46Paragraphs 61 and 66-70 and the headings above paragraphs 63, 66 and 67 are deleted.

46 Paragraphs 61 and 66-70 and the headings above paragraphs 63, 66 and 67 are deleted.

47 The heading ‘Impairment and uncollectibility of financial assets’ above paragraph 58, and paragraphs 58 and 63 are amended to read as follows:

Impairment and uncollectibility of finan Impairment and uncollectibility of financial assets measured at amortised cost

Impairment and uncollectibility of financial assets measured at amortised cost

58 An entity shall assess at the end of each reporting period whether there is any objective evidence that a financial asset or group of financial assets measured at amortised cost is impaired. If any such evidence exists, the entity shall apply paragraph 63 to determine the amount of any impairment loss.

63 If there is objective evidence that an impairment loss on financial assets measured at amortised cost has been incurred, the amount of the loss is measured as …