1. The Member States may declare to the Commission that they reserve the power, by way of derogation from Article 32 and pending subsequent coordination, to permit or require in respect of all companies or any classes of companies:
(a) valuation by the replacement value method for tangible fixed assets with limited useful economic lives and for stocks;
(b) valuation by methods other than that provided for in (a) which are designed to take account of inflation for the items shown in annual accounts, including capital and reserves;
(c) revaluation of fixed assets.
Where national law provides for valuation methods as indicated in (a), (b) and (c), it must define their content and limits and the rules for their application.
The application of any such method, the balance sheet and profit and loss account items concerned and the method by which the values shown are calculated shall be disclosed in the notes on the accounts.
(a) Where paragraph 1 is applied, the amount of the differe