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Deposit Takers Act 2023

Crisis management and resolution - Moratorium and restriction on resolution trigger

288: Person may commence or continue proceeding with leave

You could also call this:

"You can start or keep a court case going if you get special permission."

Illustration for Deposit Takers Act 2023

If you want to start or keep a court case going against a licensed deposit taker, you can do so if you get permission from the Bank or the court. This is allowed even if other parts of the law, such as sections 284 and 287, say otherwise. You need to get this permission first to find out if you have a right or a liability in the case.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS530900.

Topics:
Crime and justice > Courts and legal helpMoney and consumer rights > Banking and loans
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287: Restriction on resolution trigger, or

"Rules to protect you when you're a deposit taker in trouble"

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289: Bank may waive application of moratorium and restriction on resolution trigger, or

"The Bank can choose to not follow some rules for certain creditors."

Part 7Crisis management and resolution
Moratorium and restriction on resolution trigger

288Person may commence or continue proceeding with leave

  1. Despite sections 284 and 287, a person may commence or continue a proceeding against the licensed deposit taker for the purpose of determining whether a right or liability exists if the leave of the Bank or the court is first obtained.

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