Document ID: chunk:federal_register_of_legislation:C2025C00182:section:229
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 229
Character Range: 589610–590510

229  Generic and specific standards
 (1) Applicable standards made or formulated by the AASB may:
 (a) be of general or limited application (including a limitation to specified bodies or undertakings); and
 (b) differ according to differences in time, place or circumstance.
 (2) In making and formulating accounting standards, the AASB:
 (a) must have regard to the suitability of a proposed standard for different types of entities; and
 (b) may apply different accounting requirements to different types of entities; and
 (c) must ensure that there are appropriate accounting standards for each type of entity that must comply with accounting standards.
 (3) In formulating sustainability standards, the AASB:
 (a) must have regard to the suitability of a proposed standard for different types of entities; and
 (b) may apply different sustainability requirements to different types of entities.