‘Excluded equity gain or loss’ means a net gain or loss, included in the financial accounting net income or loss of the constituent entity, arising from:
(i) gains and losses arising from changes in the fair value of an ownership interest, except for a portfolio shareholding;
(ii) profits or losses in respect of an ownership interest that is included under the equity method of accounting; and
(iii) gains and losses from the disposal of an ownership interest, except for the disposal of a portfolio shareholding.
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