Document ID: chunk:federal_register_of_legislation:F2023C00382:front:0:p108
Version: federal_register_of_legislation:F2023C00382
Segment Type: other
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Character Range: 284053–286914

when it applies AASB 17.

AASB 128 Investments in Associates and Joint Ventures (August 2015, as amended but excluding AASB 2017-1 Amendments to Australian Accounting Standards – Transfers of Investment Property, Annual Improvements 2014 – 2016 Cycle and Other Amendments)

The following amendments apply only when AASB 17 is not applied in conjunction with AASB 2017-1.
Paragraph 18 is amended. Paragraph 45F is added.

Exemptions from applying the equity method
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18 When an investment in an associate or a joint venture is held by, or is held indirectly through, an entity that is a venture capital organisation, or a mutual fund, unit trust and similar entities including investment-linked insurance funds, the entity may elect to measure investments in those associates and joint ventures at fair value through profit or loss in accordance with AASB 9. An example of an investment-linked insurance fund is a fund held by an entity as the underlying items for a group of insurance contracts with direct participation features. For the purposes of this election, insurance contracts include investment contracts with discretionary participation features. (See AASB 17 Insurance Contracts for terms used in this paragraph that are defined in that Standard.)
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Effective date and transition
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45F AASB 17, issued in July 2017, amended paragraph 18. An entity shall apply that amendment when it applies AASB 17.

AASB 128 Investments in Associates and Joint Ventures (August 2015, as amended, including by AASB 2017-1)

The following amendments apply only when AASB 17 is applied in conjunction with AASB 2017-1.
Paragraph 18 is amended. Paragraph 45F is added.

Exemptions from applying the equity method
 …
18 When an investment in an associate or a joint venture is held by, or is held indirectly through, an entity that is a venture capital organisation, or a mutual fund, unit trust and similar entities including investment-linked insurance funds, the entity may elect to measure that investment at fair value through profit or loss in accordance with AASB 9. An example of an investment-linked insurance fund is a fund held by an entity as the underlying items for a group of insurance contracts with direct participation features. For the purposes of this election, insurance contracts include investment contracts with discretionary participation features. An entity shall make this election separately for each associate or joint venture, at initial recognition of the associate or joint venture. (See AASB 17 Insurance Contracts for terms used in this paragraph that are defined in that Standard.)
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Effective date and transition
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45F AASB 17, issued in July 2017, amended paragraph 18. An entity shall apply that amendment when it applies AASB 17.

AASB 132 Financial Instruments: Presentation (August 2015, as amended)

Paragraph 4 is