Financial disclosure by registered banks

81 Public disclosure of information or data by registered banks

(1)

The Governor-General may, by Order in Council made on the advice of the Minister that is given in accordance with a recommendation of the Bank, prescribe information or data that must be published by—

(a)

all registered banks; or

(b)

any class of registered banks specified in the order.

(2)

A registered bank to which an Order in Council applies must publish the information or data specified in the order—

(a)

in a document to be known as a disclosure statement; and

(b)

in the manner and with the frequency specified in the order.

(3)

The information or data that may be prescribed in an Order in Council includes, without limitation, information or data about—

(a)

the corporate matters of a registered bank; and

(b)

the financial matters of a registered bank; and

(c)

the prudential matters of a registered bank; and

(d)

any other matters relating to the business, operation, and management of a registered bank.

(4)

The Order in Council must be published in the Gazette.

(5)

An Order in Council made under this section is a disallowable instrument, but not a legislative instrument, for the purposes of the Legislation Act 2012 and must be presented to the House of Representatives under section 41 of that Act.

Section 81: replaced, on 21 August 2003, by section 21 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 81(5): replaced, on 5 August 2013, by section 77(3) of the Legislation Act 2012 (2012 No 119).