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NEW ZEALAND GAZETTE, No. 21

23 FEBRUARY 2007

Adoption of NZ IASs and NZ IFRSs

7. The information required to be disclosed pursuant to subclauses 8(a) and (c) of this Schedule shall include comparative
   figures for the previous corresponding period.

8. Where a Registered Bank has adopted NZ IASs and NZ IFRSs the General Disclosure Statement shall contain, in respect
   of the Registered Bank and Banking Group:

(a) in terms of the provisions of NZ IAS 24, information on:

(i) the nature and amount (or amount of outstanding balances, as applicable), of each type of related party
transaction set out in NZ IAS 24;

(ii) the nature and recorded value (or the total of outstanding balances, as applicable), of each of the following
types of related party transactions:

    (A) management contracts;

    (B) agency relationships;

    (C) taxation grouping arrangements;

    (D) debts or other amounts owing which have been forgiven over the reporting period;

    (E) transactions which have taken place at nil or nominal value, including a brief description of those
    transactions and a statement that no or nominal charge has been made.

The disclosures required by this subclause 8(a) are subject to a Materiality criterion;

(b) the information that is required to be disclosed in accordance with paragraphs 6.4, 6.8, 6.9, 6.10, and 6.13 of
FRS-37: Consolidating Investments in Subsidiaries;

(c) where included in the income statement:

(i) the net gain or loss attributable to derivatives used for hedging purposes that do not qualify as designated
and effective hedging instruments in terms of the provisions of NZ IAS 39;

(ii) the net amount relating to the ineffective portion of any hedging activities that qualify for hedge accounting
in terms of the provisions of NZ IAS 39;

(iii) the net gain or loss on financial assets, other than on financial assets held for trading, designated as at fair
value through profit or loss in terms of the provisions of NZ IAS 39;

(iv) the net gain or loss on financial liabilities, other than on financial liabilities held for trading, designated as at
fair value through profit or loss in terms of the provisions of NZ IAS 39.

The disclosures required by this subclause 8(c) are subject to a Materiality criterion;

(d) where risk attaches to monetary assets and monetary liabilities set-off in accordance with NZ IAS 32:

(i) the gross amount of monetary assets and monetary liabilities set-off;

(ii) the nature of the risk attaching to the assets and liabilities set-off;

(iii) the revenues and expenses relating to the assets and liabilities set-off.

The disclosures required by this subclause 8(d) are subject to a Materiality criterion.

The disclosure requirements of this subclause shall be interpreted in accordance with the provisions of FRS-27:
Right of Set-Off;

(e) where an entity is party to an agreement to set-off assets and liabilities under certain circumstances in the future,
and the set-off meets the set-off criteria described in NZ IAS 32, details of the assets and liabilities subject to the
future right of set-off.

The disclosures required by this subclause 8(e) are subject to a Materiality criterion.

Second Schedule

The Size and Nature of Business of the Registered Bank and Banking Group

The General Disclosure Statement shall contain the information specified below, in such format as the Registered Bank
determines, derived in accordance with the Reserve Bank document entitled Capital Adequacy Framework (BS2) as amended
from time to time, in respect of the Registered Bank and the Banking Group as at the Balance Date.

Risk Weighted Exposures

(1) Calculation of Balance Sheet Exposures