New Zealand Gazette – 2008 – No. 40

Page 1082

✨ Banking Disclosure Requirements



1082 NEW ZEALAND GAZETTE, No. 40 27 FEBRUARY 2008

19

Insurance business
A statement whether the banking group carries on any
insurance business, and if so, the following information:

(a) the aggregate amount of insurance business, where the
amount is calculated in accordance with the registered
bank’s conditions of registration:

(b) an explanation as to how the banking group manages its
insurance business, including information on whether—

(i) any insurance business is carried on in special
purpose subsidiaries whose business activities
predominantly comprise insurance business, and
if so,—

(A) the name of each of those subsidiaries;
and

(B) a description of the insurance business
carried on in each subsidiary; and

(ii) in relation to any other member of the banking
group, any insurance business is accounted for
in its statement of financial position, and if so,—

(A) the name of that member; and

(B) whether the assets relating to that
member’s insurance business are
managed and accounted for as separate
funds; and

(C) a description of the insurance business
carried on by that member:

(c) comparative figures for the previous corresponding
period for the information that is required to be
disclosed under paragraph (a).

20

(1) Non-consolidated activities
A statement whether the overseas bank carries on any insurance
business or non-financial activities in New Zealand that are
outside the banking group, and if so, the following
information:

(a) a brief explanation of the overseas bank’s involvement
in that insurance business or those non-financial
activities:

(b) the total assets, total equity, and total profits before and
after tax of that insurance business on a consolidated
basis, and if that insurance business is carried on by an
overseas incorporated company, separately in respect of
the overseas company’s group and that group’s New
Zealand business:

(c) the total assets, total equity, and total profits before and
after tax of those non-financial activities on a
consolidated basis, and if those non-financial activities
are carried on by an overseas incorporated company,
separately in respect of the overseas company’s group
and that group’s New Zealand business:

(d) comparative figures for the previous corresponding
period for the information that is required to be
disclosed under paragraphs (a) to (c).



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2008, No 40


Gazette.govt.nz — PDF NZ Gazette 2008, No 40




✨ LLM interpretation of page content

💰 Banking Disclosure Requirements (continued from previous page)

💰 Finance & Revenue
Disclosure Statement, Banking, Directors, Audit Committee, Conditions of Registration, Insurance Business, Non-consolidated Activities