1. Irish Company Law
  2. Legislation (IE)
  3. Statutory Instruments
  4. 2015
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  1. European Union (Insurance Undertakings: Financial Statements) Regulations 2015 [S.I. No. 262 of 2015]
  2. Schedule 1 Accounting principles, form and content of entity financial statements (paras. 1-107)
  3. Schedule 1, Part III Accounting principles and valuation rules (paras. 14-52)
  4. Schedule 1, Part III, Section D (paras. 46-52)
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 17 June 2015 - onwards
    Version 1 of 1    

Schedule 1, Part III, Section D (paras. 46-52)

Regulation 3(3).

Fair value accounting rules

Inclusion of financial instruments at fair value

46.

(1) Subject to subparagraphs (2) to (4) and paragraph 47, financial instruments, including derivative financial instruments, may be accounted for at fair value.

(2) Subject to paragraph 49, subparagraph (1) does not apply to financial instruments which constitute liabilities unless -

(a) they are held as part of a trading portfolio; or

(b) they are derivative financial instruments.

(3) Subparagraph (1) does not apply to -

(a) financial instruments (other than derivative financial instruments) held to maturity;

(b) loans and receivables originated by the undertaking and not held for trading purposes;

(c) interests in subsidiary undertakings, associated undertakings and joint ventures;

(d) equity instruments issued by the undertaking;

(e) contracts for contingent consideration in a business combination; and

(f) other financial instruments with such special characteristics that the instrument

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