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Deposit Takers Act 2023

Licensing of deposit takers - Bank’s approval required for certain changes - Process for approval

48: Report on proposal

You could also call this:

"Getting a report to help make a good decision about a proposed change"

Illustration for Deposit Takers Act 2023

When a change is proposed, the Bank might ask someone who is suitably qualified to write a report about it. This report helps the Bank do its job properly under this part of the law. You have to give the person writing the report any information they need to do their job if you are the one who asked for the change or if you are affected by it.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS494567.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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47: Request for approval, or

"Asking the Bank to Say Yes to a Change"

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49: Bank must consider whether it would still be satisfied of licensing matters, or

"Banks must check if they still agree with important rules before okaying changes."

Part 2Licensing of deposit takers
Bank’s approval required for certain changes: Process for approval

48Report on proposal

  1. The Bank may arrange for a suitably qualified person (B) to prepare a report on a proposed change to assist the Bank with performing or exercising its functions, powers, or duties under this subpart.

  2. A person that makes a request and every other party to the proposed change must provide to B the information that B requires to assist them in preparing the report.