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Article 26
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An issuer electing to use the deemed cost exemption described in IFRS 1 shall be subject to the following:
- If electing to use the fair value of an item of investment property as its deemed cost, the issuer shall do so in accordance with Article 9, paragraph 4, subparagraph 4.
- For an item of investment property that does not fall within the scope of the preceding subparagraph allowing the use of fair value as deemed cost, of property, plant and equipment not classified as for investment or held for sale, of intangible assets, or of exploration and evaluation assets, the issuer may only elect to use a previous GAAP revaluation of that item as deemed cost at the date of the revaluation.
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