3066

NEW ZEALAND GAZETTE

No. 126

not adoptive, of that person or of their spouse or person who lives with that person as their spouse.

‘Impaired Asset’ means a Non-Accrual Asset, a Restructured Asset, or an Asset Acquired Through the Enforcement of Security.

‘Interest Rate Exposure’ means the amount of the change in the economic value of the Financial Assets (excluding equity instruments) and Financial Liabilities (excluding equity instruments) of the Banking Group in a single currency which would occur as a result of a change in interest rates in that currency.

‘Interest Rate Repricing Date’, as that term applies to a Financial Instrument or to a proportion of a Financial Instrument, means the earlier of the date on which, in accordance with the terms of the Financial Instrument:

(a) the interest rate reset date next occurs (being the date on which the rate of interest payable in respect of the Financial Instrument can or will alter); or

(b) the principal sum is due and payable or, where no principal sum is due and payable, the maturity date occurs.

‘Interest Rate Risk’ has the same meaning as in FRS-33, as amended from time to time.

‘Interim Accounting Period’ means the first six month period of an Accounting Period.

‘Investment Security’ has the same meaning as in FRS-33, as amended from time to time.

‘Issuer’ has the same meaning as in the Financial Reporting Act 1993.

‘Key Information Summary’ means that part of a Disclosure Statement which contains the information prescribed in Part II of this Order.

‘Market Risk Exposure’ means exposure to any, or all, of Equity Exposure, Foreign Currency Exposure and Interest Rate Exposure.

‘Material’ has the meaning given to it by generally accepted accounting practice, or, where generally accepted accounting practice does not apply, means a statement, fact, or item which is of such a nature or amount that its inclusion or omission, or the method of treating its disclosure, would be likely to influence a reasonable user of the Disclosure Statement.

‘Non-Accrual Asset’ means any Credit Exposure for which it is probable that the Registered Bank or a member of the Banking Group will not be able to collect all amounts owing in accordance with the terms of the contract with the Counterparty.

‘Non-Bank Connected Person’ has the same meaning as in the Conditions of Registration.

‘OECD Government’ means the central government of any of the countries specified in the list of OECD countries contained in Appendix One to the Reserve Bank document entitled Capital Adequacy Framework (BS2), as amended from time to time.

‘Off Quarter Balance Date’ means the last day of a First Quarter Accounting Period or Third Quarter Accounting Period.

‘Other Asset Acquired Through the Enforcement of Security’ has the same meaning as in FRS-33, as amended from time to time.

‘Other Security’ has the same meaning as in FRS-33, as amended from time to time.

‘Overseas Bank’ means a financial institution incorporated outside New Zealand which has been authorised, registered, or licensed as a bank in its country of domicile by the appropriate banking supervisory authority.

‘Overseas Banking Group’ means an Overseas Bank and all other entities included in the group for the purposes of public reporting of group financial statements in the country of domicile of the Overseas Bank.

‘Past Due Asset’ means any Credit Exposure which has not been operated by the Counterparty within its key terms for at least 90 days and which is not an Impaired Asset.

‘Premises’ means any staffed premises of the Registered Bank or an agency of the Registered Bank to which the Registered Bank’s customers or potential customers have access in order to conduct banking business.

‘Publication Date’, in respect of a Disclosure Statement, means the date the Disclosure Statement is Published in accordance with clause 3 of this Order.

‘Publish’ includes distribute, make available and disseminate.

‘Rate Insensitive Retail Assets’ means that amount of the Financial Assets held by the Banking Group which the Registered Bank reasonably believes is unlikely to be diminished or increased as a result of a Material change in market interest rates if the interest rate applicable to that Financial Asset (which may be zero) does not change or does not change Materially.

‘Rate Insensitive Retail Liabilities’ means that amount of the Financial Liabilities held by the Banking Group which the Registered Bank reasonably believes is unlikely to be diminished or increased as a result of a Material change in market interest rates if the interest rate applicable to that Financial Liability (which may be zero) does not change or does not change Materially.

‘Rate Insensitive Retail Product’ means either or both of a Rate Insensitive Retail Asset or a Rate Insensitive Retail Liability.

‘Real Estate Asset Acquired Through the Enforcement of Security’ has the same meaning as in FRS-33, as amended from time to time.

‘Register’ means the register of Registered Banks maintained pursuant to section 69 of the Act.

‘Registered Bank’ means an entity which is entered on the Register.

‘Relevant Interest’ has the same meaning as in sections 5 and 6 of the Securities Amendment Act 1988.

‘Responsible Person’ means a person authorised in writing by a Director to sign the Disclosure Statement in accordance with section 82 of the Act.

‘Restructured Asset’ means any Credit Exposure which is not a Non-Accrual Asset and for which:

(a) the original terms have been changed to grant the Counterparty a concession that would not otherwise have been available, due to the Counterparty’s difficulties in complying with the original terms;

(b) the revised terms of the facility are not comparable with the terms of new facilities with comparable risks; and

(c) the yield on the asset following restructuring is equal to, or greater than, the average cost of funds of the Registered Bank or a member of the Banking Group, or that a loss is not otherwise expected to be incurred.

‘Specific Provision’ has the same meaning as in FRS-33, as amended from time to time.

‘Subsidiary’ means a subsidiary within the meaning of sections 5 to 8 of the Companies Act 1993.

‘Substantial Security Holder’ means a person who has a