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2.
Significant accounting policies (continued)
2.19 Employee Benefits
Employee benefits are recognised as an expense, unless the cost qualifies to be capitalised as an asset.
Defined contribution plans
Defined contribution plans are post-employment benefit plans under which the Group pays fixed contributions into separate
entities on a mandatory, contractual or voluntary basis. The Group has no further payment obligations once the contributions
have been paid.
2.20 Units on Issue and Unit Issuance Expenses
Proceeds from issuance of units are recognised as units on issue in unitholders’ funds. Incremental costs directly attributable
to the issuance of units are deducted against units on issue.
2.21 Distributions to Trust’s Unitholders
Distributions to the Trust’s unitholders are recognised when the distributions are declared payable by the Trustee-Manager.
2.22 Transfer to Other Reserves
Other reserves represent profits statutorily transferred to the dividend distribution reserve and capital redemption reserve of
the Indian subsidiaries under Indian regulatory provisions.
2.23 Contingencies
A contingent liability is:
(a)
a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or
non-occurrence of one or more uncertain future events not wholly within the control of the Group; or
(b)
a present obligation that arises from past events but is not recognised because:
(i)
it is not probable that an outflow of resources embodying economic benefits will be required to settle the
obligation; or
(ii)
the amount of the obligation cannot be measured with sufficient reliability.
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence
or non-occurrence of one or more uncertain future events not wholly within the control of the Group.
Contingent liabilities and assets are not recognised on the balance sheet of the Group, except for contingent liabilities assumed
in a business combination that are present obligations and which the fair values can be reliably determined.
