11 FEBRUARY 2005

NEW ZEALAND GAZETTE, No. 35

941

(b) Nothing in paragraph (a) of this subclause requires an auditor to state whether, in the auditor’s opinion, the financial statements referred to in that paragraph give a true and fair view of the matters to which they relate, provided that the General Disclosure Statement complies with clause 15 (2) of this Order.

(2A) Where a Registered Bank voluntarily adopts NZ IASs and NZ IFRSs over the period from 1 January 2005 to 31 December 2006 (both inclusive), the following additional requirements shall apply:

(a) subclause 12 (1) (c) and subclause 12 (2) (a) (iii) of this clause shall be interpreted to relate to the reporting exemption provided by paragraph 2.1 (e) of NZ IAS 30;

(b) where there is any differential reporting framework which applies to entities adopting NZ IASs and NZ IFRSs, then subclause 12 (1) (b) and subclause 12 (2) (a) (ii) shall be interpreted to relate to that differential reporting framework;

(c) the financial statements of the Registered Bank and Banking Group shall be presented in New Zealand dollars.

(3) The General Disclosure Statement shall contain the supplementary information for the Accounting Period or the Interim Accounting Period prescribed by Schedules 1 to 6 of this Order unless this information is included in the financial statements prepared in accordance with clause 12 (1), 12 (2) or 12 (2A) of this Order.

(4) The General Disclosure Statement shall contain the supplementary information for the Accounting Period or the Interim Accounting Period prescribed by Schedules 7 to 8 of this Order unless this information is included in the financial statements prepared in accordance with clause 12 (1), 12 (2) or 12 (2A) of this Order.

13. Historical Summary of Financial Statements—(1) The General Disclosure Statement shall contain a historical summary of financial statements in respect of the Banking Group.

(2) The amounts in the historical summary of financial statements required to be disclosed pursuant to subclause (1) of this clause shall be amounts that appear in financial statements of the Banking Group giving a true and fair view of the results and state of affairs of the Banking Group for the period concerned, or, where no such statements have been prepared, amounts that would have appeared in such statements if they had been prepared.

(3) The amounts that appear in the historical summary of financial statements required to be disclosed pursuant to subclause (1) of this clause shall include the following:

(a) total interest revenue;

(b) total interest expense;

(c) total other revenue;

(d) total Impaired Asset expense;

(e) total other expenses;

(f) net profit or loss before taxation and extraordinary items;

(g) taxation;

(h) net profit or loss before extraordinary items;

(i) extraordinary items;

(j) net profit or loss after extraordinary items;

(k) minority interests;

(l) the amount of branch profits repatriated;

(m) profit or loss retained;

(n) total assets;

(o) total Impaired Assets;

(p) total liabilities;

(q) head office account;

in the case of a Disclosure Statement prepared in respect of:

(r) an Accounting Period, for each of the five most recent consecutive Accounting Periods; or

(s) an Interim Accounting Period, for that Interim Accounting Period and each of the five most recent consecutive Accounting Periods.

(4) The General Disclosure Statement shall state whether the amounts required to be disclosed pursuant to subclause (3) of this clause have been taken from audited financial statements.

14. Members of Banking Group—The General Disclosure Statement shall state the name and nature of business of each member of the Banking Group other than the Registered Bank.

14A. Insurance Business—The General Disclosure Statement shall state whether the Banking Group conducts any Insurance Business, and if so, contain the following information:

(1) the aggregate amount of Insurance Business, where the amount so disclosed is calculated in accordance with the Registered Bank’s Conditions of Registration;

(2) an explanation as to how the Banking Group manages its Insurance Business, including information on whether:

(a) any Insurance Business is conducted in special purpose subsidiaries whose business activities predominantly comprise Insurance Business, and if so, the name of each of those subsidiaries, and a description of the Insurance Business conducted in each subsidiary; and

(b) in relation to any other member of the Banking Group, any Insurance Business is accounted for in its statement of financial position, and if so:

(i) the name of that member;

(ii) whether the assets relating to that member’s Insurance Business are managed and accounted for as separate funds;

(iii) a description of the Insurance Business conducted by that member;