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NEW ZEALAND GAZETTE, No. 35

11 FEBRUARY 2005

"Tier One Capital" in relation to:

(a) 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;

(b) a Banking Group, means the amount of tier one capital held by the Banking Group, determined in accordance
with the Conditions of Registration;

(c) a Registered Bank, means the amount of tier one capital held by the Registered Bank determined in
accordance with the Reserve Bank document entitled Capital Adequacy Framework (BS2) as amended from
time to time.

"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.

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

(5) Where a Registered Bank voluntarily adopts NZ IASs and NZ IFRSs over the period from 1 January 2005 to 31
December 2006 (both inclusive):

(a) a Specific Provision is deemed to refer to and have the same meaning as an "Allowance for impairment loss", as
defined in NZ IAS 30, which has been allocated to an individual financial asset;

(b) a General Provision is deemed to refer to and have the same meaning as an "Allowance for impairment loss", as
defined in NZ IAS 30, which has been allocated to groups of financial assets;

(c) a Group of Closely Related Counterparties is deemed to refer to and have the same meaning as "Group of closely
related counterparties", as defined in NZ IAS 30;

(d) Equity is deemed to refer to and have the same meaning as "Equity" in the New Zealand Framework of the Institute
of Chartered Accountants of New Zealand;

(e) Asset Acquired Through the Enforcement of Security is deemed to refer to and have the same meaning as "Asset
acquired through the enforcement of security", as defined in NZ IAS 30;

(f) Real Estate Asset Acquired Through the Enforcement of Security is deemed to refer to and have the same meaning
as "Real estate asset acquired through the enforcement of security", as defined in NZ IAS 30;

(g) a Non-Accrual Asset and a Restructured Asset are deemed to refer to an "Other impaired asset" and a "Restructured
asset" respectively, which shall be defined as follows:

(i) "Other impaired asset" means any Credit Exposure for which an impairment loss is required in accordance
with NZ IAS 39 paragraphs 58 to 62 but is not a Restructured asset;

(ii) "Restructured asset" means any Credit Exposure for which:

(A) the original terms have been changed to grant the Counterparty a concession that would not have
otherwise 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 institution’s average cost of
funds, or that a loss is not otherwise expected to be incurred;

where, in this subclause 2 (5) (g), the term Credit Exposure shall have the same meaning as in subclause 2 (4) of
Part I of this Order;

(h) Impaired Asset is deemed to mean an "Other impaired asset", a "Restructured asset", or an "Asset acquired through
the enforcement of security";

(i) any other definition contained in FRS-33, except for the definition of Counterparty, is deemed to refer to and have
the meaning of:

(i) the corresponding definition, meaning, interpretation or guidance contained in NZ IAS 30;

(ii) or where NZ IAS 30 is not applicable, the corresponding definition, meaning, interpretation or guidance
contained in any other NZ IAS or NZ IFRS.

(6) Notwithstanding any other provisions of this Order, if as a result of the date of registration of a Company in terms of the
Companies Act 1993, or as a result of a change in the Balance Date of a Registered Bank or Company, an Accounting Period
of a Registered Bank will be shorter or longer than 12 months, the Reserve Bank may, after consultation with the Company or
the Registered Bank, determine the length of any Interim Accounting Period relating to the shorter or longer Accounting
Period.

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 the date this Order takes effect, 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;