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## 35 Operating leases 

Commitments for minimum lease payments in relation to non-cancellable operating leases are payable as follows: 

<img src='content_image/167409.jpg'>

The Group leases a number of offices premises under non-cancellable operating leases expiring between one month to ten years. The leases have varying terms, escalation clauses and renewal rights. On renewal, the terms of the leases are renegotiated. 

The Group also lease various office equipment under non-cancellable operating leases expiring between 1 month to 3 years. The term of some of these lease provided the Group with the option to purchase this equipment at the conclusion of these lease agreements. 

## 36 Capital commitments 

The Group has not entered into any non-cancellable capital expenditure commitments not already recognised or provided for. 

## 37 Contingencies 

<img src='content_image/167410.jpg'>

## Other contingent liabilities 

## Trustee services division 

Australian Executor Trustees Ltd, a subsidiary of IOOF Holdings Ltd, is currently defending claims brought against it in its capacity as trustee of estates and superannuation funds. In aggregate these total approximately $2,719,000. Professional indemnity insurance cover is held to meet any professional liabilities that may arise for individual claims above the applicable excess, the Group would be potentially liable for less than $275,000 of these claims. 

## Platform management division 

IOOF Investment Management Ltd, a subsidiary of IOOF Holdings Ltd, is currently defending claims brought against it in its capacity as trustee of superannuation funds. In aggregate these total approximately $211,000. Professional indemnity insurance cover is held to meet any professional liabilities that may arise for individual claims above the applicable excess, the Group would be potentially liable for less than $211,000 of these claims. 

