17Administered Investments in Controlled Entities

17 Administered Investments in Controlled Entities

17.1 The disclosure of administered assets and liabilities of a Department of State must show the total amount of the Commonwealth’s investment in each separate legal entity for which the Portfolio Minister is responsible.

17.2 Changes in the Commonwealth’s ownership interest must be reflected in the carrying amount of such investments;

(a) Contributions by, or distributions to, owners; and

(b) Where the Finance Minister issues a direction to revalue the investment.

17.3 Unless clause 17.2 applies and/or where otherwise required by another accounting policy or accounting standard the amount initially recorded:

(a) in accordance with Australian Accounting Standard 21 (AAS 21): or

(b) in relation to any investments held at 30 June 1997 that were revalued before that date, the amount shown as the carrying amount at 30 June 1997.

must remained fixed as the carrying amount of the investment.