NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS – NOTE 25


    2016 
R’000 		   2015 
R’000 		  
25. PROVISIONS        
  Leave pay 40 378     42 254    
   Bonus and incentive scheme  29 528     27 938    
      69 906     70 192    
   Made up as follows:             
   Leave pay             
   Balance at beginning of year  42 254     45 331    
   Arising during the year  56 914     68 660    
   Utilised during the year  (51 348)    (66 282)   
   Unused amounts reversed  (4 675)    (5 581)   
   Reclassification to disposal group-held-for-sale (note 2.1) (3 835)    –    
   Disposal of business (note 1.1) –     (369)   
   Exchange rate adjustments  1 068     495    
   Balance at end of year  40 378     42 254    
   Bonus and incentive scheme             
   Balance at beginning of year  27 938     –    
   Arising during the year  32 228     27 938    
   Utilised during the year  (21 788)    –    
   Unused amounts reversed  (8 850)    –    
   Balance at end of year  29 528     27 938   
 

Leave pay provision

In excess of 95% of the balance represents the liability for employees in South Africa. In terms of the Group policy, employees in South Africa are entitled to accumulate leave benefits not taken within a leave cycle, up to a maximum of three times the employee’s annual leave allocation, limited to a maximum of 45 days. The obligation is reviewed annually.

Bonus and incentive provision

Certain employees participate in a performance-based incentive scheme and provision is made for the estimated liability in terms of set performance criteria. These incentives are expected to be paid in September 2016.

  
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS – NOTE 25