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 you see the phrase "action that is likely to have a detrimental effect on financial system stability in Australia", it includes things that stop or get in the way of certain arrangements. These arrangements are called outsourcing arrangements, which is when a business or some of its functions are done by someone else.

You also need to know what an "authorised deposit-taking institution" is, which is explained in the Banking Act 1959 (Aust). An "outsourcing arrangement" is when a business or some of its functions are done by someone else, not the business itself. This helps you understand what these words mean in this part of the law.

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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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439: Trans-Tasman co-operation, or

"Working with Australia to keep their 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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