Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally



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

 

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