Appendix A Defined terms
This appendix is an integral part of the Standard.
joint arrangement
A[1]
An arrangement of which two or more parties have joint control.
joint control
A[2]
The contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.
joint operation
A[3]
A joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement.
joint operator
A[4]
A party to a joint operation that has joint control of that joint operation.
joint venture
A[5]
A joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement.
joint venturer
A[6]
A party to a joint venture that has joint control of that joint venture.
party to a joint arrangement
A[7]
An entity that participates in a joint arrangement, regardless of whether that entity has joint control of the arrangement.
separate vehicle
A[8]
A separately identifiable financial structure, including separate legal entities or entities recognised by statute, regardless of whether those entities have a legal personality.