Document ID: chunk:federal_register_of_legislation:F2023C00406:body:0:p4
Version: federal_register_of_legislation:F2023C00406
Segment Type: other
Provision Reference: 
Character Range: 8790–11726

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) [deleted]
(f) financial instruments, contracts and obligations under share-based payment transactions to which AASB 2 Share-based Payment applies, except for
(i) contracts within the scope of paragraphs 8–10 of this Standard, to which this Standard applies,
(ii) paragraphs 33 and 34 of this Standard, which shall be applied to treasury shares purchased, sold, issued or cancelled in connection with employee share option plans, employee share purchase plans, and all other share-based payment arrangements.
          Aus4.1 Further to paragraph 4, public sector entities shall apply AASB 4 Insurance Contracts to insurance contracts as defined in AASB 4. However, this Standard applies to:
               (a) derivatives that are embedded in insurance contracts within the scope of AASB 4, if AASB 9 requires the entity to account for them separately; and
               (b) financial guarantee contracts if an issuer applies AASB 9 in recognising and measuring the contracts, but AASB 4 shall apply if an issuer elects, in accordance with paragraph 4(d) of AASB 4, to apply AASB 4 in recognising and measuring them.
          Aus4.2 Public sector entities apply AASB 4 to financial instruments that are within the scope of AASB 4 because they contain a discretionary participation feature. The issuer of these instruments is exempt from applying to these features paragraphs 15–32 and AG25–AG35 of this Standard regarding the distinction between financial liabilities and equity instruments. However, these instruments are subject to all other requirements of this Standard. Furthermore, this Standard applies to derivatives that are embedded in these instruments (see AASB 9).
5–
7 [Deleted]
8 This Standard shall be applied to those contracts to buy or sell a non-financial item that can be settled net in cash or another financial instrument, or by exchanging financial instruments, as if the contracts were financial instruments, with the exception of contracts that were entered into and continue to be held for the purpose of the receipt or delivery of a non-financial item in accordance with the entity's expected purchase, sale or usage requirements. However, this Standard shall be applied to