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Under IFRS 9 the choice to remeasure equity investments is not allowed.
Debt investments can be reclassified only if there is a change in the business model ie objective of holding the investment changes that significantly affects the operations. So 2 test will be conducted to account for which method to use among the three:
2. Contractual CF test: Are you holding the securities to collect coupon and principal redemption? Shown at Amoertised cost.
Hope this helps!