If you are looking at a covered bond SPV, it is not considered an associated person for the purposes of section 274. You can find out what a covered bond SPV is by looking at section 404. A covered bond SPV is also not considered a subsidiary for the purposes of section 275.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS530188.
278: Questions about whether transactions are before or after resolution, or
"Figuring out if something happened before or after a bank got into trouble"
280: Grounds on which licensed deposit taker may be declared to be in resolution, or
"When a bank gets into financial trouble and can't pay its debts, it can be taken over to fix the problem."
A covered bond SPV (as defined in section 404) is not—
