The Reserve Bank of New Zealand has asked Westpac to review the structure of its operating model to ensure it can consistently comply with its prudential policies after it was found in 2008 that both the bank's incorporated entity in NZ and the branch had been non-compliant with their conditions of registration.An independent review will now take place with the terms established after consultations between the RBNZ, Westpac NZ and the NZ branch. The review will be conducted under the established processes and framework of section 95 of the Reserve Bank Act.Prior to November 2006, Westpac conducted its operations in NZ under a branch structure. But from that date, Westpac adopted a dual registration operating model that included a locally incorporated subsidiary to conduct its retail and business banking activities, and a branch. Westpac expects to outline the new operating model and governance changes in its disclosure statements for the year ending September 30, 2009.