RM507.0 million) respectively, relating to the Electricity Industry Fund under the IBR mechanism. Credit terms of trade payables of the Group and of the Company vary from 30 to 60 days (2022: 30 to 60 days) depending on the terms of the contracts. Accounting Policy (continued) Provisions Provisions are recognised when the Group and the Company have a present legal or constructive obligations as a result of past events, it is probable that an outflow of resources will be required to settle the obligations and reliable estimates of the amounts can be made. Where the Group and the Company expect a provision to be reimbursed by another party, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually certain. Provisions are not recognised forfuture operating losses. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Insurance contract liabilities The accounting policy on insurance contract assets and liabilities are disclosed in Note 21. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 258 23 PAYABLES (CONTINUED) (b) The movements in provision during the financial year are as follows: CESS Fund* RM’million Legal/ Disputes RM’million Capital Expenditure RM’million Levy Tax RM’million Services RM’million Others RM’million Total RM’million Group 2023 As at the beginning of the financial year 166.6 25.6 34.0 45.7 0 26.6 298.5 Provisions/(Reversal) during the financial year 48.1 (4.5) (8.1) 1.7 70.6 0 107.8 Utilised during the financial year (64.2) 0 0 0 0 0 (64.2) As at the end of the financial year 150.5 21.1 25.9 47.4 70.6 26.6 342.1 2022 As at the beginning of the financial year 134.5 54.9 75.5 55.4 0 5.0 325.3 Provisions/(Reversal) during the financial