Document ID: chunk:federal_register_of_legislation:C2014C00749:clause:2_25
Version: federal_register_of_legislation:C2014C00749
Segment Type: clause
Provision Reference: sch 2 cl 25
Character Range: 12449–13093

25  After subsection 705‑70(1)
Insert:

Where liability valued differently for joined group
 (1A) However, if, in accordance with those *accounting standards or statements, the amount of an accounting liability of the joining entity would be different when it became an accounting liability of the joined group, the different amount is treated as the amount of the liability.
Note: Liabilities that the joining entity owes to members of the joined group would not be excluded under subsection (1) or (1A) even though the standards or statements require that they be eliminated in consolidated accounts of a parent entity and its subsidiaries.