(1) Commission Regulation (EC) No 1569/2007 of 21 December 2007 establishing a mechanism for the determination of equivalence of accounting standards applied by third country issuers of securities pursuant to Directives 2003/71/EC and 2004/109/EC of the European Parliament and of the Council is amended as follows.

(2) In Article 1 (subject matter) -

(a) after "considered" insert "for the specified purposes as";

(b) for the words from "International" to "IFRS)" substitute "UK-adopted international accounting standards";

(c) [deleted]

(3) In Article 2 (equivalence) -

(a) after "considered" insert "for the specified purposes as";

(b) for the words from "IFRS adopted" to "No 1606/2002" substitute "UK-adopted international accounting standards";

(c) for "in accordance with IFRS" substitute "in accordance with UK-adopted international accounting standards".

(4) In Article 3 (equivalence mechanism) -

(a) in the first paragraph -

(i) for "Commission" substitute "Treasury";