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Deposit Takers Act 2023

Licensing of deposit takers - Appeals

57: Appeals against other decisions of Bank on questions of law only

You could also call this:

"Challenging the Bank's decisions about licences or approvals in court"

Illustration for Deposit Takers Act 2023

If you think the Bank has made a wrong decision in law, you can appeal to the court. You can appeal about a decision that affects your licence, like adding or changing conditions. You can also appeal if the Bank declines to give you an approval under subpart 5.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS475632.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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56: Appeals against licensing and fit and proper decisions, or

"Challenging the Bank's decisions: your right to appeal to the court"

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58: Appeal does not operate as stay, or

"Appealing a decision doesn't stop it from happening until a court decides otherwise."

Part 2Licensing of deposit takers
Appeals

57Appeals against other decisions of Bank on questions of law only

  1. A person that considers that any of the following decisions of the Bank is wrong in law may appeal to the court against the decision on a question of law only:

  2. a decision to impose conditions on the person’s licence or proposed licence or to vary, revoke, add to, or substitute any conditions on the person’s licence; or
    1. a decision to decline to give an approval under subpart 5.