Septiembre 2011

Related parties

A party is considered to be related to another when one of the parties exercises, directly or indirectly, control or a significant influence over the financial and operating policy decisions of the other.

In any case, the following are considered to be related parties:

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  Group companies, associates and jointly controlled entities.
  

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  Persons that exercise a significant influence. These include close members of those persons’ families.
  

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  Members of the key management personnel of the reporting entity or of a parent of the reporting entity (directors and executives) and close members of those persons’ families.
  

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  Entities over which any of the persons mentioned in the two preceding points are in a position to exercise significant influence.
  

Related parties

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  Entities that share a director or executive with the reporting entity, unless the director or executive does not exercise a significant influence over the financial and operating policies of the two entities.
  

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  Persons who are close members of the family of the representative of the director of the entity when the director is a legal person.
  

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  Post-employment benefit plans for the benefit of employees of either the reporting entity or an entity related to the reporting entity.
  

For the purpose of this standard, close members of the family of a person are, inter alia:

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  That person’s spouse or domestic partner;
  

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  That person’s ascendants, descendants and siblings and their respective spouses or domestic partners;
  

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  The ascendants, descendants and siblings of that person’s spouse or domestic partner; and
  

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  Dependants of that person or of that person’s spouse or domestic partner.