[Refer: Basis for Conclusions paragraph BC53]
Application examples
Example 3
The investee has annual shareholder meetings at which decisions to direct
the relevant activities are made. The next scheduled shareholders’ meeting is
in eight months. However, shareholders that individually or collectively
hold at least 5 per cent of the voting rights can call a special meeting to
change the existing policies over the relevant activities, but a requirement to
give notice to the other shareholders means that such a meeting cannot be
held for at least 30 days. Policies over the relevant activities can be changed
only at special or scheduled shareholders’ meetings. This includes the
approval of material sales of assets as well as the making or disposing of
significant investments.
The above fact pattern applies to examples 3A–3D described below. Each
example is considered in isolation.
continued...
IFRS 10
姝 IFRS Foundation
A521
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