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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
Annual Report 2016 107
Notes to the consolidated financial statements
30 June 2016
(continued)
23 Subsidiaries (continued)
(a) Significant investments in subsidiaries (continued)
Name of entity
Note
Country of
incorporation
Equity holding
2016
%
2015
%
Independence Long Pty Ltd
(a)
Australia
100
100
Independence Newsearch Pty Ltd
Australia
100
100
Independence Karlawinda Pty Ltd
Australia
100
100
Independence Jaguar Pty Ltd
(a),(d)
Australia
100
100
Independence ESP Pty Ltd
(c)
Australia
-
100
Independence Jaguar Exploration Parent Pty Ltd
(c)
Australia
-
100
Independence Jaguar Exploration Pty Ltd
(c)
Australia
-
100
Independence Stockman Parent Pty Ltd
Australia
100
100
Independence Stockman Project Pty Ltd
Australia
100
100
Independence Jaguar Project Parent Pty Ltd
Australia
100
100
Independence Jaguar Project Pty Ltd
Australia
100
100
Independence CM Pty Ltd
(c)
Australia
-
100
Independence BBS Pty Ltd
(c)
Australia
-
100
Independence Projects Pty Ltd
(c)
Australia
-
100
Independence Europe Pty Ltd
Australia
100
100
Independence Nova Holdings Pty Ltd
(a),(b)
Australia
100
-
Independence Nova Pty Ltd
(a),(b)
Australia
100
-
Sirius Exploration Canada Ltd
(c)
Canada
-
-
VMS Metals Pty Ltd
(c)
Australia
-
-
Independence Group Europe AB
Sweden
100
100
(a)
These subsidiaries have been granted relief from the necessity to prepare financial reports in accordance with
Class Order 98/1418 issued by the Australian Securities and Investments Commission. For further information refer
to note 29.
(b)
On 18 April 2016, Sirius Resources Pty Ltd changed its name to Independence Nova Holdings Pty Ltd and Sirius
Gold Pty Ltd changed its name to Independence Nova Pty Ltd.
(c)
This entity was deregistered or dissolved during the year.
(d)
On 23 March 2016, Independence Jaguar Limited changed its name to Independence Jaguar Pty Ltd and the
company type was changed from Limited to Pty Ltd.
(b) Principles of consolidation
Subsidiaries are all entities over which the Group has the power to govern the financial and operating policies, generally
accompanying a shareholding of more than one-half of the voting rights. The existence and effect of potential voting
rights that are currently exercisable or convertible are considered when assessing whether the Group controls another
entity.
Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated
from the date that control ceases.
Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated.
Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset
transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the
policies adopted by the Group.
Independence Group NL
79