✨ Banking Disclosure Regulations
2934 NEW ZEALAND GAZETTE, No. 102 24 AUGUST 2012
Part 2
Content of disclosure statements
Subpart 1—General requirements
14 Information must be in English
The information in a disclosure statement must be in English.
15 Disclosure statement not to be false or misleading
In addition to the information that is required in this Order, a disclosure statement—
(a) must contain such other information that, in the opinion of the directors and New Zealand chief executive officer, is necessary or desirable to ensure that the disclosure statement is not false or misleading in any material particular; and
(b) except as otherwise expressly provided in this Order, may contain any other information that the directors and New Zealand chief executive officer consider appropriate to include in the disclosure statement.
16 Requirements when registered bank is unable to disclose information
Subject to clause 17(3), if a registered bank is unable because of systems limitations or because of circumstances beyond its control to disclose information under this Order, the disclosure statement must—
(a) state that fact, and explain those limitations or circumstances; and
(b) contain the closest available alternative to the information that must be disclosed under this Order.
17 Comparative information
(1) Any comparative information that is required to be disclosed under this Order for the previous corresponding accounting period must be restated so that it corresponds to the information disclosed for the current accounting period.
(2) If there has been a material restatement of prior period amounts, the nature of, and the reason for, the restatement must be disclosed.
(3) A registered bank need not disclose comparative information that is not readily available in the time since the last day of the previous corresponding accounting period.
18 Disclosure statement not to contain offer of securities
A disclosure statement—
(a) must not contain any offer (within the meaning of section 2 of the Securities Act 1978) of securities; but
(b) may contain information required for the purposes of regulation 38(3) of the Securities Regulations 2009.
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NZ Gazette 2012, No 102
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Banking Disclosure Regulations
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💰 Finance & RevenueBanking regulations, Disclosure statements, English language requirement, False or misleading information, System limitations, Comparative information, Securities Act 1978