✨ Banking Disclosure Definitions
27 FEBRUARY 2008
NEW ZEALAND GAZETTE, No. 40
the statement, fact, or item, would be likely to influence
a reasonable user of the disclosure statement
New Zealand business means all business, operations, or
undertakings conducted in or from New Zealand
New Zealand chief executive officer has the same meaning as
in section 2(1) of the Act
NZ IAS 24—
(a) means New Zealand Equivalent to International
Accounting Standard 24 (Related Party Disclosures),
approved under the Financial Reporting Act 1993; and
(b) includes amendments to that standard
NZ IAS 32—
(a) means New Zealand Equivalent to International
Accounting Standard 32 (Financial Instruments:
Disclosure and Presentation), approved under the
Financial Reporting Act 1993; and
(b) includes amendments to that standard
NZ IAS 39—
(a) means New Zealand Equivalent to International
Accounting Standard 39 (Financial Instruments:
Recognition and Measurement), approved under the
Financial Reporting Act 1993; and
(b) includes amendments to that standard
NZ IFRS 7—
(a) means New Zealand Equivalent to International
Financial Reporting Standard 7 (Financial Instruments:
Disclosures) approved under the Financial Reporting
Act 1993; and
(b) includes amendments made to that standard
90 day past due asset has the same meaning as in NZ IFRS 7
and to avoid doubt includes an asset other than a restructured
asset, other individually impaired asset, or financial asset
acquired through the enforcement of security, for which, in
relation to the contracted terms, conditions, or limits that
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
non-financial asset acquired through the enforcement of
security means any asset which is legally owned as the result
of enforcing security, other than a financial asset or a building
occupied by the bank
other asset acquired through the enforcement of security
means any asset which is legally owned as the result of
enforcing security, other than a financial asset or a land or
building asset
other asset under administration means any asset that is not
an impaired asset or a 90 day past due asset, but where the
counterparty—
1059
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 40
Gazette.govt.nz —
NZ Gazette 2008, No 40
✨ LLM interpretation of page content
💰
Registered Bank Disclosure Statement Order Definitions
(continued from previous page)
💰 Finance & Revenue25 February 2008
Banking, Disclosure, Order, Reserve Bank, Definitions, Financial Instruments, Accounting Standards