According to AASB 3 Business Combinations, a gain on bargain purchase arises in a business combination when the consideration transferred:

		is less than the carrying amount of the identifiable assets and liabilities.
		is greater than the net fair value of the acquirees identifiable assets and liabilities.
		is less than the net fair value of the acquirees identifiable assets and liabilities.
		is more than the book values of the identifiable assets acquired.