Joint control

The contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

This is part of the following definitions relating to IFRS 11 Joint arrangement:

Joint arrangement – An arrangement of which two or more parties have joint control.


Joint operation – A joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement.


Joint operator – A party to a joint operation that has joint control of that joint operation.


Joint venture – A joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement.


Joint venturer – A party to a joint venture that has joint control of that joint venture.


Party to a joint arrangement – An entity that participates in a joint arrangement, regardless of whether that entity has joint control of the arrangement.


Separate vehicle – A separately identifiable financial structure, including separate legal entities or entities recognised by statute, regardless of whether those entities have a legal personality.

Leave a Reply

Your email address will not be published. Required fields are marked *