✨ Banking Regulation Definitions
24 JUNE 2011 NEW ZEALAND GAZETTE, No. 87 2213
(b) one has the power to control the others; or
(c) one has the capacity to exercise significant influence over the others
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 a registered bank, means a director who is not—
(a) an employee of the registered bank; or
(b) a director, trustee, or employee of—
(i) a holding company of the registered bank; or
(ii) any other entity capable of controlling or significantly influencing the registered bankindividual 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 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 risk has the same meaning as in NZ IFRS 7
issuer has the same meaning as in section 4 of the Financial Reporting Act 1993
key management personnel has the same meaning as in NZ IAS 24
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 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 identified and treated as if it were conducted by a company formed and registered in New Zealand
NZ IAS 24 means New Zealand Equivalent to International Accounting Standard 24 (Related Party Disclosures), approved under the Financial Reporting Act 1993
NZ IAS 32 means New Zealand Equivalent to International Accounting Standard 32 (Financial Instruments: Presentation), approved under the Financial Reporting Act 1993
NZ IAS 34 means New Zealand Equivalent to International Accounting Standard 34 (Interim Financial Reporting), approved under the Financial Reporting Act 1993
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NZ Gazette 2011, No 87
✨ LLM interpretation of page content
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Registered Bank Disclosure Statements (Overseas Incorporated Registered Banks) Order (No 2) 2011
(continued from previous page)
💰 Finance & Revenue20 June 2011
Banking regulation, Disclosure statements, Reserve Bank of New Zealand, Overseas banks, Financial transparency, Audit reports, Risk management, Asset quality, Credit exposures