Transitional provisions (AASB5_08-15_COMPmar20_07-21)

The following transitional paragraph shall not be applied by entities that have previously applied this Standard, unless required to do so by another Australian Accounting Standard.

The Standard shall be applied prospectively to non-current assets (or disposal groups) that meet the criteria to be classified as held for sale and operations that meet the criteria to be classified as discontinued after the effective date of the Standard. An entity may apply the requirements of the Standard to all non-current assets (or disposal groups) that meet the criteria to be classified as held for sale and operations that meet the criteria to be classified as discontinued after any date before the effective date of the Standard, provided the valuations and other information needed to apply the Standard were obtained at the time those criteria were originally met.