23 FEBRUARY 2007

NEW ZEALAND GAZETTE, No. 21

429

states, with respect to the financial statements and supplementary information prepared in accordance with subclauses 12(1),
12(2), 12(2A), 12(3), 12(4) and clause 14A of this Order:

(a) the work done by the auditor;

(b) the scope and limitations of the audit;

(c) the existence of any relationship (other than that of auditor) which the auditor has with, or interest the auditor has
in, the Registered Bank and any of its Subsidiaries or in-substance subsidiaries;

(d) whether the auditor has obtained all the information and explanations that the auditor has required;

(e) whether, in the auditor’s opinion, as far as appears from an examination of them, proper accounting records have
been kept by the Registered Bank and the Banking Group;

(f) whether, in the auditor’s opinion, the financial statements of the Registered Bank and the Banking Group comply
with generally accepted accounting practice, and if they do not, the respects in which they fail to comply;

(g) where applicable, whether, in the auditor’s opinion, the supplementary information has been prepared in accordance
with guidelines issued pursuant to section 78(3) of the Act (if any) or any Conditions of Registration, and is in
accordance with the books and records of the Registered Bank and the Banking Group;

(h) whether, in the auditor’s opinion, and having regard to any information or explanations that may have been added
by the Registered Bank pursuant to sections 11(2) and 14(2) of the Financial Reporting Act 1993, the financial
statements of the Registered Bank and the Banking Group give a true and fair view of the matters to which they
relate and, if they do not, the respects in which they fail to give such a view;

(i) whether, in the auditor’s opinion, the supplementary information disclosed in accordance with clause 12(3) of this
Order gives a true and fair view of the matters to which it relates and, if it does not, the respects in which it fails to
give such a view; and

(j) whether, in the auditor’s opinion, the supplementary information disclosed in accordance with clause 12(4) of this
Order complies with Schedules 7 and 8 of this Order, and, if it does not, the respects in which it fails to comply
with those Schedules.

(2) A Disclosure Statement Published in respect of an Interim Accounting Period shall contain a copy of a report by an auditor
signed by that auditor either in the auditor’s own name or the name of that auditor’s firm, which either:

(a) complies with the requirements contained in subclause (1) of this clause; or

(b)
(i) with respect to the financial statements prepared in accordance with subclauses 12(1), 12(2) and 12(2A) of
this Order, states:

(A) that the financial statements have been examined by the auditor; and

(B) whether anything has come to the auditor’s attention which would cause the auditor to believe that the
financial statements do not present a true and fair view of the matters to which they relate;

(ii) with respect to the supplementary information prepared in accordance with subclause 12(3) and clause 14A
of this Order, states:

(A) that the supplementary information has been examined by the auditor; and

(B) whether anything has come to the auditor’s attention which would cause the auditor to believe that the
supplementary information does not present a true and fair view of the matters to which it relates;

(iii) with respect to the supplementary information prepared in accordance with clause 12(4) of this Order, states:

(A) that the supplementary information has been examined by the auditor; and

(B) whether anything has come to the auditor’s attention which would cause the auditor to believe that the
supplementary information does not comply with Schedules 7 and 8 of this Order.

16. Other Material Matters—The General Disclosure Statement shall state particulars of any matters relating to the
    business or affairs of the Registered Bank and the Banking Group which are not contained elsewhere in the General Disclosure
    Statement and which would, if disclosed, Materially affect the decision of a person to subscribe for Debt Securities of which
    the Registered Bank or any member of the Banking Group is the Issuer.

17. The Directors’ Statement—The General Disclosure Statement shall contain:

(1) a statement by the Directors as to whether each Director believes, after due enquiry, that:

(a) the Disclosure Statement contains all the information that is required by this Order;

(b) the Disclosure Statement is not false or misleading;

as at the date on which the Disclosure Statement is signed; and

(2) a statement by the Directors as to whether each Director believes, after due enquiry, that:

(a) the Registered Bank has complied with the Conditions of Registration;

(b) Credit Exposures to Connected Persons (if any) were not contrary to the interests of the Banking Group; and

(c) the Registered Bank had systems in place to monitor and control adequately the Banking Group’s Material risks,
including Credit Risk, concentration of Credit Risk, Interest Rate Risk, Currency Risk, Equity Risk, liquidity risk
and other business risks, and that those systems were being properly applied;
over the Accounting Period or Interim Accounting Period.

Part V

Supplemental Disclosure Statement

18. General Matters—(1) Subject to subclause (2) of this clause, the Supplemental Disclosure Statement shall state only the
    information specified in clauses 19, 20, and 21 of this Order.

(2) If a Supplemental Disclosure Statement would be false or misleading as a result of stating the information specified in
subclause (1) of this clause, information and explanations that will make the Supplemental Disclosure Statement not false or
misleading shall also be stated.