L 14922 Official Journal of the European Union 12.6.2009 COMMISSION REGULATION (EC) No 495/2009 of 3 June 2009 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Financial Reporting Standard (IFRS) 3 (Text with EEA relevance) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards ('), and in particular Article 3(1) thereof, Whereas: () By Commission Regulation (EC) No 1126/2008 (3 certain international standards and interpretations that were in existence at 15 October 2008 were adopted. (2 On 10 January 2008, the International Accounting Standards Board (IASB) published International Financial Reporting Standard (IFRS) 3 (Revised) Business Combi- nations, hereinafter ‘revised IFRS 3’. The revised IFRS 3 establishes principles and rules about how an acquirer in a business combination has to recognise and measure in its books the different elements (such as identifiable assets, liabilities assumed, non-controlling interest and goodwill) connected to the accounting treatment of the acquisition transaction. It also determines the infor- mation to be disclosed concerning such transactions. (3)  The consultation with the Technical Expert Group (TEG) of the European Financial Reporting Advisory Group (EFRAG) confirms that the revised IFRS 3 meets the technical criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002. In accordance with Commission Decision 2006/505/EC of 14 July 2006 setting up a Standards Advice Review Group to advise the Commission on the objectivity and neutrality of the European  Financial ~Reporting  Advisory — Group’s (EFRAG’s) opinions (), the Standards Advice Review Group considered EFRAG's opinion on endorsement and advised the Commission that it is well-balanced and objective. OJ L 243, 11.9.2002, p. 1. () OJ L 320, 29.11.2008, p. 1. OJ L 199, 21.7.2006, p. 33. (4)  The adoption of the revised IFRS 3 implies, by way of consequence, amendments to IFRS 1, IFRS 2, IFRS 7, International Accounting Standard (IAS) 12, IAS 16, IAS 28, TIAS 32, IAS 33, IAS 34, 1AS 36, IAS 37, IAS 38, TIAS 39 and Interpretation 9 of the International Financial Reporting Interpretations Committee (IFRIC) in order to ensure consistency between international accounting standards. (5)  Regulation (EC) No 1126/2008 should therefore be amended accordingly. (6)  The measures provided for in this Regulation are in accordance with the opinion of the Accounting Regu- latory Committee, HAS ADOPTED THIS REGULATION: Article 1 The Annex to Regulation (EC) No 1126/2008 is amended as follows: 1. International Financial Reporting Standard (IFRS) 3 Business Combinations is replaced by the revised IFRS 3 as set out in the Annex to this Regulation; 2. IFRS 1, IFRS 2, IFRS 7, International Accounting Standard (TAS) 12, TAS 16, TIAS 28, TIAS 32, TAS 33, TIAS 34, IAS 36, IAS 37, IAS 38, IAS 39 and Interpretation 9 of the Inter- national Financial Reporting Interpretations Committee (IFRIC) are amended in accordance with the amendments to IFRS 3 as set out in the Annex to this Regulation. Article 2 Each company shall apply the revised IFRS 3 as set out in the Annex to this Regulation, at the latest, as from the commencement date of its first financial year starting after 30 June 2009.