AASB 2010-7 - Amendments to Australian Accounting Standards arising from AASB 9 (December 2010) - December 2010
31Paragraph IG7 is amended to read as follows:
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31 Paragraph IG7 is amended to read as follows:
IG7 AASB 9 Financial Instruments does not apply to interests in subsidiaries, associates and jointly controlled entities that are consolidated, accounted for using the equity method or proportionately consolidated in accordance with AASB 127, AASB 128 and AASB 131 respectively. When instruments containing potential voting rights in substance currently give access to the economic benefits associated with an ownership interest, and the investment is accounted for in one of the above ways, the instruments are not subject to the requirements of AASB 9. In all other cases, instruments containing potential voting rights are accounted for in accordance with AASB 9.