28 AUGUST NEW ZEALAND GAZETTE 3099

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 on which 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 the New Zealand Business of the entity which is entered on the Register, as if that entity’s business was conducted in the course of that business and registered in New Zealand by a company formed and registered in New Zealand.

‘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 Relevant Interest in 5 percent or more of the Voting Securities of which the Registered Bank is the issuer.

‘Supplemental Disclosure Statement’ means that part of a Disclosure Statement which contains the information prescribed in Part V of this Order.

‘Third Quarter Accounting Period’ means:

(a) the first nine month period of an Accounting Period; and

(b) where an Accounting Period will be 15 months, the first 12 month period of an Accounting Period.

‘Tier One Capital’ in relation to an Overseas Bank or Overseas Banking Group, means the amount of tier one capital held by the Overseas Bank or Overseas Banking Group determined in accordance with the requirements of the authority having the power to impose minimum Capital requirements on that Overseas Bank or Overseas Banking Group in its country of domicile.

‘Ultimate Holding Company’ means the body corporate which is the Registered Bank’s holding company (as that term is defined in section 5 of the Companies Act 1993) and which is not itself a Subsidiary of another body corporate and which is not a Bank.

‘Ultimate Parent Bank’ means any Bank which is the Registered Bank’s holding company (as that term is defined in section 5 of the Companies Act 1993) and which is not itself a Subsidiary of another Bank.

‘Voting Security’ has the same meaning as in section 2 of the Securities Amendment Act 1988.

‘Working Day’ means a day of the week on which the Registered Bank’s head office is open for business.

3. Form, Frequency and Distribution of Disclosure Statement

(1) Subject to the Act, every Registered Bank shall Publish not later than three months after each Balance Date (or in the case of the first Disclosure Statement required by this Order for a Registered Bank which becomes a Registered Bank after 1 October 1998, within such period as the Reserve Bank shall specify) a Disclosure Statement which shall:

(a) contain the information that is prescribed in Part II to Part V of this Order; and

(b) comply with the Act.

(2) Disclosure Statements shall be Published in the following manner:

(a) every Registered Bank shall prominently display the Registered Bank’s most recent Key Information Summary at the Registered Bank’s head office, every branch of the Registered Bank, every other Premises of the Registered Bank, and every Premises of an agency of the Registered Bank primarily engaged in the business of the Registered Bank;

(b) every Registered Bank shall provide to any person a copy of its most recent Key Information Summary immediately upon request and at no charge;

(c) where a Registered Bank publishes information on an internet web site which includes any information directed primarily at its New Zealand customers or potential customers, the Registered Bank shall make available or display a copy of its most recent Key Information Summary on that internet web site;

(d) every Registered Bank shall notify each of its customers holding a Direct Banking Account of the availability of its most recent Key Information Summary, as soon as is practicable after the publication of that Key Information Summary, and shall state that the Key Information Summary is available immediately upon request and at no charge;

(e) every Registered Bank shall provide a copy of its most recent General Disclosure Statement at no charge, immediately upon request to any person requesting a copy where the request is made at the Registered Bank’s head office and within five Working Days where the request is made at any branch of the Registered Bank, any other Premises of the Registered Bank, or any Premises of an agency of the Registered Bank.