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Deposit Takers Act 2023

Crisis management and resolution - Covered bonds - Registration of covered bond programmes

409: Other matters relating to registration

You could also call this:

"What happens if there's a problem with registering a covered bond programme?"

Illustration for Deposit Takers Act 2023

When you register a covered bond programme, it happens at the time the Bank adds the details to the register. You can still enforce your rights if there is a problem with the registration process. The Bank must follow the rules, and if they do not, it does not affect your rights, as stated in section 416.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS498007.

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Topics:
Money and consumer rights > Banking and loans
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408: When programme must remain or be removed from register, or

"When a programme can stay on or be taken off the register"

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410: Application for registration of covered bond programme, or

"How to register a special kind of loan programme"

Part 7Crisis management and resolution
Covered bonds: Registration of covered bond programmes

409Other matters relating to registration

  1. Registration occurs at the time and date that the Bank enters the details relating to the covered bond programme on the register.

  2. A defect in the registration process of a covered bond programme does not affect a person's ability to enforce their rights in relation to the programme or any covered bond issued under the programme.

  3. The failure of an issuer to register a covered bond programme or to comply with any requirement under section 416 does not affect any other person's ability to enforce their rights in relation to the programme or any covered bond issued under the programme.

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