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## Consolidated Notes to the Financial Statements 

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Trade payables are generally settled within 30 days of the date of recognition. 

For terms and conditions relating to amounts owing to jointly controlled entities, refer to Note 50. 

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## Government assistance 

On 8 November 2011, the Federal Parliament passed the Clean Energy Legislative Package, which sets out the way that Australia will introduce a carbon price to reduce Australia’s carbon pollution and move to a clean energy future. Under the Clean Energy Act 2011, which is the central Act of the package, an Energy Security Fund was established to support a secure energy market transition to a clean energy future. 

On 22 June 2012, Great Energy Alliance Corporation Pty Limited, the owner of the Loy Yang A power station, received a coal-fired generation assistance cash payment of $240.1 million from the Australian Government under the Energy Security Fund. 

In accordance with the requirements of AASB 1020 Accounting for Government Grants and Disclosure of Government Assistance , the $240.1 million has been recognised as deferred revenue at 30 June 2012 and will be released to the income statement during the 2013 financial year, reducing the impact of the carbon price expense in the first year of the scheme. 

