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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:

"What happens to overseas banks in New Zealand if they get into trouble"

Illustration for Deposit Takers Act 2023

You are dealing with a licensed deposit taker that is based overseas and is in resolution. This part of the law and subparts 5 to 8 only apply to its New Zealand business. They apply to the property, rights, and liabilities of the New Zealand business and how it is managed.

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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.

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Topics:
Money and consumer rights > Banking and loans
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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 licensed deposit taker's problems are fixed by the government, this is when it starts"

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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