23 FEBRUARY 2007
NEW ZEALAND GAZETTE, No. 21
475

(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:

(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 or by paragraph (a) of the definition of “financial institution” in paragraph E23 of NZ IFRS 7, as applicable;
(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;