103AASB 17, issued in July 2017, amended paragraph 5\. An entity shall apply that amendment when it applies AASB 17.

103 AASB 17, issued in July 2017, amended paragraph 5\. An entity shall apply that amendment when it applies AASB 17.

AASB 138 Intangible Assets (August 2015, as amended)

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3 If another Standard prescribes the accounting for a specific type of intangible asset, an entity applies that Standard instead of this Standard. For example, this Standard does not apply to:
(g) deferred acquisition costs, and intangible assets, arising from an insurer’s contractual rights under insurance contracts within the scope of AASB 4 AASB 17 Insurance Contracts and any assets for insurance acquisition cash flows as defined in AASB 17. AASB 4 sets out specific disclosure requirements for those deferred acquisition costs but not for those intangible assets. Therefore, the disclosure requirements in this Standard apply to those intangible assets.
(h) ...

Transitional provisions and effective date

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130M AASB 17, issued in July 2017, amended paragraph 3\. AASB 2020-5 Amendments to Australian Accounting Standards – Insurance Contracts, issued in July 2020, further amended paragraph 3. An entity shall apply that amendment when it applies AASB 17.

AASB 140 Investment Property (August 2015, as amended)

Accounting policy

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32B Some insurers and other entities operate, either internally or externally, an investment an internal property fund that provides investors with benefits determined by units in the fund. issues notional units, with some units held by investors in linked contracts and others held by the entity. Similarly, some entities issue insurance contracts with direct participation features, for which the underlying items include investment property. For the purposes of paragraphs 32A–32B only, insurance contracts include investment contracts with discretionary participation features. Paragraph 32A does not permit an entity to measure the property held by the fund (or property that is an underlying item) partly at cost and partly at fair value. (See AASB 17 Insurance Contracts for terms used in this paragraph that are defined in that Standard.)
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