✨ Banking Disclosure Requirements
2488 NEW ZEALAND GAZETTE, No. 88 24 JUNE 2011
(c) the amount of the liabilities that are affected.
(6) If the guarantee has an expiry date,—
(a) a statement of the date the guarantee expires; and
(b) if the overseas bank has an option to roll over or renew the guarantee, a statement explaining that option.
10A Details of government guarantors
(1) The name and address for service of the guarantor.
(2) A statement on how to obtain information about the government guarantee, for example, via an Internet site maintained by or on behalf of the government guarantor.
(3) To the extent the government guarantee is provided by means other than a contract, a statement of how to obtain the legislation, regulations or other documents that set out the terms and conditions of the government guarantee.
(4) A statement on how to obtain the most recent audited financial statements of the government guarantor, for example, via an Internet site maintained by or on behalf of the government guarantor.
(5) The government guarantor’s issuer credit ratings in respect of its long term obligations payable in the currency of its jurisdiction and for each rating—
(a) the name of the person who gave the credit rating;
(b) the current rating and all qualifications to that rating;
(c) each change made to the rating in the 2 years immediately before the balance date and the date on which that change occurred; and
(d) descriptions or explanations of all steps in the applicable rating scales.
10B Details of obligations guaranteed by government guarantors
(1) A description of the obligations guaranteed by the government guarantor.
(2) A statement on whether there are any limits on the amount of the obligations guaranteed and, if so, a brief summary of the nature of those limits.
(3) A statement on whether there are any material conditions applicable to the guarantee other than non-performance by the principal obligor and, if so, a brief summary of those conditions.
(4) If the government guarantee has an expiry date,—
(a) a statement of the date the guarantee expires; and
(b) if the registered bank has an option to roll over or renew the guarantee, a statement explaining that option.
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NZ Gazette 2011, No 88
✨ LLM interpretation of page content
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Schedule 2: Information to be included in general short form disclosure statement
(continued from previous page)
💰 Finance & RevenueBanking, Disclosure statement, Financial information, Registration requirements, Creditors, Subordination, Assets, Liabilities, Guarantees, Government guarantors, Credit ratings, Obligations guaranteed