✨ Financial Definitions
NEW ZEALAND GAZETTE, No. 88
24 JUNE 2011
registered bank means the New Zealand business of the entity that is entered on the register, as if that entity’s business were conducted by a company formed and registered in New Zealand
responsible person means a person authorised in writing by a director or the New Zealand chief executive officer to sign the disclosure statement of a registered bank in accordance with section 82 of the Act
restructured asset has the same meaning as in NZ IFRS 7
retail deposit has the same meaning as in the conditions of registration
subsidiary means a subsidiary within the meaning of sections 5 to 8 of the Companies Act 1993
tier one capital, in relation to an overseas bank or overseas banking group, means the amount of tier one capital held by the overseas bank or overseas banking group determined in accordance with the requirements of the authority having the power to impose minimum capital requirements on that overseas bank or overseas banking group in its country of domicile
ultimate holding company, in relation to a registered bank, means the body corporate that—
(a) is the registered bank’s holding company; and
(b) is not itself a subsidiary of another body corporate; and
(c) is not a bank
ultimate parent bank, in relation to a registered bank, means the bank that—
(a) is the registered bank’s holding company; and
(b) is not itself a subsidiary of another bank
working day means a day of the week on which the head office of a registered bank is open for business.
(2) A term or expression that is used in this order, but not defined in it,—
(a) has, in relation to a registered bank whose conditions of registration define the term or expression, the same meaning as in those conditions of registration, as amended from time to time; or
(b) has, if paragraph (a) does not apply and the term or expression is defined in the Act, the same meaning as in the Act; or
(c) must, if neither paragraph (a) nor paragraph (b) applies, be interpreted in a way that complies with generally accepted accounting practice, where applicable.
(3) A reference in this order to material which is incorporated by reference under the Act refers to the material as it exists on the day this order commences together with any amendments to the material that are promulgated before or on the day this order commences.
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NZ Gazette 2011, No 88
✨ LLM interpretation of page content
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Registered Bank Disclosure Statement Order 2011
(continued from previous page)
💰 Finance & RevenueFinancial regulation, Definitions, Capital, Disclosure statements, Banking terms, Asset classification