35Interests in corporations not being subsidiaries

## 35 Interests in corporations not being subsidiaries (1) In this clause, interest includes shares in a corporation, convertible notes issued by a corporation and loans and advances made to a corporation. (2) If at the end of a financial period: (a) a company has an interest in a corporation that is not a subsidiary of the company; and (b) the interest is material to the company; the accounts of the company for that financial period must include a note, in relation to that corporation, stating particulars of: (c) its name; and (d) its principal activities; and (e) the percentage of each class of its issued shares that are held by the company; and (f) its separate contribution to the profit or loss of the company; and (g) the amount of that interest at the end of that period showing separately: (i) the total amount of that interest in shares and convertible notes in the corporation; and (ii) the amount of any loans or advances to the corporation. (3) If at the end of a financial period: (a) an entity or entities in an economic entity has an interest in an entity that is not a related entity (in this subclause referred to as the subject entity); and (b) the interest is material to the economic entity; consolidated accounts for that financial period must include a note, in relation to the subject entity, stating particulars of: (c) its name; and (d) its principal activities; and (e) the percentage of each class of its issued shares that are held by the entity or entities in the economic entity; and (f) its separate contribution to the profit or loss of the economic entity; and (g) the amount of that interest at the end of that period showing separately: (i) the total amount of that interest in shares and convertible notes in the subject entity; and (ii) the amount of any loans or advances to the subject entity. (4) For the purposes of subclauses (2) and (3): (a) in determining whether or not an interest is material; or (b) in showing the amount of any loans or advances made to a corporation; inter-company loans and advances must not be set off against each other. Part 5 Additional requirements in relation to consolidated accounts