Document ID: chunk:federal_register_of_legislation:F2021L01883:body:0:p5
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application is permitted.  If an entity applies those amendments earlier, it shall disclose that fact.

     Amendments to AASB 128 Investments in Associates and Joint Ventures
     10                    The amendments originally set out in paragraph 11 of AASB 2014‑10 are reversed from AASB 128 (August 2015) for annual periods beginning on or after 1 January 2022 but before 1 January 2025. However, the amendments may be applied to annual periods beginning on or after 1 January 2014 but before 1 January 2025 when applying AASB 128 (August 2015).
     11                    The following amendment to AASB 128 (August 2015) applies to annual periods beginning on or after 1 January 2022, with earlier application permitted.
     12                    Paragraph 45C is amended as follows:
          45C AASB 2014-10 Amendments to Australian Accounting Standards – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture, issued in December 2014, in conjunction with AASB 2015-10 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128, and AASB 2017-5 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 and Editorial Corrections and AASB 2021-7 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 and Editorial Corrections, amended paragraphs 28 and 30 and added paragraphs 31A–31B.  An entity shall apply those amendments prospectively to the sale or contribution of assets occurring in annual periods beginning on or after 1 January 2022 2025.  Earlier application is permitted.  If an entity applies those amendments earlier, it shall disclose that fact.

Editorial corrections from 1 January 2022

     Amendments to AASB 1 First-time Adoption of Australian Accounting Standards
     13                    In paragraph 39AD, the text "deleted paragraph 39AA" is amended to read "deleted paragraphs 39AA and E3–E7".
     14                    In Appendix A, footnote (a) to the definition of 'International Financial Reporting Standards (IFRSs)' is amended as follows:

          (a) Definition of IFRSs amended after the name changes introduced by the revised Constitution of the IFRS Foundation in 2010. Interpretations are identified in AASB 1048 Interpretation of Standards.

     15                    Paragraph D1(o) is deleted and a note "[deleted]" added.
     16                    The text "A similar election is available to an associate … or joint control over it." is not part of paragraph D16(b). It is a continuation of the main text of paragraph D16 and is moved to align with that text.
     17                    Paragraph E8 is amended as follows:

          E8 A first-time adopter … in comparative information in its first IFRS Australian-Accounting-Standards financial statements. An entity that makes that election … at the beginning of its first IFRS Australian-Accounting-Standards reporting period.

     Amendments to AASB 2 Share-based Payment
     18                    In paragraph IG17 of the Implementation Guidance accompanying AASB 2,