for the year ended 30 June 2022 FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 100 Westgold Resources Limited Annual Report 2022 36. I NFORMATION RELATING TO WESTGOLD RESOURCES LIMITED (THE PARENT ENTITY) (CONTINUED) Guarantees entered into by the parent entity in relation to the debts of its subsidiaries. Pursuant to ASIC Corporations (Wholly owned Companies) Instrument 2016/785, Westgold and its wholly owned subsidiaries entered into a deed of cross guarantee on 28 November 2016 (the Guarantee). The effect of the Guarantee is that Westgold has guaranteed to pay any deficiency in the event of winding up of any controlled entity which is a party to the Guarantee or if they do not meet their obligations under the terms of any debt subject to the Guarantee. The controlled entities which are parties to the Guarantee have given a similar guarantee in the event that Westgold is wound up or if it does not meet its obligations under the terms of any debt subject to the Guarantee. The Consolidated Statement of Financial Position and Consolidated Statement of Comprehensive Income for the closed group is not different to the Group’s Statement of Financial Position and Statement of Comprehensive Income. Other contingent liabilities of the parent entity Nil Contractual commitments by the parent entity for the acquisition of property, plant or equipment Nil 37. EVENTS AFTER THE BALANCE SHEET DATE There have been no other significant events after the balance date. 38. ACCOUNTING STANDARDS New and amended standards and interpretations The Group has adopted all Accounting Standards and Interpretations effective from 1 July 2021. The accounting policies adopted are consistent with those of the previous financial year. Several new and amended Accounting Standards and Interpretations applied for the first time from 1 July 2021 but did not have an impact on the consolidated financial statements of the Group and, hence, have not been disclosed.
RkJQdWJsaXNoZXIy MjE2NDg3