New Zealand Gazette – 2008 – No. 40

Page 954

✨ Bank Disclosure Statement Requirements

954 NEW ZEALAND GAZETTE, No. 40 27 FEBRUARY 2008

(5) A statement whether there is a board audit committee, and if so,
the total number of persons who comprise the audit committee,
and of these, the number who are—

(a) directors (other than independent directors); and
(b) independent directors.

(6) The policy of the board of directors for avoiding or dealing
with conflicts of interest which may arise from the personal,
professional or business interests of the directors or any of
them.

11 Auditors
The name and address of any auditor whose report is referred to
in the disclosure statement:

12 Conditions of registration
(1) A copy of the conditions of registration that applied at the date
on which the signing of the disclosure statement is completed.

(2) If applicable, a description of any changes to the conditions of
    registration that have occurred since the signing of the previous
    disclosure statement is completed, including the dates on which
    the changes occurred.

(3) A statement of the date on which the conditions of registration
    of the registered bank came into effect.

(4) If the registered bank has not complied with all conditions of
    registration over the accounting period or interim accounting
    period (as applicable), a description of the nature and extent of
    each case of non-compliance.

13 Pending proceedings or arbitration
A description of any pending legal proceedings or arbitration
concerning any member of the banking group, whether in New
Zealand or elsewhere, that may have a material adverse effect
on the registered bank or the banking group.

14 Credit rating
If the registered bank is required, by a notice given to it under
section 80 of the Act, to obtain or maintain a rating of its
creditworthiness or financial condition by a person nominated
or approved by the Reserve Bank, with respect to each rating
obtained or maintained by the registered bank that complies
with the notice given under section 80 of the Act, the following
information:

(a) the name of the person who gave the rating:
(b) the type of rating:
(c) the current rating and all qualifications to that rating:
(d) any change made to the rating in the 2 years
    immediately before the balance date and the date on
    which the change occurred:
(e) descriptions or explanations of all steps in the
    applicable rating scales.

15 Historical summary of financial statements
(1) A historical summary of financial statements for the banking
group—

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