We do not believe the Board should issue the proposed amendments at this time. We refer you to our comment letter responding to D11 Changes in Contributions to Employee Share Purchase Plans dated 1 March 2005. The proposed amendments would codify in the standard the same requirements as the IFRIC were proposing as an interpretation. We believe that the Board should undertake further research and consider alternative approaches that may be better suited to address the wide range of schemes that exist in practice today. We have included in our comment letter a proposed approach that we believe should be considered by the Board prior to issuing a final amendment (as discussed in the responses below).