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Deposit Takers Act 2023

Crisis management and resolution - Conduct of resolution - Bank may investigate affairs of licensed deposit taker

313: Bank’s investigation powers

You could also call this:

"The Bank's powers to investigate deposit takers"

Illustration for Deposit Takers Act 2023

You have a licensed deposit taker in resolution, the Bank gets all the powers and duties of a person appointed under subpart 5 of Part 4. The Bank can use powers like those in sections 127 and 128 to investigate the affairs of a licensed deposit taker. The Bank must also follow rules like those in section 129 about offences during investigations. You know the Bank has these powers when investigating a licensed deposit taker. The Bank can use these powers without limiting any other powers it has, such as those under subpart 1 of Part 4. This means the Bank has many ways to investigate and make decisions about licensed deposit takers. The rules about the Bank's investigation powers do not change any other powers the Bank has. This is important because the Bank needs to be able to investigate and make decisions about licensed deposit takers in different situations. The Bank's powers help keep the financial system safe and fair for everyone.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS530163.

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Part 7Crisis management and resolution
Conduct of resolution: Bank may investigate affairs of licensed deposit taker

313Bank’s investigation powers

  1. In relation to a licensed deposit taker in resolution, the Bank has all the powers conferred, and all the duties imposed, on a person appointed under subpart 5 of Part 4.

  2. The following provisions apply, with any necessary modifications, as if the Bank were appointed under section 126:

  3. sections 127 and 128 (which relate to powers to carry out an investigation of the affairs of a licensed deposit taker); and
    1. section 129 (which sets out offences in relation to investigations).

      1. Subsection (2) does not limit subsection (1).

      2. This section does not limit any other power conferred on the Bank (for example, powers under subpart 1 of Part 4).

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