CTHRepealedLegislation
Financial Sector (Collection of Data) determination No. 88 of 2005 - Reporting Standard ARS 320.9 (2005) - Intra-Group Receivables and Payables
Netting is permitted in accordance with Netting is permitted in accordance with the requirements of the Australian accounting standards (i.e. were there is a legal right to set off the recognised amounts and there is an intention to settle on a net basis, or realise the assets and settle the liability simultaneously).
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) determination No. 88 of 2005 - Reporting Standard ARS 320.9 (2005) - Intra-Group Receivables and Payables.
Netting is permitted in accordance with the requirements of the Australian accounting standards (i.e. were there is a legal right to set off the recognised amounts and there is an intention to settle on a net basis, or realise the assets and settle the liability simultaneously).
Note: Loans and advances are investments of the ADI, which are deemed for this form not to be evidenced by the financing/issue of debt securities (e.g. bill financing).
Include:
- Loans to related parties that are resident (i.e. loans included in Intra-group loans and advances on ARF 320.0 Statement of Financial Position (Domestic Books)).
Exclude:
- Holdings of debt securities issued by related parties that are resident entities; and
- Other accounts receivable (e.g. fees & commissions receivable) from related parties that are resident entities.