✨ Banking Regulations
NEW ZEALAND GAZETTE, No. 27
8 MARCH 2013
New Zealand business means all business, operations, or undertakings conducted in or from New Zealand identified and treated as if it were conducted by a company formed and registered in New Zealand
NZ IAS 24 means New Zealand Equivalent to International Accounting Standard 24 (Related Party Disclosures), approved under the Financial Reporting Act 1993
NZ IAS 32 means New Zealand Equivalent to International Accounting Standard 32 (Financial Instruments: Presentation), approved under the Financial Reporting Act 1993
NZ IAS 34 means New Zealand Equivalent to International Accounting Standard 34 (Interim Financial Reporting), approved under the Financial Reporting Act 1993
NZ IAS 39 means New Zealand Equivalent to International Accounting Standard 39 (Financial Instruments: Recognition and Measurement), approved under the Financial Reporting Act 1993
NZ IFRS 7 means New Zealand Equivalent to International Financial Reporting Standard 7 (Financial Instruments: Disclosures), approved under the Financial Reporting Act 1993
other asset under administration means any asset that is not an impaired asset or a 90 day past due asset where the counterparty—
(a) is in receivership, liquidation, bankruptcy, statutory management, a no asset procedure, voluntary administration or any other form of administration in New Zealand; or
(b) is in any other equivalent form of voluntary or involuntary administration in an overseas jurisdiction
overseas banking group means a registered bank and all other entities included in the group for the purposes of public reporting of group financial statements in the country of domicile of the registered bank
past due has the same meaning as in NZ IFRS 7 and an asset that is a specified number of days past due includes an asset for which, in relation to the contracted terms, conditions, or limits that applied to the asset immediately before non-performance commenced—
(a) any payment of principal, interest or other forms of monies owing is overdue, or has not been paid in accordance with the asset’s terms and conditions, for at least the specified number of days; or
(b) amounts owing under revolving facilities have been continuously outside of limits for at least the specified number of days
premises means any staffed premises of the registered bank or an agency of the registered bank in New Zealand to which the registered bank’s customers or potential customers have access in order to conduct banking business
reporting date means the last day of the accounting period for a disclosure statement
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NZ Gazette 2013, No 27
✨ LLM interpretation of page content
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Registered Bank Disclosure Statements (Overseas Incorporated Registered Banks) Order 2013
(continued from previous page)
💰 Finance & Revenue4 March 2013
Banking, Disclosure Statements, Overseas Banks, Reserve Bank, Regulation