New Zealand Gazette – 2008 – No. 40

Page 952

✨ Bank Disclosure Requirements



952 NEW ZEALAND GAZETTE, No. 40 27 FEBRUARY 2008

(b) the current rating and all qualifications to that rating;
and

(c) each change made to the rating in the 2 years
immediately before the balance date and the date on
which that change occurred; and

(d) descriptions or explanations of all steps in the
applicable rating scales.

6 Details of guaranteed obligations

(1) A description of the obligations that are guaranteed.

(2) A statement whether there are any limits on the amount of the
obligations guaranteed and, if so, a brief summary of the nature
of those limits.

(3) A statement whether there are any material conditions
applicable to the guarantee other than non-performance by the
principal obligor and, if so, a brief summary of those
conditions.

(4) A statement whether there are any material legislative or
regulatory restrictions in the guarantor’s country of
incorporation which would have the effect of subordinating the
claims under the guarantee of any of the creditors of the
registered bank on the assets of the guarantor, to other claims
on the guarantor, in a winding up of that guarantor.

(5) If there are any such material legislative or regulatory
restrictions,—

(a) the title of the legislation or regulations involved and
    the nature of the subordination of the rights of the
    creditors which they create; and

(b) the amount of the liabilities that are affected.

7 Availability of copy of full guarantee contract

(1) A statement that a copy of the registered bank’s most recent
supplemental disclosure statement, which contains a copy of
the full guarantee contract, will be provided immediately at no
charge to any person requesting a copy if the request is made at
the registered bank’s head office.

(2) The categories of places where a copy of the registered bank’s
most recent supplemental disclosure statement, which contains
a copy of the full guarantee contract, will be provided at no
charge to any person within 5 working days of a request for a
copy having been made.

(3) Subclauses (1) and (2) do not apply if the content of the
supplemental disclosure statement is included in the general
disclosure statement.

8 Material cross guarantees

(1) If a person has entered into a material cross guaranteeing
arrangement with the registered bank, the matters set out in
subclauses (2) to (4).

(2) A description of the guaranteeing group and the nature of the
cross guaranteeing arrangement.

(3) The matters required to be disclosed under clause 6(2) to (5) as
if those provisions applied to the guarantees of the obligations
of the registered bank, as well as to the guarantees the



Next Page →



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

💰 Registered Bank Disclosure Statement Order 2008 (continued from previous page)

💰 Finance & Revenue
Banking, Disclosure Statements, Financial Information, Corporate Data, Credit Ratings, Profitability, Capital Adequacy, Asset Quality, Credit Exposure, Voting Securities, Guarantees