19Paragraph 64F is added as follows:

19 Paragraph 64F is added as follows:

64F AASB 2011-8 Amendments to Australian Accounting Standards arising from AASB 13, issued in September 2011, amended paragraphs 20, 29, 33, 47, amended the definition of fair value in Appendix A and amended paragraphs B22, B40, B43–B46, B49 and B64. An entity shall apply those amendments when it applies AASB 13 Fair Value Measurement.

20 In Appendix B, paragraphs B22 and B40, B43–B46, B49 and B64 are amended as follows (new text is underlined and deleted text is struck through):

B22 Because the consolidated financial statements represent the continuation of the financial statements of the legal subsidiary except for its capital structure, the consolidated financial statements reflect:

(d) the amount recognised as issued equity interests in the consolidated financial statements determined by adding the issued equity interest of the legal subsidiary (the accounting acquirer) outstanding immediately before the business combination to the fair value of the legal parent (accounting acquiree) determined in accordance with this Standard. However, …

B40 The identifiability criteria determine whether an intangible asset is recognised separately from goodwill. However, the criteria neither provide guidance for measuring the fair value of an intangible asset nor restrict the assumptions used in estimating measuring the fair value of an intangible asset. For example, the acquirer would take into account the assumptions that market participants would consider use when pricing the intangible asset, such as expectations of future contract renewals, in measuring fair value. …

B43 For To protect its competitive position, or for other reasons, the acquirer may intend not to use an acquired non-financial asset actively, for example, a research and development intangible asset, or it may not intend to use the asset in a way that is different from the way in which other market participants would use it according to its highest and best use. For example, that might be the case for an acquired research and development intangible asset that the acquirer plans to use defensively by preventing others from using it. Nevertheless, the acquirer shall measure the fair value of the non-financial asset at fair value determined in accordance with assuming its highest and best use by other market participants in accordance with the appropriate valuation premise, both initially and when measuring fair value less costs of disposal for subsequent impairment testing.

B44 This Standard allows the acquirer to measure a non-controlling interest in the acquiree at its fair value at the acquisition date. Sometimes an acquirer will be able to measure the acquisition-date fair value of a non-controlling interest on the basis of a quoted price in an active market prices for the equity shares (i.e. those not held by the acquirer). In other situations, however, a quoted price in an active market price for the equity shares will not be available. In those situations, the acquirer would measure the fair value of the non-controlling interest using another valuation techniques.