23 FEBRUARY 2007

NEW ZEALAND GAZETTE, No. 21

423

(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 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 primarily engaged in the business of the
Registered Bank;

(f) every Registered Bank shall provide a copy of its most recent Supplemental Disclosure Statement, or such part of it
as is requested, at no charge, immediately 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
primarily engaged in the business of the Registered Bank, unless the content of a Supplemental Disclosure
Statement is included in the General Disclosure Statement; and

(g) every Registered Bank shall deliver a copy of its most recent Disclosure Statement to the Reserve Bank on the
Publication Date.

4. General Provisions Relating to Content of Disclosure Statement—

(1) (a) In addition to the information which is required by this Order, a Disclosure Statement:

(i) shall contain such other information as in the opinion of the Directors it is necessary or desirable to include
so as to ensure that any information contained in the Disclosure Statement is not false or misleading in any
Material particular; and

(ii) subject to any express provision to the contrary in this Order, may contain such other information as the
Directors consider appropriate.

(b) A Disclosure Statement shall not contain any offer (within the meaning of that term as defined in section 2 of the
Securities Act 1978) of any Debt Securities, but may contain information required for the purposes of Regulation
21(2) and Regulation 22(d) of the Securities Regulations 1983.

(2) Subject to the Act and this clause, nothing in this Order shall limit the provisions of any other enactment.

(3) Where this Order requires or permits a Disclosure Statement to incorporate information about any person, business, or
group in respect of a stated period, that information need not relate to any part of that period for which the person, business,
group or any part thereof did not exist. Where the Disclosure Statement contains information in respect of a period that is less
than the stated period, it shall identify the period in respect of which the information is provided.

(4) The Disclosure Statement shall not state or imply that a person is, or intends to become, a shareholder of the Registered
Bank, or of a member of the Banking Group, without also stating whether that person guarantees any of the obligations of the
Registered Bank or any member of the Banking Group.

(5) Subject to subclause (7) of this clause, where a Registered Bank is unable because of systems limitations or because of
circumstances beyond its control to disclose information which the Registered Bank would, pursuant to this Order, be required
to disclose, the Disclosure Statement shall:

(a) state that fact, and an explanation of the circumstances; and

(b) contain information which is the closest available alternative to that required to be disclosed pursuant to this Order.

(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 has adopted NZ IASs and NZ IFRSs 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 subclause 2(5);

(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".