Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:2_228
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 2 cl 228
Character Range: 521306–522078

228  Purposive interpretation of standards

Objects of this Part

 (1) In interpreting an accounting standard made or formulated by the AASB, a construction that would promote the objects of this Part is to be preferred to a construction that would not promote those objects.

Note: Section 224 states the main objects of this Part.

Purposes or objects of particular standard

 (2) In interpreting an accounting standard made or formulated by the AASB, a construction that would promote a purpose or object of the standard (to the extent to which it is not inconsistent with the objects of this Part) is to be preferred to a construction that would not promote that purpose or object. This is so even if the purpose or object is not expressly stated in the standard.