3Paragraph Aus10.1 is renumbered as paragraph Aus10.2, and amended as follows (new text is underlined):

3 Paragraph Aus10.1 is renumbered as paragraph Aus10.2, and amended as follows (new text is underlined):

Aus10.2 Notwithstanding paragraphs 10 and Aus10.1, the ultimate Australian parent shall present consolidated financial statements that consolidate its investments in subsidiaries in accordance with this Standard when either the parent or the group is a reporting entity or both the parent and the group are reporting entities.

4 A new paragraph Aus10.1 is added as follows:

Aus10.1 Notwithstanding paragraph 10(d), a parent that meets the criteria in paragraphs 10(a), 10(b) and 10(c) need not present consolidated financial statements if its ultimate or any intermediate parent produces consolidated financial statements available for public use and the parent and its ultimate or intermediate parent are both not-for-profit entities complying with Australian Accounting Standards.