Note 19: Administered Contingent Assets and Liabilities
There are no Administered Contingent Assets or Liabilities in 2010-11 (2009-10: Nil).
Quantifiable Administered Contingencies
There are no Quantifiable Administered Contingencies disclosed in the Schedule of Administered Items.
Unquantifiable Administered Contingencies
There are no unquantifiable administered contingencies.
Significant Remote Administered Contingencies
Under section 62 of the Export Finance and Insurance Corporation Act 1991, the Australian Government guarantees the due payment by the Export Finance and Insurance Corporation of money that is, or may at any time become, payable by the Export Finance and Insurance Corporation to any person other than the Australian Government. Details of remote contingencies are shown in the following table:
| 2011 $'000 |
2010 $'000 |
|
|---|---|---|
| Contracts of insurance and guarantees | 424,000 | 489,700 |
| Statement of financial position liabilities | 1,891,800 | 1,345,100 |
| NIA contracts of insurance, guarantees and statement of position liabilities | 634,100 | 801,300 |
| 2,949,900 | 2,636,100 |