✨ Banking Regulations Definitions
24 JUNE 2011
NEW ZEALAND GAZETTE, No. 88
2471
real estate asset acquired through the enforcement of security means any land or building which is legally owned as the result of enforcing security, other than a building occupied by the bank
register means the register of registered banks maintained under section 69 of the Act
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
related party has the same meaning as in NZ IAS 24
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
short form disclosure statement means a disclosure statement that comprises the documents set out in clause 5(1)
subsidiary means a subsidiary within the meaning of sections 5 to 8 of the Companies Act 1993
third quarter accounting period means—
(a) the first 9 month period of an accounting period; or
(b) if clause 21 applies, the third quarter accounting period determined by the Reserve Bank
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;
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NZ Gazette 2011, No 88
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Definitions for Banking Regulations
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