This excerpt taken from the ICI 6-K filed Mar 14, 2006.
i) Profit (loss) on disposal
Under UK GAAP, goodwill that was previously held in reserves was recycled and included within the profit (loss) on disposal calculation. Under IFRS, any goodwill held in reserves is not recycled on disposal. Also, on disposal of an operation under IFRS, ICI will transfer the cumulative amount of exchange differences recognised in equity since the transition date to the income statement as part of the profit and loss on disposal. Under UK GAAP, these cumulative exchange differences remained in reserves.
ii) Post-retirement benefits