Article 1
Article 1 of Decision 2008/961/EC is amended as follows: 1. the second paragraph is replaced by the following: ‘From 1 January 2012, with regard to annual consolidated financial statements and half-yearly consolidated financial statements, the following standards shall be considered as equivalent to IFRS adopted pursuant to Regulation (EC) No 1606/2002: (a) Generally Accepted Accounting Principles of the People’s Republic of China; (b) Generally Accepted Accounting Principles of Canada; (c) Generally Accepted Accounting Principles of the Republic of Korea.’; 2. the following third paragraph is added: ‘Third country issuers shall be permitted to prepare their annual consolidated financial statements and half-yearly consolidated financial statements in accordance with the Generally Accepted Accounting Principles of the Republic of India for financial years starting before 1 January 2015.’.