Baker Technology LimitedAnnual Report 2014
101
2.
Summaryof significant accountingpolicies (cont’d)
2.24
Relatedparties
A relatedparty isdefinedas follows:
(a)
A person or a closemember of that person’s family is related to the Group and Company if that
person:
(i)
has control or joint control over theCompany;
(ii)
has significant influenceover theCompany; or
(iii)
is amember of thekeymanagement personnel of theGrouporCompanyor of aparent of
theCompany.
(b)
Anentity is related to theGroupand theCompany if anyof the following conditions applies :
(i)
the entity and the Company are members of the same group (which means that each
parent, subsidiaryand fellow subsidiary is related to theothers).
(ii)
oneentity isanassociateor joint ventureof theotherentity (oranassociateor joint venture
of amember of agroupofwhich theother entity is amember).
(iii)
bothentities are joint venturesof the same thirdparty.
(iv)
oneentity is a joint ventureof a thirdentity and theother entity is anassociateof the third
entity.
(v)
the entity is a post-employment benefit plan for the benefit of employees of either the
Company or an entity related to the Company. If the Company is itself such a plan, the
sponsoringemployers arealso related to theCompany.
(vi)
theentity is controlledor jointly controlledbyaperson identified in (a).
(vii)
aperson identified in (a) (i) hassignificant influenceover theentityor isamemberof thekey
management personnel of theentity (or of aparent of theentity).
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31December 2014
