Document ID: chunk:federal_register_of_legislation:F2023C00394:body:0:p26
Version: federal_register_of_legislation:F2023C00394
Segment Type: other
Provision Reference: 
Character Range: 67580–70508

[Paragraph 9(b)(vi)–(a)(i) and 9(b)(vi)–(a)(ii)]
IE19 If X has significant influence over both Entity A and Entity B, Entities A and B are not related to each other.

Example 5 – Close members of the family holding investments

IE20 A person, X, is the domestic partner of Y. X has an investment in Entity A and Y has an investment in Entity B.

IE21 For Entity A's financial statements, if X controls or jointly controls Entity A, Entity B is related to Entity A when Y has control, joint control or significant influence over Entity B. [Paragraph 9(b)(vi)–(a)(i) and 9(b)(vii)–(a)(i)]
IE22 For Entity B's financial statements, if X controls or jointly controls Entity A, Entity A is related to Entity B when Y has control, joint control or significant influence over Entity B. [Paragraph 9(b)(vi)–(a)(i) and 9(b)(vi)–(a)(ii)]
IE23 If X has significant influence over Entity A and Y has significant influence over Entity B, Entities A and B are not related to each other.

Example 6 – Entity with joint control
IE24 Entity A has both (i) joint control over Entity B and (ii) joint control or significant influence over Entity C.

IE25 For Entity B's financial statements, Entity C is related to Entity B. [Paragraph 9(b)(iii) and (iv)]
IE26 Similarly, for Entity C's financial statements, Entity B is related to Entity C. [Paragraph 9(b)(iii) and (iv)]

Compilation details
Accounting Standard AASB 124 Related Party Disclosures (as amended)

Compilation details are not part of AASB 124.

This compiled Standard applies to annual periods beginning on or after 1 January 2023.  It takes into account amendments up to and including 15 December 2022 and was prepared on 6 April 2023by the staff of the Australian Accounting Standards Board (AASB).

This compilation is not a separate Accounting Standard made by the AASB.  Instead, it is a representation of AASB 124 (July 2015) as amended by other Accounting Standards, which are listed in the table below.

Table of Standards

Standard     Date made    FRL identifier  Commence-ment date  Effective date          Application, saving or transitional provisions
                                                              (annual periods
                                                              … on or after …)

AASB 124     24 Jul 2015  F2015L01621     30 Jun 2016         (beginning) 1 Jul 2016  see (a) below
AASB 2019-1  21 May 2019  F2019L00966     31 Dec 2019         (beginning) 1 Jan 2020  see (b) below
AASB 1060    6 Mar 2020   F2020L00288     30 Jun 2021         (beginning) 1 Jul 2021  see (c) below
AASB 2022-7  15 Dec 2022  F2023L00018     31 Dec 2022         (beginning) 1 Jan 2023  see (d) below

   (a)           Entities may elect to apply this Standard to annual periods beginning on or after 1 January 2014 but before 1 July 2016.
   (b)           Entities may elect to apply this Standard to annual periods beginning before 1 January 2020.
   (c)