Plain language law

New Zealand law explained for everyone

Crown Entities Act 2004

Crown entity reporting and financial obligations - Other provisions for financial accountability - Acquisition of financial products, borrowing, guarantees, indemnities, and derivatives

160: Further provision relating to acquisition of financial products, borrowing, guarantees, indemnities, and derivatives rules

You could also call this:

"Extra rules for Crown entities when buying financial products or borrowing money"

Illustration for Crown Entities Act 2004

When you look at the rules for Crown entities acquiring financial products, borrowing, giving guarantees, or using derivatives, you need to consider some extra things. The rules in sections 161 to 164 apply, but they can be affected by regulations, approvals from the responsible Minister and the Minister of Finance, the entity's own Act, or exemptions listed in Schedule 1 or Schedule 2. These rules also apply to subsidiaries of Crown entities, just like they apply to the parent entity.

If the Minister of Finance gives an approval, they must tell everyone about it in the Gazette. You can find more information about these rules and how they work. The Minister of Finance and the responsible Minister can give approvals that affect how these rules work for a particular entity.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM330565.

Topics:
Government and voting > Government departmentsMoney and consumer rights > Banking and loans
Previous

159: Application of acquisition of financial products, borrowing, guarantees, indemnities, and derivatives rules, or

"Rules about buying and borrowing money and other financial things"

Next

161: Restrictions on acquisition of financial products, or

"Rules for Crown entities buying financial products, like shares or loans, with some exceptions."

Part 4Crown entity reporting and financial obligations
Other provisions for financial accountability: Acquisition of financial products, borrowing, guarantees, indemnities, and derivatives

160Further provision relating to acquisition of financial products, borrowing, guarantees, indemnities, and derivatives rules

  1. Sections 161 to 164 apply subject to—

  2. any regulations made under this Part; and
    1. any approval given jointly by the entity's responsible Minister and the Minister of Finance; and
      1. an entity's Act; and
        1. an exemption granted in Schedule 1 or Schedule 2.

          1. Sections 161 to 164 apply to a Crown entity subsidiary in the same way as they apply to its parent.

          2. The Minister of Finance must notify in the Gazette an approval given under subsection (1)(b).

          Notes
          • Section 160 heading: amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).