Approved Financial Reporting Standard 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, for the purposes
of the Act, an amendment to FRS-37 - Consolidating Investments in Subsidiaries which has been submitted to it
by the Institute of Chartered Accountants of New Zealand.
The amendment clarifies guidance given in the standard by deleting Appendix 2 and the second and third sentences of paragraph 4.37 followed by a consequential deletion of the last sentence in paragraph 5.9.
The approved amendments:
? are to apply to accounting periods and interim accounting periods ending on or after 31 December 2002; and
? are a Regulation for the purposes of the Regulations (Disallowance) Act 1989.
Copies of FRS-37 as amended may be inspected free of charge at, or purchased from, the offices of the Institute
of Chartered Accountants of New Zealand, 40 Mercer Street (P.O. Box 11-342), Wellington, and 27-33 Ohinerau
Street (P.O. Box 3334), Auckland.
Dated this 21st day of October 2002,
JOHN C. HAGEN, Chairman, Accounting Standards Review Board.