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Final stage

On 26 November 2009, the International Accounting Standards Board issued Prepayments of a Minimum Funding Requirement (Amendments to IFRIC 14). The amendments have an effective date of 1 January 2011, but earlier adoption is permitted.

The amendment applies in the limited circumstances when an entity is subject to minimum funding requirements and makes an early payment of contributions to cover those requirements. The amendment permits such an entity to treat the benefit of such an early payment as an asset.