EnglishAl,
I don't have the bandwidth here to download it and quote the paragraph, but if you go find Lynch's current Part 61 FAQ (Feb 2005 I think) you will find his take on approaches for currency. I think he says the presumption is that the approach completes at DH or MAP/MDA. I think he says you cannot just break off at the FAF and expect it to count. i.e if you are actual, you need to fly to minimum to log it. In practice this means going missed for most people who would have a higher personal minimum (I hope!)
IO540, no idea. In the States, they fly under part 121. I guess their 6 monthly check keeps them current.