34 COMMITMENTS GROUP & COMPANY Sep-23 MUR m Sep-22 MUR m Operating lease commitments - where the Group is the lessor The future undiscounted lease payments under operating leases are as follows: Within 1 year 80.5 79.2 After one year and before two years 70.2 62.4 After two years and before three years 55.1 56.8 After three years and before four years 43.8 10.9 After four years and before five years 26.9 18.5 After 5 years 23.2 14.9 299.7 242.7 The Group has entered into operating leases for motor vehicles that include revenue-related rental payments that are contingent on future levels of revenue. These leases have terms ranging from 1 to 7 years. 35 CONTINGENT LIABILITIES AND FINANCIAL GUARANTEE CONTRACTS (a) CONTINGENT LIABILITIES During the year, the Company received a tax assessment for the year ended September 2020, to which the Company has objected. To date, the Objections, Appeals Dispute Resolutions Department of the Mauritius Revenue Authority has not determined the assessment and the outcome is unknown. The treatment adopted by the company is consistent with the economics characteristics of its transactions and most importantly is consistent with the general accepted principles of tax policy on neutrality. (b) FINANCIAL GUARANTEE CONTRACTS GROUP COMPANY Sep-23 MUR m Sep-22 MUR m Sep-23 MUR m Sep-22 MUR m Financial guarantee 90.0 74.0 90.0 74.0 At 30 September 2023, the Company had contingent liabilities in respect of guarantees from which it is anticipated that no material liabilities would arise. Financial guarantees relate to bank guarantees of MUR 90m (2022: MUR 74m) have been given on behalf of subsidiary companies with respect to long term debt contracted by the latter arising in the ordinary course of business from which it is anticipated that no material losses will arise. The Directors consider that no liabilities will arise as the probability for default in respect of the guarantee is remote. 191 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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