Consensus
Accounting for an interest in a fund
7
The contributor shall recognise its obligation to pay decommissioning costs as a liability and recognise its interest in the fund separately unless the contributor is not liable to pay decommissioning costs even if the fund fails to pay.
9
If a contributor does not have control or joint control of, or significant influence over, the fund, the contributor shall recognise the right to receive reimbursement from the fund as a reimbursement in accordance with AASB 137. This reimbursement shall be measured at the lower of:
(a) the amount of the decommissioning obligation recognised; and
(b) the contributor’s share of the fair value of the net assets of the fund attributable to contributors.
Changes in the carrying value of the right to receive reimbursement other than contributions to and payments from the fund shall be recognised in profit or loss in the period in which these changes occur.
Accounting for obligations to make additional contributions
10
When a contributor has an obligation to make potential additional contributions, for example, in the event of the bankruptcy of another contributor or if the value of the investment assets held by the fund decreases to an extent that they are insufficient to fulfil the fund’s reimbursement obligations, this obligation is a contingent liability that is within the scope of AASB 137. The contributor shall recognise a liability only if it is probable that additional contributions will be made.
Disclosure
11
A contributor shall disclose the nature of its interest in a fund and any restrictions on access to the assets in the fund.
12
When a contributor has an obligation to make potential additional contributions that is not recognised as a liability (see paragraph 10), it shall make the disclosures required by paragraph 86 of AASB 137.
13
When a contributor accounts for its interest in the fund in accordance with paragraph 9, it shall make the disclosures required by paragraph 85(c) of AASB 137.