1‑6 Reporting Standards1‑6 Reporting Standards

1‑6 Reporting Standards

(1) If a provision (the referring provision) of this instrument refers, in relation to a day, to a Reporting Standard with a particular identifier, the referring provision is to be taken to refer to the version of the Reporting Standard with that identifier that: (a) applied to a reporting period (within the meaning of that version of the Reporting Standard) that ended on that day, or that included that day, as the case requires; and (b) so applied because of a reporting standard determined under section 13 of the Financial Sector (Collection of Data) Act 2001.

Note: Example: Reporting Standard GRS 300.0 Statement of Financial Position.

(2) However, if no version of that Reporting Standard applies to such a reporting period because that Reporting Standard has been replaced by a Reporting Standard with a different identifier: (a) subsection (1) applies as if the referring provision referred instead, in relation to that day, to the Reporting Standard with the different identifier; and (b) if the referring provision also refers to particular material in the Reporting Standard that has been replaced, it is taken to refer instead to the corresponding material in the applicable version of the Reporting Standard with the different identifier. (3) In this section:

identifier means a combination of letters and numbers (with or without punctuation marks, and whether or not followed by a title).