Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:24:p1
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 24 (pt 1/2)
Character Range: 152546–156052

24                      For each transaction identified under item 22                                                                                                                                                                                                                                                                                                                                                                          (a) The total of all assets, classified into current and non‑current assets, and, if applicable, any allowance for doubtful receivables at the end of the reporting period
                                                                                                                                                                                                                                                                                                                                                                                                                                               (b) The total of all liabilities, classified into current and non‑current liabilities

 (2) For items 6, 7, 8, 9 and 11 of the table:
 (a) the information of the kind described in the item for the previous financial year must also be disclosed in the financial year to which the item relates (to give comparative information for the purposes of the item); but
 (b) paragraph (a) does not apply in relation to the first financial year in which paragraph 300A(1)(c) of the Act applies in relation to a person.
Note: The effect of paragraph (b) is that no comparative information is required in the first period of reporting on a specific individual.
 (3) For items 15 to 19 of the table, a disclosure required by the item must:
 (a) be separated into each class of equity instrument; and
 (b) identify each class of equity instrument by:
 (i) the name of the disclosing entity or the relevant subsidiary that issued the equity instrument; and
 (ii) the class of equity instrument; and
 (iii) if the instrument is an option or right—the class and number of equity instruments for which it may be exercised.
 (3A) For items 20 and 21 of the table in subregulation (1), loans do not include loans involved in transactions that are in substance options, including non‑recourse loans.
 (3B) A transaction with, or an amount that is receivable from or payable under a transaction to, a key management person, a close member of the family of that person, or an entity over which the person or the family member has, directly or indirectly, control, joint control or significant influence, is excluded from the requirements of items 22 to 24 if:
 (a) the transaction occurs within a normal employee, customer or supplier relationship on terms and conditions no more favourable than those that it is reasonable to expect the entity would have adopted if dealing at arms‑length with an unrelated person; and
 (b) information about the transaction does not have the potential to affect adversely decisions about the allocation of scarce resources made by users of the financial statements, or the discharge of accountability by the key management person; and
 (c) the transaction is trivial or domestic in nature.
 (3C) Items 17 to 24 of the table in subregulation (1) apply in relation to a directors' report for a financial year commencing on or after 1 July 2013.
 (4) For subregulation (1), a company must apply the requirements of relevant accounting standards when disclosing the