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AASB 131 - Interests in Joint Ventures - July 2004
Joint ControlJoint Control
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Joint Control
8 Joint control may be precluded when an investee is in legal reorganisation or in bankruptcy, or operates under severe long-term restrictions on its ability to transfer funds to the venturer. If joint control is continuing, these events are not enough in themselves to justify not accounting for joint ventures in accordance with this Standard.