✨ Banking Definitions
1058
NEW ZEALAND GAZETTE, No. 40
27 FEBRUARY 2008
if the members of the group were companies formed and
registered in New Zealand
generally accepted accounting practice has the same meaning
as in section 3 of the Financial Reporting Act 1993
group of closely related counterparties has the same meaning
as in NZ IFRS 7
holding company has the same meaning as in section 5 of the
Companies Act 1993
immediate relative, in relation to any person, means their
spouse, civil union partner, or de facto partner (as defined in the
Property (Relationships) Act 1976), and any parent, brother,
sister or child, in each case whether or not adoptive, of that
person or of their spouse, civil union partner, or de facto partner
independent director, in relation to an overseas bank, means a
director who is not—
(a) an employee of the overseas bank; and
(b) a director, trustee, or employee of—
(i) a holding company of the overseas bank; or
(ii) any other entity capable of controlling or
significantly influencing the overseas bank
individual credit impairment allowance means an allowance
for credit impairment loss on individual assets
individually impaired asset means a financial asset that is
individually determined to be impaired at reporting date in
accordance with NZ IAS 39 paragraphs 58 to 62
insurance business, in relation to a registered bank, has the
same meaning as in the conditions of registration for the
registered bank
interest rate repricing date, in relation to the whole or part of
a financial instrument, means the earlier of the date on which,
in accordance with the terms of the financial instrument,—
(a) the interest rate reset date next occurs (being the date on
which the rate of interest payable in respect of the
whole or part (as applicable) of the financial instrument
can or will alter); or
(b) a principal sum is due and payable; or
(c) if no principal sum is due and payable, the maturity date
occurs
interest rate risk has the same meaning as in NZ IFRS 7
interim accounting period means—
(a) the first 6 month period of an accounting period; or
(b) if clause 25 applies, the interim accounting period
specified by the Reserve Bank
issuer has the same meaning as in section 4 of the Financial
Reporting Act 1993
material,—
(a) in relation to a statement, fact, or item to which
generally accepted accounting practice applies, has the
meaning given to it by generally accepted accounting
practice; or
(b) in relation to a statement, fact, or item to which
generally accepted accounting practice does not apply,
means that the inclusion or omission of the statement,
fact, or item, or the method of treating the disclosure of
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 40
Gazette.govt.nz —
NZ Gazette 2008, No 40
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Registered Bank Disclosure Statement Order
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💰 Finance & Revenue25 February 2008
Banking, Disclosure, Order, Reserve Bank, Capital Adequacy, Risk Management, Audit Requirements, Definitions, Financial Instruments