33Paragraphs 1, 45\-45B and 51 are amended to read as follows, paragraph 58C is deleted and paragraph 58E is added:

33 Paragraphs 1, 45-45B and 51 are amended to read as follows, paragraph 58C is deleted and paragraph 58E is added:

1 This Standard shall be applied in accounting for interests in joint ventures and the reporting of joint venture assets, liabilities, income and expenses in the financial statements of venturers and investors, regardless of the structures or forms under which the joint venture activities take place. However, it does not apply to venturers’ interests in jointly controlled entities held by:

that are measured at fair value through profit or loss in accordance with AASB 9 Financial Instruments. An entity shall measure such investments at fair value through profit or loss in accordance with AASB 9. A venturer holding such an interest shall make the disclosures required by paragraphs 55 and 56.

45 When an investor ceases to have joint control over an entity, it shall account for any remaining investment in accordance with AASB 9 from that date, provided that the former jointly controlled entity does not become a subsidiary or an associate. From …

45A When an investment ceases to be a jointly controlled entity and is accounted for in accordance with AASB 9, the fair value of the investment when it ceases to be a jointly controlled entity shall be regarded as its fair value on initial recognition as a financial asset in accordance with AASB 9.

45B If an investor loses joint control of an entity, … For example, if a jointly controlled entity has cumulative exchange differences relating to a foreign operation and the investor loses joint control of the entity, the investor shall reclassify to profit or loss the gain or loss previously recognised in other comprehensive income in relation to the foreign operation. If ...

51 An investor in a joint venture that does not have joint control shall account for that investment in accordance with AASB 9 or, if it has significant influence in the joint venture, in accordance with AASB 128.

58C [Deleted by the IASB]

58E AASB 2010-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2010), issued in December 2010, amended paragraphs 1, 45-45B and 51 and deleted paragraph 58C. An entity shall apply those amendments when it applies AASB 9 as issued in December 2010.

Amendments to AASB 132 Amendments to AASB 132

Amendments to AASB 132

34 Paragraphs 3, 4, 12, 23, 31, 42 and 96C are amended to read as follows, paragraph 97F is deleted and paragraph 97H is added:

3 The principles in this Standard complement the principles for recognising and measuring financial assets and financial liabilities in AASB 9 Financial Instruments, and for disclosing information about them in AASB 7 Financial Instruments: Disclosures.