✨ Banking Disclosure Amendments
10 NOVEMBER 2008 NEW ZEALAND GAZETTE, No. 173 4471
5 Clause 20 amended for government guarantees
(1) In clause 20(1)(a), replace "if paragraph (b) does not apply and" with "if" and after "a person" insert "other than a government".
(2) After clause 20(1)(a) insert:
"(aa) if the registered bank has a government guarantee that is provided by means of a contract, a copy of the guarantee contract:"
6 Clause 1 of Schedule 1 amended
Replace clause 1 of Schedule 1 with:
"1 Introductory statement for customers of registered bank
The following statements:
"The purpose of this key information summary is to provide customers and potential customers with information about the financial condition of their bank.
The information contained in the key information summary is explained in the Reserve Bank publication Your bank’s disclosure statement: what’s in it for you? This publication can be obtained from the [Reserve Bank][Reserve Bank and the [name of registered bank]]."
Delete if not applicable
7 New clauses in Schedule 1 for government guarantees
After clause 3 in Schedule 1 insert:
"3A Government guarantees
(1) This clause applies if the registered bank has 1 or more government guarantees on the day its directors sign its short form disclosure statement.
(2) A registered bank must make the statements in this clause for each such guarantee.
(3) The following statement:
"[Name of registered bank] has a guarantee under [description of the guarantee – for example, ‘the New Zealand deposit guarantee scheme’]."
(4) Statements:
(a) on how to obtain information about the government guarantee, for example, via an Internet site maintained by or on behalf of a government guarantor; and
(b) to direct the reader to more information on the registered bank’s government guarantee in the registered bank’s general disclosure statement and, if applicable, its supplemental disclosure statement.
3B No New Zealand government deposit guarantee
(1) This clause applies if the registered bank does not have a guarantee under the New Zealand deposit guarantee scheme on the day its directors sign its short form disclosure statement.
Next Page →
NZ Gazette 2008, No 173
✨ LLM interpretation of page content
💰
Registered Bank Disclosure Statement Amendment Order
(continued from previous page)
💰 Finance & Revenue4 November 2008
Banking, Disclosure, Amendment Order, Government Guarantee, Reserve Bank