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2.
Significant accounting policies (continued)
2.17 Government Grants
Government grants are recognised when there is reasonable assurance that the grant will be received and all attaching
conditions will be complied with.
Government grants are recognised in profit or loss on a systematic basis over the periods in which the Company recognises
as expenses the related costs for which the grants are intended to compensate. Grants are presented in profit or loss under
“other income”.
2.18 Related Parties
A related party is defined as follows:
(a)
A person or a close member of that person’s family is related to the Company if that person:
(i)
has control or joint control over the Company;
(ii)
has significant influence over the Company; or
(iii)
is a member of the key management personnel of the Company or of a parent of the Company.
(b)
An entity is related to the Company if any of the following conditions apply:
(i)
the entity and the Company are members of the same group (which means that each parent, subsidiary and
fellow subsidiary is related to the others);
(ii)
one entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of
a group of which the other entity is a member);
(iii)
both entities are joint ventures of the same third party;
(iv)
one entity is a joint venture of a third entity and the other entity is an associate of the third entity;
(v)
the entity is a post-employment benefit plan for the benefit of employees of either the Company or an entity
related to the Company. If the Company is itself such a plan, the sponsoring employers are also related to
the Company;
(vi)
the entity is controlled or jointly controlled by person identified in (a);
(vii)
a person is identified in (a)(i) has significant influence over the entity or is a member of the key management
personnel of the entity (or of a parent of the entity).
2.19 Transfers Between Levels of the Fair Value Hierarchy
Transfers between levels of the fair value hierarchy are deemed to have occurred on the date of the event or change in
circumstances that caused the transfers.
