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

1.. International Financial Reporting Standard (IFRS) 1 is amended as set out in the Annex to this Regulation;
2.. IFRS 7 is amended as set out in the Annex to this Regulation.
Article 2 
Each company shall apply the amendments to IFRS 1 and IFRS 7, as set out in the Annex to this Regulation, at the latest, as from the commencement date of its first financial year starting after 30 June 2010.
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, 30 June 2010.
For the Commission
The President
José Manuel BARROSO
ANNEX
IFRS 1 Amendment to IFRS 1 Limited Exemption from Comparative IFRS 7 Disclosures for First-time adopters
IFRS 7 Amendment to IFRS 7 Financial Instruments: DisclosuresReproduction 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 Amendment to IFRS 1 
Paragraph 39C is added.
 39C Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters, (Amendment to IFRS 1) issued in January 2010, added paragraph E3. An entity shall apply that amendment for annual periods beginning on or after 1 July 2010. Earlier application is permitted. If an entity applies the amendment for an earlier period, it shall disclose that fact.

Appendix E 
A heading, paragraph E3 and a footnote are added.
 E3 A first-time adopter may apply the transition provisions in paragraph 44G of IFRS 7.

Appendix  Amendment to IFRS 7 
Paragraph 44G is amended (new text is underlined and deleted text is struck through) and footnoted.
 44G 

((a)) any annual or interim period, including any statement of financial position, presented within an annual comparative period ending before 31 December 2009, or
((b)) any statement of financial position as at the beginning of the earliest comparative period as at a date before 31 December 2009.

Earlier application is permitted. If an entity applies the amendments for an earlier period, it shall disclose that fact.
