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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 continue a court case against a deposit taker with permission."

Illustration for Deposit Takers Act 2023

You can start or keep going with a court case against a licensed deposit taker. This is to figure out if you have a right or a liability. You need to get permission from the Bank or the court first, even if other rules like sections 284 and 287 say something different.

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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.

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Topics:
Money and consumer rights > Banking and loansMoney and consumer rights > Consumer protectionCrime and justice > Courts and legal help
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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 let some creditors keep doing what they were doing, even during a pause."

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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