If the entity adopted IFRS 9 ahead of IFRS 17, then at the date of initial application it may re-run the business-model test for eligible financial assets (assets held for activities connected with in-scope contracts, not banking assets or assets of out-of-scope investment funds); it shall revoke an FVTPL designation where the accounting-mismatch condition is no longer met; it may make a new FVTPL designation where that condition now holds; and it may make or revoke the OCI election for equity investments. These choices are based on the facts existing at the date of initial application and applied retrospectively using the IFRS 9 transition requirements, treating that date as the IFRS 9 date of initial application. Restating prior periods is not required and is allowed only if it can be done without hindsight; otherwise the difference is taken to opening retained earnings. Disclosure, by class, covers the basis for deciding eligibility, the measurement category and carrying amount before and after the change, the carrying amount of assets no longer designated, and qualitative information explaining how and why classifications changed.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.