Document ID: chunk:federal_register_of_legislation:F2023C00382:front:0:p109
Version: federal_register_of_legislation:F2023C00382
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Character Range: 286659–289574

Standard.)
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Effective date and transition
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45F AASB 17, issued in July 2017, amended paragraph 18. An entity shall apply that amendment when it applies AASB 17.

AASB 132 Financial Instruments: Presentation (August 2015, as amended)

Paragraph 4 is amended. Paragraphs 33A and 97T are added.

Scope
4 This Standard shall be applied by all entities to all types of financial instruments except:
(a) ...
(d) insurance contracts as defined in AASB 4 AASB 17 Insurance Contracts or investment contracts with discretionary participation features within the scope of AASB 17. However, this Standard applies to:
(i) derivatives that are embedded in insurance contracts within the scope of AASB 17, if AASB 9 requires the entity to account for them separately.
(ii) investment components that are separated from contracts 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 within the scope of AASB 17.
               (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) [deleted]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).
(f) ...

Treasury shares (see also paragraph AG36)
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33A Some entities operate, either internally or externally,