The Board discussed responses to its exposure draft (ED) Prepayments of a Minimum Funding Requirement (Amendments to IFRS 14), published in May 2009, and tentatively:
- confirmed the scope of the project as proposed in the ED
- confirmed the definitions proposed in the ED. However, the Board tentatively decided to propose clarifying that a minimum funding requirement must be enforceable in the forthcoming ED of proposed amendments to IAS 19.
- reinstated paragraph 22 of IFRIC 14.
- confirmed the transitional arrangements as proposed in the ED.
- decided to require entities to apply the amendments for annual periods beginning on or after 1 January 2011 with early adoption permitted.