936

NEW ZEALAND GAZETTE, No. 35

11 FEBRUARY 2005

(6) The comparative information required to be disclosed by this Order for the previous corresponding period shall be
restated so that it corresponds to the information presented for the current period. Where there has been a Material restatement
of prior period amounts, the nature of, and the reason for, the restatement shall be disclosed.

(7) A Registered Bank need not disclose comparative information where this information is not readily available, provided
that comparative information shall be deemed to be readily available 12 months after the date at which such information was
first required to be Published.

(8) A Registered Bank shall disclose the currency used where financial statements, or information drawn from financial
statements, are disclosed in a currency other than New Zealand dollars.

(9) Other than in the case of copies of guarantee contracts, all information disclosed in accordance with this Order shall be
disclosed in English.

(10) Where a Registered Bank voluntarily adopts NZ IASs and NZ IFRSs over the period from 1 January 2005 to
31 December 2006 (both inclusive), all the requirements of this Order shall apply to that Registered Bank, using, as applicable,
the following principles as a basis for the interpretation of the provisions of this Order:

(a) all the terms set out in subclause 2 (4) of Part I of this Order shall have the same meaning as in that subclause,
unless they are modified by subclause 2 (5) of this Order;

(b) any reference in this Order to the phrase “provision for expected losses” is deemed to refer to an “Allowance for
impairment loss” of the type defined in NZ IAS 30;

(c) any reference in this Order to the phrase “provision for diminution in asset value” is deemed to refer to “an
allowance for impairment loss created in respect of a non-financial asset”;

(d) any reference in this Order to the term “pre-provision” is deemed to refer to the term “pre-allowance”;

(e) information shall be disclosed using terminology deemed to apply by this subclause 4 (10) or by subclause 2 (5) of
Part I of this Order, except that information relating to Specific Provisions shall be disclosed using the terminology
“Allowance for impairment loss on individual assets”, and information relating to General Provisions shall be
disclosed using the terminology “Allowance for impairment loss on groups of financial assets”.

Part II

Key Information Summary

5. Content of Key Information Summary—(1) Subject to subclause (2) of this clause, the Key Information Summary
   shall contain, in the same order and under the same headings, the information required to be disclosed pursuant to subclause
   (6) of this clause, as at the Registered Bank’s Balance Date or for the Accounting Period or Interim Accounting Period, as the
   case may be, unless otherwise stated.

(2) If a Key Information Summary would be false or misleading as a result of stating the information required to be disclosed
pursuant to subclause (6) of this clause, information and explanations that will make the Key Information Summary not false
or misleading shall also be stated under the relevant heading.

(3) Where applicable, the information contained in the Key Information Summary shall be taken from the information
contained in the General Disclosure Statement.

(4) The Key Information Summary may contain additional information, to which the information stated pursuant to
subclause (6) of this clause may refer by way of note, provided that such information is set out after the information required to
be disclosed pursuant to subclause (6) of this clause.

(5) The information required to be disclosed pursuant to subclause (6)(d) to (h) of this clause shall include comparative
figures for the previous corresponding period.

(6) The Key Information Summary shall contain:

(a) Introductory information—
the following statement:
“The purpose of this Key Information Summary is to provide customers and potential customers with
information about the financial condition of their bank.
Neither the New Zealand Government nor the Reserve Bank of New Zealand guarantees or insures bank
deposits.
The information contained in the Key Information Summary is explained in the Reserve Bank publication
“Your Bank’s Disclosure Statement - What’s In It For You?”, which can be obtained from the Reserve
Bank.” (or, at the option of the Registered Bank, “... from the Reserve Bank and the (name of bank).”);

(b) Corporate information—
(i) the name of the Overseas Bank and its country of domicile;
(ii) if applicable, the name of any person that is the Ultimate Parent Bank of the Overseas Bank and its country of
domicile;
(iii) if applicable, the name of any person that is the Ultimate Holding Company of the Overseas Bank and its
country of domicile;

(c) Credit rating—
if the Registered Bank is required, by a notice given to it under section 80 of the Act, to obtain or maintain a rating
of its creditworthiness or financial condition by a person nominated or approved by the Reserve Bank, with respect
to each rating obtained or maintained by the Registered Bank that complies with the notice given under section 80:
(i) the name of the person who gave the rating;
(ii) the type of rating;
(iii) the current rating and all qualifications to that rating;
(iv) any changes made to the rating in the two years preceding the Balance Date and the date on which any such
change occurred;