NOTE 35
RELATED PARTY DISCLOSURES
(a) Ultimate controlling entity
ARTC is the ultimate Australian parent entity within
the Group and the ultimate controlling entity of the
Group is the Commonwealth Government.
(b) Directors
A Director related entity includes any legal,
administrative or fiduciary arrangement,
organisational structure or other party, including
a person, having the capacity to deploy equity
instruments in order to achieve objectives. The entity
must be under joint or overall control or significant
influence of a Director or his/her related parties.
Other than those listed below there were no other
related party transactions with Directors at year end
(2012: $ nil).
ARTC Director, Mr. L Di Bartolomeo was a Director of
Downer EDI Limited during the financial year, a firm
that the Group has a commercial relationship with. As
a non executive Director he had no direct involvement
in the specific bidding process of its operating
divisions. The Group deals with Downer EDI and its
operating divisions under normal commercial terms
and conditions.
There were no loans to Directors at year end
(2012:$nil).
NOTE 36
SUBSIDIARIES
(a) Significant investments in subsidiaries
The consolidated financial statements incorporate the assets, liabilities and results of the following principal non -
operating subsidiaries in accordance with the accounting policy described in note 1(d):
Name of entity
Country
of incorporation
Equity holding
2013
%
2012
%
ARTC Services Company Pty Ltd
Australia
100
100
Standard Gauge Company Pty Ltd
Australia
100
100
NOTE 37
ECONOMIC DEPENDENCY
A significant level of the Group’s track access revenue relates to a single rail operator. If not for this revenue, the Group
would find it difficult to maintain the current level of revenue and profit.
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