Dr Mosby owned a large house on a sizeable piece of land in Darwin. Dr Mosby was 92 years old and had become incapable of taking care of the large property. He wanted to move into a retirement village and so sold his property to the RuralMed Group, which was an association of doctors. The doctors wanted to use the house for their medical practice as it was centrally situated, had many rooms and had an 'old-world' atmosphere that would make patients feel comfortable.

The house was surrounded by a large group of trees that had been planted by the Mosby family over the years. The trees covered a large portion of the land. RuralMed did not want to make substantial alterations to the house as it was already suitable for a doctors' surgery. However, RuralMed wanted to divide the land and sell the portion adjacent to the house. This portion was currently covered in trees. This land would be suitable for up-market apartment blocks.

It was a condition of the sale of the property to RuralMed that while Dr Mosby remained alive the trees on the property could not be cut down, as it would have caused him great distress. This clause in the contract would restrict the building of the apartment blocks. However, this restriction would not be enforceable on subsequent buyers of the property if RuralMed wanted to sell the property in the future. A further issue affecting the building of the apartment blocks was that across one corner of the block there was a gas pipeline that was a part of the city infrastructure for the supply of gas to Darwin residents.

Required Outline any provisions in AASB 13/IFRS 13 that relate to consideration of restrictions on the measurement of fair values of assets. Describe how the restrictions would affect the measurement of the fair value of the property by RuralMed.