28 AUGUST NEW ZEALAND GAZETTE 3113

whether the information disclosed complies with the provisions of this Order for determining and disclosing that information.

The disclosure statements required by this Order in Council must be signed by all the directors of the bank. A director may authorise in writing another person to sign on his or her behalf.

In addition, the Order in Council makes provision for the Reserve Bank to require a newly registered bank to publish an initial disclosure statement, so that there is no gap between the time the bank commences business and the time a disclosure statement is made available to its customers.

The Reserve Bank of New Zealand Act provides for criminal and civil penalties where a bank’s disclosure statement is found to be false or misleading.

This Order in Council is administered in the Reserve Bank of New Zealand.

au5446

Registered Bank Disclosure Statement (Off-Quarter—Overseas Incorporated Registered Banks) Order 1998

MICHAEL HARDIE BOYS, Governor-General

ORDER IN COUNCIL

At Wellington this 24th day of August 1998

Present:
His Excellency the Governor-General in Council

Pursuant to section 81(1) of the Reserve Bank of New Zealand Act 1989, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, and on the advice of the Treasurer given in accordance with a recommendation of the Reserve Bank of New Zealand, hereby makes the following Order.

Analysis

1. Title, Application and Commencement

Part I—Preliminary

2. Interpretation

3. Form, Frequency and Distribution of Short Form Disclosure Statement

4. General Provisions Relating to Content of Short Form Disclosure Statement

Part II—Key Information Summary

5. Content of Key Information Summary

Part III—General Disclosures to be Contained in General Short form Disclosure Statement

6. General Matters

7. Guarantee Arrangements

8. Conditions of Registration

9. Credit Ratings

Part IV—Financial and Supplementary Disclosures to be Contained in General Short Form Disclosure Statement

10. Content of Financial and Supplementary Disclosures

11. Auditor’s Report

12. The Directors’ Statement

13. Financial Statements of the Overseas Bank and Overseas Banking Group

Schedules

1. Short Form Financial Statements

2. The Size and Nature of Business of the Banking Group

3. Capital Adequacy of the Overseas Bank and Overseas Banking Group

4. Asset Quality

5. Concentration of Credit Exposures to Individual Counterparties

6. Risk Management Policies

7. Exposures to Market Risk

8. Measurement of Market Risk Exposure

Order

1. Title, Application and Commencement—(1) This Order may be cited as the Registered Bank Disclosure Statement (Off-Quarter—Overseas Incorporated Registered Banks) Order 1998.

(2) This Order applies to every Registered Bank incorporated overseas.

(3) This Order shall come into force on the 1st day of October 1998 and replaces the Registered Bank Disclosure Statement (Off-Quarter—New Zealand Incorporated Registered Banks) Order 1995 which is hereby consequentially revoked.

(4) The first Short Form Disclosure Statement required by this Order in respect of a Registered Bank shall be in respect of the first Off Quarter Balance Date which occurs after 1 October 1998.

Part I

Preliminary

2. Interpretation—(1) Any term or expression used in this Order that is not defined in this Order:

(a) which is defined in the Act shall, unless the context otherwise requires, have the meaning given to it by the Act;

(b) which is not defined in the Act and which is defined in the Conditions of Registration shall, unless the context otherwise requires, have the meaning given to it by the Conditions of Registration; and

(c) which is not defined in the Act or in the Conditions of Registration shall, unless the context otherwise requires, be interpreted in compliance with generally accepted accounting practice (as that term is defined in section 3 of the Financial Reporting Act 1993).

(2) References in this Order to the singular include the plural and vice versa.

(3) In this Order a reference to an ‘FRS’ is a reference to a Financial Reporting Standard approved or given authoritative support from time to time by the Accounting Standards Review Board pursuant to sections 24 and 27 of the Financial Reporting Act 1993.

(4) In this Order, unless the context otherwise requires:

‘Accounting Period’ has the meaning set out in the Companies Act 1993.

‘Act’ means the Reserve Bank of New Zealand Act 1989.

‘Address for Service’ in relation to:

(a) an individual, means the address of their usual place of business in New Zealand or, if no such address exists, the address of their usual place of business outside New Zealand;

(b) a company within the meaning of section 2(1) of the Companies Act 1993, means the meaning set out in section 187 of that Act.