This version of IAS 39 does not contain the amendments by IFRS 9 and can therefore be used by those insurers utilising the exemption effected by Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Amendments to IFRS 4).
See IAS 39: Financial Instruments: Recognition and Measurement as amended by IFRS 9
8 The terms defined in IAS 32 are used in this Standard with the meanings specified in paragraph 11 of IAS 32. IAS 32 defines the following terms:
• financial instrument
• financial asset
• financial liability
• equity instrument
and provide guidance on applying those definitions.
9 The following terms are used in this Standard with the meanings specified:
A "derivative" is a financial instrument or other contract within the scope of this Standard (see paragraphs 2-7) with all three of the following characteristics: (a) its value changes in response to the change in a specified interest rate, financial instrument price, commodit
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