Document ID: chunk:federal_register_of_legislation:F2023C00382:front:0:p98
Version: federal_register_of_legislation:F2023C00382
Segment Type: other
Provision Reference: 
Character Range: 257944–260764

amended but excluding AASB 16)

The following amendments apply only when AASB 17 is not applied in conjunction with AASB 16.
Paragraphs 3, 8 and 29 are amended. Paragraph 30 is deleted. Paragraph 44DD is added.

Scope
3 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.
               (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) …

Categories of financial assets and financial liabilities
8 The carrying amounts of each of the following categories, as specified in AASB 9, shall be disclosed either in the statement of financial position or in the notes:
(a) financial assets measured at fair value through profit or loss, showing separately (i) those designated as such upon initial recognition or subsequently in accordance with paragraph 6.7.1 of AASB 9; (ii) those measured as such in accordance with the election in paragraph 3.3.5 of AASB 9; (iii) those measured as such in accordance with the election in paragraph 33A of AASB 132 and (iiiv) those mandatorily measured at