Fair Values of Financial Assets and Liabilities Sample Clauses

Fair Values of Financial Assets and Liabilities. The net fair values of financial assets and liabilities of the Group approximate their carrying values. The Group has no off-balance sheet financial instruments and no amounts are offset. NOTE 23 – AUDITORS’ REMUNERATION 2014 $ 2013 $ Audit and review services Auditors of the Company – KPMG Audit and review of financial reports (KPMG Australia) 125,689 107,260 Audit of Joint Operations operated by Oilex Ltd Operator proportion only (KPMG Australia) 1,800 829 Audit and review of financial reports (KPMG related practices) 27,921 14,919 155,410 123,008 Other Auditors Audit and review of financial reports (India Statutory) 6,108 5,485 161,518 128,493 Other services Auditors of the Company – KPMG Taxation compliance services (KPMG Australia) 46,750 23,544 Corporate services (KPMG Australia) 10,654 - Secondment of staff (KPMG Australia) - 52,203 Taxation compliance services (KPMG related practices) 19,469 33,271 76,873 109,018 Other Auditors Taxation compliance services (India Statutory) 8,144 8,230 85,017 117,248 NOTE 24 – OPERATING LEASES Leases as Lessee Non-cancellable operating lease rentals are payable as follows: 2014 $ 2013 $ Within one year 127,815 104,782 One year or later and no later than five years - 108,597 127,815 213,379 The Group leases its head office premises at Level One, 000 Xxxxxxxxx Xxxxxx, Xxxxxxxxxxx under an operating lease. The current lease has a three year term, with an option to renew for a further five years. The Group leases office premises in Dili (Timor-Leste) and Gujarat (India) under operating leases. The leases run for periods of between 3 months and 1 year, with an option to renew the lease for a further term after that date. 2014 $ 2013 $ Operating lease rentals expensed during the financial year 164,822 162,817 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2014 NOTE 25 – JOINT ARRANGEMENTS The Group’s interests in joint arrangements as at 30 June 2014 are detailed below. Principal activities are oil and gas exploration, evaluation, development and production.
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Related to Fair Values of Financial Assets and Liabilities

  • Assets and Liabilities At the Effective Time, the Surviving Corporation shall possess all the rights, privileges, powers and franchises of a public as well as of a private nature, and be subject to all the restrictions, disabilities and duties of each of Acquisition Corp. and the Company (collectively, the “Constituent Corporations”); and all the rights, privileges, powers and franchises of each of the Constituent Corporations, and all property, real, personal and mixed, and all debts due to any of the Constituent Corporations on whatever account, as well as all other things in action or belonging to each of the Constituent Corporations, shall be vested in the Surviving Corporation; and all property, rights, privileges, powers and franchises, and all and every other interest shall be thereafter as effectively the property of the Surviving Corporation as they were of the several and respective Constituent Corporations, and the title to any real estate vested by deed or otherwise in either of such Constituent Corporations shall not revert or be in any way impaired by the Merger; but all rights of creditors and all liens upon any property of any of the Constituent Corporations shall be preserved unimpaired, and all debts, liabilities and duties of the Constituent Corporations shall thenceforth attach to the Surviving Corporation, and may be enforced against it to the same extent as if said debts, liabilities and duties had been incurred or contracted by it.

  • Proceedings with Respect to Certain Assets and Liabilities (a) In connection with any investigation, proceeding or other matter with respect to any asset or liability of the Failed Bank retained by the Receiver, or any asset of the Failed Bank acquired by the Receiver pursuant to this Agreement, the Assuming Institution shall cooperate to the extent reasonably required by the Receiver.

  • FUTURE LIABILITIES Each Spouse warrants to the other that they shall not incur, after the effective date of this Agreement, any liability for which the other shall be or may become personally liable or that could be enforced against an asset held by the other Spouse.

  • Accounts Excluded from Financial Accounts The following accounts are excluded from the definition of Financial Accounts and therefore shall not be treated as U.S. Reportable Accounts.

  • Assumed Liabilities Subject to the terms and conditions set forth herein, Buyer shall assume and agree to pay, perform and discharge only the following Liabilities of Seller (collectively, the “Assumed Liabilities”), and no other Liabilities:

  • Assets The School shall maintain a complete and current inventory of all of its property and shall update the inventory annually. The School shall take all necessary precautions to safeguard assets acquired with public funds.

  • Additional Procedures Applicable to High Value Accounts 1. If a Preexisting Individual Account is a High Value Account as of December 31, 2013, the Reporting [FATCA Partner] Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by December 31, 2014. If based on this review, such account is identified as a U.S. Reportable Account, the Reporting [FATCA Partner] Financial Institution must report the required information about such account with respect to 2013 and 2014 in the first report on the Account. For all subsequent years, information about the account should be reported on an annual basis.

  • Refund Liabilities 8.4.1 The State shall be liable for interest on refunds from the date the refund is credited to a State account until the date the refund is debited from the State account for program purposes. The State shall apply a $50,000 refund transaction threshold below which the State shall not incur or calculate interest liabilities on refunds. A transaction is defined as a single deposit.

  • Accounting Rights Business Associate shall, within ten days of receiving a written request from Covered Entity, maintain and make available to Covered Entity the information necessary for Covered Entity to satisfy its obligations to provide an accounting of Disclosure under 45 C.F.R. 164.528.

  • STATEMENT OF MUTUAL BENEFIT AND INTERESTS   In consideration of the above premises, the parties agree as follows:

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