1. Introductory Text

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

  3. Article 2.Each company shall apply IFRIC 12, as set out in...

  4. Article 3.This Regulation shall enter into force on the third day...

  5. Signature

    1. ANNEX

      2. IFRIC INTERPRETATION 12 Service Concession Arrangements

        1. REFERENCES

        2. BACKGROUND

          1. 1 In many countries, infrastructure for public services — such as...

          2. 2 In some countries, governments have introduced contractual service arrangements to...

          3. 3 A feature of these service arrangements is the public service...

        3. SCOPE

          1. 4 This Interpretation gives guidance on the accounting by operators for...

          2. 5 This Interpretation applies to public-to-private service concession arrangements if:

          3. 6 Infrastructure used in a public-to-private service concession arrangement for its...

          4. 7 This Interpretation applies to both:

          5. 8 This Interpretation does not specify the accounting for infrastructure that...

          6. 9 This Interpretation does not specify the accounting by grantors.

        4. ISSUES

          1. 10 This Interpretation sets out general principles on recognising and measuring...

        5. CONSENSUS

          1. Treatment of the operator’s rights over the infrastructure

            1. 11 Infrastructure within the scope of this Interpretation shall not be...

          2. Recognition and measurement of arrangement consideration

            1. 12 Under the terms of contractual arrangements within the scope of...

            2. 13 The operator shall recognise and measure revenue in accordance with...

          3. Construction or upgrade services

            1. 14 The operator shall account for revenue and costs relating to...

            2. Consideration given by the grantor to the operator

              1. 15 If the operator provides construction or upgrade services the consideration...

              2. 16 The operator shall recognise a financial asset to the extent...

              3. 17 The operator shall recognise an intangible asset to the extent...

              4. 18 If the operator is paid for the construction services partly...

              5. 19 The nature of the consideration given by the grantor to...

          4. Operation services

            1. 20 The operator shall account for revenue and costs relating to...

            2. Contractual obligations to restore the infrastructure to a specified level...

              1. 21 The operator may have contractual obligations it must fulfil as...

          5. Borrowing costs incurred by the operator

            1. 22 In accordance with IAS 23, borrowing costs attributable to the...

          6. Financial asset

            1. 23 IASs 32 and 39 and IFRS 7 apply to the...

            2. 24 The amount due from or at the direction of the...

            3. 25 If the amount due from the grantor is accounted for...

          7. Intangible asset

            1. 26 IAS 38 applies to the intangible asset recognised in accordance...

          8. Items provided to the operator by the grantor

            1. 27 In accordance with paragraph 11, infrastructure items to which the...

        6. EFFECTIVE DATE

          1. 28 An entity shall apply this Interpretation for annual periods beginning...

        7. TRANSITION

          1. 29 Subject to paragraph 30, changes in accounting policies are accounted...

          2. 30 If, for any particular service arrangement, it is impracticable for...

      3. Appendix A APPLICATION GUIDANCE

        1. SCOPE (paragraph 5)

          1. AG1 Paragraph 5 of this Interpretation specifies that infrastructure is within...

          2. AG2 The control or regulation referred to in condition (a) could...

          3. AG3 For the purpose of condition (a), the grantor does not...

          4. AG4 For the purpose of condition (b), the grantor’s control over...

          5. AG5 Control should be distinguished from management. If the grantor retains...

          6. AG6 Conditions (a) and (b) together identify when the infrastructure, including...

          7. AG7 Sometimes the use of infrastructure is partly regulated in the...

          8. AG8 The operator may have a right to use the separable...

      4. Appendix B AMENDMENTS TO IFRS 1 AND TO OTHER INTERPRETATIONS

        1. B1 IFRS 1 First-time Adoption of International Financial Reporting Standards is...

          1. Service concession arrangements

            1. 25H A first-time adopter may apply the transitional provisions in IFRIC...

        2. B2 IFRIC 4 Determining whether an Arrangement Contains a Lease is...

          1. 4 This Interpretation does not apply to arrangements that:

        3. B3 SIC–29 Disclosure — Service Concession Arrangements is amended as described...