This excerpt taken from the ICI 6-K filed Mar 21, 2007.
Net Investment in a Foreign Operation
In December 2005, the ASB issued an amendment to FRS 23 in respect of an entitys investment in foreign operations. This replicates the amendment to IAS 21 that the Group has adopted in its 2006 consolidated financial statements. The amendment is effective for accounting periods beginning on or after 1 January 2006.