The Interpretations Committee considered a summary of the comment letters to the Exposure Draft Transfers of Investment Property (Proposed amendments to IAS 40), and discussed the proposals in the Exposure Draft.
The Interpretations Committee recommended to the Board that it should proceed with the proposed amendments to IAS 40, subject to the following:
The Interpretations Committee also recommended that an entity be permitted to apply either of the following transition approaches when first applying the proposed amendments to IAS 40:
Next steps
The Board will discuss the Interpretations Committee's recommendations at a future Board meeting.