19 MAY 2005

NEW ZEALAND GAZETTE, No. 80

● to apply to annual accounting periods commencing on
or after 1 January 2007;
● save for the amendments set out in paragraphs 93A-93D,
to apply to annual accounting periods commencing
on or after 1 January 2006, when an entity complies
with either New Zealand Equivalent to International
Financial Reporting Standard 1 First-time Adoption of
New Zealand Equivalents to International Financial
Reporting Standards or with this standard in accordance
with Financial Reporting Standard 40 Transitional
Arrangements for the Early Adoption of the New Zealand
Equivalent to IAS 19 Employee Benefits;
● to apply to annual accounting periods commencing on
or after 1 January 2005, where the amendments set out
in paragraphs 93A-93D are applied and when an
entity complies with either New Zealand Equivalent to
International Financial Reporting Standard 1 First-time
Adoption of New Zealand Equivalents to International
Financial Reporting Standards or with this standard
in accordance with Financial Reporting Standard 40
Transitional Arrangements for the Early Adoption of
the New Zealand Equivalent to IAS19 Employee Benefits;
and
● a Regulation for the purposes of the Regulations
(Disallowance) Act 1989.

Early adoption of Amendments to New Zealand Equivalent
to International Accounting Standard 19 Employee Benefits
– Actuarial Gains and Losses, Group Plans and Disclosures
(together with the consequential amendments) is permitted
for annual accounting periods commencing on or after
1 January 2005, but only where an entity complies with
either New Zealand Equivalent to International Financial
Reporting Standard 1 First-time Adoption of New Zealand
Equivalents to International Financial Reporting Standards
or with this standard in accordance with Financial Reporting
Standard 40 Transitional Arrangements for the Early
Adoption of the New Zealand Equivalent to IAS 19 Employee
Benefits.

Copies of the Amendments to New Zealand Equivalent to
International Accounting Standard 19 Employee Benefits –
Actuarial Gains and Losses, Group Plans and Disclosures
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 110-342), Wellington, and
27-33 Ohinerau Street (P.O. Box 3334), Auckland.

Dated this 17th day of May 2005.

WARWICK HUNT, Chairman, Accounting Standards
Review Board.

gs3035

Approval of Amendments to New Zealand
Equivalent to International Accounting Standard 36
Impairment of Assets – Impairment of Non–cash
Generating Assets by Public Benefit Entities
(Notice No. 37)

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 a financial
reporting standard for the purposes of the Act, Amendments
to New Zealand Equivalent to International Accounting
Standard 36 Impairment of Assets – Impairment of Non-cash
Generating Assets by Public Benefit Entities, which has
been submitted to it by the Institute of Chartered
Accountants of New Zealand.

Amendments to New Zealand Equivalent to International
Accounting Standard 36 Impairment of Assets – Impairment
of Non-cash Generating Assets by Public Benefit Entities is:

● to apply to public benefit entities (as defined in paragraph
NZ 6.1 of New Zealand Equivalent to International
Financial Reporting Standard 36 Impairment of Assets);
● to apply to annual accounting periods commencing on
or after 1 January 2007;
● to apply to annual accounting periods commencing on
or after 1 January 2006, when a public benefit entity
complies with New Zealand Equivalent to International
Financial Reporting Standard 1 First-time Adoption of
New Zealand Equivalents to International Financial
Reporting Standards; and
● a Regulation for the purposes of the Regulations
(Disallowance) Act 1989.

Early adoption of Amendments to New Zealand Equivalent
to International Accounting Standard 36 Impairment of
Assets – Impairment of Non-cash Generating Assets by
Public Benefit Entities is permitted for annual accounting
periods commencing on or after 1 January 2005, but only
where a public benefit entity complies with New Zealand
Equivalent to International Financial Reporting Standard
1 First-time Adoption of New Zealand Equivalents to
International Financial Reporting Standards.

Copies of the Amendments to New Zealand Equivalent to
International Accounting Standard 36 Impairment of Assets
– Impairment of Non-cash Generating Assets by Public
Benefit Entities 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 110-342), Wellington, and
27-33 Ohinerau Street (P.O. Box 3334), Auckland.

Dated this 17th day of May 2005.

WARWICK HUNT, Chairman, Accounting Standards
Review Board.

gs3036

Approval of Amendments to New Zealand
Equivalent to International Accounting Standard 39
Financial Instruments: Recognition and
Measurement – Transitional and Initial Recognition
of Financial Assets and Financial Liabilities
(Notice No. 38)

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 a financial
reporting standard for the purposes of the Act, Amendments
to New Zealand Equivalent to International Accounting
Standard 39 Financial Instruments: Recognition and
Measurement – Transitional and Initial Recognition of
Financial Assets and Financial Liabilities (and the
consequential amendments to NZ IFRS 1 First-time Adoption
of International Financial Reporting Standards set out
in this standard (“the consequential amendments”)), which
has 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 – Transitional and Initial Recognition of
Financial Assets and Financial Liabilities (together with the
consequential amendments) is:

● 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, or 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