Artículo B3.1.2A. IFRS 9 Paragraph B3.1.2A

Unless paragraph 3.1.2 applies, an entity shall recognise a financial asset or financial liability on the date on which the entity becomes party to the contractual provisions of the instrument ( see paragraph 3.1.1 ). A financial asset is derecognised on the date on which the contractual rights to the cash flows expire or the asset is transferred ( see paragraph 3.2.3 ). Unless an entity elects to apply paragraph B3.3.8 , a financial liability is derecognised on the settlement date, which is the date on which the liability is extinguished because the obligation specified in the contract is discharged or cancelled or expires ( see paragraph 3.3.1 ) or the liability otherwise qualifies for derecognition ( see paragraph 3.3.2 ). [ Refer: Basis for Conclusions paragraphs BC3.44-BC3.45 ]