Deposit Takers Act 2023

Miscellaneous - Trans-Tasman co-operation

438: Interpretation in this subpart

You could also call this:

"What special words mean in this part of the law"

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In this part of the law, you need to understand what some words mean. When the law talks about an action that is likely to have a bad effect on Australia's financial system, it includes things that stop or get in the way of certain arrangements. You should know that an authorised deposit-taking institution is a term that comes from the Banking Act 1959 in Australia. An outsourcing arrangement is when a business or part of a business is done by someone else, not the original business. The law uses these words to help explain what it means. You can find more information about similar laws by looking at the link to section 67A.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS524594.

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437: Offence to contravene requirement to change name, etc, or

"Breaking the law by not changing your name when required can lead to a big fine."


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439: Trans-Tasman co-operation, or

"Working with Australia to keep the financial system stable"

Part 8Miscellaneous
Trans-Tasman co-operation

438Interpretation in this subpart

  1. In this subpart,—

    action that is likely to have a detrimental effect on financial system stability in Australia includes an action that prevents or interferes with any outsourcing arrangement

      authorised deposit-taking institution has the same meaning as in section 5(1) of the Banking Act 1959 (Aust)

        outsourcing arrangement means an arrangement for business, or functions relating to any business, of an authorised deposit-taking institution to be carried on by a person other than that authorised deposit-taking institution.

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