✨ Banking Regulations
24 JUNE 2011 NEW ZEALAND GAZETTE, No. 88
(iii) a statement that the requirement has the potential to impact on the management of the liquidity of the New Zealand operations of the overseas bank.
10 Non-consolidated activities
(1) A statement whether the overseas bank carries on in New Zealand any insurance business that is outside the banking group.
(2) If subclause (1) applies, the following information:
(a) the total assets, total equity, and total profits before and after tax of the insurance business on a consolidated basis, and if the insurance business is carried on by an overseas incorporated company, separately in respect of the overseas company’s group and that group’s New Zealand business:
(b) a statement that—
(i) the most recent publicly available financial statements and group financial statements for the insurance business are contained in the registered bank’s supplemental disclosure statement or general short form disclosure statement (state which); and
(ii) copies of the registered bank’s supplemental disclosure statement or general short form disclosure statement (or that part of which, as applicable) will be provided at no charge to any person requesting a copy in the manner described in clause 12.
(3) A statement whether the overseas bank carries on in New Zealand any non-financial activities that are outside the banking group.
(4) If subclause (3) applies, the following information:
(a) the total assets, total equity, and total profits before and after tax of the non-financial activities on a consolidated basis, and if the non-financial activities are carried on by an overseas incorporated company, separately in respect of the overseas company’s group and that group’s New Zealand business:
(b) a statement that—
(i) the most recent publicly available financial statements and group financial statements for the non-financial activities are contained in the registered bank’s supplemental disclosure statement or general short form disclosure statement (state which); and
(ii) copies of the registered bank’s supplemental disclosure statement or general short form disclosure statement (or that part of which, as applicable) will be provided at no charge to any person requesting a copy in the manner described in clause 12.
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NZ Gazette 2011, No 88
✨ LLM interpretation of page content
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Banking Regulations for Overseas Banks
(continued from previous page)
💰 Finance & RevenueBanking, Overseas banks, Liquidity, Non-consolidated activities, Insurance, Financial statements