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## NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONT 

For the three months ended 31 March 2013 

## 31. INFORMATION RELATING TO THE PARENT ENTITY (CONTINUED) 

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## (a) Guarantees entered into by the parent entity 

Australian Agricultural Company Ltd and the wholly owned entities listed in note 25 are parties to a deed of cross guarantee as described in note 25� The nature of the deed of cross guarantee is such that each Company which is party to the deed guarantees, to each creditor, payment in full of any debt in accordance with the deed of cross guarantee� No deficiency of net assets existed for the Group as at 31 March 2013� 

No liability was recognised by Australian Agricultural Company Ltd in relation to these guarantees, as the fair value of the guarantees is immaterial� 

## (b) Contingent liabilities of the parent entity 

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## (a) Contractual commitments for the acquisition of property, plant or eq uipment 

Australian Agricultural Company Ltd did not have any commitments for the ac quisition of property, plant and equipment as at 31 March 2013, 31 December 2012 and 31 March 2012� 

## (b) Accounting policies 

The accounting policies of the parent entity, which have been applied in deter mining the financial information shown above, are the same as those applied in the consolidated financial statements except for investments in sub sidiaries are accounted for at cost in the financial statements of Australian Agricultural Company Limited� 

