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Deposit Takers Act 2023

Crisis management and resolution - Covered bonds - Registration of covered bond programmes

412: Bank must approve or decline application

You could also call this:

"The Bank says yes or no to your application to register a bond programme."

Illustration for Deposit Takers Act 2023

You apply to register a covered bond programme under section 410(2). The Bank looks at your application and decides. The Bank approves your application if you meet the requirements of section 411(2). The Bank then registers your programme. If you do not meet the requirements, the Bank declines your application.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS475570.

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411: Determination of application for registration of covered bond programme, or

"How to get a covered bond programme approved"

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Part 7Crisis management and resolution
Covered bonds: Registration of covered bond programmes

412Bank must approve or decline application

  1. Having considered an application made under section 410(2), the Bank must either approve or decline the application.

  2. If the Bank is satisfied that an issuer meets the requirements of section 411(2), the Bank must approve the application and register the covered bond programme.

  3. Otherwise, the Bank must decline the application.

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