a. A foreign private issuer that accounts in its primary financial statements for its operations in a hyperinflationary economy in accordance with IAS 21, The Effects of Changes in Foreign Exchange Rates, as amended, may omit quantification of any differences that would have resulted from application of the U.S. standard, ASC 830. [Item 17(c)(2)(iv)(B) of Form 20-F]

b. IAS 21 requires that amounts in the financial statements of the hyperinflationary operation be restated for the effects of changing prices in accordance with IAS 29, Financial Reporting in Hyperinflationary Economies, and then translated to the reporting currency. The accommodation is only available if the issuer uses the historical cost/constant currency method of IAS 29. This accommodation relates to financial statements prepared in a stable reporting currency, not to financial statements price-level adjusted for inflation.

a. Foreign private issuers that use proportional consolidation under home-country GAAP for investments in joint ventures that would be equity method investees under U.S. GAAP may omit reconciling differences related to classification or display and instead provide summarized footnote disclosure of the amounts proportionately consolidated, such as:

1. Current assets/liabilities;

2. Noncurrent assets/liabilities;

3. Net sales;

4. Gross profit;

5. Net income; and

6. Cash flow information resulting from operating, financing, and investing activities.

b. The disclosure should allow a reader to reconstruct a U.S. GAAP balance sheet. Summarized totals from the investee financial statements (rather than the amounts proportionally consolidated by the registrant) do not satisfy this condition.

c. Separate financial statements of a joint venture being proportionally consolidated are not required.