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Saturday, May 1, 2010

Close members of the family of an individual

Close members of the family of an individual refer to those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity. They may include:

(a) the individual’s domestic partner and children;

(b) children of the individual’s domestic partner; and

(c) dependants of the individual or the individual’s domestic partner.

Source: IAS 24 Related Party Disclosures