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NEW ZEALAND GAZETTE, No. 21

23 FEBRUARY 2007

“NZ IFRS” means a New Zealand International Financial Reporting Standard approved by the Accounting Standards
Review Board as an Approved Financial Reporting Standard.

“OECD Government” means the central government of any of the countries specified in the list of OECD countries
contained in Appendix One to the Reserve Bank document entitled Capital Adequacy Framework (BS2), as amended
from time to time.

“Off Quarter Balance Date” means the last day of a First Quarter Accounting Period or Third Quarter Accounting Period.

“Other Asset Acquired Through the Enforcement of Security” has the same meaning as in FRS-33, as amended from
time to time.

“Other Asset Under Administration” means any Credit Exposure which is not an Impaired Asset or a Past Due Asset, but
which is to a Counterparty:

(a) who is in receivership, liquidation, bankruptcy, statutory management or any form of administration in
New Zealand; or

(b) who is in any other equivalent form of voluntary or involuntary administration in an overseas jurisdiction.

“Other Security” has the same meaning as in FRS-33, as amended from time to time.

“Overseas Bank” means a financial institution incorporated outside New Zealand which has been authorised, registered,
or licensed as a bank in its country of domicile by the appropriate banking supervisory authority and, unless the context
otherwise requires, is the bank of which the Registered Bank is the New Zealand branch.

“Overseas Banking Group” means an Overseas Bank and all other entities included in the group for the purposes of
public reporting of group financial statements in the country of domicile of the Overseas Bank.

“Past Due Asset” means any Credit Exposure which has not been operated by the Counterparty within its key terms for at
least 90 days and which is not an Impaired Asset, and for the sake of clarity, includes an asset for which, in relation to
the contracted terms, conditions, or limits which applied to the asset immediately before non-performance commenced:

(a) any payment of principal, interest, or other forms of monies owing is overdue, or has not been paid in
accordance with the asset’s terms and conditions, for at least 90 days; or

(b) amounts owing under revolving facilities have been continuously outside of limits for at least 90 days.

“Premises” means any staffed premises of the Registered Bank or an agency of the Registered Bank to which the
Registered Bank’s customers or potential customers have access in order to conduct banking business.

“Publication Date”, in respect of a Short Form Disclosure Statement, means the date the Short Form Disclosure
Statement is Published in accordance with clause 3 of this Order.

“Publish” includes distribute, make available and disseminate.

“Rate Insensitive Retail Assets” means that amount of the Financial Assets held by the Banking Group which the
Registered Bank reasonably believes is unlikely to be diminished or increased as a result of a Material change in market
interest rates if the interest rate applicable to that Financial Asset (which may be zero) does not change or does not
change Materially.

“Rate Insensitive Retail Liabilities” means that amount of the Financial Liabilities held by the Banking Group which the
Registered Bank reasonably believes is unlikely to be diminished or increased as a result of a Material change in market
interest rates if the interest rate applicable to that Financial Liability (which may be zero) does not change or does not
change Materially.

“Rate Insensitive Retail Product” means either or both of a Rate Insensitive Retail Asset or a Rate Insensitive Retail
Liability.

“Real Estate Asset Acquired Through the Enforcement of Security” has the same meaning as in FRS-33, as amended
from time to time.

“Register” means the register of Registered Banks maintained pursuant to section 69 of the Act.

“Registered Bank” means the New Zealand Business of the entity which is entered on the Register, as if that entity’s
business were conducted by a company formed and registered in New Zealand.

“Responsible Person” means a person authorised in writing by a Director or the New Zealand Chief Executive Officer to
sign the Short Form Disclosure Statement in accordance with section 82 of the Act.

“Restructured Asset” means any Credit Exposure which is not a Non-Accrual Asset and for which:

(a) the original terms have been changed to grant the Counterparty a concession that would not otherwise have
been available, due to the Counterparty’s difficulties in complying with the original terms;

(b) the revised terms of the facility are not comparable with the terms of new facilities with comparable risks; and

(c) the yield on the asset following restructuring is equal to, or greater than, the average cost of funds of the
Registered Bank or a member of the Banking Group, or that a loss is not otherwise expected to be incurred.

“Retail Deposit” has the same meaning as in the Conditions of Registration.

“Short Form Disclosure Statement”, in relation to a Registered Bank, means a document Published by that Registered
Bank under sections 81 or 83 of the Act which shall comprise a General Short Form Disclosure Statement,
Key Information Summary and Supplemental Disclosure Statement.

“Specific Provision” has the same meaning as in FRS-33, as amended from time to time.

“Subsidiary” means a subsidiary within the meaning of sections 5 to 8 of the Companies Act 1993.

“Supplemental Disclosure Statement” means that part of a Short Form Disclosure Statement which contains the
information prescribed in Part V of this Order.

“Third Quarter Accounting Period” means, subject to the application of subclause 2(6):

(a) the first nine month period of an Accounting Period; and

(b) where an Accounting Period will be 15 months, the first 12 month period of an Accounting Period.