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Deposit Takers Act 2023

Depositor compensation scheme - Depositor Compensation Fund

196: Depositor Compensation Fund established

You could also call this:

"Help for you if your bank account money is at risk"

Illustration for Deposit Takers Act 2023

The Depositor Compensation Fund is set up to help you if something goes wrong with your deposit. This fund is often called the fund for short. It is established to support depositors like you.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS501284.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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195: Bank’s function under this Part, or

"The Bank's job is to run a safety net to help people get their money back if a bank fails"

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197: Fund owned and managed on behalf of Crown, or

"The government owns a fund, and a bank manages it for them."

Part 6Depositor compensation scheme
Depositor Compensation Fund

196Depositor Compensation Fund established

  1. This section establishes the Depositor Compensation Fund (the fund).