Best news I've heard in a long time although some will not be happy that they've shelled out for the full course (how's life, Greaser?)!
From
http://www.caa.co.uk/srg/licensing/whatsnew.asp
Policy Information/Update - JAR IR Training/Credits for ICAO IR Holders 21 June 2002
In our last Policy Update of 1st November 2001 it was stated that an ICAO licence holder with IR, who does not meet the JAR-FCL ATPL experience requirements, shall undergo a full approved training course for the issue of an IR. It was further stated that this policy was being reviewed. We have now received a response from a representative of UK training organisations and the following conversion requirements have been agreed and may be implemented with immediate effect:
“The holder of an IR, issued in accordance with ICAO Annex 1 by a non-JAA State shall, (subject to the notes below), complete all items of the appropriate JAR IR syllabus including at least 15 hours of flight instruction, of which 5 hours may be in a FNPT 1*, or 10 hours in a FNPT 2* or Flight Simulator*, plus any additional training considered necessary by the FTO, plus a 170A Flight Test and a JAR IR Skill Test.”
NOTES:
* Such synthetic training device shall be appropriately approved.
The holder of an ATPL(A) or CPL(A)/IR issued in accordance with ICAO Annex 1 who meets the 1500 hours flying experience requirements on multi-pilot aeroplanes (as PIC or co-pilot) of Appendix 1 to JAR-FCL 1.015 may be exempted from the requirements of the IR(A) modular course prior to undertaking the theoretical knowledge examinations and the IR(A) Skill Test.
Other exceptional cases should continue be referred to the CAA.
These credits shall remain subject to review in discussion with the JAA and representatives of UK training organisations.