8 DECEMBER 2005

NEW ZEALAND GAZETTE, No. 204

exempted by its terms, the terms of any other approved
financial reporting standard or by law;

● to apply to annual accounting periods beginning on
or after 1 January 2007;

● to apply to annual accounting periods beginning on
or after 1 December 2005, in respect of entities which
elect to comply, or which have complied with
New Zealand Equivalent to International Financial
Reporting Standard 1 First-time Adoption of
New Zealand Equivalents to International Financial
Reporting Standards (NZ IFRS 1) for an annual
accounting period commencing on or after 1 January
2005 and before 1 January 2007; and

● a Regulation for the purposes of the Regulations
(Disallowance) Act 1989.

Early adoption of New Zealand Equivalent to IFRIC
Interpretation 6 Liabilities arising from Participating in a
Specific Market – Waste Electrical and Electronic
Equipment is permitted for annual accounting periods
commencing on or after 1 January 2005 and before
1 December 2005 but only where an entity complies, or has
complied, with New Zealand Equivalent to International
Financial Reporting Standard 1 First-time Adoption of
New Zealand Equivalents to International Financial
Reporting Standards.

Copies of New Zealand Equivalent to IFRIC Interpretation 6
Liabilities arising from Participating in a Specific Market –
Waste Electrical and Electronic Equipment may be
inspected free of charge at, and will be made available
for purchase from, the offices of the Institute of
Chartered Accountants of New Zealand, 40 Mercer Street
(P.O. Box 11-342), Wellington, and 27-33 Ohinerau
Street (P.O. Box 3334), Auckland.

Dated this 16th day of November 2005.

WARWICK HUNT, Chairman, Accounting Standards
Review Board.

gs8200

Approval of New Zealand Equivalent to
International Financial Reporting Standard 7
Financial Instruments – Disclosures and the
Amendments to New Zealand Equivalent to
International Accounting Standard 1 Presentation
of Financial Statements – Capital Disclosures
(Notice No. 57)

Notice is hereby given, pursuant to section 29 of
the Financial Reporting Act 1993 ("the Act"), that the
Accounting Standards Review Board has approved
New Zealand Equivalent to International Financial
Reporting Standard 7 Financial Instruments – Disclosures
and the Amendments to New Zealand Equivalent to
International Accounting Standard 1 Presentation of
Financial Statements – Capital Disclosures (including
all consequential amendments to other New Zealand
Equivalents to International Financial Reporting Standards
in these pronouncements (the "consequential amendments")),
which have been submitted to it by the Institute of Chartered
Accountants of New Zealand.

New Zealand Equivalent to International Financial
Reporting Standard 7 Financial Instruments – Disclosures
and the Amendments to New Zealand Equivalent to
International Accounting Standard 1 Presentation of
Financial Statements – Capital Disclosures (together with
the consequential amendments), are:

● to apply to all reporting entities and groups, the Crown
and all departments, offices of Parliament and
Crown entities, and all local authorities (each of which
is defined in the Act) other than where expressly

5189

exempted by its terms, the terms of any other approved
financial reporting standard or by law;

● to apply to annual accounting periods commencing on
or after 1 January 2007; and

● Regulations for the purposes of the Regulations
(Disallowance) Act 1989.

Early adoption of New Zealand Equivalent to International
Financial Reporting Standard 7 Financial Instruments –
Disclosures and the Amendments to New Zealand Equivalent
to International Accounting Standard 1 Presentation of
Financial Statements – Capital Disclosures (together with
the consequential amendments) is permitted for annual
accounting periods commencing on or after 1 January 2005
and before 1 January 2007 but only where an entity
complies, or has complied, with New Zealand Equivalent to
International Financial Reporting Standard 1 First-time
Adoption of New Zealand Equivalents to International
Financial Reporting Standards.

Copies of New Zealand Equivalent to International
Financial Reporting Standard 7 Financial Instruments –
Disclosures and the Amendments to New Zealand
Equivalent to International Accounting Standard 1
Presentation of Financial Statements – Capital Disclosures
(together with the consequential amendments) may be
inspected free of charge at, and will be made available
for purchase from, the offices of the Institute of
Chartered Accountants of New Zealand, 40 Mercer Street
(P.O. Box 11-342), Wellington, and 27-33 Ohinerau
Street (P.O. Box 3334), Auckland.

Dated this 16th day of November 2005.

WARWICK HUNT, Chairman, Accounting Standards
Review Board.

gs8199

Approval of Amendments to New Zealand
Equivalent to International Accounting Standard
39 Financial Instruments – Recognition and
Measurement and Amendments to New Zealand
Equivalent to International Financial Reporting
Standard 4 Insurance Contracts – Financial
Guarantee Contracts (Notice No. 58)

Notice is hereby given, pursuant to section 29 of
the Financial Reporting Act 1993 ("the Act"), that the
Accounting Standards Review Board has approved, as an
approved financial reporting standard for the purposes of
the Act, Amendments to New Zealand Equivalent to
International Accounting Standard 39 Financial Instruments
– Recognition and Measurement and Amendments to
New Zealand Equivalent to International Financial
Reporting Standard 4 Insurance Contracts – Financial
Guarantee Contracts (including all consequential
amendments to other New Zealand Equivalents to
International Financial Reporting Standards set out in
this Amendment (the "consequential amendments")), which
have been submitted to it by the Institute of Chartered
Accountants of New Zealand.

Amendments to New Zealand Equivalent to International
Accounting Standard 39 Financial Instruments: Recognition
and Measurement and Amendments to New Zealand
Equivalent to International Financial Reporting Standard 4
Insurance Contracts (together with the consequential
amendments) are:

● to apply to all reporting entities and groups, the Crown
and all departments, offices of Parliament and
Crown entities, and all local authorities (each of which
is defined in the Act) other than where expressly
exempted by its terms, the terms of any other approved
financial reporting standard or by law;