✨ Financial Regulation Order
NEW ZEALAND GAZETTE, No. 121
30 AUGUST 2013
Order
1 Title
This Order is the Registered Bank Disclosure Statements (Overseas Incorporated Registered Banks) Order (No 2) 2013.
2 Commencement
This Order comes into force on 30 September 2013 except for—
(a) clause 27 which comes into force on 29 September 2013; and
(b) subclause 19(4) in Schedule 2 which comes into force on 1 October 2013.
3 Application
This Order applies to a registered bank that is incorporated outside New Zealand.
4 Interpretation
(1) In this Order, unless the context otherwise requires,—
Act means the Reserve Bank of New Zealand Act 1989
address for service, in relation to—
(a) an individual, means the address of their usual place of business in New Zealand or, if no such address exists, the address of their usual place of business outside New Zealand;
(b) a company, means the address for service adopted by the company under section 192 of the Companies Act 1993; or
(c) any other entity, means the address of its principal office or principal place of business in New Zealand or, if no such address exists, its principal office or principal place of business outside New Zealand
allowance for credit impairment loss means an amount which has been created against identified credit losses or in respect of an identified deterioration in the value of any asset or class of asset attributable to an increase in credit risk as set out in NZ IAS 39 paragraphs 58 to 62
applicable financial reporting standard has the same meaning as in section 2(1) of the Financial Reporting Act 1993
banking group, in relation to a registered bank,—
(a) means the financial reporting group; or
(b) if the Reserve Bank has, by notice in writing to the registered bank, after consultation with the registered bank, agreed to or required the inclusion or exclusion of any entity or any part of any entity, means the financial reporting group including or excluding that entity or that part of that entity, as the case may be
Basel II, as the context requires, refers either to the capital adequacy framework set out in the paper "International Convergence of Capital Measurement and Capital Standards" issued by the Basel Committee on Banking Supervision in June 2006 or to a country’s or jurisdiction’s implementation of prudential requirements derived from that framework.
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NZ Gazette 2013, No 121
✨ LLM interpretation of page content
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Registered Bank Disclosure Statements (Overseas Incorporated Registered Banks) Order (No 2) 2013
(continued from previous page)
💰 Finance & Revenue26 August 2013
Financial regulation, Registered banks, Disclosure statements, Reserve Bank, Overseas banks, Order in Council