70Paragraphs 12, 20 and 22 are amended as follows (new text is underlined and deleted text is struck through):

70 Paragraphs 12, 20 and 22 are amended as follows (new text is underlined and deleted text is struck through):

12 In assessing whether there is any indication that an asset may be impaired, an entity shall consider, as a minimum, the following indications:

External sources of information

(a) during the period, there are observable indications that the an asset’s market value has declined during the period significantly more than would be expected as a result of the passage of time or normal use;

20 It may be possible to determine measure fair value less costs to sell of disposal, even if there is not a quoted price in an active market for an identical asset is not traded in an active market. However, sometimes it will not be possible to determine measure fair value less costs to sell of disposal because there is no basis for making a reliable estimate of the amount obtainable from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties price at which an orderly transaction to sell the asset would take place between market participants at the measurement date under current market conditions. In this case, the entity may use the asset’s value in use as its recoverable amount.

22 Recoverable amount is determined for an individual asset … unless either:

(b) the asset’s value in use can be estimated to be close to its fair value less costs to sell of disposal and fair value less costs to sell of disposal can be determined measured.