Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

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

413: Bank must give notice of approval

You could also call this:

"The bank must inform the issuer within 60 working days if an application is approved."

Illustration for Deposit Takers Act 2023

If the Bank says yes to an application, it must tell the issuer within 60 working days. The Bank must get all the information it needs first. You can find more information about this by looking at the link to a related law.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS498009.

This page was last updated on — View changes

Topics:
Money and consumer rights > Banking and loans
Previous

412: Bank must approve or decline application, or

"The Bank says yes or no to your application to register a bond programme."

Next

414: Bank must give notice of proposal to decline application, or

"Banks must tell you why they might reject your application"

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

413Bank must give notice of approval

  1. If the Bank approves the application, it must give notice of its decision to the issuer within 60 working days after receiving all of the information required by the Bank to determine the application.

Compare