Document ID: chunk:federal_register_of_legislation:F2025C00172:body:0:p8
Version: federal_register_of_legislation:F2025C00172
Segment Type: other
Provision Reference: 
Character Range: 19273–22470

3 when it obtains control of another entity. Instead, an investment entity shall measure an investment in a subsidiary at fair value through profit or loss in accordance with AASB 9.[1]
32 Notwithstanding the requirement in paragraph 31, if an investment entity has a subsidiary that is not itself an investment entity and whose main purpose and activities are providing services that relate to the investment entity's investment activities (see paragraphs B85C–B85E), it shall consolidate that subsidiary in accordance with paragraphs 19–26 of this Standard and apply the requirements of AASB 3 to the acquisition of any such subsidiary.
33 A parent of an investment entity shall consolidate all entities that it controls, including those controlled through an investment entity subsidiary, unless the parent itself is an investment entity.

Commencement of the legislative instrument
Aus33.1 [Repealed]

Withdrawal of AASB pronouncements
Aus33.2 This Standard repeals AASB 10 Consolidated Financial Statements issued in August 2011.  Despite the repeal, after the time this Standard starts to apply under section 334 of the Corporations Act (either generally or in relation to an individual entity), the repealed Standard continues to apply in relation to any period ending before that time as if the repeal had not occurred.
[Note: When this Standard applies under section 334 of the Corporations Act (either generally or in relation to an individual entity), it supersedes the application of the repealed Standard.]

Appendix A
Defined terms
This appendix is an integral part of the Standard.
consolidated financial statements  The financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic entity.
control of an investee             An investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee.
decision maker                     An entity with decision-making rights that is either a principal or an agent for other parties.
group                              A parent and its subsidiaries.
investment entity                  An entity that:
                                   (a) obtains funds from one or more investors for the purpose of providing those investor(s) with investment management services;
                                   (b) commits to its investor(s) that its business purpose is to invest funds solely for returns from capital appreciation, investment income, or both; and
                                   (c) measures and evaluates the performance of substantially all of its investments on a fair value basis.
non-controlling interest           Equity in a subsidiary not attributable, directly or indirectly, to a parent.
parent                             An entity that controls one or more entities.
power                              Existing rights that give the current ability to direct the relevant activities.
protective rights                  Rights designed to protect