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## 17. CURRENT LIABILITIES — TRADE AND OTHER PAYABLES 

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Trade payables are non-interest bearing and are normally settled on agreed terms which are generally up to 30 days� Other payables are non-interest bearing and have an average term of three months� 

## (a) Fair value 

Due to the short-term nature of these payables, their carrying value is assumed to approximate their fair value� 

## (b) Foreign exchange and liquidity risk 

Information regarding foreign exchange and liquidity risk exposure is set out in note 4� 

## 18. CURRENT LIABILITIES — PROVISIONS 

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## Make good provision 

The Company is required to restore its leased head office premises to its original condition at the end of the lease term� A provision of $200,000 has been recognised for the present value of the estimated expenditure required to remove the leasehold improvements� The provision is expected to be utilised during the year ending 31 March 2014� 

## Onerous contract 

The Company no longer uses a leased property and has recognised a provision of $479,000 for the present value of the estimated costs of exiting the lease� 

## 19. NON-CURRENT LIABILITIES — PROVISIONS 

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