paragraph 4 L214-86 to L214-126

Règlement général de l'Autorité des Marchés Financiers

(General Regulation of the Financial Markets Authority)

Book IV, Article 422-234

Annual

France

Organismes de placement collectif immobilier

(Real estate collective investment undertakings)

Code monétaire et financier

(Monetary and Financial Code)

Chapter IV, Section 2, Paragraph 3 L214-33 to L214-85

Règlement général de l'Autorité des Marchés Financiers

(General Regulation of the Financial Markets Authority)

Book IV, Article 422-186

Biannual

Italy

Fondi chiusi

(Closed funds)

Decreto legislativo — Testo unico delle disposizioni in materia di intermediazione finanziaria

(Legislative decree — all provisions in the field of financial intermediation)

No 58 of 24 February 1998

Part I, Article 1

Part II, Articles 36, 37 and 39

Provvedimento della Banca d'Italia — Regolamento sulla gestione collettiva del risparmio

(Act of the Banca d'Italia — Regulation on the collective management of savings)

8 May 2012

Title V, Chapter 1, Section II, paragraph 4.6

Biannual

Decreto ministeriale — Regolamento attuativo dell'articolo 37 del Decreto legislativo di 24 febbraio 1998, nr. 58

(Ministerial decree — Regulation implementing Article 37 of Legislative decree No 58 of 24 February 1998)

No 228 of 24 May 1999

Chapter II, Article 12

Lithuania

Informuotiesiems investuotojams skirti kolektyvinio investavimo subjektai

(Collective investment undertakings intended for informed investors)

Informuotiesiems investuotojams skirtų kolektyvinio investavimo subjektų įstatymas

(Law on Collective Investment Undertakings Intended for Informed Investors)

No XII-376 of 18 June 2013

Article 2(4)

Informuotiesiems investuotojams skirtų kolektyvinio investavimo subjektų įstatymas

(Law on Collective Investment Undertakings Intended for Informed Investors)

No XII-376 of 18 June 2013

Article 31(2)

Biannual/annual

Portugal

Fundos de capital de risco

(Venture capital funds)

Decreto-Lei

(Decree Law)

No 375/2007 of 8 November 2007

Article 18

Regulamento da Comissão do Mercado de Valores Mobiliários

(Securities Market Commission Regulation)

Instrução da Comissão do Mercado de Valores Mobiliários

(Securities Market Commission Guideline)

No 1/2008 of 14 February 2008

No 2/2013 of 30 May 2013

Articles 4 and 11

Rule 1

Biannual

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