Document ID: chunk:federal_register_of_legislation:F2023C00382:front:0:p100
Version: federal_register_of_legislation:F2023C00382
Segment Type: other
Provision Reference: 
Character Range: 263107–265961

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.
               (iii) an issuer's rights and obligations arising under insurance contracts that meet the definition of Moreover, an issuer shall apply this Standard to financial guarantee contracts if the issuer applies AASB 9 in recognising and measuring the contracts. However, the issuer, but shall apply AASB 4 AASB 17 if the issuer elects, in accordance with paragraph 4(d) of AASB 4 7(e) of AASB 17, to apply AASB 4 AASB 17 in recognising and measuring them the contracts.
(iv) an entity's rights and obligations that are financial instruments arising under credit card contracts, or similar contracts that provide credit or payment arrangements, that an entity issues that meet the definition of an insurance contract if the entity applies AASB 9 to those rights and obligations in accordance with paragraph 7(h) of AASB 17 and paragraph 2.1(e)(iv) of AASB 9.
               (v) an entity's rights and obligations that are financial instruments arising under insurance contracts that an entity issues that limit the compensation for insured events to the amount otherwise required to settle the policyholder's obligation created by the contract, if the entity elects, in accordance with paragraph 8A of AASB 17, to apply AASB 9 instead of AASB 17 to such contracts.
(e) …

Categories of financial assets and financial liabilities
8 The carrying amounts of each of the following categories, as specified in AASB 9, shall be disclosed either in the statement of financial position or in the notes:
(a) financial assets measured at fair value through profit or loss, showing separately (i) those designated as such upon initial recognition or subsequently in accordance with paragraph 6.7.1 of AASB 9; (ii) those measured as such in accordance with the election in paragraph 3.3.5 of AASB 9; (iii) those measured as such in accordance with the election in paragraph 33A of AASB 132 and (iiiv) those mandatorily measured at fair value through profit or loss in accordance with AASB 9.
(b) …

Fair value
 …
29 Disclosures of fair value are not required:
(a) when the carrying amount is a reasonable approximation of fair value, for example, for financial instruments such as short-term trade receivables and payables; or
(b) [deleted]
(c) [deleted]for a contract containing a discretionary participation feature (as described in AASB 4) if the fair value of that feature cannot be measured reliably; or
(d) 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