23 FEBRUARY 2007

NEW ZEALAND GAZETTE, No. 21

427

Registered Bank or any member of the Banking Group, be given to any other person of like circumstances or
means, or which could otherwise be reasonably likely to influence Materially the exercise of that Director’s
duties;
(ii) whether the Director is an executive Director;
(iii) whether the Director is an Independent Director; and
(iv) the names of all companies, other than those which are members of the Banking Group, of which the
Director holds office as a director;
(da) whether there is a board audit committee, and if so, the total number of persons who comprise the audit committee,
and of these, the number who are:
(i) Directors (other than Independent Directors);
(ii) Independent Directors;
(e) the policy of the board of Directors for avoiding or dealing with conflicts of interest which may arise from the
personal, professional or business interests of the Directors or any of them.

9. Conditions of Registration—(1) The General Disclosure Statement shall either:
   (a) state that a copy of the Registered Bank’s most recent Supplemental Disclosure Statement, which contains a copy
   of the Conditions of Registration applicable as at the date on which the signing of the Disclosure Statement for or
   on behalf of all Directors is completed, will be provided immediately at no charge to any person requesting a copy
   where the request is made at the Registered Bank’s head office; and
   (b) specify the categories of places where a copy of the Registered Bank’s most recent Supplemental Disclosure
   Statement, which contains a copy of the Conditions of Registration applicable as at the date on which the signing of
   the Disclosure Statement for or on behalf of all Directors is completed, will be provided at no charge to any person
   within 5 Working Days of a request for a copy having been made; or
   (c) contain a copy of the Conditions of Registration applicable as at the date on which the signing of the Disclosure
   Statement, for or on behalf of all Directors, is completed.
   (2) The General Disclosure Statement or the Supplemental Disclosure Statement, as applicable, shall state the date as from
   which the Conditions of Registration published in accordance with subclause (1) of this clause apply.

10. Pending Proceedings or Arbitration—The General Disclosure Statement shall contain a description of any pending
    legal proceedings or arbitration concerning any member of the Banking Group, whether in New Zealand or elsewhere, that
    may have a Material adverse effect on the Registered Bank or the Banking Group.

11. Credit Ratings—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 the
    General Disclosure Statement shall state:
    (a) the name of the person who gave the rating;
    (b) the type of rating;
    (c) the current rating and all qualifications to that rating;
    (d) any changes made to the rating in the two years preceding the Balance Date and the date on which any such change
    occurred;
    (e) descriptions or explanations of all steps in the applicable rating scales.

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

12. Content of Financial and Supplementary Disclosures—(1) Subject to subclause 12(2A), the General Disclosure
    Statement for the Accounting Period, shall contain or be accompanied by financial statements of the Registered Bank and the
    Banking Group, prepared in accordance with the requirements of the Financial Reporting Act 1993 including, without
    limitation, section 13 of the Financial Reporting Act 1993, as though:
    (a) the references in the Financial Reporting Act 1993 to a “group” were to the Banking Group;
    (b) the Registered Bank and the Banking Group do not qualify for any exemptions pursuant to the Framework for
    Differential Reporting issued by the Institute of Chartered Accountants of New Zealand; and
    (c) the Registered Bank and the Banking Group do not qualify for the reporting exemption provided in paragraph
    4.16(a) of FRS-33.
    (2) (a) Subject to subclause 12(2A), and to paragraph (b) of this subclause, the General Disclosure Statement for the
    Interim Accounting Period, shall contain or be accompanied by financial statements of the Registered Bank and the
    Banking Group prepared in accordance with the requirements of the Financial Reporting Act 1993 including,
    without limitation, section 13 of the Financial Reporting Act 1993, as if the Interim Accounting Period were an
    Accounting Period, and as though:
    (i) the references in the Financial Reporting Act 1993 to a “group” were to the Banking Group;
    (ii) the Registered Bank and the Banking Group do not qualify for any exemptions pursuant to the Framework
    for Differential Reporting issued by the Institute of Chartered Accountants of New Zealand; and
    (iii) the Registered Bank and the Banking Group do not qualify for the reporting exemption provided in
    paragraph 4.16(a) of FRS-33.
    (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 has adopted NZ IASs and NZ IFRSs the following additional requirements shall apply: