This session was devoted to discussion on a submission received by the Interpretations Committee regarding the definition of ‘close members of the family of a person’ in paragraph 9 of IAS 24.  Based on the results of outreach performed, and the staff’s assessment of the Interpretations Committee’s agenda criteria, the staff recommendation was that the Interpretations Committee did not take this issue onto its agenda.  The Technical Manager introduced the agenda paper and asked the Committee members whether they agreed with the recommendations set out in the agenda paper.

One Committee member expressed concern with the wording in the agenda decision that stated that “… the list of close members of the family of a person given in paragraphs 9(a)-(c) are those members that would typically be considered close members of the family of a person”.  He noted that his reading of paragraph 9 was that such persons were always included, and that including the word “typically” seemed to change the way paragraph 9 was read.  He noted that he did not disagree with the decision for the Interpretations Committee not to take the issue onto its agenda, but proposed that the word “typically” be removed from the agenda decision.

All Committee members agreed with the staff recommendation to not take this issue onto its agenda, and with the proposed tentative agenda, subject to deletion of the word “typically”.