Part 2Licensing of deposit takers
Key provisions
10Deposit taker must be licensed
Every person who carries on business as a deposit taker must hold a licence.
Deposit Takers Act 2023
Licensing of deposit takers - Key provisions
10: Deposit taker must be licensed
"To take people's money, you need a special permit called a licence."
If you want to carry on business as a deposit taker, you must hold a licence. This means you need to get a licence before you can start taking deposits from people. You have to follow this rule to be a deposit taker in New Zealand.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS490395.