Document ID: chunk:federal_register_of_legislation:F2023C00382:front:0:p101
Version: federal_register_of_legislation:F2023C00382
Segment Type: other
Provision Reference: 
Character Range: 265692–268647

for lease liabilities.
30 [Deleted]In the case described in paragraph 29(c), an entity shall disclose information to help users of the financial statements make their own judgements about the extent of possible differences between the carrying amount of those contracts and their fair value, including:
(a) the fact that fair value information has not been disclosed for these instruments because their fair value cannot be measured reliably;
(b) a description of the financial instruments, their carrying amount, and an explanation of why fair value cannot be measured reliably;
(c) information about the market for the instruments;
(d) information about whether and how the entity intends to dispose of the financial instruments; and
(e) if financial instruments whose fair value previously could not be reliably measured are derecognised, that fact, their carrying amount at the time of derecognition, and the amount of gain or loss recognised.
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Effective date and transition
 …
44DD AASB 17, issued in July 2017, amended paragraphs 3, 8 and 29 and deleted paragraph 30. AASB 2020-5 Amendments to Australian Accounting Standards – Insurance Contracts, issued in July 2020, further amended paragraph 3. An entity shall apply those amendments when it applies AASB 17.

AASB 9 Financial Instruments (December 2014, as amended)

Paragraph 2.1 is amended. Paragraphs 3.3.5 and 7.1.6 are added. A new heading and paragraphs 7.2.36–7.2.42 are added.

Chapter 2 Scope
2.1 This Standard shall be applied by all entities to all types of financial instruments except:
(a) …
(e) rights and obligations arising under (i) an insurance contract as defined in AASB 4 AASB 17 Insurance Contracts, other than an issuer's rights and obligations arising under an insurance contract that meets the definition of a financial guarantee contract, or an investment contract with discretionary participation features within the scope of AASB 17. or (ii) a contract that is within the scope of AASB 4 because it contains a discretionary participation feature. However, this Standard applies to:
               (i) derivatives a derivative that are is embedded in a contracts within the scope of AASB 4 AASB 17, if the derivatives are not themselves contracts derivative is not itself a contract within the scope of AASB 4 AASB 17.
               (ii) investment components that are separated from contracts within the scope of AASB 17, if AASB 17 requires such separation, unless the separated investment component is an investment contract with discretionary participation features within the scope of AASB 17.
               (iii) an issuer's rights and obligations under insurance contracts that meet the definition of a financial guarantee contract. However Moreover, if an issuer of financial guarantee contracts has previously asserted explicitly that it regards such contracts as insurance contracts and has used accounting that is applicable to insurance contracts,