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Final stage

On 27 June 2013, the International Accounting Standards Board issued Novation of Derivatives and Continuation of Hedge Accounting (Amendments to IAS 39). The amendments are to be applied retrospectively and have an effective date of 1 January 2014.

The amendments allow hedge accounting to continue when derivatives are novated to effect clearing with a central counterparty as a result of laws or regulations, if specific conditions are met.

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