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2. New Standards and Interpretations
2.1 Standards and interpretations effective and
adopted in the current 15 months
In the current 15 months, the group has adopted the fol-
lowing standards and interpretations that are effective
for the current financial 15 months and that are relevant
to its operations:
2009 Annual Improvements Project: Amendments to
IFRS 5 Non-current Assets Held for Sale and Discon-
tinued Operations
The amendment specifies that disclosures of other Stan-
dards do not apply to non-current assets (or disposal
groups) held for sale or discontinued operations, unless
specifically required by other Standards or for measure-
ment disclosures of assets and liabilities in a disposal
group which are outside the measurement requirements
of IFRS 5 (AC 142) Non-current Assets Held for Sale and
Discontinued Operations.
The effective date of the amendment is for years begin-
ning on or after 01 January 2010.
The group has adopted the amendment for the first time
in the 2011 annual financial statements.
The impact of the amendment is not material.
2009 Annual Improvements Project: Amendments to
IAS 7 Statement of Cash Flows
The amendment provides that expenditure may only be
classified as ‘cash flows from investing activities’ if it re-
sulted in the recognition of an asset on the consolidated
statement of financial position. The effective date of the
amendment is for years beginning on or after 01 January
2010.The group has adopted the amendment for the first
time in the 2011 annual financial statements. The impact
of the amendment is not material.
2009 Annual Improvements Project: Amendments to
IAS 17 Leases
The amendment removes the guidance that leases of
land, where title does not transfer, are operating leases.
The amendment therefore requires that lease classifica-
tion for land be assessed in the same manner as for all
leases. The amendment is to be applied retrospectively,
unless the information is not available. In these cases,
existing leases shall be reconsidered based on facts and
circumstances existing at the date of adoption of the
amendment. The lease asset and lease liability shall, in
these cases be recognised at their fair values on that date,
with any difference in those fair values recognised in re-
tained earnings.
The effective date of the amendment is for years begin-
ning on or after 01 January 2010.
The group has adopted the amendment for the first time
in the 2011 annual financial statements.
The impact of the amendment is not material.
Amendment to IFRS 2 – Group Cash-settled Share-
based Payment Transactions
The amendment incorporates the principles of IFRIC
8 (AC 441) Scope of IFRS 2 and IFRIC 11 (AC 444) IFRS 2
Group and Treasury Share Transactions, which have con-
sequentially been removed. In addition, the amendment
provides that for Share based payment transactions
among group entities, the entity receiving the goods or
services shall recognise the transaction as an equity set-
tled share based payment transaction if either the awards
granted are its own equity instruments or the entity has
no obligation to settle the transaction. In all other circum-
stances, such transactions shall be accounted for as cash
settled share based payment transactions.
The effective date of the amendment is for years begin-
ning on or after 01 January 2010.
The group has adopted the amendment for the first time
in the 2011 annual financial statements.
The impact of the amendment is not material.
Notes to the Annual Financial Statements
Annual Financial Statements for the 15 months ended 30 September 2011