We present a novel interpretation of the Wigner-Araki-Yanase (WAY) theorem based on a relational view of quantum mechanics. Several models are analysed in detail, backed up by general considerations, which serve to illustrate that the moral of the WAY theorem may be that in the presence of symmetry, a measuring apparatus must fulfil the dual purpose of both reflecting the statistical behaviour of the system under investigation, and acting as a physical reference system serving to define those quantities which must be understood as relative.