10Disclosures of Other Transactions and Balances

10          Disclosures of Other Transactions and Balances

10.1       In respect of transactions during the reporting period between the disclosing entity (and any of its subsidiaries) and the specified directors (including their personally-related entities), other than transactions covered by Sections 7 to 9 or excluded by paragraph 10.5, the following details must be disclosed:

(a)      each type of transaction of different nature;

(b)     the terms and conditions of each type of transaction or, where there are different categories of terms and conditions within each type, the terms and conditions of each category of transaction; and

(c)      for each type of transaction or, where there are different categories within each type, each category of transaction:

(i)         the names of the directors involved; and

(ii)       the aggregate amount recognised.

10.2       In respect of transactions during the reporting period between the disclosing entity (and any of its subsidiaries) and the specified executives (including their personally-related entities), other than transactions covered by Sections 7 to 9 or excluded by paragraph 10.5, the same details required by paragraph 10.1 for specified directors must be disclosed for specified executives.

10.3       In respect of each aggregate amount disclosed in accordance with paragraphs 10.1 and 10.2, the following details must be disclosed:

(a)      the total of amounts recognised as revenue, separately identifying where applicable the total amounts recognised as:

(i)         interest revenue; and

(ii)       dividend revenue;

(b)     the total of amounts recognised as expense, separately identifying where applicable the total amounts recognised as:

(i)         interest expense; and

(ii)       write-downs of receivables and allowances made for doubtful receivables; and

(c)      any further disclosures necessary to provide an understanding of the effects of the transactions on the financial statements.

10.4       In respect of assets and liabilities at the reporting date recognised in relation to transactions identified in accordance with paragraphs 10.1 and 10.2, disclosure must be made of:

(a)      the total of all assets, classified into current and non-current assets and, where applicable, any allowance for doubtful receivables at the reporting date; and

(b)     the total of all liabilities, classified into current and non-current liabilities.

10.4.1  Transactions between a disclosing entity or any of its subsidiaries and its specified directors and specified executives may occur only because of the relationship.  Directors and executives hold positions of fiduciary responsibility in relation to an entity and are accountable to those who provide resources to the entity, through disclosure of their transactions with the entity.  Examples of such transactions include goods or services provided or received, property, plant and equipment leased to or from an entity in the economic entity and sales, purchases or transfers of assets at fair value or otherwise.  For example, if a disclosing entity had an investment in the equity of a company controlled by a specified director, then dividends received from that company would be disclosed in accordance with paragraph 10.3(a)(ii) and the investment in accordance with paragraph 10.4(a).