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## Notes to the financial statements 

for the financial year ended 31 March 2014 continued 

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(1) Contingent liabilities exist in respect of actual and potential claims and proceedings that arise in the conduct of the Consolidated Entity’s business. A provision is recognised where some loss is probable and can be reliably estimated. The Consolidated Entity is currently not engaged in any litigation or claim which is likely to have a material adverse effect on the Consolidated Entity’s business, financial condition or performance. (2) 

Total commitments also represent contingent assets. Such commitments to provide credit may convert to loans and other assets in the ordinary course of business. 

## Note 35 Lease commitments 

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Operating leases relate to commercial buildings. The future lease commitments disclosed are net of any rental incentives received. 

