In its year ended 31 December 2017 Procter Limited, a UK private company has the following financial assets and liabilities in the accounts:

(i) An equity investment in Milner plc, a UK listed company. Procter recognises the investment as an ‘available for sale’ investment under IAS 39 Financial Instruments; Recognition and Measurement.

(ii) An investment in government bonds that are classified as ‘held to maturity’. The bonds only pay interest and principal and Procter Ltd expects to hold the bonds until maturity.

(iii) A financial liability that Procter Ltd unusually measures at fair value through profit and loss. The liability is measured at fair value because Procter has a documented management policy to manage the liability at fair value.

Required:

Discuss how the measurement of the above instruments may change under IFRS 9 Financial Instruments.