Notice is hereby given, pursuant to section 29 of the Financial Reporting Act 1993 ("the Act"), that the Accounting Standards Review Board has approved the New Zealand Equivalent to IFRIC Interpretation 19 Extinguishing Financial Liabilities With Equity Instruments (NZ IFRIC 19), which has been submitted to it by the Financial Reporting Standards Board of the
New Zealand Institute of Chartered Accountants.
NZ IFRIC 19 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, the terms of any other approved financial reporting standard or by law;
- to apply to annual periods beginning on or after 1 July 2010; and
- a Regulation for the purposes of the Regulations (Disallowance) Act 1989.
Earlier application of NZ IFRIC 19 is permitted 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 NZ IFRIC 19 may be inspected free of charge at the offices of the New Zealand Institute of Chartered Accountants, Level 7, 50 Customhouse Quay (PO Box 11342), Wellington, and 27-33 Ohinerau Street (PO Box 3334), Auckland.
Copies will also be made available on the institute's website at
Dated this 8th day of December 2009.
KEVIN SIMPKINS, Chairman, Accounting Standards Review Board.