Annex VII

(a)

in Section 8, items 8.2 and 8.2.1 are replaced by the following:

(b)

in Section 8, item 8.2.3, the second subparagraph is replaced by the following: ‘Changes within the accounting framework applicable to the issuer do not require the audited financial statements to be restated. However, where the issuer intends to adopt a new accounting standards framework in its next published financial statements, at least one complete set of financial statements (as defined by IAS 1 Presentation of Financial Statements / IFRS 18 Presentation and Disclosure in Financial Statements), including comparatives, shall be prepared in a form consistent with that which will be adopted in the issuer’s next published annual financial statements, having regard to accounting standards and policies and legislation applicable to such annual financial statements.’;

(c)

in Section 8, item 8.2.a is replaced by the following: ‘Item 8.2.a This paragraph (items 8.2.a, 8.2.a.1, 8.2.a.2 and 8.2.a.3) may be used only for issues of asset-backed securities having a denomination per unit of at least EUR 100 000 or which are to be traded only on a regulated market, and/or a specific section thereof, to which only qualified investors have access for the purpose of trading in the securities. Historical financial information Where, since the date of incorporation or establishment, an issuer has commenced operations and financial statements have been drawn up, the registration document must contain historical financial information covering the last financial year (at least 12 months or such shorter period as the issuer has been in operation) and the audit report in respect of that financial year.’