3An entity shall apply this Standard to all leases, including leases of right-of-use assets in a sublease, except for:

3 An entity shall apply this Standard to all leases, including leases of right-of-use assets in a sublease, except for:

(a) leases to explore for or use minerals, oil, natural gas and similar non-regenerative resources;

(b) leases of biological assets within the scope of AASB 141 Agriculture held by a lessee;

(c) service concession arrangements within the scope of Interpretation 12 Service Concession Arrangements as identified in AASB 1048 Interpretation of Standards;

(d) licences of intellectual property granted by a lessor within the scope of AASB 15 Revenue from Contracts with Customers; and

(e) rights held by a lessee under licensing agreements within the scope of AASB 138 Intangible Assets for such items as motion picture films, video recordings, plays, manuscripts, patents and copyrights.

Aus3.1 This Standard does not apply to service concession assets recognised in accordance with AASB 1059 Service Concession Arrangements: Grantors.

Aus3.2 Notwithstanding paragraph 3, in respect of not-for-profit public sector licensors, this Standard also applies to licences that are in substance leases or contain leases, excluding licences of intellectual property. AASB 15 applies to licences of intellectual property.  AASB 15 also applies to licences of non-intellectual property that, in substance, are not leases or do not contain leases.

4 A lessee may, but is not required to, apply this Standard to leases of intangible assets other than those described in paragraph 3(e).

Recognition exemptions (paragraphs B3–B8)