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Deposit Takers Act 2023

Enforcement - Power to accept undertakings

154: Court must take into account certain matters

You could also call this:

"Courts consider what happened and who was affected when making decisions about deposit takers"

Illustration for Deposit Takers Act 2023

When you are in court because of a problem with a deposit taker, the court has to think about some things before making a decision. The court must consider what happened and how bad it was. You can think of this like a list of things the court has to look at, including how someone broke the rules, if anyone got hurt or lost money because of it, and whether it was on purpose or an accident. The court also thinks about any other important details that might help them make a fair decision.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS497395.

Topics:
Money and consumer rights > Banking and loansCrime and justice > Courts and legal help
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153: Court may enforce undertaking, or

"Court can make you keep a promise you made to the Bank"

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155: Proceedings for alleged contravention, or

"What happens if you're accused of breaking the Deposit Takers Act 2023 rules"

Part 5Enforcement
Power to accept undertakings

154Court must take into account certain matters

  1. The court must, before making the order, take into account the following:

  2. the nature and extent of the contravention of the undertaking:
    1. the nature and extent of any loss or damage incurred by any person as a result of the contravention:
      1. the circumstances in which the contravention occurred (including whether it was intentional, inadvertent, or caused by negligence):
        1. any other matters the court considers relevant.