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No. S 521

Companies Act

(Chapter 50)

Companies (Accounting Standards) (Amendment No. 3) Regulations 2004

In exercise of the powers conferred by section 200A(1) of the Companies Act, the Accounting Standards Committee (known as the Council on Corporate Disclosure and Governance), with the approval of the Minister for Finance, hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Companies (Accounting Standards) (Amendment No. 3) Regulations 2004 and shall come into operation on 1st September 2004.

Amendment of Second Schedule

2. The Second Schedule to the Companies (Accounting Standards) Regulations (Rg 6, 2004 Ed.) is amended —

(a)

by deleting the word “and” at the end of paragraph (i); and

(b)

by deleting the full-stop at the end of paragraph (j) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:

“(k)	“IFRIC Interpretation 1”, “IFRIC Interpretation 2”, “IFRIC Interpretation 3”, etc., shall be read as “INT FRS 101”, “INT FRS 102”, “INT FRS 103”, etc., respectively.”.

Amendment of Seventh Schedule

3. The Seventh Schedule to the Companies (Accounting Standards) Regulations is amended by inserting, immediately after the item relating to INT FRS 33, the following item:

“

INT FRS 101
Changes in Existing Decommissioning, Restoration and Similar Liabilities

IFRIC
Interpretation 1
Changes in Existing Decommissioning, Restoration and Similar Liabilities

Delete the following words in paragraph A1 of the Appendix to IFRIC Interpretation 1:

“In the Basis for Conclusions, a new heading and paragraph BC63C are inserted, as follows:”,

and the paragraphs thereunder.

”.

[G.N. Nos. S 401/2004; S 412/2004]

Made this 31st day of August 2004.

J Y PILLAY

Chairman,
Council on Corporate Disclosure
and Governance,
Singapore.

[F200402551T; AG/LEG/SL/50/2002/1 Vol. 8]