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Deposit Takers Act 2023

Crisis management and resolution - Resolution of licensed deposit takers and associated persons

276: Resolution for overseas persons

You could also call this:

"Rules for overseas businesses in trouble in New Zealand"

Illustration for Deposit Takers Act 2023

If you are an overseas person with a licensed deposit taker in New Zealand that is in trouble, the rules in this part of the law apply to your New Zealand business. This means the rules apply to the property, rights, and liabilities of your business in New Zealand. The rules also apply to how you manage or run your New Zealand business, and you can find more information in subparts 5 to 8.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS530166.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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275: Resolution of subsidiaries, or

"What happens to subsidiaries when a deposit taker has financial problems"

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277: Date on which, and time at which, resolution starts, or

"When a special instruction starts, and what time it begins, for companies to follow new rules."

Part 7Crisis management and resolution
Resolution of licensed deposit takers and associated persons

276Resolution for overseas persons

  1. If a licensed deposit taker in resolution is an overseas person, this subpart and subparts 5 to 8 apply only to—

  2. the property, rights, and liabilities relating to its New Zealand business; and
    1. the management or conduct of its New Zealand business.

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