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Deposit Takers Act 2023

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

52: Requirement for approval is in addition to other requirements

You could also call this:

"You must follow all the rules, not just the ones in this law, when making changes that need approval."

Illustration for Deposit Takers Act 2023

If you want to make a change that needs approval under this part of the law, you must follow the rules in this law. You also need to follow other laws that apply to your situation. For example, if companies are merging, you must comply with the requirements of Part 13 of the Companies Act 1993.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS494572.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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51: Offence to contravene condition of approval, or

"Breaking approval rules can lead to a big fine"

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

52Requirement for approval is in addition to other requirements

  1. This subpart does not limit any other legislation that must be complied with in order to give effect to a proposed change that requires approval under this subpart (for example, in the case of amalgamating companies, the requirements of Part 13 of the Companies Act 1993).