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Notes to and forming part of the financial statements

For the year ended 30 June 2007

Note 16: Financial Instruments

Note 16A - Interest Rate Risk

Financial Instrument	Notes	Floating Interest Rate		Fixed Interest Rate Maturing In						Non Interest bearing		Total		Weighted Average Effective Interest Rate
				1 Year or less		1 to 5 years		> 5 years
		2007	2006	2007	2006	2007	2006	2007	2006	2007	2006	2007	2006	2007	2006
		$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	%	%
Financial Assets
Cash	6A	4,600	12,071									4,600	12,071	4.51	3.5
Receivables	6B									3,967	4,977	3,967	4,977	n/a	n/a
Floating rate notes	6C					-	10,034					-	10,034	-	6.11
Managed funds	6C			86,146	90,838							86,146	90,838	-1.88	2.73
Investments accounted for using equity method	6D									83	-	83	-	n/a	n/a
Investments-other	6E									4,849	4,229	4,849	4,229	n/a	n/a
Total Financial Assets		4,600	12,071	86,146	90,838	-	10,034			8,899	9,206	99,645	122,149
Financial Liabilities
Trade creditors	9A									1,155	1,072	1,155	1,072	n/a	n/a
Project liabilities	9B									38,432	41,859	38,432	41,859	n/a	n/a
Contributions not yet utilised	9C									361	1,727	361	1,727	n/a	n/a
Total Financial Liabilities										39,948	44,658	39,948	44,658

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Note 16B - Fair Values of Financial Assets and Liabilities

		2007		2006
		Total carrying amount	Aggregate net fair value	Total carrying amount	Aggregate net fair value
	Note	$'000	$'000	$'000	$'000
Financial Assets
Deposits at call	6A	4,600	4,600	12,071	12,071
Receivables	6B	3,967	3,967	4,977	4,977
Floating rate notes	6C	-	-	-	-
Managed funds	6C	86,146	86,146	10,034	10,034
Investments under equity method	6D	83	83	90,838	90,838
Investments-other	6E	4,849	4,849	4,229	4,229
Total Financial Assets		99,645	99,645	122,149	122,149
Financial Liabilities
Trade creditors	10A	1,155	1,155	1,072	1,072
Project liabilities	10B	38,432	38,432	41,859	41,859
Contributions not yet utilised	10C	361	361	1,727	1,727
Total Financial Liabilities		39,948	39,948	44,658	44,658

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Financial Assets

The fair values of deposits at call and receivables approximate their carrying amounts.

The fair value of floating rate notes is based on discounted cash flows using current interest rates for assets with similar risk profiles.

The fair value of the Individually Managed Fund is the quoted market value at reporting date, adjusted for the transaction costs necessary for realisation.

The fair value of investments in associates is the initial cost of the investment in the associate adjusted for the Corporation’s share of the post-acquisition change in the net assets of the associate.

The fair value of shares in unlisted companies is the Corporation’s proportion of the estimated net asset position of the company.

Financial Liabilities

The fair values of trade creditors, project liabilities and contributions not yet utilised approximate their carrying amounts.

Note 16C - Credit Risk Exposures

The Corporation's maximum exposure to credit risk at reporting date in relation to each class of recognised financial assets is the carrying amount of those assets as indicated in the Balance Sheet.

The Corporation has no significant exposures to any concentrations of credit risk.

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