36.1.  Related-party transactions

In 2014, there were no material transactions with shareholders, other than the dividend distribution discussed in Note 10.

In 2014, neither the Parent nor its subsidiaries entered into any material transactions with related parties otherwise than on arm’s length terms.

The Group prepares documentation for related-party transactions in accordance with Art. 9a of the Corporate Income Tax Act. The procedure is applied each time the PGNiG Group entities execute agreements, annexes to agreements, orders (detailed agreements) or orders placed under framework agreements with related entities - if the total amounts payable/receivable (to/from one contractor under one agreement) or their equivalent in the złoty exceed in a calendar year the equivalent of EUR 100 thousand in the case of transactions involving merchandise or EUR 30 thousand in the case of transactions involving rendering of services, sale or provision of intangible assets.

For a list of non-consolidated subsidiaries, see Note 1.4. These financial statements contain consolidated data. The table below presents non-equity-accounted associated entities and joint ventures:

36.2.  Transactions with entities in which the State Treasury holds equity interests

With respect to the required detail of presentation for transactions entered into with parties related through the State Treasury, the Group applies the exemption provided for in paragraphs 25-27 of IAS 24. As there are no special transactions with such entities, the Company may present the minimum scope of information required under revised IAS 24 (presented below).

The main transactions with entities in which the State Treasury holds equity interests are executed in the course of the Group’s day-to-day operations, i.e. natural gas trading, sale of crude oil, and sale of electricity.

In 2014, the Group generated the highest turnover with the following entities in which the State Treasury holds (directly or indirectly) equity interests: Operator Gazociągów Przesyłowych GAZ-SYSTEM S.A., Polski Koncern Naftowy ORLEN S.A., Orlen Południe S.A., Grupa Azoty Zakłady Azotowe PU£AWY S.A., Zakłady Azotowe w Tarnowie - Mościcach S.A., Grupa Azoty Zakłady Azotowe KÍdzierzyn S.A., Grupa LOTOS S.A., PGE Górnictwo i Energetyka Konwencjonalna S.A., Energa Obrót S.A., and Polskie Sieci Elektroenergetyczne S.A.

In 2013, the Group generated the highest turnover with the following entities in which the State Treasury holds (directly or indirectly) equity interests: Operator Gazociągów Przesyłowych GAZ-SYSTEM S.A., Polski Koncern Naftowy ORLEN S.A., PGE Górnictwo i Energetyka Konwencjonalna S.A., Grupa LOTOS S.A., KGHM Polska Miedü S.A., Krośnieńskie Huty Szkła KROSNO S.A. w upadłości (in bankruptcy), Grupa Azoty Zakłady Azotowe PU£AWY S.A., Grupa Azoty Zakłady Chemiczne POLICE S.A., Grupa Azoty Zakłady Azotowe KÍdzierzyn S.A., Zakłady Azotowe w Tarnowie - Mościcach S.A., Huta Cynku "Miasteczko åląskie" S.A., Rafineria Trzebinia S.A. and Rafineria Nafty Jedlicze S.A.

36.3.  Remuneration paid to members of management and supervisory bodies of the Group companies

36.4.  Loans granted to the management and supervisory staff of the Group companies

36.5.  Remuneration paid to members of management and supervisory bodies of the Parent

36.6.  Fees paid to the audit firm for the mandatory audit of the full-year consolidated financial statements of the Group and for the rendering of other services

36.7.  Joint operations