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## Notes to the financial statements 

## for the financial year ended 31 March 2014 continued 

## Note 32 Key Management Personnel disclosure continued 

For the financial year ended 31 March 2013 

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(1) All loans provided by the Consolidated Entity to Directors and Executives are made in the ordinary course of business on an arm’s length basis and are entered into under normal terms and conditions consistent with other customers and employees. There have been no write-downs or allowances for doubtful debts. 

## Other transactions with Key Management Personnel and their related parties 

Certain Key Management Personnel and their related parties have acquired Infrastructure Bonds and iUnits from subsidiaries within the Consolidated Entity, which have been financed with limited recourse loans and some of which are subject to forward sale agreements. All the arrangements between the investor and Macquarie are subject to a legal right of set-off. The only amounts recognised by the Consolidated Entity in respect of these transactions are either: for iBonds, the annual payments from the relevant Key Management Personnel which are brought to account as fee revenue; or for iUnits, the value of the option purchased. These transactions have been undertaken on terms and conditions consistent with other customers and employees. 

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The annual contributions in respect of Infrastructure Bonds and similar products relate to the following Key Management Personnel: 

## Executive Director 

N.W. Moore 

## Executives 

S.D. Allen, T.C. Bishop, A.J. Downe, G.A. Farrell, N. Sorbara (2014), S.Vrcelj, G.C. Ward, S. Wikramanayake 

## Former Executives 

P.J. Maher (balance at the date ceased to be a member of the Executive Committee) 

All other transactions with Key Management Personnel (including their related parties) were conducted on an arm’s length basis in the ordinary course of business and under normal terms and conditions for customers and employees. These transactions were trivial or domestic in nature and consisted principally of normal personal banking and financial investment services. Related parties of Key Management Personnel who are employees received normal employee benefits on standard terms and conditions. 

