RegAlert

Rule · SECP · 29 Mar 2024

SRO 506(I) 2024 Temporary exemption from applying IFRS 9 for Insurers

insurance

The applicability period of the optional temporary exemption from applying IFRS 9 – Financial Instrument, as given in paragraph 20A of IFRS 4 – Insurance Contracts, is extended for annual periods beginning before January 1, 2026. This extension is subject to fulfilling the same conditions as prescribed by paragraph 20B of IFRS 4.

PakistanSecurities and Exchange Commission of Pakistan

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN

-.-.-.-
Islamabad, the 29th March, 2024

NOTIFICATION

S.R.O.506(I)/2024.- In exercise of the powers conferred by section 510, read with subsection (1) of section 225 of the Companies Act, 2017 (Act No. XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to direct that the applicability period of optional temporary exemption from applying IFRS 9 – Financial Instrument as given in para 20A of IFRS 4 – Insurance Contracts (IFRS 4) is extended for annual periods beginning before January 1, 2026 subject to fulfilling the same conditions as are prescribed by para 20B of IFRS 4.

File No. SY/SECP/8/13]

( Bilal Rasul )
Secretary to the Commission

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A newer document in RegAlert amends this one; it applies as amended.

SRO 506(I) 2024 Temporaryexemption from applying IFRS …2024-03-29 · this documentSRO 506(I) 2024 Temporary exemption from applying IFRS 9 for Insurers (2024-03-29)Notification SRO 1336(I)/2025 –Extension in Implementation Date …2025 · SECPNotification SRO 1336(I)/2025 – Extension in Implementation Date of IFRS 17 (2025-07-23)
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Amended 1 time · last 2025-07-23

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