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Note 9. Related party disclosure

Related parties to AITSL are key management personnel including directors.

Certain directors and key management personnel of AITSL hold positions in other entities that result in them having significant influence over the financial or operating policies of those entities.

A number of those entities transacted with AITSL through the financial year. These transactions may be significant due to the nature of the industry in which AITSL operates and the broad industry representation of the persons nominated to the Board of Directors and employed as key management personnel. All of these transactions are carried out in compliance with the terms of the Procurement Policy and Conflict of Interest Policy approved by the Board of Directors and on terms and conditions that were no more favourable than those available, or which might reasonably be expected to be available, on similar transactions to non-related entities.

The aggregate value of transactions and outstanding balances, including commitments, relating to entities over which related parties have significant influence were as follows:

2020
$

2019
$

Purchase of goods and services

Transaction value as at 30 June

234,553

110,209

Balance outstanding as at 30 June

23,210

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