Deposit Takers Act 2023

Depositor compensation scheme - Bank assumes rights and remedies in relation to protected deposit

229: Subpart does not limit or affect other rights or remedies

You could also call this:

"This law doesn't stop you using other rules that can help you."

Illustration for Deposit Takers Act 2023

This part of the law does not stop the Bank from using other rights they have. You can still use other rules or laws that help you if you need to. The Bank's other rights are not changed by this subpart.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS506651.


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228: Bank may apportion compensation to determine respective rights and remedies, or

"The bank decides how to share compensation for your protected deposits."


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230: Bank may use fund to support resolution, or

"The Bank can use a special fund to help a bank in trouble without making things worse for people who have money in the bank."

Part 6Depositor compensation scheme
Bank assumes rights and remedies in relation to protected deposit

229Subpart does not limit or affect other rights or remedies

  1. This subpart does not limit or affect any other rights or remedies that the Bank may have.