Section 43 - AASB 2010-7 - Amendments to Australian Accounting Standards arising from AASB 9 (December 2010) - December 2010 - Paragraph 8 is amended to read as follows:

43 Paragraph 8 is amended to read as follows:

8 The terms defined in AASB 9 and AASB 132 are used in this Standard with the meanings specified in Appendix A of AASB 9 and paragraph 11 of AASB 132. AASB 9 and AASB 132 define the following terms:

(a) derecognition;

(b) derivative;

(d) fair value;

(e) financial asset;

(f) financial guarantee contract;

(g) financial instrument; and

(h) financial liability;

and provide guidance on applying those definitions.

44 In paragraph 9, the titles and definitions for ‘Definition of a Derivative’, ‘Definitions of Four Categories of Financial Instruments’ and ‘Definition of a Financial Guarantee Contract’ are deleted. In ‘Definitions Relating to Recognition and Measurement’, the definitions ‘Derecognition’, ‘Fair value’ and ‘A regular way purchase or sale’ are deleted.

43Paragraph 8 is amended to read as follows:

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