Local Government Borrowing Act 2011

Application of Non-bank Deposit Takers Act 2013

7: Funding Agency not a non-bank deposit taker

You could also call this:

"The Funding Agency doesn't have to follow rules for non-bank deposit takers."

Illustration for Local Government Borrowing Act 2011

The Funding Agency is not considered a non-bank deposit taker when it comes to the Non-bank Deposit Takers Act 2013. You can find more information about this act on the Non-bank Deposit Takers Act 2013 webpage. This means the Funding Agency does not have to follow the same rules as non-bank deposit takers under this act.

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This page was last updated on 10 September 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3620720.

Topics:

Money and consumer rights > Banking and loans

6: Act binds the Crown, or

"The government must follow this law's rules too"

8: Financial Markets Conduct Act 2013 applies to Funding Agency as if it were local authority, or

"Funding Agency must follow same financial rules as local councils"

7Funding Agency not a non-bank deposit taker

The Funding Agency is not an NBDT (a non-bank deposit taker) for the purposes of the Non-bank Deposit Takers Act 2013.

Notes

Section 7: replaced, on 1 May 2014, by section 92(2) of the Non-bank Deposit Takers Act 2013 (2013 No 104).