Financial Instruments Puttable at Fair Value and Obligations Arising on Liquidation
The Board held a very brief discussion with the staff on the project. As a result of discussions between staff and individual Board members, it was apparent to the staff that additional analysis was necessary before the staff was in a position to bring a revised proposal to the Board. A brief discussion followed that summarised some of the challenges to the IAS 39 definition of equity that the staff is analysing. The staff expects to present its analysis at the July 2007 meeting.