A venturer should disclose the aggregate amount of the following contingent liabilities, unless the probability of loss is remote, separately from the amount of other contingent liabilities:
- Any contingent liabilities that the venturer has incurred in relation to its interests in joint ventures and its share in each of the contingent liabilities which have been incurred jointly with other venturers;
- Its share of the contingent liabilities of the joint ventures themselves for which it is contingently liable; and
- Those contingent liabilities that arise because the venturer is contingently liable for the liabilities of the other venturers of a joint venture.
- A venturer should disclose the aggregate amount of the following commitments in respect of its interests in joint ventures separately from other commitments:
- Any capital commitments of the venturer in relation to its interests in joint ventures and its share in the capital commitments that have been incurred jointly with other venturers; and
Its share of the capital commitments of the joint ventures themselves. A venturer should disclose a list of all joint ventures and description of interests in significant joint ventures. In respect of jointly controlled entities, the venturer should also disclose the proportion of ownership interest, name and country of incorporation or residence. A venturer should disclose, in its separate financial statements, the aggregate amounts of each of the assets, liabilities, income and expenses related to its interests in the jointly controlled entities.