Document ID: chunk:federal_register_of_legislation:F2023C00419:body:0:p29
Version: federal_register_of_legislation:F2023C00419
Segment Type: other
Provision Reference: 
Character Range: 74188–77178

The following information is disclosed:
Litigation is in process against the company relating to a dispute with a competitor who alleges that the company has infringed patents and is seeking damages of 100 million. The information usually required by AASB 137 Provisions, Contingent Liabilities and Contingent Assets is not disclosed on the grounds that it can be expected to prejudice seriously the outcome of the litigation. The directors are of the opinion that the claim can be successfully resisted by the company.

Compilation details
Accounting Standard AASB 137 Provisions, Contingent Liabilities and Contingent Assets (as amended)
Compilation details are not part of AASB 137.
This compiled Standard applies to annual periods beginning on or after 1 January 2023 but before 1 July 2026.  It takes into account amendments up to and including 15 December 2022 and was prepared on 6 April 2023 by 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 137 (August 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 137     14 Aug 2015  F2015L01607     31 Dec 2017         (beginning) 1 Jan 2018  see (a) below
AASB 16      23 Feb 2016  F2016L00233     31 Dec 2018         (beginning) 1 Jan 2019  see (b) below
AASB 2016-7  9 Dec 2016   F2017L00043     31 Dec 2016         (beginning) 1 Jan 2017  see (c) below
AASB 17      19 Jul 2017  F2017L01184     31 Dec 2022         (beginning) 1 Jan 2023  see (d) below
AASB 2018-7  18 Dec 2018  F2019L00021     31 Dec 2019         (beginning) 1 Jan 2020  see (e) below
AASB 2019-1  21 May 2019  F2019L00966     31 Dec 2019         (beginning) 1 Jan 2020  see (e) below
AASB 1060    6 Mar 2020   F2020L00288     30 Jun 2021         (beginning) 1 Jul 2021  see (f) below
AASB 2020-3  15 Jun 2020  F2020L00876     31 Dec 2021         (beginning) 1 Jan 2022  see (g) below
AASB 2021-7  20 Dec 2021  F2021L01883     31 Dec 2021         (beginning) 1 Jan 2022  see (g) below
AASB 2022-8  15 Dec 2022  F2023L00014     31 Dec 2022         (beginning) 1 Jan 2023  see (h) below
AASB 2022-9  15 Dec 2022  F2023L00015     30 Jun 2026         (beginning) 1 Jul 2026  not compiled*

   * The amendments made by this Standard are not included in this compilation, which presents the principal Standard as applicable to annual periods beginning on or after 1 January 2023 but before 1 July 2026.
   (a)           Entities may elect to apply this Standard to periods beginning after 24 July 2014 but before 1 January 2018.
   (b)           Entities may elect to apply this Standard to