23Contingent liabilities

## 23 Contingent liabilities (1) The accounts as at the end of a financial period must include a note stating, so far as practicable, the total, or an estimate of the total, of any contingent liabilities of the company as at the end of that period if that amount is material. (2) A note stating an amount of contingent liabilities must state how much of that amount arises for each of the following categories: (a) the company; and (b) related body corporate; and (c) corporations the management or operating policies of which can be significantly influenced by the company or by a related body corporate; and (d) business undertakings the management or operating policies of which can be significantly influenced by the company or by a related body corporate or in which the right or interest of the company or a related body corporate is material; and (e) other persons; and give particulars of those liabilities for each category. (3) The consolidated accounts for a financial period must include a note stating for all entities in an economic entity, so far as practicable, the total, or an estimate of the total, of any contingent liabilities of those entities as at the end of that period if that total is material to those entities. (4) A note stating the total of the contingent liabilities of the entities in an economic entity (in this subclause referred to as “the subject entities”) must state how much of that total arises for each of the following categories: (a) the subject entities; and (b) related entities of the subject entities not being entities in that economic entity; and (c) the entities, other than entities referred to in paragraph (a) or (b), the management or operating policies of which can be significantly influenced by any of the subject entities, or by a related entity of any of the subject entities; and (d) the business undertakings the management or operating policies of which can be significantly influenced by any of the subject entities, or by a related entity of any of the subject entities, or in which a right or interest of any of the subject entities, or of a related entity of any of the subject entities, is material; and (e) other persons; and give particulars of those liabilities for each category. (5) Subject to subclause (6), the amount and particulars for a category referred to in subclause (2) or (4) may be expressed as a total. (6) If the contingent liabilities in a category differ substantially in nature, the information given for that category must be sufficient to enable the amount and nature of those liabilities to be distinguished.