The SQ Group, merchant bankers, has a number of subsidiaries, associates and joint arrangements in its group structure. During the financial year to 31 December 2022, the following events occurred.

SQ Ltd agreed to finance a management buyout of a group company GH Ltd, a limited company. In addition to providing loan finance, the SQ Ltd has retained a 30% equity holding in the GH Ltd and has a main board director on the board of GH Ltd. SQ Ltd received management fees, interest payments and dividends from GH Ltd. (9 marks)

The retirement benefit scheme of the group is managed by another merchant bank. An investment manager of the group retirement benefit scheme is also a non-executive director of the SQ Group and received an annual fee for his services of $0.3 million which is not material in the group context. SQ Ltd paid $192 million per annum into the scheme and occasionally transferred assets into the scheme. In 2022, property, plant and equipment of $120 million were transferred into the scheme and a recharge of administrative costs of $36 million was made. (7 marks)

Required:

Discuss if the above events would require disclosure in the financial statements of the SQ Group, a public company under HKAS 24 Related Party Disclosures.